Economic Highlights Under Inflation Pressures and Growth
U S GNP grows 7.4 percent annualized in Q2 1978 though short of 4.1 percent target. GNP deflator hits 10.1 percent. June housing starts at 2.09 million with 9.9 percent monthly rise and permits up 12.7 percent. Personal income up 0.9 percent. inventories rise 0.8 percent. Foreign capital floods in with 101 manufacturing commitments in Q2, 182 total in 1978. New York cites curbs on foreign bank acquisitions. Carey signs insurer tax relief to create a freer cross border zone for large policies. Last week earnings shown by Eastman Kodak, Du Pont, Dow Chemical, UAL, Trans World Airlines, Time Inc, and General Telephone.
MENTIONED IN THIS ARTICLE
United States
Commerce Department
Conference Board
New York State Banking Department
Hugh L. Carey
Banking Board
New York State
Carey
Eastman Kodak
du Pont
Dow Chemical
UAL Inc
Trans World Airlines
Time Inc
General Telephone
Stocks show erratic week with mixed results in inflation era
New York markets posted volatile moves amid signals of solid growth but high inflation and rising rates. Dow fell to 833.42, NYSE index up to 54.91, S&P 500 at 97.75 as volume surged and airlines led active trading. Rowan Cos. pressured by takeover bid. McCulloch Oil led Amex gains.
MENTIONED IN THIS ARTICLE
New York
UPI
Standard & Poor
U.S
Pan American World Airways
UAL Inc
United Airlines
UAL
Rowan Cos
Chicago Bridge & Iron
Amex
McCulloch Oil
Sears victim of hoax calls
NEW YORK UPI Sears Roe buck Co. says it has been target of hoax messages about its finances and a supposed two for one stock split. The company confirms no current split and cannot identify the source or motive of the calls and telexes. The NYSE surveillance unit has been alerted.
MENTIONED IN THIS ARTICLE
New York
UPI
Sears, Roebuck & Co
Sears
E.R. Telling
United Press International
Telling
Western Union
New York Stock Exchange
Noise control market expands to 710 million by 1985
Barrington Illinois reports Plant Engineering magazine projects rapid growth in noise control products. By 1985 the market is expected to reach 710 million dollars, about four times the size of two years earlier.
MENTIONED IN THIS ARTICLE
Barrington, Ill
UPI
Plant Engineering Magazine
Raytheon posts record second quarter and first half results
Raytheon Co reports record second quarter earnings of 1.26 per share on 38.98 million dollars in profit with 834.4 million dollars in sales, up 32 percent and 17 percent respectively. For the first half earnings reach 71.59 million dollars or 2.31 per share on 1.6 billion dollars in sales. Midyear backlog sits at 3.88 billion dollars, rising slightly from a year ago.
MENTIONED IN THIS ARTICLE
Lexington
Mass
Raytheon Co
Raytheon
Allis May Lose Major Argentinian Turbine Contract
Allis-Chalmers of Milwaukee risks 162 million dollars in hydro turbine work for the Parana River project after the State Department rejected a letter of interest from the Export-Import Bank citing human rights concerns in Argentina. David Scott, company president, said the firm will seek financing elsewhere.
MENTIONED IN THIS ARTICLE
Milwaukee
UPI
State Department
Argentina
Wisconsin
Allis-Chalmers Corp
Allis-Chalmers
U.S. Export-Import Bank
Parana River
Argentina-Paraguay
David Scott
Allis- Chalmers
Eastern Iowa bankers and firms announce leadership moves
James A. Maurice of Monticello State Bank is elected vice president of Iowa Independent Bankers at the Lake Okoboji convention. Donald Keut of Farmers and Merchants Savings Bank Lone Tree and LeRoy C. Darby of Union State Bank Monona are named officers. Iowa Manufacturing Co Cedar Rapids unit promotes two in finance. Hansen Lind Meyer adds directors. new engineers hired at Iowa City firm. Lindale Plaza opens The Athlete's Foot shop. law and real estate firms relocate. Industry seminars and a 21st Midwest Symposium on Circuits and Systems set for August at Iowa State University. Shipments of major appliances rise. USP Real Estate Investment Trust declares quarterly dist. Life Investors reports quarterly figures. Piper Jaffray posts higher revenue and earnings. Cedar Rapids agents earn top honors in All American and Marathon Club. Lutheran Brotherhood agents reach top sales clubs and win a trip to Newport Beach.
MENTIONED IN THIS ARTICLE
James A. Maurice
Monticello State Bank
Iowa Independent Bankers
Association
Lake Okoboji
Iowa
Donald Keut
Farmers and Merchants Savings Bank
Lone Tree
LeRoy C. Darby
Union State Bank
Monona
Iowa Manufacturing Co
Cedar Rapids
Raytheon
Robert W. Michalicek
Robert C. Tordik
John E. Brown
Dubuque
Hansen Lind Meyer
Iowa City
R. Robert Byers
Des Moines
Dick Harken
American Family Insurance
Miami
Northwestern Mutual Life Insurance Co
George N. Justice
John M. Leland
Hal W. Walter
Marathon Club
Robert S. Cook
Richard H. Swanson
Thomas S. Redford
Eastern Iowa
Lutheran Brotherhood
Newport Beach
Calif
Ronald Anderson
Valleyview
Marion
Erwin Fruehling
Lloyd Olmstead
Decorah
Roger Knudtsen
Mason City
Hawkeye Bancorporation reports higher quarterly earnings
Hawkeye Bancorporation shows second quarter net income of 1.8 million, up 31 percent from a year earlier. For the first half of 1978, net income reached 3.4 million, up 27 percent, while Maytag Co earnings rose despite flat sales. Maytag’s Q2 sales were 73.9 million with earnings at 7.6 million, and first half sales 149.8 million with earnings 15.3 million, per share 57 cents.
MENTIONED IN THIS ARTICLE
Hawkeye Bancorporation
Maytag Co
Newton
Mutual savings banks report June deposit outflow
The National Association of Mutual Savings Banks said June saw a $75 million net deposit outflow across the sector, with total deposits at $1.475 billion and $1.55 billion in interest credited to accounts, reversing May’s inflow of $97 million as six month money market certificates failed to halt the weakness.
MENTIONED IN THIS ARTICLE
New York
UPI
Mutual Savings Banks
National Association of Mutual Savings Banks
Association
Czechs buy glass tech from Owens Illinois
Owens-Illinois Inc signed a technical assistance contract to provide black-and-white and color TV glass technology to Czechoslovakia. The deal is the firm's first in Eastern Europe and partners include Polytechna for importing and Sklouzson for most glass making.
MENTIONED IN THIS ARTICLE
Toledo, Ohio
UPI
Owens- Illinois Inc
Czechoslovakia
Europe
Polytechna
Sklouson
Bank clearings decline week ending July 21
The clearing house reports weekly bank clearings totaling 22,447,638 for the week ended July 21, down from 26,658,457 the prior week. Clearings for the same week last year were 20,318,875.
Insurance Institute grants general insurance certificates
Delores R. Weston and Jean A. Earll have earned the Certificate in General Insurance after national examinations in three areas. Both are members of Insurance Women of Cedar Rapids and the National Association.
MENTIONED IN THIS ARTICLE
Delores R. Weston
12Th Ave
Jean A. Earll
Raney St
Hiawatha
The
Insurance Institute of America
Insurance Women of
Cedar Rapids
National
Asso
Bond futures trading proposed by Chicago Board of Trade
The Chicago Board of Trade board approved a plan to trade futures contracts in medium term U.S. Treasury debt. The proposal announced Wednesday awaits Commodity Futures Trading Commission approval and would allow deliverable non-callable Treasury bonds with similar maturities under the contract.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Chicago Board of Trade
U.S. Treasury
Commodity Futures Trading Commission
Tax bill rises to 60 billion confirms Realtors
The property tax bill in the United States stands at 60 billion dollars, up more than double from a decade ago, according to the National Association of Realtors.
MENTIONED IN THIS ARTICLE
Chicago
UPI
United States
National Association of Realtors
Also Mentioned on This Page
New York Times Service
Blunt, Ellis & Loewi
American Sacanerony
Semon Archer Hels
United Guaranty
Hawkeye Bancora
Elec. Lt. & Pr
Iowa Southern Utilities A
Life Investors. Inc
Pettibone-Mulliken Rath Packing
Rockwell
United Fire & Casualty
Allis
Lindale Plaza
Athlete’s Foot
Ron
Donna Wray Schirm
Humphreys and Associates
Second Ave
Gohman and Associates, Realtors
Geiger
First Ave
Iowa National Mutual Insurance Co
John D. Peterson
Donald Cutler
Casualty
Donald Konsdorf
Property
Arthur J. Schmidt
Iowa State University
Marston Hall
Ames
Davis-Jones-Lamb Agency
Donald B. Carter
USP Real Estate Investment Trust
Life Investors Insurance Co. of America
Piper, Jaffray Inc
Minneapolis
Merton H. Krumrei
Windsor Dr
Modern Woodman OF
America
Fraternal Life Insurance Home
Rock Island
Illinois
Federated Insurance
Lonney Hinderks
Cedar Rapids Area
Hinderks
P.O. Box
Owatonna
Minnesota
Circle America
Stanley Traub
Circle America Real Estate
Northwest Highway
MT. Prospect
Tom Janik
Souvenir, Inc
F Ave
Daii Kalman
Craig Allen
Mgr
Bob Zimmerman
FORD
40Th Street
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