Favorable Causes Lift Industry Activity Across Nation
The AP reports a springburst of business and industry activity as winter orders clear and spring goods rise. Retail and wholesale sectors show gains, weather aids shopping, and the AP index nears five year highs. Treasury financing and Roosevelt tax plans boost bonds and stocks with strong subscription demand.
MENTIONED IN THIS ARTICLE
Rader Winget
Associated Press
Steel Shifts to 70 Percent Capacity in Youngstown
Steel ingot operations in the Youngstown district will reach 70 percent of capacity next week, the highest in six years, marking a two point rise driven by miscellaneous orders. The 1935 level was 54 percent, with 1934 at 56 and prior years lower.
MENTIONED IN THIS ARTICLE
Youngstown
Classified Music? No. Worker Ads For Odd Jobs
Classified ad notes that a man can perform various odd jobs including furniture upholstery painting grinding pruning furnace cleaning excavation and ash hauling and directs readers to classifications 10 to 14 in the Want Ads.
Bond Market Slips on Foreign Political Fears
The New York bond market drifted lower amid unsettled foreign political developments. Major foreign issues fell by fractions to over a point while some low priced rails declined. U S government issues were mixed with Treasury 278s and 274s around 1 16 point. total sales just above $700,000 and transfers at $7,437,000 par value. The Associated Press averages were steady to slightly down.
MENTIONED IN THIS ARTICLE
New York
U. S
Treasury
Associated Press
Closed Banks Pay $358,479 in February Deposits
Iowa banks that closed last month paid $358,479 to depositors in February. The report from state banking superintendent D. W. Bates also noted $1,156.27 paid on other asset claims. Eastern Iowa payouts included Cascade-Farmers and Merchants $39,736.82 Edgewood-Farmers Savings $7,780.20 State Bank of Edgewood $9,999.53 Guernsey Savings $7,987.32 Hazleton Iowa State $10,555.76 Malcolm Farmers State $7,667.51 Volga Iowa State Savings $31,030.56.
MENTIONED IN THIS ARTICLE
DES Moines
D. W. Bates
Bates
Iowa
Cascade — Farmers and Merchants State Bank
Edgewood — Farmers Savings Bank
State Bank of
Edgewood
Guernsey—Guernsey Savings Bank
Oil Corp Reports Major Jump in 1935 Net Profit
Consol idated Oil Corporation reports 1935 net profit of 11,306,904 or 73 cents a share, up from 553,282 in 1934 after preferred dividend adjustments. Chairman Harry F. Sinclair says the oil industry is in the soundest position in years.
MENTIONED IN THIS ARTICLE
New York
Consolidated Oil Corporation
Harry F. Sinclair
Light Companies Seek Bond and Note Refunding Plan
A plan to call in all serial notes and bonds of Iowa Electric and Iowa Electric Light and Power seeks federal approval. It would refinance $3.6 million of bonds and $1.25 million of coupon notes at 3 to 4 percent, with some issues maturing to 1955 and 1940, to redeem outstanding debt. The Iowa Electric plan also targets $3.75 million in four percent bonds and $1.04 million in four percent serial notes. Proceeds support debt retirement.
MENTIONED IN THIS ARTICLE
Iowa Electric
Iowa Electric Light and Power Companies
Iowa Electric Light and Power Company
Federal Securities and Exchange Commission
Iowa Electric Light and Power
Iowa Electric Company
Northwestern Mutual Enters Home Loan Field
Northwestern Mutual Life Insurance company shifts from farm land loans to home financing. The firm will issue loans on Cedar Rapids residences in restricted areas, expanding its real estate lending beyond prior farm and central improvements.
MENTIONED IN THIS ARTICLE
Northwestern Mutual Life Insurance Company
Cedar Rapids
Foreign exchange rates and currency demands listed
New York reports foreign exchange demands in cents for many nations and cities. Rates cover Great Britain France Italy Belgium Germany Holland Norway Sweden Denmark Finland Switzerland Spain Portugal Greece Poland and more, including Tokyo Shanghai Hong Kong Mexico City Montreal and Montreal.
MENTIONED IN THIS ARTICLE
NEW York (Ap
Great Britain
France
Italy
Belgium
Germany
Holland
Norway
Sweden
Denmark
Finland
Switzerland
Spain
Portugal
Greece
Poland
Czechoslovakia
Jugoslavia
Austria
Hungary
Roumanian Ase Aggntine
Brazil
Tokio
Shanghai
Honkon
Mexico City
Montrea
New York
Montreal
Minneapolis cash grain Wheat and oats prices rise on receipts
Minneapolis AP reports 87 wheat car receipts with price gains across several classes. No. 1 heavy dark northern 60 lbs ranges from 1.26 to 1.37 with arrivals at 1.22 to 1.24 next. Oats No 3 white quoted at 26 to 28 cents.
MENTIONED IN THIS ARTICLE
Minneapolis
Cash Grain
Montana
Spring auto industry ramps up as budgets rise
Detroit reports a 30 percent budget increase over 1935 as auto makers launch a spring sales drive. With March pivotal, firms push aggressive advertising and demonstrations to boost economy claims, comfort and operation while field stocks and factory outreach intensify the promotional push.
MENTIONED IN THIS ARTICLE
Detroit
Mich
Iowa Hog Receipts Use 24 Hour Iowa Minnesota Totals
U S Department of Agriculture reports combined hog receipts at 20 yards and 9 packing plants in interior Iowa and southern Minnesota for the 24 hours to 8 a m Saturday. Total 17 100 head, up from 11 700 a week earlier and 14 400 a year ago. Prices mostly steady. light and heavy weights show varying bids with ranges from about 8 20 to 9 95 per cwt depending on weight class.
MENTIONED IN THIS ARTICLE
Des Moines
U. S. Dept. Agriculture
Iowa
Minnesota
King
New device shows actual compression explosion in motor
Detroit scientists at General Motors reveal high speed cylinder photography that shows how increased compression can trigger unburned gas ignition and a second explosion. The study aims to extend gasoline power beyond current limits as engineers seek partial solutions after more than 25 years.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Research Laboratories
Present Tax Rates Would Enrich Govt If Boom Times Came
Business Week estimates that a 1929 style boom with current tax rates would yield Uncle Sam about 9.0 billion dollars in income, 34 percent above 1920 peak collections, and 129 percent higher than 1929 receipts, though the magazine cautions the 1929 boom won’t repeat.
MENTIONED IN THIS ARTICLE
New York
Uncle Sam
Business Week
Market decline as Germany actions weigh on Treasury and corporate bonds
U S government and corporate securities mostly ease amid German troop movements into the Rhineland and Locarno pact repudiation. Treasury loans retreat from week highs with 24s and 2 1 2s losing several eighths. mixed shifts among Santa Fe St Paul Columbia Gas and Electric and Southern Pacific notes while Goodyear Walworth resist. Italian 7s drop over a point as other foreign issues remain quiet.
MENTIONED IN THIS ARTICLE
New York
U. S
Germany
Rhineland
Treasury
Government
Santa Fe
St. Paul
Columbia Gas and Electric
Southern Pacific
Goodyear
Walworth
War Drums Push Stocks Lower In Mixed Market
The New York stock session swung down as war tom-toms abroad weighed on sentiment though copper and aviation shares led gains. Major indices fell modestly with declines in General Motors and Chrysler and several industrials. over 1.47 million shares traded in two hours as oil hopeful Amerada rose seven points amid a broad reshuffle.
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New York
Europe
Anaconda
American
Cerro de Pasco
Inspiration
Boeing
United Aircraft
Curtiss-Wright
Amerada
Ritter
Bristol-Myers
Central Aguirre
Crown Cork and Seal
Myers and Brothers
McCrory “A
Westinghouse
Great Northern
Union Pacific
Striking Back in New York Man Carries Picket Sign
A strike breaker is shown carrying a picketing sign demanding fair conditions and opposing a nine dollar daily wage in New York.
MENTIONED IN THIS ARTICLE
New York
Local hog market shows slight gains on lighter hogs
Only slight changes were seen Saturday in the local hog market. The three lighter grades of good hogs rose 5 cents while remaining grades held steady. The top price remained at 9.85 dollars.
New York Produce Price Report
New York dairy and produce quotations show butter receipts at 7 299 unsettled with creamery higher than extra and various price points. Cheese receipts near 115 485 steady with state whole milk flats pricing. Eggs receipts 32 585 unsettled with mixed colors and standard grades priced 25 26c, firsts 24c, seconds 23 12c. Live poultry steady by freight with all prices unchanged.
MENTIONED IN THIS ARTICLE
NEW York Produce
NEW York (Ap
Wheat Prices Jump on Political News and Weather
Sharp gains in wheat on the Chicago board of trade driven by unfavorable European political news, dry southwest weather, strong cash demand, and foreign market support. May leads gains with 1to 1 8 cents, corn and other grains rise modestly. weekly outlook mixed as moisture remains scarce.
MENTIONED IN THIS ARTICLE
Chicago
Europe
Board of Trade
Winnipeg
Govrnment Board
Liverpool
Buenos Aires
Old Standards Of Investment Gone
President Charles R. Gay of the New York Stock Exchange urged investors to weigh all factors before investing. Speaking at a chamber of commerce meeting in Houston he said old standards and norms that once guided investment have become impaired.
MENTIONED IN THIS ARTICLE
Houston, Tex
Charles R. Gay
New York Stock Exchange
The
Chamber of Commerce
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