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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 29, 1941
Page
12
The US faces a sharp 20 percent rise in wholesale basic commodities in four months as wartime demand and defense orders strain supply. Food and clothing costs climb, rents rise locally, and imports from Europe remain scarce, with botanical drugs and olive oil surging in price.
The Associated Farmers of California board on Saturday urged all possible aid to Russia. They proposed placing Nazis in concentration camps and sending communists to Moscow as part of the policy.
Heavy selling after Henderson warning drives grain and oil prices down in Chicago. Wheat drops four cents while corn, soybeans, rye and lard fall. late gains for wheat offset earlier losses. Rain and moisture forecasts support wheat, with oil and fats moving alongside the slump.
The column lists prices for CORN OATS BARLEY BUCKWHEAT RYE SOYBEANS and LARD with grades No 1 No 2 No 3 mixed white heavy and sample grades. Prices appear in cents per unit and dollars per hundredweight, including LARD at 3.90 per unit and U S A seal belly prices around 12.62 to 10.13.
Market report shows steady butter receipts at 23.52 per 100 pounds with varied scores. Eggs receipts unsettled with mixed firsts and extra items. cheese with Twins and daisies and Lonehorns listed. Potatoes arrivals and on track shipments high, with Idaho russets and Burbanks around 1.60, California long whites at 32.00 to 72.10, Bliss varieties 2.20 to 2.40, Missouri cobblers 1.28 to 1.60. Futures notes include refrigeration standards and October prices around 28.95.
Market roundup notes small gains in major averages with rails and utilities showing modest shifts. Industrials and specific rail groups register slight declines as investors parse Saturday transaction totals and price changes across the Dow components.
THOMAS TM. JOHNSON assesses Soviet mechanization and pilots, noting Finland war lessons, large divisions and 22 cavalry units, 12,000 tanks, and 5,000 first line planes. He warns of weak rail logistics, reliance on foreign blueprints, and the aim to strike Caucasus oil and Ukraine wheat.
Grain quotes supplied by Lamson Brothers and Company. Phone auxiliary line 2 3141. H R Mowrey oversees Cedar Rapids office from 503 Merchants National Bank building.
Bond trading in New York on Saturday was slow with prices mixed and fractional declines prominent. Government bonds were dull, transfers totaling 2,982,550 compared with 5,038,600 last week. Some rails softened while Japanese bonds fell up to a point. select issues edged higher including Chicago Milwaukee and St. Paul 5s, Delaware and Hudson Refunding 4s, Illinois Central 4 3 4s, and International Marine 6s, while New York Central 5s and Southern Pacific 4% bonds declined.
The market closed a fairly successful week with hesitancy as war worries and weaker commodities tempered buying. The Associated Press average held at 41.7, up slightly for the week, with 139,550 shares traded versus 125,200 prior. Gains included Canada Dry and American Can, while U S Steel and Eastman Kodak led declines.
List of farm and produce prices in Cedar Rapids including grains vegetables fruits and meats. Items cover wheat corn beans hay poultry hides and various produce with prices per unit or container. Some entries reference cauliflowers and citrus while others list animal skin values and horse prices.
U S Department of Agriculture data show hog receipts at 300 with hogs selling steady. top at $11.00 and averages around $10.84 for barrows and sows. cattle receipts 100 with mixed declines and some sharply higher prices for Prime yearlings at $12.75 and best steers around $12.35. vealers and cows down, with heavy freight steers near $10.25 to $11.00. sheep receipts 200 with spring lambs about $7.50 to $12.00 and fat sheep near $10.60 to $11.75, prices mixed by weight and grade.
A three judge panel permanently disbarred Richard F. Boyer a 29 year old Des Moines attorney for defrauding client Mrs Jane R Dilley widow of a Des Moines physician of about 23000 The judges named were Paul H Mc Cord Henry Graven and O S Thomas The court ruled suspension was insufficient and that defrauding a client warrants permanent denial of the privilege to practice law.
An Illinois crash at a rural Kaneville intersection killed five people and seriously injured two others. Victims include Lewis Taylor of Chicago, his wife Anna, Allen Cogswell of Chicago and his wife Oris, and Frank Propernick 38, a salesman near Aurora. Two other men in Propernick’s car were seriously hurt.
Markets showed early gains of 1 to 4 a share but faded. AP index up 0.30 from last week. Commodities led with cottonseed oil and cotton at multi year highs while wholesale food prices rose sharply. Steel, electricity and rail freight set record or near record outputs as defense production accelerates. Government projections expect national income near 85 billion dollars in 1941.
London papers condemn P G Wodehouse for accepting a German invitation to broadcast on a Nazi station. He is a prisoner in Germany since France fell and resides in a Berlin hotel. Critics say he erred though some defend him as not showing hostility to Britain. The Daily Mirror calls his remark a bitter joke against his country.
Cedar Rapids bank clearings last week totaled 1,663,226.01 dollars, about half a million more than the same week a year earlier and well above the prior week’s figure. The Clearing House report shows 1,663,226.01 for the week ending June 28, compared with 1,414,582.48 the week ending June 21. In 1940 the week ending June 29 totaled 1,103,484.05 dollars.
One twelfth of Australia’s rubber imports come from the island of Papua. Analysts note this ASEAN region source supports domestic production and price stability amid global shortages. Local growers seek steady contracts to capitalize on rising demand.
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