First partnership joins NYSE
New York Stock Exchange lists partnership units for the first time after approving Apache Petroleum Co. partnership units based in Minneapolis. The move makes the Big Board a pioneer in listing partnerships and outlines tax shelter benefits and risks for investors in the program. Apache Petroleum Co. units trade under APP, joining Apache Corp. APA on the NYSE.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Apache Petroleum Co
Minneapolis
Exchange
Big Board
Apache Petroleum
Apache Corp
Apache Petroleum Co. Partnership
APP
APA
United Fire reports record annual earnings and dividend rise
United Fire and Casualty Co of Cedar Rapids posted record net earnings of 5.29 million for the year ended December 31 up from 4.4 million the year before. Per share earnings were 3.80, premiums written rose 24 percent to 58.8 million, and investment income grew 30 percent to 4.27 million. The P C unit posted a 95.8 percent combined ratio and a 4.7 percent underwriting margin, marking the 15th consecutive underwriting profit. Directors boosted the quarterly dividend to 25 cents from 22.4 cents, payable March 16 to record holders March 4.
MENTIONED IN THIS ARTICLE
United Fire and Casualty Co
Cedar Rapids
United Fire
Midwest grain prices move higher on Monday market report
Cedar Rapids quoting No 2 corn across March through new crop at 3.255 to 3.055 dollars and white corn 4.90 or 3.85 for new. Soybeans rise with March first and second halves at 7.17 and 7.06, others near 6.98 to 7.44. Oats old at 2.18 and new at 2.03. Des Moines livestock: hog trade moderate to fairly active with various weight ranges priced 34.50 to 40.50 per cwt. Receipts estimated 100000.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Iowa Firms Owe 37 Million in Back Taxes
Iowa's Department of Revenue reports at least 28 large corporations owe about 37 million dollars in back taxes. Each firm faces roughly half a million dollars or more, with overall back taxes totaling 107 million. Protests, cash flow concerns, and budget cuts limiting agents hinder collection. Utilities among the main defaulters include Iowa Public Service Co and subsidiaries, Western Electric, Lincoln Electric, Northern Natural Gas, and Illinois Water Treatment.
MENTIONED IN THIS ARTICLE
Des Moines
UPI
Iowa
Iowa Public Service Co
Western Electric Co. Inc
Lincoln Electric Co. Inc
Northern Natural Gas Co
Illinois Water Treatment Inc
Stocks Push Higher on Money Supply Report
Stocks rose as investors priced in lower interest rates after a Fed money supply report showed sharp declines. The Dow gained about 6.55 points to 971.17, with 759 advances to 502 declines among 1,699 NYSE issues traded. Gulf Oil and Sears led active trading, while Amax, Sony, and Computervision also moved higher amid mixed results.
MENTIONED IN THIS ARTICLE
New York
UPI
Dow Jones
Dow
New York Stock Exchange
NYSE
Federal Reserve
Fed
Gulf
Sears, Roebuck
Midwest Stock Exchange
AMAX
California Standard
Sony Corp
Computervision
Cobalt
Applied Materials
Santa Clara
Calif
Cone Mills
Livestock Auctions Report Across Midwestern Markets
Omaha hog trade shows gains with No. 1-2 200-240 Ibs at 41.00 to 41.50 while 300-600 Ibs leaners rise to 36.75 to 39.00. cattle steady to higher with steers 61.00 to 62.00 for top weights and cows improving. Sioux City and Joliet rundown mirror firmer hogs and mixed cattle demand with steady to higher sales, Chicago notes flat butter and stable eye prices.
MENTIONED IN THIS ARTICLE
Omaha
UPI
Sioux City
USDA
Joliet, Ill
Cattie
Midwest meat market reports slow demand and steady steer prices
Des Moines and Webster City reports show slow beef trade with light demand. Steer beef priced at 96.00 for 600-800 lb and 95.00 for 800-900 lb. pork loins 17-22 lb at 89.00-90.00, 20 lb and up at 80.00. Hogs in Webster City trade active with prices 39.75-40.75 for 200-260 lb, 39.00-39.50 for 260-280 lb, and 37.00-37.50 for 300-350 lb. sows steady. Cattle absent.
MENTIONED IN THIS ARTICLE
Des Moines
Midwest
Webster City
UPI
Chicago grain prices brief from AP
Wheat No 2 hard red winter 3.66n and No 2 soft red winter 4.16n are listed. Corn No 2 yellow 3.41Yan with hopper 3.30/2n and box 3.30/2n. Oats No 2 heavy 2.324n. Soybeans No 1 yellow 7.04W2n and No 2 yellow. Friday quotes show No 2 yellow corn at 3.44%4n hopper 3.28%4n box.
MENTIONED IN THIS ARTICLE
Chicago
Administration proposes limited Safeguard antimissile expansion
The administration announced a plan to expand the Safeguard antimissile system in a limited scope. Officials described the proposal as a measured step toward strengthening national defense while maintaining budgetary prudence.
Cedar Rapids Hog and Sheep Market Report
The Cedar Rapids hog market Monday held steady across weight classes with 210 to 230 lb butchers at 39.00 to 39.50 dollars and packers over 550 lb up to 35.50 for sows. Light hogs 200-210 lb incur a 0.50 discount and 230-240 lb hogs show 0.25 to 0.75 additional reductions per 10 lb above 250. Sheep market remained steady with wool at 52.00 and shorn at 54.00 dollars. Buying hours are 7 a.m. to 10 a.m. Monday through Friday.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Poultry market tone steady with light trading
Des Moines reports a steady undertone in U S west north central live hens with very light offerings and balanced supplies for this week's slaughter. Demand is moderate as processing plants run full time and chain buyers are uneasy. Dealers’ inventories are up 22 percent from last week while farm prices show scant changes for loose eggs with Grade A rates around 44 to 49 cents per dozen.
MENTIONED IN THIS ARTICLE
U.S. West North Central States
Des Moines
Federal State Market News Service
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By Robert Metz
New York Times Service
Apache
New York Time
Gulf&Ws
Halbrin
Stock Exchange
Haris Co
StollOn
Harteck
Va Sterlorg
HeclaMn
Stewen
Heinz Sun Co
Abbott L
AeboLt
Asia
Sysco Cp
Alleg
Allied C
Hunstke
Ve Texaco
Allieds
Honeywell
A. Chim
Houstin
TexGas
Texeco
Texas
Uae
John Mv
Amstar
Armco i
JonLogn Uniroy! Inc
Atlas Corp US Inds
Va KaisrAl
a - US_ Steel
AvcoCe
Va Avnet Inc
Uptown
Baker
Kennet
Kennett
Goxfery
Kemcg
Vendo Co Ve
Kidde Inc
Kimbel
Bell
KLM Airine
Walgrn
WsBanc
Rden
LearSig
Va Wunion
LeeEntp
Westhe
Ehm
Wstvac
Branift Intl
Weyrhs
Brigg
Lifemrk
Wheeling St Whipool
Bris My
LillyEti
Litton
Whit Cn
Brit Pet
BriGre
Va Whitker
Va Brunswk
Va LoewCp
William
Buc
WinnDx
Bunyrus
Woolwh
Burling
LT V Corp
Burl No
Va Lucky
Burrgh
LukenSt
Zayrec Zale Cp
Isey Fr
a-Amex
Boston
Kinsti Certn
Cincinnati
p-Pacific Champs
Idwest x-Philadelphia
Divi Chasem
McGrHi
McLean
Chris Crft
Chrysler Cp Mer
Citicorp
Pilus
MobilCorp
loroxCo
Monsan
Colgate
ComSat
Onoco
Nabisco
Eure
Shearson Loeb Rhoades Inc
Nortons
Am. Ins
Archer Daniels
Cortisser
Bandas
Ohio
Banks of
Okioge
Beatrice Foods
Amex Rocks
Brenton Banks
Conrac
Consolidat
Dominion Bridge
Cell-O Corp
Pacpl
Lowe Electric
Eapt
Lowa-Ill
Eisnerwitt
Pan Am Air
Apetrol
Uel
Joan Deere
Augus
Peper
Panhandle
Ae Banister Keuffel & Esser
Penney
Va Brasen
Dow Ch
Pennpl
Va Ve Circle K
Life Investors, Inc
Dowas
Pennzol
LTV
Nee . Ve
Pepsi
Petronn
Mapco
Maytag
DuPont
Mid-America
O's
Quaker Oats EsKodak
Pillsbury
Pitney
Houston
Rockwell
Pallach
Syntex
Universal Foods
SE &G
Xxon Cp
Bay Parlott
Fe Yntex Flex
Winnebago
Faberge
Quakro
Us Ilter
Faircide
Wyo
Arah Mfg
Ralston
RCA Cp
Shearson Loeb Rhodes Inc
Rockwil
RoperCo
Ag Co
Poor's
First Mid-America
Chicago Mercantile Exchange
Cedar Rapids Grain
Pro Farmer Grain
Hogs
Engiehard
American Stock Exchange
Paradyne
Warner Communications
General Housewares
Omaha Livestock
Sioux City Livestock
Joliet Livestock
Webster City Livestock
Chicago Cash Grain
C.R. Markets
Lowa Farm
Dial
Sejont
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