21 Jul 1958
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 21, 1958
Page
1
Chicago report shows hog offerings at 5 000 with 25 to 50 cent gains while demand remains moderate. Slaughter steers steady to 75 cents higher early but slow later. several prime lots remain unsold. Cattle receipts total 18 000 with varied prime to standard prices and notable spreads. sheep lambs mostly 50 cents lower with mixed grades in values.
Des Moines reports USDA prices for hogs with actual receipts Saturday at 22 500 and estimated Monday at 55 000. Barrows and gilts and sows are listed by weight and price ranges from 180 to 550 pounds with bid and asking values.
UPI reports Sioux City cattle receipts at 10 500 and calves 500 with fed steers and heifers advancing to about 25 cents higher in steady trade. High good and choice steers traded from 25.00 to 27.00, while good to some higher heifers brought 23.50 to 26.50 with many more still to sell.
Cattle receipts reach 17 500 with calves 250 as buyers pass slower bids for steers and heifers. Cows weaken while vealers hold steady. stockers and feeders steady to firm. High choice slaughter steers around 27.50 with weights 1200 to 1370 pounds selling near 26 to 27.50. sows range 17 to 19.50.
Cedar Rapids hog market quotations show plant delivered prices for good No 2 butchers and sows up a quarter. Meaty No 1 high yielding hogs may be as much as 50 cents above the quotations, while No 3 overfits may run as much as 50 cents below.
New York stock market rose in heavy trading on Monday 1958 averages climbed to a fresh high driven by steel oil chemical and rubber shares. Leading stocks advanced with gains from a few cents to over $2 as final prices stayed just below the day’s peak amid a 3 440 000 share volume.
Financial data from Francis DuPont & Co. lists Dow Jones averages and related figures. Managed by W H Jump at 404 Merchants National Bank Building, telephone EM 49151.
The House approved a 260 million dollar fringe benefit tax relief bill for small business by a large voice vote. It allows taxpayers to deduct a larger percentage of machinery and equipment depreciation in the first year, with Senate action expected before adjournment.
In Moscow the Soviet foreign ministry sent workers to the U.S. embassy to replace 275 windows shattered during Friday’s anti American demonstration.
Utilities, oils, and 500 stocks dominate a broad market roundup. Machinery, chemicals, electrical appliances, and electrical equipment are also highlighted in sector performance and price movements.
Chicago AP reports the Middle East situation stabilizing, prompting a sharp drop in grain futures. Wheat led losses with July at 1.8756-14, corn slipped to 1.34-3, oats 0.65, rye 1.28, soybeans 2.28, and lard down to 12.17 for July as commission houses led selling.
Chicago market update lists wheat No. 1 hard at 1.9142 92 cents, No. 2 hard at 1.912, corn No. 1 yellow at 1.374-37 1/2, No. 2 at 1.37 1/4, oats No. 6 at 69-70 1/4 cents, soy meal around 77.00, barley grades and related quotations included for July and September offers.
Live poultry totals 67 000 lbs with price changes from 23 to 24 cents per pound for certain cutups. Cheese and dairy items list varied grades and prices with 90 to 93 score milk products. Arrivals, shipments, and on track counts noted. demand described as moderate with a long whites market and some regional price differences for round reds and bakers across California, Texas, and Washington.
AP USDA notes butter steady with 651000 receipts while creamery closes at 59 to 92 scores and eggs hold firm with 26400 receipts. Medium cures around 38-39 percent and standards around 34-35 cents. extras 46-60.
Iowa Tax Commission officials report many cigarette retailers misapply the cigarette tax. Revenue Agent George Benshoof notes some charge a penny per pack while customers buy multiple packs, totaling 1.08 for four packs instead of 1.04. Officials will mail retailers guidance on proper tax procedure.
The United States with about 1/16 of the world population holds roughly 14 of global patents. Patents are a government public inventor contract. The first patent act was in 1790. The current U.S. system began in 1836 and has influenced most of the civilized world.
Gov Orval Faubus faces a two challenger field in the July 29 and August 12 Arkansas Democratic primaries as he seeks a third term amid national scrutiny over the Little Rock Central High School crisis. Opponents Chancellor Lee Ward and Chris Finkbeiner attack his taxes and stance on integration while Brown exits. Ward touts a tough stance and a runoff would follow if no majority is achieved. Ward and Finkbeiner praise Judge Lemley for delaying integration ruling.
Seven East Iowa sailors are reported in the Beirut area aboard ships including destroyer USS Rooks, aircraft carrier USS Wasp, escort destroyer USS Robert L. Wilson, and cruiser USS Des Moines. Names include Richard A. Caraway, Keith E. Madden, Duane E. Schneider, Eugene J. Wissink, Charles R. Kimpston, Dean F. Fiser, and Leon M. Bear. The list reached the U S 6th Fleet news center in the last two months with no expected changes.
Poet Edgar A. Guest reflects on the playful marital dynamics of taking his wife on fishing trips and baseball outings. He notes a sometimes noble aim yielding to personal choice, with trips often ending in his going alone to satisfy her whims.
Vermont officials ban leather jackets dungarees shorts and leather boots at Catholic Youth Organization and YMCA dances labeling such attire inappropriate costume party wear and enforcement advised at Burlington events.
Roswell Austin a retired member of the armed services board of contract appeals accused Presidential Assistant Sherman Adams of making an improper inquiry for Raglaine Worsteds Inc. The firm later received a government award after a penalty was reduced. Austin said outside influence on the board was wrong. The White House said Adams only relayed inquiries. The panel reviewed documents before a Tuesday hearing.
In South Bend Indiana fourteen major oil companies facing price fixing conspiracy charges were dismissed by federal judge Robert Grant for using an illegally drawn grand jury. Prosecutor Phil McNagny said new indictments would be sought this fall after the invalid drawing.
Rep. Henry O. Talle of Iowa was named chairman of the U S group for the Interparliamentary Union Conference in Rio de Janeiro for the fourth year. Ten senators and 10 House members will attend. Talle and Mrs. Talle left Washington for Rio de Janeiro. He recently healed from a fractured ankle and returned to work.
A thick smoke veil five miles deep spread over northern British Columbia as wildfires burned unchecked over about one million acres. Firefighters stood idle with all aircraft grounded, while sun wind and lightning fueled a crisis Chief District Forester Taylor called the worst in his 37 years.
A man was shot and killed near a curtain dash scene as East Berlin barbed border tension flared. The incident occurred Monday when a civilian slipped from bushes and ran toward West Berlin. an East German guard fired a pistol shot, the casualty dying 20 yards from the border.
An advertisement touts a new healing substance Bio-Dyne used in Preparation H that supposedly shrinks hemorrhoids stops itch and relieves pain without surgery. Reports claim rapid relief and long lasting improvement across many years' cases with no narcotics or astringents.
In Rome designers largely rejected the sack for autumn and winter while a vocal minority kept variations. Centinaro showed a high bosomed empire line with sack nods, Rapuano offered a form fitting silhouette with asymmetrical drapes, and Barbara favored a Renaissance mood with gathered folds from a high waist.
Special to The Gazette reports the Iowa River crested in the Coralville reservoir pool at 672.07 feet above sea level. Water remains about 24 percent deep over the Mehaffey bridge east approach and is not expected to drop until Thursday. The current level trails the 673.66 peak reached June 18, with most high water from Belle Plaine rainfall runoff last week.
Eastern and central Iowa air force reservists held a one day staff conference at the Roosevelt hotel in Des Moines. The 47 men from Cedar Rapids Des Moines Burlington Waterloo Dubuque Rock Island and Davenport discussed fall start date for new training programs at the 2662nd air reserve center. Lt Col Ervin Haack of Detroit was honored at the noon luncheon and Col Clinton Moyler of Marion presided as master of ceremonies.
The Boddicker Accordion Aces won third place in the senior band division at the American Accordion Association contest in Chicago. Members listed include Mel Jontz Peggy Elias Pat Johnston Bill Heald and others. Tune Toppers placed second in senior A combo with Heald Vokolek Johnston and Miss Erenberger. Jontz earned third in solo intermediate class B among 32 entries.
The federal government files a $6,324.09 collection suit in Cedar Rapids federal court against Lloyd and Virginia Lala of Walker. The action centers on two promissory notes held by the Commodity Credit Corporation, secured by chattel mortgages on 3,250 and 2,792 bushels of corn, with amounts due of $2,357.19 and $3,966.90 respectively.
Oswald Jacoby discusses when a slam is justified by simple finessing and mathematical reasoning. He notes a 50-50 chance to make the contract and compares conservative play with Vanderbilt winners Sam Fry and Lenny Harmon, who are not known for caution.
Sam as South abandons strict math and uses dummy's race to secure the contract. West led a 3 and North unexpectedly held the trump ace. Sam drops East's king after dummy's ace to complete the contract and win the hand.
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