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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 25, 1977
Page
15
The broad market advanced on Friday as investor worry over rates eased. The Dow Jones averaged 929.70, up 4.33, with gainers outpacing losers by over 2 to 1 and NYSE composite rising to 55.42.
UPI reports slow to moderate livestock trading with higher butcher and sow prices for 200–330 lb categories and steady to higher heavy hogs. Estimated receipts 40,000. markets include First Mid-America quotes and Midwest meat trade notes with mixed beef, pork, and belly prices and commodity quotes from AP Chicago for wheat corn oats and soybeans.
In Chicago, late commercial buying sparked short covering and speculative demand across the soybean complex lifting most deliveries on the CBOT. Soybeans rose 6 to 1814 cents, July at 7.56. oats up 3 to 34, July 1.3344. corn ranged from 34 lower to 34 higher at 2.24. wheat fell 1 to 134, July 2.40.
Friday quotes from Cedar Rapids show hog prices up 50 cents for delivered butchers 200 to 230 pounds and adjusted ranges for heavier weights. Sheep and lamb prices noted at 50 to 51 dollars for spring lambs. Grain futures moved higher with old and new crop corn and soybeans advancing on the Mississippi River markets at Davenport. Prices provided by Pro Farmer Grain Cedar Rapids.
Ottawa announces a 34 cent per thousand cubic feet rise in natural gas exports to the United States effective September 23. The new price is 2.28 Canadian dollars per thousand cubic feet, about 94.37 U.S. cents, with further equal increases every six months beginning July 1, according to Energy Minister Alastair Gillespie.
Cedar Rapids brief notes a Recovery Afternoon group for nervous and former mental patients meets Mondays at 1 p.m. in the basement of First Christian Church at 840 Third Avenue SE. Open to the public with discussion on Spot Diagnosis.
In Linn district court the April 25 speeding charge against Robert H. Engelken was amended to a muffler violation, resulting in a $100 fine. David R. Hughes, charged March 20 with failure to report a personal injury accident, was fined $50. Leslie W. Newton had a false statement charge under the Iowa employment security act dismissed. George W. Smith was fined $50 for intoxication. John W. Frese received a deferred sentence for drunk driving. Robert J. Caspers was fined $640.50 and costs for driving an overloaded vehicle exceeding 10,000 pounds.
Magistrate's Court in Cedar Rapids fined defendants including Jeff D. Melsha and John S. Klopp varying amounts up to 100 dollars plus costs for speeding improper lights improper passing defective equipment and other traffic violations. The notices name dozens of individuals with addresses from Cedar Rapids to Marion and Ames with fines ranging from 10 to 100 dollars and costs.
Belle Plaine reports a 175000 gallon water loss from a water tower after a 12 inch line break. Mayor Jerry McIntire cites unknown cause and says Manatt Carter will inspect the pipe to determine the malfunction. Water main supply was tied to the line to serve parts of town without water due to a shortage.
Thirty years ago the Iowa weekly crop bulletin notes adverse weather cut corn crop prospects to 85 percent of normal, signaling reduced yields.
London AP reports the 44 year old Duchess of Kent is expecting her fourth child in February. The household says she will be the oldest royal to give birth in about 150 years, per a genealogy expert. It follows two other royal birth announcements this year.
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