Mild Friday Upswing Lifts Dow Jones
The stock market recovered part of earlier losses with a mild afternoon upswing in New York. Trading stayed quiet as the Dow Jones average rose 5.16 to 824.47.
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 14, 1975
Page
3
The stock market recovered part of earlier losses with a mild afternoon upswing in New York. Trading stayed quiet as the Dow Jones average rose 5.16 to 824.47.
The Cedar Rapids hog market Saturday showed higher prices with Friday’s bids for bulk country and plant delivered butchers 210 to 240 lbs at 48.00 to 48.50 as grades and condition varied. Packing sows down to 400 lbs were 41.50 to 42.00, while heavier butchers above 240 lbs received 25 cents less per cwt and grades above 500 lbs were discounted. Major markets also reported mixed grain and cattle notes across Des Moines Chicago and Omaha with variable demand and firm undertones.
Iowa and southern Minnesota packing plants report receipts near 40,000 for this week, with butchers up to 50-1.00 higher and demand firm in places. U.S. 1-3 cut values for various hog weights and sow prices are listed, alongside Waterloo guides noting higher sow bids and packing-delivery delays. Chicago cash grain closes with mixed wheat corn and soybeans pricing.
Robert Poeschi of 1000 Fortytwo street SE was fined 28 dollars and costs for possession of a controlled substance. Charges against John Long of 2895 Sixteenth Avenue Marion and Scott Chadima of 401 Red Fox Road SE were dismissed. A charge of resisting execution of process against Michael Casey of 212 Eighteenth Street NE was also dismissed.
In Jackson Mississippi seven neighborhood pools now operate and welcome all races twelve years after public pools were closed to avoid integration. Recreation director Monroe Williams said openings went smoothly and Friday was a good day. Three pools remain to be opened later.
John Profumo, former British war minister who resigned after a liaison with Christine Keeler, is honored on the royal list for his work aiding London's poor as Queen Elizabeth marks her official birthday.
President Ford approves a 15 billion supplemental appropriation containing a provision that blocks federal unemployment benefits between school terms for elementary and high school teachers, principal administrators, and researchers with contracts for both terms. The measure affects roughly 12 million workers in state and local government, household, and farm sectors under a federally financed special unemployment program.
EPA deputy chief John Quarles warned that eliminating man made poisons and possible cancer causing substances from U S water could end near free drinking water. He said current 50 year old methods leave contaminants and new tech will raise water prices though he did not specify by how much.
FBI agents uncovered a second large cache of goods stolen from the Indo China refugee center near Camp Pendleton and Vista California. Items valued at about ten thousand dollars included military jackets blankets bed sheets and baby supplies. Moody a marine logistics officer and Annmarie Michalski a navy dental technician surrendered and were arraigned.
The Civil Aeronautics Board rejects nationwide fare increases for most airlines but allows 18 major domestic carriers to extend a 4 percent rise for six more months starting in November. The agency warns cheap fuel days may be over and future fuel cost hikes could be offset by service reductions.
In Barnsley England AP report the death toll from a coal mine explosion climbed to five as searchers recovered three bodies believed trapped by gas. Earlier two miners died in the blast 1200 feet below the surface and sixth man was wounded.
Paris AP report says oil producers and industrial nations set up a World Bank lending arm called the third window to loan 1 billion dollars to the poorest developing nations. The U S reportedly declined to pledge funds amid concerns about political backlash against supporting IDA and potential Congressional opposition.
Rep Ohm Young Dal says South Korea is capable of building its own nuclear weapons if the US withdraws from Asia. He and five fellow lawmakers tour the United States to thank Americans for wartime sacrifices as experts note Seoul's capability.
Atlanta officials credit a voluntary desegregation busing plan for stabilizing white enrollment as the main feature. The program uses selective transfers to balance racial makeup and has eliminated predominantly white schools. Officials note strong recruitment and radio aided buses. King, NAACP alumnus, says the plan swapped busing for integrated administration.
The Senate Finance Committee approved a bill to extend unemployment benefits up to 65 weeks in states with high insured unemployment and sent it to the full Senate for debate. The plan tiers 65 weeks at 6 percent+ rate, 52 weeks at 5-6 percent, and 39 weeks under 5 percent, starting July 1.
Cedar Rapids residents report multiple incidents and community notices: tires stolen from a car at Luedeman’s Tire Service on F Avenue NW, with items valued at $200. a color television taken in a residential break in on B Avenue NE. $96 cash stolen from a money bag in Armstrong’s backroom. a coat and tools also reported missing from various locations. Community events include a World War I veterans picnic at Bever Park Grand View pavilion, a Sunday garden open house in Marion for National Rose Week, and Arm strong’s Beauty Salon announcing appointment starts. notices for local theater and jewelry ads appear alongside business open hours and model calls.
Roger W Nevolny of Cedar Rapids has earned a Master of Science degree in mechanical engineering from Purdie University. The ceremony marked his completion of the graduate program and acknowledges his academic achievement.
LISBON AP reports Portugal nationalized bus companies to push a state driven Se model. Government action targets transport control and public services while signaling broader reform plans.
Machinists Local 31 began picketing Midland Forge Inc at 101 Fiftieth Avenue SW at midnight Friday after rejecting the latest contract offer. About 165 union members had been working under an extended contract since June 1 as talks center on wages contract language length and a cost of living clause. Company officials had no comment beyond noting wage gains would continue.
Derby director Leo Roper announced at a committee meeting that all 48 cars are sponsored for the July 13 race. The entry list includes six girl drivers, the largest female contingent in the event’s year-long history, with sponsors contacting groups to provide $25 savings bonds to winners.
Walter F. Kidde and Co. filed in Linn district court Thursday seeking 87,552.95 from Alloy Metal Products for a defective milling machine purchased from LeFebvre Corp. Damages include 22,744.87 for purchase price, 567 for repair costs, and 64,280.03 for lost profits and business interruption. Five years ago a White House commission led by Gov William Scranton was formed to study violence on campuses.
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