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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 07, 1942
Page
14
The WPB and war leaders suspend new plant construction to focus on essential weapons. Congress debates expanding steel use, shipbuilding, and defense funding amid rising wartime costs and inflation fears. The piece notes payroll, tax concerns, and broad U S deployments abroad.
Grain quotations are furnished by Lamson Brothers and Company. The Cedar Rapids office is managed by H. R. Mowrey located at 503 Merchants National Bank building. Phone 2 3141.
Markets show steady to firm tones across poultry dairy and produce in New York Chicago. Dressed poultry list notes various prices for young hens toms old hens and breeders with live poultry figures for hens roosters ducks and broilers. Cheese prices firm following government purchases with Wisconsin and state flats quoted. Chicago receipts and egg market show unsettled tendencies with price spreads by quality. Potatoes arrivals and on track shipments indicate light supply and firm to rising values for white and washed varieties.
Wall Street extended gains amid profits taking as investors cheered U S naval success in the Pacific. Utilities and steels led advance while mixed sectors such as grains and bonds kept overall momentum steady, with notable moves in Bethlehem, U S Steel, General Motors, and United Aircraft.
Market listings show grain and feed terms for No 1 and No 2 wheat oats rye corn and soybeans with prices. Hay straw poultry and egg items priced by weight and quality. Wholesale fruits vegetables hides and animal products listed with assorted prices and crate counts.
Detroit dispatch reports after six months of armament production since Pearl Harbor that the Automotive Council of War Production finds orders mounted sharply. They cite orders exceeding 14 billion dollars, six month deliveries up 50 percent from earlier arms shipments, and a total value on hand equaling one third of initial orders, with the industry likened to turning out 15 million cars and trucks for wartime needs. Alvan Mac Cauley hails mass production as the power that can overwhelm enemies.
Linn County Abstract reports a drop in recorded mortgages and conveyances for May. Conveyances totalled 300 in May 1942 versus 309 in 1941 and 337 in 1940, while mortgages numbered 127 in May 1942, down from 183 in 1941 and 208 in 1940. May mortgage totals amounted to 363,183.69 dollars, with 475,140.69 in 1941 and 604,274.78 in 1940.
Chicago AP reports livestock prices held steady on Saturday after irregular weekly swings. Hog supplies were light with 300 head on sale and 8 000 direct, top quotation $14.30 per hundredweight, while weeklong shifts left hogs down 15 to 25 cents. Cattle, calves, and sheep receipts were modest and lambs rose slightly, with spring lambs at 14.50 to 15.15.
Local market reports show hogs steady with varied lamb quotes by weight. Buyers saw prices for 65 to 90 pound lambs from about 9.50 to 14.00 per unit, with higher grades listed for 11.50 to 12.50 in mid ranges. Ewes and feeder lambs priced per quality with ranges noted for 120 to 180 pound ewes and 150 to 180 pound rams.
Bank clearings in Cedar Rapids for the week ending June reach 1,871,234.98 dollars, ahead of the same week last year after a brief lapse. The June 7 week totaled 1,775,930.20 dollars while the May 29 figure was 1,160,952.0 dollars.
Salable receipts cattle 400 with calves none. Steers, yearlings and heifers largely weak to 28 cents lower. cows steady to weak. stockers and feeders strong. Hogs steady with good 240–300 lb makers at 13.80 to 13.85. Sheep market weak with lambs 50 to 1.00 lower and ewes around 4.25. Idaho and California springers and pelts noted.
Fragmentary OCR summary notes futures furnished by Samsen Bros and GE Rutter Storage standards across months June November October. Text is garbled with unclear terms and missing context. No clear events, figures, or entities beyond these partial names and months.
The Linn County Abstract Co reports 26 new cars and six new trucks registered in May. Compared with a year ago May totals of 474 cars and 71 trucks, the May truck registrations mark the highest four month level. In April 24 cars and three trucks were registered.
Stocks firm in moderate trading with mixed results across markets. Wheat and corn prices moved lower amid general market volatility. Specific figures for Konds and Curb stocks show irregular activity and slight declines in Chicago listings.
An out break of selling sent the grain market lower on Saturday undoing several days of strength. Rye led the decline dropping toward year’s lows while soybeans and corn fell, with prices near 1942 lows as harvests loom and cotton softens. Wheat retreated about 44-11% cents from Friday with July and September futures down.
Chicago livestock prices show hogs steady to 14.30 top with losses for week. Cattle receipts 100, fat cattle weak late. steers to 16.60, heifers 14.35, bulls and stock cattle mixed. Sheep receipts none. lambs steady to 15 higher. top lambs 15.15 with ewes at 4.50 to 6.00.
Merryle Stanley Rukeyser argues the SEC finds excessive shifts into government war bonds from other savings. He explains that buying from current income reduces inflation more than drawing on existing savings, and warns Treasury funding may distort the stock market and inflation control goals.
A AP report from Austin Minnesota lists meat prices in detail. Various weight ranges for beef and pork are shown with price per hundredweight. Descriptions include good packing sows and dozens of weight brackets from 160 to 500 pounds with fluctuating price points.
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