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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 27, 1979
Page
11
United Press International reports a broad composite of New York stock prices with Abbott Labs Aetna Air Products Alcan Alcoa and many others quoted. The table lists last prices and percent changes across multiple sectors, noting ex-dividend statuses and cross markets. Non-specified entries reflect extensive market breadth and varied performance across industries.
In Linn District Court Judge Clinton Shaeffer upheld the city assessor method for valuing Xerox copying equipment used by Linn Mar Cedar Rapids and College districts ruling the proper standard is simple fair market value under state law. Xerox argued for income capitalization claiming leased assets. ruling could have cut about 33000 annually. The case covered 1975 and 1976 assessments with values 2148822 and 1999035.
New York trading shows a mixed session with the Dow slipping to 836.77 while the NYSE index dips to 58.55 as banks raise the prime rate to 11 percent in response to Fed actions. Airlines drive activity with Pan Am rising and National slipping after Pan Am’s majority stake purchase and a rejected Western merger bid.
Prices for No.2 Corn July through September and New crop edged up five cents from Thursday. White corn and oats held steady. No.1 yellow soybeans July to August unchanged, new crop at 7.09, old crop 1.58. Livestock report from Des Moines notes hogs trading slow with several price ranges.
Market news from Chicago and Des Moines reports prices and demand for farm eggs and livestock. Eggs show Grade A large at 46-47c per dozen, mediums 34-37c, other grades 20-41c. offerings light. Webster City reports hog trade good with No 1-3 200-240 lb butchers at 37.25-37.50, other weights 34.50-36.00, sows 29.50-30.00. cattle trading treads quiet, no cattle reported.
Texaco Inc based in White Plains New York reported second quarter earnings up 132 percent from a year earlier and first half profits up 105 percent making it the largest earnings jump among major oil companies. Sun Co followed with a 57 percent rise while Exxon Mobil and others posted smaller gains driven by higher foreign oil prices and looser controls abroad.
Nationwide composite prices for selected stocks are listed as of 11:20 a.m. NYT reported by United Press International. The brief notes stock movements across multiple securities and includes mixed gains and losses in early trading.
Linn Health Service offers financial aid for medical care with assistance details and contact number 398 3543 for eligibility information and application guidance.
Cedar Rapids hog prices fell 1.00 to 1.50 on butchers with packers steady to 550 lbs and sows varying by weight. Bulk butchers 200-230 lbs traded at 36.00-37.00, sows to 550 lbs 27.00-28.50, over 550 lbs 26.00. Several weight breaks cut prices up to 1.00 per 10 lbs beyond 300 lbs. Sioux City hogs 150-240 lbs 37.75-38.25, 260-300 lbs 34.50-36.25, 300-400 lbs 30.50-32.50, sows 30.00-31.00. Cedar Rapids sheep market down 1.00 with spring lambs 55.00-57.00. lambs over 105 lbs discounted. Wheat and corn futures quoted with some price changes.
In Joliet Illinois the Friday cattle sale lacked sufficient bids to establish a market. Hogs weighed 210 to 230 pounds sold at 38.75 to 39.25 and 230 to 240 pounds at 38.25 to 38.75. Gains varied with weights from 200 to 270 pounds and prices from 35.25 to 39.25. Monday forecasts show cattle 3,500 hogs 1,200.
The dollar edged higher against most currencies in European trading. Frankfurt and Zurich quotes rose for the dollar while gold prices fell from Thursday’s close. London and Tokyo rates also showed slight firming, with gold around $305.6 to $305.7 per ounce.
In the no game of duplicate bridge at the YWCA on Wednesday the North south winners were Margaret Blencoe and Virginia Stamy first and Tait Cummins with Phil Cummins second. East west winners were Bruce Cuthbert son and Frank Hellenthal first and Lou Harrington and Jeanie Slaman second. Next game to be held Wednesday at 7 30 at the YWCA. Howell movement winners at Kenwood Park Presbyterian Church on Thursday were Ruth Helm and Mrs Richard Golembiewski first Phil Arnell and Florence Hendricks second and Dick Golembiewski and Margaret Blencoe third. Next game Thursday at noon at the church.
Judith Murphy Thompson, formerly of Cedar Rapids, named a member of Alpha Sigma Nu, the national Jesuit honor society, at Loyola Marymount University in Los Angeles. Also notes include Kappa Delta Pi membership for Marilyn C. Fogelberg at the University of Northern Colorado and several local ads and briefs.
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