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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 08, 1936
Page
36
The AP reports a springtime boom in US business with rising retail activity, stronger orders for winter goods, and faster spring buying. Manufacturing, autos, and freight cars drive gains and the stock market terms Roosevelt tax proposals as bullish, with treasury financing at a high level.
Youngstown district mills will run at 76 percent of capacity next week, the highest in six years, up two points from the prior week. Strong miscellaneous orders helped drive the rise, with 1935 at 54 percent, and earlier years ranging from 31 to 50 percent.
For a man to do furniture upholstery fruit tree pruning refrigerator repair painting grinding furnace cleaning excavating or ash hauling turn to classifications 10 to 14 in the Want Ads.
A vintage article describes a large passenger ship featuring a 245 foot length, 73,000 tons deadweight, four 16-cylinder diesel engines, and a planned speed of 40 mph. It mentions masthead height and passenger capacity with a large voyage cost range of 93 to 268 dollars.
The bond market moved irregularly lower as unsettled foreign politics weighed on markets. Treasuries 27s and 234s led declines with modest losses across other issues, while transfers and sales totaled about seven million dollars, AP averages easing slightly.
Des Moines AP D W Bates state banking superintendent said February deposits paid by closed state banks totaled 358 479 with 1 156 27 in other asset claims. Eastern Iowa recipients include Cascade Farmers and Merchants State Bank 39 736 82 Edgewood Farmers Savings Bank 7 780 20 State Bank of Edgewood 9 999 53 Guernsey Guernsey Savings Bank 7 987 32 Hazleton Iowa State Bank 10 555 76 Malcom Farmers State Bank 7 667 51 Volga Iowa State Savings Bank 31 030 56.
Consolidated Oil Corporation announced in New York that its 1935 net profit reached 11,306,904 dollars, about nineteen times the 1934 figure, with 73 cents per common share. Chairman Harry F. Sinclair called the oil industry in strong statistical health.
The plan calls in Iowa Electric and Iowa Electric Light and Power serial notes and bonds to be refinanced at lower rates. It proposes calling 3.6 million of five percent bonds due 1955 and issuing four percent bonds, plus refinancing about 1.25 million in coupon notes with three percent serial notes. Earlier, 4 million in bonds at five percent were refunded to four percent. Remaining 6 million at seven percent cannot be called before 1941. Proposals for Iowa Electric include 3.75 million four percent bonds and 1.04 million four percent serial notes. Proceeds fund redemption of outstanding issues.
Northwestern Mutual Life Insurance Company expands from farm land and central improved properties to home financing. Loans will be issued on residences in restricted Cedar Rapids areas.
New York foreign exchange table shows cents per unit for nations such as Great Britain France Italy Belgium Germany Holland Norway Sweden Denmark Finland Switzerland Spain Portugal Greece Poland Czechoslovakia Jugoslavia Austria Hungary Roumania Argentina Brazil Japan China Hong Kong Mexico City and cross rates for two cities Montreal and New York. The data includes nominal and travel rates with several percent figures.
AP Minneapolis market notes show wheat receipts for seven cars with prices ranging from 1.06 to 1.37 per bushel for various grades including No 1 heavy dark northern 60 pounds and fancy No 1 hard Montana with protein. Oats No 3 white quoted at 26 44 to 28 percent.
Detroit reports a nationwide spring business drive as budgets rise around 30 percent from 1935. Car makers plan heavy promotions, demonstrations, and economy claims to spur dealer demand in March, with ample stock and renewed field campaigns signaling a fierce market battle ahead.
Combined 24 hour receipts at 20 yards and 9 packing plants in interior Iowa and southern Minnesota totaled 17 100 head, up from 11 700 week ago and 14 400 year ago. Prices mostly steady with Friday, heavy butcher weights up 5 10 cents, lighter weights around 9.30 to 9.85 per hundredweight.
Detroit engineers using a quartz window engine and high speed camera reveal how increasing compression affects ignition and unburned gas explosions inside cylinder walls. The study aims to push gasoline powered cars beyond current limits with a partial solution after more than twenty five years of research.
Business Week estimates that with a 1929 style boom and current tax rates Uncle Sam would collect about 9.0 billion dollars, 34 percent above the 1920 peak and 129 percent above 1929 actuals, though the magazine cautions that 1929’s boom is unlikely to repeat.
U S government issues and corporate bonds fell Saturday while some Goodyear 5s and Walworth resisted. Treasuries reversed earlier gains with losses of 1 32 to 5 32 and the 2 3 4s down 4 32. Italian 7s dropped over a point as foreign issues softened and German 5 12s slid in the low price range.
A strike breaker is shown carrying a picketing sign opposing the nine dollar daily wage and demanding fair conditions in New York, highlighting labor tensions and protest action.
Only slight changes occurred in the local hog market on Saturday. The three lighter grades of good hogs advanced 5 cents while other grades remained steady. The top price held at 9.85 dollars.
Butter unsettled with higher creamery prices. Firsts and extras quoted around 32 to 34 cents. Egg receipts 32,585 with mixed colors and standard grades 24 to 26 cents. Live poultry steady by freight. all prices unchanged.
The New York stock session opened under pressure from war news abroad with declines mostly modest across the market. Copper and aviation issues led gains while major names like General Motors and Chrysler fell, and trading volume reached about 1.47 million shares in two hours.
UHD wheat trading surged as unfavorable European politics and bullish domestic factors lifted prices. May futures led gains while corn and oats posted smaller moves. weekly outlook noted little moisture across the wheat belt and near normal temperatures.
President Charles R. Gay of the New York Stock Exchange urged investors at a Houston chamber of commerce meeting to weigh all factors before investing. He said old standards and normal precepts once viewed as immutable have become impaired in these times.
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