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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 09, 1933
Page
2
Chicago AP reports hog prices retreat as ample supply from nearby farms floods the market. Trade moves slowly with 180 to 260 pound hogs quoted around 4.00 to 4.25, while overall receipts emphasize a steady to soft tone across cattle and sheep markets in St Louis and Des Moines areas.
Sugar sales remained firm in New York with prices advancing early by about 2 points to 10 cents for fine granulated sugar. Trading activity was sizable as inquiries rose and large business was reported. Flour prices show mixed gains while grain and tin futures mark cautious movement amid currency shifts and market volatility.
Market notes show unsettled receipts and mixed quotes across poultry and eggs. Chickens and turkeys firm or unchanged with freight costs. New York and Midwest exchanges report varied standards and nearby specials. overall activity remains cautious amid fluctuating prices.
Unease in Liverpool and hedging pressure pushed Winnipeg grain prices down on the Winnipeg exchange. May closed at 50 1/2 cents, July at 51 1/2, and October at 53 cents, with values 1 to 2 cents lower on the day.
Hogs weakened on the local market Wednesday with all grades down about 20 cents. Top price dropped to 3.20. Calf market notes demand for choice 140-180 lbs and 130-190 lbs. Sheep market shows choice lambs 75-85 lbs at 3.50 to 4.50, other grades vary by quality.
Receipts: hogs 10 000 very uneven better grades 170 210 lbs to be lower. top $3.85 for 170 210 lbs. Hogs 210 250 lbs $3 40 6.37 5 scattered 250-350 lbs $3 35 3 50 sows $2 90 4 0 6 275 feeder pigs scarce average cost Tuesday $3 66. Cattle receipts 8 000 calves 500 fed steers and yearlings very slow bids down 25¢. most fed steers and yearlings $4 25 5 50. heifers $4 50 5 04 75. beef cows $2 35 2 75. cutters $1 60 2 25. bulls $2 75 6 40. Sheep receipts 32 990 mostly killers lambs opening 25¢ lower. fed wooled lambs $5 15 4 5 35. ewes to $2 75. average 72 lbs. $5 00.
Iowa and southern Minnesota hog receipts for a 24 hour period ended 8 am Wednesday totaled 16590 head, down from 19800 a week prior and 18500 a year ago. Market appears uneven with liberal movement expected, as Wednesday trade shows mostly 10 to 20 cents lower. Prices shown for various weight ranges across plants indicate mixed demand and plant quotes, with lighter weights around 140-160 pounds at about 300 to 335 dollars and heavier weights from 259 to 350 pounds in the 260 to 360 dollar range.
A Cedar Rapids market listing shows prices for hay straw and produce including wheat oats rye barley corn and fresh fruits and vegetables. Notable items include pears celery lettuce crates oysters and various hides with prices per unit or per pound.
Directors of the Kansas City livestock exchange decided to close the market on Friday due to inability to transfer balances from Chicago banks. The disruption prompted the shutdown as the AP reports the financial bottleneck halted operations.
Des Moines reports the Iowa Senate confirmed four of Governor Clyde L. Herrine’s appointees. Matt D Cooney of Dubuque joined the state board of parole, Louis E. Roddewig of Davenport the state board of assessment and review, Dr Walter L Bierringtrep of Des Moines the state health commissioner, and H A Maine of Waterloo the state highway commission.
In Portland Oregon two bandits entered Union State bank and seized ten thousand dollars in currency. They fled amid a hail of bullets from the cashier’s gun.
In Decorah the jury acquitted Harold Erickson, pool hall owner, of violating liquor laws after four witnesses testified to purchasing liquor and a bottle seized in a raid was offered as evidence The defense challenged one witness but failed to impeach others.
A 1934 act bars certain insurance loan practices by Iowa associations and fraternal societies. It suspends conflicting laws, requires rule notices to company presidents, forbids court actions challenging rules, and revokes certificates for violations. The act remains in force until the governor ends the emergency or March 1, 1935, and takes effect upon publication.
Governor Charles W Bryan prepared a special message to seek a bill authorizing the state trade and commerce secretary to issue necessary rules during the economic emergency affecting insurance companies. Senator W. B. Banning of Union held a copy of the measure after a Wednesday conference and planned to introduce it after the governor's message.
Chicago reports the American Farm Bureau Federation telegraphed President Roosevelt urging immediate action to protect small rural banks. The note, signed by Edward A Neal, calls for government deposit guarantees, support for rural banking, monetary reform per Dr George F Warren, price parity for farm and industrial goods, and relief for distressed mortgage debt.
Governors issue a wartime level call for national unity in a simultaneous proclamation led by Rear Admiral Byrd. The letter unites President Roosevelt and institutions behind decisive action, signed by leaders from labor, commerce, farming, rail, and religious groups and praised by the President.
Nearly 1 000 delegates from thirty religious denominations and most dry organizations voted to place the national campaign against ratification of the prohibition repeal amendment under a central organization led by nine men.
New York life insurers must continue paying death claims without suspension or delay. State Insurance Superintendent George S. Van Schaick announced the ruling after the legislature granted the governor and him extraordinary powers during the financial emergency.
District court Tuesday assigned law cases to be tried to the court without a jury and directed the petit jury not to report unless notified. Equity assignments for Judge A B Clark begin March 9 and run to March 17. Cases include probate estates, bank suits, and corporate matters with dates through March 20 for probate and further hearings.
Dan O'Neil, 31, Negro, received two indeterminate five-year withheld sentences at Fort Madison State penitentiary for assault with intent to commit a felony, substituted for murder counts, to run consecutively. The sentences were withheld during good behavior on the county attorney's recommendation after he beat his wife Mabel O'Neil and Thomas Jones with a revolver in Van Vechten Park last July 23.
The will of John Alexander Bain who died Sept. 18, 1932 in Cedar Rapids was admitted to probate by Judge John T. Moffit. The testator leaves his entire estate to his wife Margaret Ellen Bain with executors James A. Bain John A. Bain and A. C. Bain named. The will was dated Feb. 25 1927.
Judge John T. Moffit issues default judgments Tuesday in two cases. J. W. Brown vs Ward B. Kimball and Matilda Kimball for 43975 dollars and First National Bank of Marion vs Charles Q. Miller for 953.55 dollars.
Congressional leaders from both parties move quickly to organize for Roosevelt s emergency banking program and prepare to dispatch a joint committee to the White House. Roosevelt expected to send a banking crisis message to Congress within days seeking wide authority to restore financial stability and balance the federal budget.
James Rowland Angell president of Yale University was elected to the board of directors of the New York Life Insurance Company, succeeding Calvin Coolidge. The vote took place in New York City on a Wednesday.
Government faces a banking holiday while officials debate financing a larger money supply. Banks may use promissory notes as collateral under Glass Steagall to draw funds from the federal reserve, easing cash shortages without local scrip.
William Three-fingered Jack White, labeled public enemy number two, posted a $10 000 bond after a courtroom appearance. The convicted murderer and gangster passed through detectives with an unresolved weapons charge and left, counting eighteen 500 dollar notes and ten 100 dollar bills.
Marion headlines report the Marion Service Club adoption at a Tuesday meeting, outlining its role as civic organizations clearing house and listing standing committees for finance, membership, publicity, vigilance, and more. Socials and officer meetings are planned, with multiple local clubs and residents noted.
Kaiser Wilhelm II reportedly abandons ambitions to reclaim the German throne. He plans to spend his declining years at his Homburg Vor Der Hohe castle in Hesse Nassau, while his wife Princess Hermine travels to Berlin to seek approval from the new German authorities.
Twin brothers reunite after twenty eight years in Cedar Rapids at the home of Co. T. Reynolds 1726 Park avenue SE with W C Reynolds of Upland California arriving. They had lived together in Fairfield before the California move and will stay with sister Mrs E Kearns 401 Twenty second street SE for the summer.
The notice indicates income taxes may be paid by check or money order before March 15 and warns that banks may not cash checks under certain conditions. If checks are not accepted in time, taxpayers may be required to pay in cash at banks or post offices as directed.
John Chalmers of Madrid president of the Iowa Farmers Holiday association said farmers statewide are urged to gather in Des Moines Monday to petition the legislature for enactment of relief measures.
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