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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 29, 1965
Page
10
New York stocks rose and fell with massive volume on Tuesday. The ticker lagged floorside trades by six minutes at times, and early trading reached the heaviest hourly total since May 1933, signaling volatile market conditions across the day.
In Seoul a student riot left scores injured and 341 arrested during protests over the treaty establishing diplomatic relations between South Korea and Japan. Police faced attacks as demonstrations continued Tuesday.
Chicago reports show a three year low in hog supply with modest demand and mostly steady to weak prices. Slaughter cattle remained steady to strong while hog offerings of 1 90 to 225 pounds sold near 25.00 to 26.25 with a top around 25.50 on lighter activity.
UPI cattle reports show Soux City buyers moving 7,500 head non calves with steers and heifers steady. Choice steer prices at 46.00 to 47.50 and Choice heifers 25.25 to 26.50. Omaha market 11,000 cattle and calves 25 traded moderately with slaughter at 26.25 to 27.50 and Choice heifers 25.75 to 24.75.
Profit cashing pushed old crop soy beans into heavy stop loss selling in Chicago trading. Demand at the set backs was light against large July open interest and belief shorts would need to cover. Wheat saw moderate speculative support. soybeans closed 14 to 54 lower with corn and oats down as well.
New York produce prices show adequate to ample supplies and light to fair demand. Butter is adequate with fair demand. Wholesale bulk cartons list scores and varieties for eggs and dairy, including 4A 40-80 cents, and 59 to 60 cents for 90 score items.
Gasoline used for home cleaning sparked two fires within 22 minutes in Cedar Rapids. A 24 year old woman, Margaret Reilly, suffered minor burns and was treated at Mercy hospital after gasoline fumes ignited by a water heater. No others were injured.
Premier Hendrik Verwoerd said South Africa will not allow Negro scientists to staff three U S satellite tracking stations located in the country. He urged the United States to respect South Africa's segregation policies during a political meeting in Johannesburg.
Irving Chayken a 67 year old Hammond jeweler and bank director sent back the Croix de Guerre to French President de Gaulle via air mail citing disapproval of de Gaulle's stance toward America. He previously received the medal forty eight years ago from France.
Cindy Bloomquist, 144, daughter of Mr and Mrs Jack Bloomquist, is in good condition at the hospital here after swallowing fuel oil Monday.
Local notices report a theft of a money bag containing 219 dollars from Lorraine Wood and a 12 foot aluminum boat valued at 65 dollars. Other items include a bicycle accident injuring John Tisher and a public meeting of the Czech school board at ZCBJ hall.
Washington reports a strong May showing as major indicators point to a gain in the April to June quarter. Personal income rose 2 billion annually, nonfarm employment hit a new May high, jobless rate fell to 4.4 percent, and industrial production inched up 0.5 percent while retail sales climbed to 23.5 billion dollars.
Cap Ueda leads rivals with a 7 to 1 on track. Total U S shipments reach 493 with new supply for track trading. Light demand, market for long whites stronger, reds unsettled. California long whites at 7.00 to 15, California round reds 8.25, Arizona round reds 7.00. Old supplies insufficient to quote.
AP service reports Chicago cash provisions with No 2 wheat at 1.481 and No 2 red at 1.45 from contact notes. Com Na yellow and No 2 yellow wheat prices are cited along with oats No 2 heavy values and soybeans No 7 yellow at 3.02 and soybean oil around 10.40.
A federal suit filed in Cedar Rapids seeks $600 million damages from Collins Radio Co and multiple government entities. Plaintiff Donald Lee Wilson and his minor son Roger Lee claim conspiracies to block his engineering career with demands for various awards, plus calls to halt Collins stock and remove court officials. The filing also notes bankruptcy petitions and municipal water refund plans linked to new water line extensions.
Cedar Rapids officials plan retroactive rebates for water main extensions to homes expanded in the past five years. The council, meeting informally, will follow a state law requiring rebates and expects about $126,000 total. A multi step process will set rebate ordinances and a ten percent yearly refund for up to 15 years, capped by the owner’s water bill.
A 22 year old Nashua man Robert W. Proctor pled guilty before Municipal Court Judge Howard McLaughlin to entering the Cedar Rapids apartment of Jane D. Priebe and Linda K. Duckett. He received a 30 day suspended jail term and was held on a parole violation tied to a Mason City burglary.
Two eastern Iowa teens Philip G. Marti and Michael J. Weber enlisted in the Navy and reported to San Diego Naval Training Center. Laton D. McGrew joined the Marine Corps and went to San Diego Marine Recruit Depot. Airman William D. Erger, re-enlisting for four more years, remains stationed at Nellis Air Force Base Nevada.
Automotive News reports last week auto production by makes and the 1965 year to date total versus the prior year. Chevrolet and Ford lead the counts with several models and divisions including Tok Car Trucks and International figures. totals cover US Canada and Mexico.
A 71 year old widow asks if selling Edison and AT and T shares for 5340 to move into mutual funds was wise. The advisor says avoid hasty moves, notes multiple funds, and suggests switching into an income fund if needed. Recommends clarifying holdings with the adviser and highlights income goals over quick spins.
Fayette county residents urged the county board of supervisors to support Fayette county membership in the Cedar Valley Mental Health Center at Waverly. The board had rejected a $4,000 request. clergy and welfare workers back the membership. The Delwe Presbyterian church gathering endorsed the letter-writing drive.
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