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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 08, 1969
Page
11
In New York trading, stocks fell amid tax surcharge fears and Middle East tensions. Dow Jones averages drifted lower while meat markets showed losses with cattle and hog prices down across Cedar Rapids and Chicago packers. Analysts cite wage and price controls debate and a weak technical rally as factors behind the broad retreat.
Brig. Nguyen Van Toan, commander of the 2nd South Vietnamese infantry division, is accused of misusing combat support funds and profiteering. Charges name six Quang Ngai officials. cabinet will review. The cinnamon trade revival is cited as the improper profit source.
CHICAGO AP commodities opened strong then fell on profit taking after a crop report by statistician Conrad Leslie. The report signaled bearish soybeans and wheat but bullish corn, with wheat and oats prices fluctuating and soybeans slipping. Chicago cash grain and livestock quotes show varying prices for wheat, corn, oats, rye, soybeans, hogs, steers, heifers, and sheep with receipts and market activity noted across Des Moines and Des Moines area traders.
Livestock column from Omaha reports pork bellies quotations from Prom Lamson Bros with high and low prices and closing values. Cattle and calf trades appear mixed with steers and sows noted, prices varying by grade and weight. Market notes reference Monday tests, terms, and general demand conditions without specific sale results.
AP dispatch from Chicago and New York markets reports wholesale price shifts for butter eggs potatoes and produce. Butter wholesale flying prices vary with mixed demand while eggs whites and standards show uneven trading. potatoes supply moderate and market slightly weaker. California Lang whites price 2.35 and Redy 4.50 quoted. New York notes light wholesale offerings for large and mediums with smalls ample and demand slow.
Linn County Board of Health approved two budgets for final action by the county supervisors. The regular health department budget for 1970 is 312 858.32, up from 277 740 due to a five percent salary increase and pension and insurance costs. Also approved was a 190 912 budget for county employees and a separate waste program item. The board adopted minor amendments to water supply, sewage disposal and nuisance regulations with no objections.
Phillip Rasmussen a 16 year old of Bermuda pleads innocent in district court to robbery charges tied to the June 23 incident at the Bungalow tavern 1502 Ho avenue NE also named in the case are Glenn R Suits 33 and Johnny Ellis 16. Rasmussen is free on bail.
In San Bernardino the Pryor family shared a 10 by 4 foot sign reading Pray for our Bobby as neighbors and strangers offered prayers for Robert Pryor a 20 year old Green Beret wounded at Ben Het. By Monday they learned he was out of danger and recovering well.
Leslie Gene Untiedt of Cedar Rapids was arrested by Linn County deputies and held as a fugitive. An information filed by the county attorney accuses him of grand larceny in Fort Lauderdale Florida. Bond set at $10000. hearing scheduled for August 5 at 1 am.
Gary AL Knoke, 21, of 119 Sixth Street, pled innocent in district court to a robbery charge. He is accused in connection with a June 3 beating.
Stewart R. Clapp 45 of 1826 Second Avenue SE Tuesday filed for nomination as Cedar Rapids parks and public property commissioner. He is the first to indicate candidacy. Parks Commissioner Charles Decker has not announced plans. Gardner, retiring after 13 years, spurred 26 applicants. Primary October 21 and general election November 4.
Raytheon Co reports improved results with sales at 220 million and net income of 9.0 million for the quarter, up from the prior year. Per share earnings rose to 1.61 dollars, aided by restated figures including acquisitions. For the six months ended June 30, sales reached 611.2 million and income 17 million, with earnings per share up from 19 to 1.15 cents.
Washington reports unemployment slipped slightly in June to 34 percent amid weaker demand for workers. The Labor Department notes slower job growth and a modest April to June slowdown, with the period marking the smallest rise in lost employment.
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