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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 20, 1965
Page
14
In New York the stock market fell notably as trading picked up late Tuesday afternoon. Volume reached about 4.2 million shares, higher than the 3.19 million shares traded Monday, signaling increased activity and a broad retreat across sectors.
CHICAGO AP Thel Sheep 400 spring slaughter lambs steady with 90 lb lambs around 25.50 and most 85-105 lb lambs 24.00-25.00. Iowa Hogs Des Moines UPI butchers steady to mostly 25 cents slower. sows mostly steady with some 25 cent declines. Estimated Tuesday receipts 50,000. weekage 49,000. yearage 45,000. US cattle and hog prices listed by weight and grade.
Weyerhaeuser Company posted a six month period ending June 30 with earnings of 68 cents per share on sales of 183.5 million. The second quarter saw earnings of 20.813 million on sales of 183.514 million, the quarter’s best.
A Whittier woman, June Gillispie, 34, was injured when her car went into a ditch on C Avenue NE near Bowman Woods. She suffered a rib fracture and contusions and was in fairly good condition at St Luke's Hospital. Gillispie was returning home from Collins Radio Co. when the accident occurred.
AP reports steady wholesale butter prices with AA at 84, 92 A at SB4, eggs steady with whites 32 and mixed 127, 277 standards, live poultry unchanged with roasters 24-27, potatoes arrivals on track, demand mixed. UPI notes cattle and calf movements, New York listings show steady to weak markets, butter slightly higher with fair demand in New York region.
Sioux City AP reports Dr. Pierce D. Knott, 62, Sioux City pediatrician, indicted by a federal grand jury for sending six obscene letters to a Missouri man between last November and March. He was arrested in his office and posted a $1,000 bond.
Petition drive in Keokuk with 2,200 signatures seeks a special election to switch from the 1912 commission system to an aldermanic government. Mayor James O'Brien said a vote could occur within 60 days if valid. The plan envisions a mayor and 10 aldermen, with one from each ward.
The Marion council discussed a possible four way stop at Eighth Avenue and Tenth Street and heard pros and cons of a tavern at 1927 Sixth Avenue. A petition with 11 residents favored the tavern while 75 opposed it. The council also reviewed zoning, budget, garbage service, and paving bids, with Crivaro urging fiscal self sufficiency and study of private trash bids.
Investors' Guide Offices exchanged by manager as the water department expands its billing machine. The old office proved too small and future remodeling of the rear portion of City Hall aims to create new offices for the manager and provide space for the police court judge and the mayor.
The reader asks about selling or exchanging shares of American Hospital Supply after a stock split. The advisor explains a $400 cost basis, current value around $2,000, a $1,600 long term gain, and tax at half the income tax rate, with a 25 percent bracket example. Also mentions dividend yield and suggesting switching to higher dividend stocks for retirement. Local notices cover Cub Scout pack tour and Marion lodge meeting.
The senate judiciary committee approved Johnson nominee James P. Coleman 11 to 2 for the fifth U S circuit court. Javits and Hart voted against. McClellan Scott Smathers absent. Coleman faces full Senate vote amid civil rights group scrutiny over his segregationist past.
USDA estimates show firmer grain futures with Wednesday counts of 9,000 cattle, 5,000 hogs, and 400 sheep. The report sketches livestock and grain market expectations in Chicago.
Chicago and North Western Railway and subsidiaries reported first half 1965 net income of 3,807,424, the highest for six months in 20 years. Per share 1.74 versus a 2.06 deficit in 1964. Shares outstanding 877,191, revenues 111,822,472, up 5,442,696. Spokesman cites coal and coke, manufactured goods, iron and steel articles, grain, autos and piggyback moves as key gains.
The 12 500 ton liner Seven Seas with 490 passengers and 210 crew is stranded 500 miles east of St Johns Newfoundland after a Saturday night fire disabled its Diesel engines. The Absecon coast guard cutter reached the ship, and Capt Helmut Bender awaited the Jerse Zee tug to tow the ship to St Johns with arrival due Friday. Among passengers are 125 American high school students including Marilyn Aubrey of Burlington and Mary Knudson of Albion.
Elizabeth Ives sister of the late Adlai Stevenson expressed great delight over the appointment of Justice Arthur Goldberg as the new U S ambassador to the United Nations. She said he will be a brilliant replacement and was a close friend of her brother who understood Adlai and his aims as his death left the post vacant.
Dover England AP Bob Platten a specialist in offbeat crossings of the English channel set out for France Tuesday in a battle to test a new crossing route.
H King of 525 South Eleventh Street has returned home after serving as a counselor at a Presbyterian church camp in Wyoming last week.
Eight year old William Rankin of East Dubuque Illinois died from injuries after a collision Sunday at a county road intersection involving a car driven by his father George L Rankin and a vehicle driven by Joan Green of Cascade.
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