Trade Active on Aimless Market Day in New York
Stocks fluctuated amid a 4.2 billion money supply surge raising Fed tightening fears. Dow fell 0.86 to 861.23, NYSE down 0.02 to 56.18 with 1,746 issues traded. Massey Ferguson led activity with a block of 332,500 shares at 1034.
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New York
UPI
Federal Reserve
New York Stock Exchange
Fed
NYSE
Massey Ferguson
Des Moines Livestock Prices and Receipts Report
UPI reports slow trade and light to moderate demand in lowa hog markets. Butchers steady with sow prices around 50 and 1 to 3 weights ranging from 41 to 48 dollars, with various price bands listed for 200 to 550 pound hogs. Estimated receipts: 40,000 today, 60,000 Thursday, 10,000 Saturday, 53,000 week ago, 44,000 year ago.
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Des Moines
UPI
Joliet
Cedar Rapids cash livestock and grain prices report
The Cedar Rapids market shows hogs steady on butchers and lower on sows with 200 to 230 lb prices around 48.00 to 48.50, sows 41.50 to 42.50, and lighter weights discounted. Sheep quotes fall a dollar, lambs 59 to 61, corn soybeans and oats move on the June July and 1978 crops with prices listed for No 2 corn and soybeans.
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U.S. Sues Exxon Over Oil Overcharges
The United States sues Exxon Corp for 183 million dollars in alleged overcharges on crude oil sold under a two tier pricing system after the 1973 embargo. The suit cites Hawkins Field Texas and shifts of wells to new wells to justify higher prices.
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Hawkins Field
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California tax cut sparks U.S. windfall, expert says
An AP report notes California Proposition 13 would cut state property taxes by about 7 billion dollars but could lift federal taxes by roughly 2 billion as taxpayers lose deductions. The assessment warns actual gains may be smaller if many California filers owe no federal income tax. White House aide Rex Granum says Carter sees broad support that taxes burden middle income families.
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California
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Iowa to Open 16 Late-Hour State Liquor Stores
Iowa announces 16 state liquor stores will stay open 10 am to 10 pm under a new law with $150000 extra funding. Locations cover cities over 25000 population including Des Moines West Des Moines Iowa City Cedar Rapids Ames Cedar Falls Mason City Clinton Fort Dodge Dubuque Council Bluffs Bettendorf Sioux City Burlington Marshalltown and Ottumwa.
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Ottumwa
Three-alarm fire damages apartment above Goody's Lounge
Early today a three room apartment above Goody's Lounge in Jesup caught fire about 5:10 a.m. No injuries were reported. Police officer Jerry McGlaughlin extinguished the blaze before fire crews arrived. Fifteen firefighters controlled the fire in 30 minutes. smoke damaged three adjacent units and nearby lounge and laundromat. Cause under investigation. building owned by Ray Hagarty.
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Jesup
Goody’s
Patrick Vogel
Jerry McGlaughlin
Jesup Laundromat
Ray Hagarty
Editor Jaime Plenn Dies at 73 in Mexico City
Jaime Plenn, editor author and foreign correspondent, died after a heart attack at age 73. He authored Saddle in the Sky and Mexico Marches and had served as managing editor of the Mexico City News for 11 years. Robert McNamara, current World Bank president, is 62.
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Jaime Plenn
Plenn
Mexico
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