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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 11, 1969
Page
23
The New York stock market ended the Friday session up modestly after an earlier rise driven by bargain hunting. Volume reached 11,730,000 shares, with analysts noting the initial advance due to bargains but cautioning the rally could fade as selective buying wanes.
Washington AP reports Dr. Roger Egeberg won Senate confirmation Friday as assistant secretary for health and scientific affairs in the Department of Health Education and Welfare.
Chicago AP to USDA estimates show Monday receipts of 9 000 cattle 5 000 hogs and no sheep. Butcher hogs sold steady to 25 cents higher while sows rose to 25 cents. Slaughter steers and heifers stayed steady to 25 cents higher and sheep were steady.
USDA report from Chicago shows hog receipts around 3000 with steady to 25 cents higher on various weight classes. Cattle slaughter steers and heifers rise 25 cents, with primes noted at 33.50 to 33.75 for big steers, and spring lambs steady at 28.00 to 30.00 for 85 to 105 pound lambs.
Trade fairly active with demand good and butchers steady to 25 cents higher. Receipts Friday estimated at 50 000, week ago holiday 47 000, Thursday 69 000. Prices listed for various Hogs by weight and grade.
In Omaha market activity is light with few cattle offered for test. Cattle prices show steady cows while steer and heifer sales are sparse. Reported prices include good steers around 79.00 to 31.00, good to low choice heifers 29.00 to 36.25, utility and commercial cows 21.00 to 22.00, and canner figures near 19.0. Calves are listed around 50.1, with uncertainty in several categories.
USDA Midwest market notes show mixed cattle prices with steer and heifer beef down by 50 to 1.00, cow beef up 0.50, and various pork and ham items up 0.50 to 1.00. Specific weights and prices for beer beef, heifer beef, plenics and bellies are listed with scattered figures.
Cedar Rapids buyers reported steady prices on Friday with Thursday’s bulk deliv ery rates for hogs 200 to 230 pounds at 25.25 to 25.65 dollars per cwt. Sows over 300 pounds ranged 22.25 to 22.75 dollars. Weight slabs and grade adjustments cut prices for heavier hogs while lambs and assorted feed items show varied quotes in the fruitless ledger.
Iowa legislator Rep. Conrad Ossian alleged that the three state universities inflate their budget requests to secure a larger share of the regents budget. Sen. Francis Messerly noted the funding formula has not changed in a decade amid growth and shifting goals. The panel focused on staff use, potential enrollment caps, and facility efficiency.
Chicago based traders saw corn fall sharply from early highs on Friday with a government crop report seen as bullish for corn and soybeans but mixed for wheat. Wheat faded after early strength as corn liquidation pressured nearby pits, with July prices showing modest declines across grains and soybeans mixed.
The ledger lists cash grain quotes for Chicago futures: No 2 soft wheat at 1.32, No 2 yellow corn at 2.70, No 1 yellow at 2.70, with other varieties and weights shown. Values appear fragmented but indicate typical daily price postings.
Livestock futures mention frozen pork bellies with July prices listed. Lamson Bros. provided the quoted price of 4.05 for one unit and noted a 3 ounce per unit measurement.
AP report notes steady wholesale business with mixed grain prices and firm egg demand. Potato arrivals total 449 with light supplies and good demand. California white potatoes quoted at 74.00 per hundredweight and round reds at 5.25 per hundredweight.
Wholesale produce offerings light on larges and adequate on mediums and smalls. Demand fair with 42 to 45 standards. Ties for fancy farce 477 to 4842 and fancy medium 33 to 342. Fancy smalls 232 to 282. Butter offerings ample with slow demand. Creamery scores 93 at 682 to 69 cents and 92 at 6812 to 6894.
Five more miners died Friday, raising the death toll from Monday's explosion near Taipei to 39. The incident has prompted ongoing search and rescue efforts as teams work to recover victims and assess the disaster.
Douglas Gervich and Daniel Gervich of Marshalltown pled guilty in municipal court to possession of narcotic drugs. Judge John Reilly sentenced them to six months in county jail, then suspended the sentences. They were arrested April 12 at the Municipal airport. A charge of possession of prescription drugs without a prescription against Daniel remains pending. The preliminary hearing is set for July 23 at 2 p.m. Daniel is free on a $2,500 bond.
Thomas R. Park, 20, of 404 Fourteenth Street SE, appeared before Judge John Reilly and was given until July 17 at 9 30 a m to move waive or demand a preliminary hearing on a larceny charge. Park allegedly took a car hood from a Ford belonging to John Dales on May 24, valued at 80 dollars. Park was released on his own recognizance.
Karen Steil 18 of 865 Eleventh Street NE had charges of fraudulent acts and assault with intent to rob dismissed in municipal court on Friday. Judge John Reilly granted the motion at state request in the interest of justice. Steil admitted receiving an ADC check January 28 without filing for a divorce while living with her husband. She and Robert Steil Jr were arrested January 23 after an alleged attempt to rob Ed Axton at the Derby service station on Mt Vernon Road SF.
In TAIPEI a gas explosion at the Juifang coal mine trapped 96 miners in a tunnel 20 miles northwest of the capital. The death toll rose to 30, the worst mining disaster in Taiwan's history.
Robert W. Nelson was elected president of the Eastern Iowa chapter of Certified Property and Casualty Underwriters in Iowa City. Jerry Seidl named vice president and Gene Connor elected secretary with Fred Bjornsen as treasurer. William L. Rutenbeck and Daniel A. Molyneaux named to the board of directors.
Clive Phillips 17 of 2315 Deborah Drive SW admitted to St Luke s hospital Thursday with pelvis and leg injuries after being struck at First Street and Sixteenth Avenue SW by Adrienne Zimmerman 1309 Twenty first Avenue SW whose license had expired. In a separate incident Chris Meadow II of 1922 B Avenue NE suffered rib injuries treated at Mercy hospital after being struck by Dale F E Welsh 1834 Wilson Avenue SW as his car backed from a driveway. Thelma C Hahn 56 of 204 Second Avenue SW was charged with failure to yield after a two car collision.
Acquisition of all Iowa Securities shares by Northwest Bancorporation of Minneapolis was announced. Shares exchanged for 96,000 Northwest common stock, valuing the deal well over $3 million. Iowa Securities, founded 1906, operates mortgage servicing with offices in Cedar Rapids and other states, servicing about 18,000 mortgages totaling nearly $287 million for institutional investors.
A short list shows prices for corn syrup tank cars at 5.35 and crude corn oil at 6.65. Additional lines cite Pearl Starch and Powdered Starch in moisture and paper bag packaging, along with references to grit and dextrin.
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