Stocks Erratic Again as Rates, Jobs Data Feed Market
NEW YORK AP The stock market showed an erratic pattern Friday amid conflicting economic signals. The Dow fell about 446 to 37.69 after a morning rally spurred by CitiBank rate cuts, while the NYSE composite slipped over 15 to 491, and the jobless rate hit a postwar high of 9.2 percent.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
First National City Bank
Citibank
Labor Department
NYSE
American Stock Exchange
Second Drop For Futures Slump Hits Chicago Markets
Commodity futures prices fell across the board on Friday as the second straight drop in US futures markets. Soybeans led losses with July at about 4.93 a bushel, corn and oats also down, while wheat slid and activity varied across Des Moines and New York listings with traders noting uneven demand and mixed bids.
MENTIONED IN THIS ARTICLE
Chicago
Spain
Board of Trade
Senate subcommittee probes overseas payments amid bribery admissions
A firm admits bribery to a Saudi partner as Northrop officials prepare to testify before a Senate subcommittee on multinational corporations. The panel investigates overseas payments by U.S. corporations, naming Gulf Oil's four million dollar political donations in South Korea and United Brands' 1.25 million banana bribe in Honduras. The report also notes varied market data and livestock prices from Des Moines and Chicago.
MENTIONED IN THIS ARTICLE
Nua Euawuag Beuriof
Northrop
Senate
U.S
Gulf Oil Corp
South Korea
United Brands
Honduras
Prime Rate at Two Year Low Drops at City Bank
City Bank cut its prime rate Friday from 7 percent to 6.44 percent, lowest in over two years, effective Monday per its formula linking prime to changes in other short term money markets.
MENTIONED IN THIS ARTICLE
New York
First National City Bank
Cedar Rapids Hog Market Steady Prices Reported Friday
The Cedar Rapids hog market showed steady activity with Thursday bids for country and plant delivered butchers 210 to 240 Ibs at 45.50 to 46.00 dollars. Packing sows 300 Ibs down ranged around 40.00 to 40.50, with lighter and heavier weights incurring weight-based discounts. Additional price adjustments applied for butchers and packers across weight grades from 250 to above 500 Ibs.
MENTIONED IN THIS ARTICLE
Des Moines
UPI
Lerisan Broiher
Cedar Rapids
Cedar Roolds Friday Prices and Market Report
Grain and livestock prices show frail demand with cattle and hogs uneven. USDA reports Sioux City market activity with steady to lower prices, while Omaha hogs and sows fall by several dollars with mixed returns across categories.
Britain votes to stay in the Common Market
LONDON AP official returns show Britain voting over two to one to remain in the Common Market in the first national referendum. Christopher Frere-Smith, head of the National Referendum Campaign, said Britain seems to have voted to stay, but warned that a yes may not be final.
MENTIONED IN THIS ARTICLE
London
Christopher Frere-Smith
Britain
Fifteen Plots Against Castro Reported in Book
A forthcoming book by a former FBI agent alleges CIA and three other plots to assassinate Fidel Castro and his brother Raul. It claims some plots would have used Guantanamo Bay as a launch point and suggests possible involvement by the DIA and DEA.
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San Francisco
FBI
Central Intelligence Agency
CIA
Fidel Castro
Cuba
Castro
Raul
Guantanamio Bay Naval Base
Warren Hinche
FAE
William Tuner
Defense Intelligence Agency
Drug Enforcement Administration
Area Superintendent Pay Limit Lift Passed
DES MOINES The bill lifting the $27 500 salary ceiling for area school superintendents passed 62 27 and moves to the Senate. It allows area boards to set salaries while weighing administrator pay elsewhere in merged areas. Debate over new standards stalled. past superintendents exempted.
MENTIONED IN THIS ARTICLE
Des Moines
Senate
Towa House
Higure Appropriations Committee
Ling
Gas Workers Suffocate In Hot Basement
In Columbus three Gas Light Co. workers suffocated inside a hot abandoned auto showroom basement during a routine gas line disconnection. Supervisor Howard Noblitt said there was no gas and the cause was likely oxygen depletion. firemen were alerted when the men failed to return by 5 p.m. The victims were Cox 26 Robertson 34 and Neary Love 26, all of Columbus.
MENTIONED IN THIS ARTICLE
Columbus
Howard Noblitt
Gas Light Co
Nobult
Ohe Cox
Anderson Robertson
Neary Love
Police Slay Father During Attempted Child Killings
In Long Beach CA police shot John Teckel to death after he tried to strangle his 15 month old daughter Maria Maureen Mercher, 25, and Teckel 28 shared an apartment. Officers heard the infant struck against a wall and Barbee fired three bullets. the child survived in satisfactory condition at St Marys Hospital. Teckels death ends a deadly incident minutes before.
MENTIONED IN THIS ARTICLE
Long Seach
Calif
Dpt
John Teckel
Maureen Mercher
Teckel
Ste
Jeckel
Maria
Dave Barbee
Barbee
St Mary's Hospital
Sugar Growers May Seek New Price Supports
Sugar growers in the United States may push Congress to reimpose price supports after a sharp drop in raw sugar prices from a record high last November. The House Agriculture Committee scheduled hearings for July 14 to examine the sugar situation and possible legislation, with Chairman Thomas Foley stressing no preconclusions.
MENTIONED IN THIS ARTICLE
New York
Congress
Washington
House Agricultural Committee
Thomas Foley
Lao Protests Demand Extra Pay from U S Agency
A dozen students and Laotian employees demonstrated at the AID headquarters in Vientiane demanding three months of extra severance pay for 2,700 local staff. The protest blocked an embassy car and halted relocation of mail sacks tied to U S defense offices as Pathet Lao seeks control of all compound property. Agreement to turnover AID missions and property by June 30 was reportedly near, with talks ongoing on the pay demand.
MENTIONED IN THIS ARTICLE
Vientiane
Las
Agency For International Development
U.S
Pathet Lao
Thes
Legislative Official Nabbed For Levi Theft
PITTSBURGH AP Three persons including the sergeant of arms of the Pennsylvania house of representatives were arrested in the theft of 363 219 in Levi Strauss pants. The FBI said thousands of stolen pants worth about 185 000 were recovered from a Westmoreland County garage and warehouse. Arrested were Stephen Perrone 46 of Swissvale the sergeant of arms Albert Veltri 45 of Carraghist Westmoreland County and Andrew Marapess 53 a New Castle contractor. They were arrested at a restaurant Wednesday night and were to be arraigned before U S District Magistrate Robert Mitchell. The theft occurred December 20 from the Southern Railway yard in Cincinnati and involved stripping from the Levi Strauss plant in Knoxville Tenn to its plant in Florence Ky.
MENTIONED IN THIS ARTICLE
Pittsburgh
Pennsylvania House of Representatives
FBI
Westmoreland
Stephen Perrone
Swissvale
Albert Veltri
Carragh
Westmoreland County
Held on Stolen Property Charge Against John Helm
John Helm of route three Cedar Rapids faces a receiving stolen property charge after a car stolen on December 31 1973 was recovered. Police say Helm altered the vehicle by removing serial numbers and repainting it before registration. He was arrested Thursday and held in Linn County jail Friday on a 40000 dollar bond as investigations continue.
MENTIONED IN THIS ARTICLE
John Helm
Cedar Rapids
Helm
Potice
Linn County
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