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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 16, 1963
Page
19
Stocks closed lower in light trading on Tuesday in New York. Short covering toward the end firmed several issues that wilted in the afternoon. Volume was about 3 million shares versus 3.29 million on Monday. Most gains and losses were fractional.
Market notes show Am Reins trading 66 to 68 with McKay at 47 to 50 percent on several reported measures. Me Jon and Nat Oats appear in midday price spread discussions, while Kaiser Ind and Life Inv figures surface in broader sector summaries. The data hints at mixed activity across industries, with modest shifts and notable volatility in a few segments.
UPI reports Omaha cattle receipts around 500 head with calves at 25. Steers and heifers were steady to strong with some gains of 25 cents though trade not fully developed. Most choice steers priced at 24.50 to 25.25. most choice heifers 24.00 to 25.00, one load at 25.10 for high choice.
IBM reports first half earnings of 134 million dollars or 4.84 a share up 15.4 percent from 1962. Gross income reaches 996 million on revenues of 996 million while prior year earnings were 116 million or 4.21 a share on 931 million in revenue.
The Federal Reserve Board index rose one point in June and reached a new high of 125. The index uses the 1957-59 average set at 100 for comparison.
A three county postmasters meeting was held Monday evening in Cedar Rapids with Linn and Benton hosts for Iowa county. About 55 attended at the Elks club dinner meeting. Speakers were Mark E. Snodgrass and Arthur E. Witt both of Cedar Rapids.
Chicago AP reports USDA estimates for Wednesday show 10 000 cattle 6 500 hogs and 500 sheep. The butcher hog market fell from Monday gains with declines up to 50 cents per hundredweight as slaughter steers held steady to 50 cents lower with high choice 1200-1350 pound cattle at 25.50.
Hogs 6 500 head with weak to 50 lower. Prices: 190-225 lb butchers 19.00-19.25. 230-260 lb 18.25-18.50. 250-290 lb 17.65-18.25. 325 lb around 17.25. 350-400 lb sows 14.50-15.50. 400-450 lb 13.50-14.75. 450-550 lb 12.75. cattle 3 000 head, steers 25.50 for 1 200-1 350 lb. 24.50-25.25 for 900-1 400 lb. 14.50 for 1 075-1 150 lb. heifers 25.00. cows 14.00-16.00. bulls 19.50-20.50. Sheep 500 head. lambs 85-100 lb 22.00. 80-100 lb 20.00-21.50. ewes 4.50-6.50.
Des Moines market summary shows steady to 25 higher with estimated receipts 45 000 and weekly actuals 54 000 last week and 47 000 for Monday. U S 1 3 butchers high ranges 17 50 to 18 40 for 200 240 pounds and 16 75 to 18 10 for 240 270 pounds. Lows list 270 330 pounds at 15 00 to 16 25 and heavier cattle 12 50 to 14 75.
Sioux City cattle receipts total about 4,000 with calves absent. Steers and heifers show slow demand while lighter steers under 1,250 pounds and lighter heifers stay mostly steady with some gains to 25 cents higher. Heavy steers move very slowly with several loads unsold. top steers bring around 24.50 to 25.25, top heifers 23.75 to 24.50, and multiple loads average to high choice with some prime at 24.75 to 25.00.
C. R. Markets in Cedar Rapids reported steady hog prices Tuesday with Monday bids at 16.75 to 18.10 and some at 18.25. The bulk of 1s and 2s priced 17.50 to 18.10 at plant delivery. Packing sows 300 lbs down ranged 14.50 to 15.50, with butchers graded by weight and packs adjusted per weight groups up to over 500.
Chicago AP reports grain prices mixed with moderate gains from profit taking and short selling. Rain added bearish pressure on new crop corn while hedging eased in wheat and oats rose slightly. soybeans edged higher amid uncertain weather.
Chicago market quotes show wheat Nos 1 red 1.6594 1.86 and Nos 1 hard 1.97 1.972, yellow hard 1.974 1.972, corn Nos 1 yellow 1.33 1 1/2, No 5 yellow 1.2894, oats various grades around 68 to 69 cents, no soybean sales, soybean oil 8a-9a.
AP reports steady wholesale butter prices with slight shifts by grade and format. Eggs stay steady or up mildly across whites and standards while poultry values edge lower for some cuts and higher for others, with arrivals at 72 and total U.S. shipments 194. California long whites trade near 4.40 to 4.50 and Texas round reds at 3.00 to 3.20.
The AP USDA market report shows eggs: Adequate top quality and ample balance with good demand for top quality and fair demand on balance. Extra large at 47 pounds minimum 33 2 35 cents, Extras medium at 40 pounds average 26 27 cents, Standards 30 2 32 cents, Checks 24 25 cents. Butter: Adequate supply with fair demand and unchanged prices.
Investors discuss ITT, noting shares rose about 10 percent since 1959 while Dow Jones industrials gained less. Harold Geneen led a management overhaul that lifted earnings from 1.90 to 2.43 last year, with 0.56 earned in Q1 this year. Cuba losses reduced equity by about 30 million, and P/E has fallen from above 25 to around 20 as electronics stocks remain hot.
Virgil Wessel resigned from the Edgewood Colesburg school board where he was elected in 1962. The successor to fill the vacancy has not yet been named.
The Marion council discussed identifying trees with Dutch elm disease and decided to hire an expert to survey the city. Building inspector and city attorney will prepare arborist certification tests before publishing the ordinance.
Gerald Ackley and Mrs. Orville Collins were installed as commander and president of Marion post 298 American Legion and Auxiliary Monday night at the Legion hall. New officers include Orville Collins as first vice commander Byron Miller as second vice commander H R Livings ton adjutant A A Hansen chaplain Robert G Mann finance officer W C Young historian E Carl Kreamer sergeant at arms H D Dan ford Ray Lake James Clapp on executive committee. Auxiliary officers include Gladys Ballard first vice president Mrs Wilbert Hughes second vice president Mrs Robert Mann secretary Mrs Dale Gallup treasurer Clara Clay historian Elizabeth Hart chaplain Mrs R J Mathews sergeant at arms Lillian Price Mrs James Clapp Mrs Hubert Slocum on executive board. Mrs Norman Hill of Palo Linn county auxiliary president acted as installing officer. Mrs Ralph Williams of Marion past department of Iowa president was installing chaplain. Mrs Raymond Lake past Marion unit president was installing sergeant at arms. Mrs Slocum retires as president. A reception and potluck dinner followed the meeting.
Advy notes the full Want Ad service remains available at the central Marion Gazette office offering listings for jobs, housing, and merchandise with local access and prompt processing.
Bay House Mr and Mrs Duane Steele of Downey California purchased the house at 1575 Henderson drive from Mr and Mrs William Stork. Possession has been given and the sale was handled by Kensinger realtors. Also promoting a 2 for 1 sale at Sorg Pharmacy starting Thursday.
YMCA at Marion branch lists swimming lessons 8 30 a m crafts at 10 facilities open 1 and 7 p m judo club 7 plus a clearance sale for summer suits at Irvin's Clothing. Osceola lodge meets Thursday at 7 30 in IOOF hall for second and third degree work. Self service dry cleaning at Marion coin laundry 599 7th Ave 1508 lb. Next door Yankee Gas Station ad.
Police report two church breakins over the weekend at First Baptist and First Presbyterian. Fifty cents was stolen from the Presbyterian office and 25 cents from the Baptist office, all from birthday funds. Entry was gained through basement windows and investigators suspect the same pair of thieves.
Injured-Howard Dickey and Michael Cira, both of Marion, were released from a Burlington hospital Tuesday after a Saturday evening car crash that left Dickey with facial, forehead, and knee lacerations while Cira sustained a nose injury. The item also notes local ads and a 4-H family picnic at Thomas Park with speeches on a forthcoming achievement show.
A Linn County zoning commission meeting to consider a Troy Mills area dump was postponed due to only two of seven members attending. The board may schedule a special meeting or delay until the August 19 session as Dudley Henderson discusses countywide dumping plans with several towns.
Sabins faced jury after being charged with false pretenses for buying a 1957 model car from Allen Motor Co Cedar Rapids on May 16 with a $650.75 check later claimed to be bad. Allen's testified the note was dishonored and that Sabins had not paid cash as promised and lacked a job at Quaker Oats Co.
Two motorists were fined 300 and costs for drunken driving. Edwin J. Ama 24 of rural Center Point and Guy O. French 35 of 1124 Eighth street SW faced penalties. Ama was arrested Friday at 11 13 p m four miles south of Center Point on highway 150. French was arrested Saturday at 12 05 a m in the 300 block of Eighth avenue SE.
Mabel I. Nickels, 46, of 1125 Thirteenth Avenue SE, was given until Friday to plead to a charge of false uttering a check after arraignment Monday before Judge Charles Penningroth. She is accused of cashing a $100 bogus check July 7 at Eagles Food Center, 1400 Mt. Vernon Road SE.
Mary L. Phipps death leaves two nieces Margaret Swiler and Helen Delzell as executrices with $500 to the Children’s Home Cedar Rapids and $1000 to three Delzell children plus $1000 to Swiler’s son. remainder to nieces. Dempsy Jones dies naming wife Mayme as executrix and heir. Charles Krejci dies naming wife Justina as heir and son Joseph as executor. Sarah E Scott Ford Marion dies naming three children Harry Scott Bertha Miller and Donald Scott as heirs with First National Bank as executor. Emil Lopata dies naming executrix Bernice and Glen C Babcock Cedar Rapids dies naming wife Betty as executrix and heir.
Linn County supervisors conditionally approved liquor by the drink for the Sportsman’s Club near Waubeek and Ced-Rel supper club west of Cedar Rapids. Changes urged by fire plumbing and health inspectors must be completed in 60 days. Virginia Nemecek signed a change agreement for wiring and exit door fixes. Light house Inn license request received no action.
Final arguments were being made Tuesday in the jury trial of Richard Sabins a 24 year old resident of 113 A avenue NE.
Judgment filed against Merle H. Daugherty for 327.37 on a promissory note. Iowa Manufacturing Employee Credit Union vs Archie and Naomi Wink for 210 on a promissory note. Asset recovery actions noted in public filing.
Dismissed Gary B North rop of 1916 First Avenue SE and Broderick Enterprises owners of Physicians and Surgeons building 1911 First Avenue SE face petitions objecting to alleged failure to destroy medicines and drugs left in a trash burner behind the building. H N Polance sues James F McKeever for 2470 dollar promissory note.
Dorothy Jeffords of Garden Grove California files a negligence action in district court seeking 9950 against St Luke’s Hospital and Dr Robert Netolicky alleging a sponge was left in her surgical incision during a 1953 operation and removed only in a 1962 surgery. A jury trial is requested.
A 16 year old boy operating a motor powered ice cream wagon on First avenue near Eleventh street suffered a contusion to his left hip and was treated at St Luke’s hospital. Another boy Scott McMurrin was hurt in a bicycle collision with a car on Fifteenth street between Seventh and Eighth avenues receiving a right hand and abdomen abrasion. The car driver Frank C Watson was not charged.
The Protestant Episcopal Church called all American bishops to attend a meeting on August 12 in Toronto to discuss the racial crisis. Spokesman for Rt. Rev. Arthur Lichtenberger, the presiding bishop, confirmed the plan.
Iowa City report quotes State Rep. John M. Ely Jr. urging adequate funding for quality education. He says people overemphasize saving money and ignore deterioration in educational standards. Rep. David M. Stanley adds educators should engage politically to secure financing for quality education.
Webster City, Iowa, March 12. Marvin Jondal was crushed by a drop hammer at Osmundson Forge Co. while four workers were changing dies. The accident occurred Tuesday and left three other employees uninjured.
In Linn County Iowa on July 8 1963 Charles M Frantz and Alfred P Frantz were appointed and qualified as executors of the Charles V Frantz estate. Debts should be paid immediately and all claims filed with the Linn County Iowa District Court Clerk. Mossman and Mossman Attorneys represent the executors.
Wynne state of Iowa Linn County on the 8th day of July 1963 duly appointed and qualified as Executor of the estate of Anna Hotmaster late of Linn County Iowa ERVIN HOFMASTER Executor Edward Von Hoene Attorney
On July 15 1963 the undersigned was appointed and qualified as Executor of the estate of Janet Anne Roe late of Linn County Iowa deceased. Creditors and claimants must file claims with the Clerk of Linn County District Court Iowa and those indebted must pay promptly to the Executor Merchants National Bank of Cedar Rapids serves as Executor Claasen Kreuter Ford Ibeling Attorneys.
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