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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 26, 1979
Page
19
United Press International late morning snapshot shows broad advance across major stocks led by Abbott and Alcoa with gains across chemical and consumer goods sectors. Investors monitor Amex and NASD listings as volume grows and P E ratios reflect rising valuations.
Iowa hog market report shows slow to moderate trade with good demand. Butchers mostly steady, sow prices steady to 50 cents higher. No 1-2 200-300 lb ranges from 52.50 to 53.50, 230-250 lb 51.75 to 53.50, 250-270 lb 50.50 to 53.00, 270-300 lb 48.00 to 51.50, No 1-3 300-600 lb sows 44.00 to 45.50, a few 46.00. Estimated receipts 60,000. Saturday 15,000. Friday actual 85,000. prior week 42,000. year ago 62,000.
At Cedar Rapids processors the Friday morning quotes show No 2 corn January $2.135 February $2.135 March $2.145 new crop $2.175 white corn $2.75 yellow soybeans January $6.74 February $6.74 March $6.77 new crop $6.38 oats old crop $1.60. Pro Farmer Grain provides the quotes.
Des Moines market notes show undertone steady with light offerings and mixed demand. Eggs vary by grade from 59 to 32 cents per dozen at farms. pork and beef trades move slowly with limited packer activity and modest price shifts across several weight classes.
The dollar rose to 199.175 yen in Tokyo while easing in most European markets. European currencies slipped. gold showed mixed moves with London at 234.50 and Zurich at 234.375 per ounce.
The Cedar Rapids market held steady on butchers and up to 1 dollar on packers to 550 lbs with sows over 550 lbs at 43.50 to 45.00. Butchers 200 to 230 lbs sold at 52.00 to 52.50, with weight-based discounts for heavier hogs. Thursday cattle traded mixed with top steers 59.00 to 61.00 and heifers 57.00 to 60.00. sheep market steady with lambs 68.00 to 75.00. JOLIET reports show cattle 200 priced higher and hogs unsettled with limited sales.
Iran canceled 20 million dollars in orders from Harnischfeger Corp in six weeks, including 1.5 million in Cedar Rapids produced machinery. The loss may push the first quarter to about 2 million dollars, with further impact from foreign currency translation and the German subsidiary. Rockwell-Collins and Iowa Manufacturing report no Iran order losses. FMC notes some, but not substantial, cancellations.
A Milwaukee consultant for the NRC questions seven of 24 pressure-boundary welds at the Duane Arnold Energy Center near Palo. NRC radiographic tests prompted third-party reviews. if welds fail to meet codes they must be redone, with a decision likely a week away. Start tests await NRC approval. restart pushed from December to February, now likely March 1. The plant has been shut since last June after a crack in a 10-inch water pipe and flaws in four other pipes led Iowa Electric to replace all eight.
The Linn District Court handled multiple cases. Patrick L. Little, 18, Cedar Rapids, received a two year probation after serving two months in prison for burglary. Howard F. Moses, 27, Ely, faces up to five years for third offense drunk driving. Anthony Sturtevant, 23, Cedar Rapids, gets two years for operating a vehicle without the owner's consent tied to a motorcycle theft, to run concurrently with a Washington state sentence. John R. Desotel, 27, Cedar Rapids, gets seven days for a second offense drunk driving. Christopher R. Salmon, 18, Cedar Rapids, received a deferred sentence for burglary, conditional on two years good behavior. incident May 31 in Cedar Rapids.
Five years ago the U S Coast Guard detained a Bulgarian trawler for fishing inside the 12 mile coastal limit off New Jersey, enforcing maritime boundaries and safety rules.
Ford Motor Co halted production indefinitely on its new turbo charged four cylinder engine for 1979 Mustangs and Capris to fix a defect in a turbo charger component from a supplier. Chief engineer H A Nickel said production stopped last week after about 9,500 engines were built.
The FCC ends Western Union’s 36 year domestic telegraph monopoly under the public interest ruling. Graphnet Systems Inc. wins approval to enter the field as the first competitor since Western Union’s dominance began. FCC started review last March after Graphnet filed its request.
An Illinois company, Thomson Newspapers Inc., has purchased The Oelwein Daily Register from Lew Warren, effective January 31. Warren, who took over in February 1942, plans to retire after the sale and will remain a resident of Oelwein. Thomson owns The Council Bluffs Nonpareil and other papers nationwide. Also noted: 30 years ago Tulsa families faced eviction amid rent control protests.
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