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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 05, 1979
Page
13
Selected NYT composite prices from UPI show varied moves across industries with Amex and NYSE shares trading, highlighting gains for several giants like Alcoa and Exxon while others like Texaco and General Electric display mixed results. The report includes dividend notes and market-wide indexes for context.
NEW YORK and CHICAGO reports show mixed markets as traders awaited Carter administration plans to curb imported oil demand. Dow fell to 834.55 while NYSE composite rose slightly. volume about 17.39 million. Wheat corn oats soybeans prices listed in Chicago bids.
UPI livestock notes show hog trade in Des Moines varying by weight with steady to higher bids and strong overall demand, while eggs and dairy markets edge lower for late July through August. In Webster City, hog prices rise 1.00 to 1.25 for 200-240 lb butchers and 240-260 lb ranges, with sow prices steady to higher and lighter weights weaker.
Gold reached a record 286.625 dollars per ounce in Zurich and London amid a weakening dollar. The prior high was 284.50 in London on June 25, with London close at 283.50 Wednesday night and Zurich at 283.125. Analysts see gold approaching 300 as oil independence supports markets while the British pound jumps to 2.252 dollars.
The Cedar Rapids hog market was steady with butchers and packers pricing by weight up to 550 lbs and beyond. Bulk cattle sold 39.00 to 39.50 for 200 to 230 lbs, sows 31.50 to 32.50 under 550 lbs, with heavier sows 29.00. Cattle top traded at 67.00 for steers 1,000 to 1,200 lbs, and heifers at 65.00 for 900 to 1,050 lbs. Sheep lambs quoted 62.00 to 64.00 with 105 lb plus discounts. Soybeans and corn futures rose on Thursday with July and August soy up 13 2c and 3 1/2c respectively, new crop soy up 3 1/2c, corn up 4c across main contracts. No. 2 corn delivered to Cedar Rapids processors was 1.78 old crop and 1.80 new crop.
The bonds are in joint ownership. on the death of one owner the survivor holds the bonds free of income tax on accrued interest. Heirs pay income tax later when bonds are redeemed or reach final maturity unless a final return elects otherwise. At death, estate taxes may apply. death taxes differ from income taxes. Jointly owned assets may affect the decedent’s estate taxes.
The author warns that declaring six month savings certificates to the IRS can trigger scrutiny over past wealth. They caution about red flags when reporting taxable interest and suggest reporting changes, including amended state inheritance tax and possibly federal estate tax returns, if estates were sizable.
Iowa Governor Robert Ray will join three other Republican governors in Kentucky on Saturday to campaign for gubernatorial nominee Louie B. Nunn, his campaign manager announced.
JOLIET and DES MOINES reports show cattle and hog prices with steady to higher bids. High grade steers and heifers command 63.00 to 67.50. utility cows 54.00 to 56.00. hogs up 0.75 to 1.00 with various weights quoted. Osage notes pork and beef trade trends with mixed results. Omaha lists hogs 40.50 to 42.00 and cattle gains to 68.50 for select steers and 67.50 for heifers amidst varied yields. Estimated Friday receipts project lighter cattle and heavier hog activity.
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