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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 04, 1975
Page
14
New York banks raise prime rates sparking a market rebound as the Dow closes up. Des Moines and Cedar Rapids livestock prices edge higher amid quiet Independence weekend trading and varying weights. Grain and commodity quotes surface with mixed demand across regions and markets.
Three large aluminum makers Reynolds Metals Alcoa Kaiser delay planned price increases for 30 days to allow inflation hearings by the wage and price monitoring agency. Alcoa proposed 2.3 percent rise and Kaiser 2.7 percent, with a 5 percent impact on ingots. Fed reports May consumer debt up 72 million amid rising consumer confidence and extended credit use.
Frank B. Quevedo, 22, entered a Locust Valley bank with a shotgun and asked teller Gail Hannett to marry him. He warned of suicide if denied, then shot himself after police and staff evacuation. Hannett, 21, said she knew him in high school but never dated.
AP reports Stephen Rapp resigned as counsel to the Iowa house majority caucus per Speaker Dale Cochran. A former state representative and Democratic congressional candidate, Rapp will resume law practice in Waterloo.
Associated Press reports July 4 1976 marks the start of the bicentennial year with fireworks speeches and protests on commercialism. Ford planned to speak at Fort McHenry in Baltimore while the Jefferson Memorial hosted a wreath ceremony and the bicentennial commission named five Tory of the year.
Marion city council advanced two sidewalk improvements while delaying the 1975 seeding and sodding plan. A 4 1 vote certified necessity for the sodding project but failed to meet 75 percent due to James Galligan’s absence. A recon sideration motion passed, and the engineer was authorized to draft legal documents for two projects. One is 100 percent assessable at 82 468, with 63 964 payable by the city for curb ramps and extensions. the other costs 47 900 with 25 800 assessed. The home rule charter was filed and an Aug 26 special election set to extend mayoral terms and council terms. A hearing on RJ’s lounge liquor permit was set for Aug 21 amid minor complaints. Residents urged action on basement flooding following heavy rains. A bicycle code ordinance was read with a two year license fee and police bicycle inspections. An land exchange with Hennessey Brothers was heard without objections. Sorg Pharmacy will close July 4 with emergency prescriptions urged. Classified ads seek rental housing for Vietnamese refugees. The First National Bank promotes Direct Deposit for Social Security checks. On this date in 1965 raucous Fourth of July incidents caused property damage and injuries nationwide.
A Clear Lake man remains in critical condition after an explosion and fire at the Williams Brothers Pipeline Co facility. Mervin Anderson was flown to University Hospital burn center in Town City. Two other truck drivers, Mavin Whithe and John O'Donnell, were treated and released for burns. The blast occurred while a tanker filled with petroleum backfired around 5 pm, causing a 100 foot flame and heavy smoke. Damages were estimated at 650000 dollars.
Des Moines Gov. Robert Ray marks the nation’s bicentennial as a time to reflect on what it means to be American. He calls for thoughtful participation in 1976 celebrations and notes Iowa’s productive strength and enduring freedoms. Today Abigail Van Buren turns another age.
Douglas D. Hughes, 23, of 4311 Regal Avenue NE, Cedar Rapids, remains in serious condition at University Hospitals after his car ran off Third Avenue into Indian Creek at Thomas Park. He was treated for head, abdominal and chest injuries and near drowning after the 1001 foot plunge, with Marion police continuing the investigation.
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