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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 12, 1939
Page
33
AP reports a mixed week across industries with gains in electric power, carloadings, and automobile output while steel and retail lag. Easter boosted wholesale apparel, auto producers led, and Wall Street mood improved as General Motors hit a yearly high amid a generally optimistic 36 city commerce review.
Bank clearings in Cedar Rapids for the week ended Saturday totaled 1 171 209 34 dollars, above last year’s same week but below the prior week of this year. The Cedar Rapids clearing house report shows 1 353 570 59 dollars for the week ending March 4, with year over year comparisons noted.
LISBON the Albright garage was rented last week to Ralph E Moeller of Walcott who purchased the stock and equipment W C Hansen of Stanwood is now in charge of the city meat market He purchased the stock and equipment.
Robert O. Bickel of the C. V. Shepherd Insurance agency led the National Life Insurance Company of Vermont in February new sales. The home office announced this Friday, marking Bickel's fourteenth consecutive month as a national leaders group ranking holder, a record tied by another man.
Hogs receipts 100 with limited demand and steady tone. 300 lb butchers 7.35. 180-250 lb hogs 15-25 cheaper. sows 25c lower. Cattle receipts 100. fed steers and yearlings 25c higher. top 13.75 for yearlings. calves scarce. heifers and cows 15-28c higher, best heavy heifers 11.00, bulk feeders 8.50-9.75. Sheep receipts 1,500. fat lambs 15-25c lower. top 9.00, bulk 8.50-9.90. ewes steady to weak. feeding lambs scarce.
The Linn County Abstract Company's report covers mortgages and conveyances recorded in Linn County from March 3 to March 9. Conveys 69 mortgage records and 38 mortgage aggregates totaling $150,875.00. The same week last year shows 86 mortgages and 47 aggregates totaling $146,688.50.
L N Ellis division superintendent states inventories at the Reliance Manufacturing plant are at their lowest since 1932 and forecasts full-time operation resuming in 1939.
The notice explains that the auntations are not firm bids but price ranges from recent transactions. Readers with interest in unquoted issues are advised to contact the financial editor at The Gazette in Cedar Rapids Iowa for details on bonds.
The page shows a stock listing section for Central States Power Co. Interstate Power Co. and Iowa Public Service Co with various percentages and figures. It also includes entries for Towa Southern Utilities and Western Grocer Co. along with stock classifications and percentages.
AP market briefs show Chicago butter receipts at 1,134,129 with unsettled creamery specials and various carrot and standard prices while eggs total 16,172 steady with mixed packed extras and firsts. New York egg receipts 35,234 ease with color variation and assorted standards and firsts. butter receipts 675,814 weak with higher creamery, and cheese receipts 79,708 weak with unchanged prices.
AP reports Saturday receipts of 124 cars with quotations held steady. Wheat markets show No 1 heavy dark Northern Warzie and No 1 dark Northern T4qnoc, No 1 hard Montana and red durum with current percents and prices. Corn No 3 yellow quoted at 41 34 cents, oats No 3 white 26 7/8 to 28 7/8 cents, barley at 30 65 cents.
Copper steady in New York at 11.25 on electrolytic spot with export 10.31. Tin holds at 46.40 spot and forward. Lead steady around 4.85 to 4.90 in New York, East St. Louis at 4.70. Zinc steady at East St. Louis 4.50. Other metals including iron, aluminum, antimony, quicksilver, platinum and Chinese wolframite unchanged.
T Alfred Fleming of New York City will speak at a joint dinner of Cedar Rapids Insurance Agents and the Wholesale and Retail Credit associations at 6 p m Wednesday in the Roosevelt hotel. Fleming, tied to the National Board of Fire Underwriters and the National Association of Credit Men, will discuss conservation and fire prevention. An open forum will follow his address with regional credit group leaders and officials attending.
Chicago trading notes a rally in May soybeans to 88 cents a bushel with July and October futures also higher. Cash market bids for No 2 yellow soybeans rose to 90 cents per bushel amid strong domestic and export demand, while overall grain futures showed mixed or modest changes as wheat corn and oats fluctuated.
Trading eased on Saturday as investors weighed central Europe unrest after Slovakia appealed to Hitler for aid. The SEC relaxed short selling rules, boosting sentiment slightly but failing to reverse losses. Loft led declines. American Telephone rose to a new high. steel and aviation shares fell.
The week ending March 11 was the most active on the New York Stock Exchange with many issues reaching new highs or profits trimming near the close. The twelve most active stocks of the period show strong turnover and notable price movement.
About one hundred Continental Oil Company jobbers and dealers from eight eastern Iowa counties gathered at the Montrose hotel Friday for a sales promotion and advertising meeting. Speakers included W. R. Fitzpatrick of Lincoln Nebraska and W. L. Woods of Des Moines, with H. P. Solem of Cedar Rapids in charge of arrangements.
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