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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 15, 1964
Page
8
New York market averages closed higher as the Dow Jones rose to 816.22 and the S P 500 advanced to 79.14. Chicago livestock prices showed mixed results with steers and heifers mostly lower and cows higher, while hogs and lambs saw varied gains and losses depending on weight and class.
The AP average of 60 stocks advanced for the sixth straight week, closing Friday at 302.0, up from 299.1 the prior week. Estimated receipts 35,000. actual week ago 37,000. year ago 30,000. Friday 48,000. Prices also given for various U S meat cuts and weights.
In Des Moines the UPI notes hog prices weakened by up to 25 cents while sow prices held steady.
C R Markets reports Cedar Rapids hog prices Saturday were steady to weak with Friday bulk 200 to 230 lb hogs at 14.35 to 14.50 dollars and a few at 14.60. Packing sows 300 lbs quoted 12.75 to 13.25 delivered at the plant with price differentials by weight classes.
New York report notes costly oil searches precede drilling. Geologists and geophysicists study crust and rock formations at about 280 million dollars annually. They identify structures that may hold oil or gas. Fewer than one exploratory well in nine yields oil or gas, and only three in a hundred are commercially profitable.
Cedar Rapids banking totals show weekly clearings at 10,570,801 dollars for the week ending March 13, up 144 million from the previous year. The week ending March 6 posted 11,530,445 dollars in clearings.
Weyerhaeuser Co has acquired a controlling stake in Dropsy S A, France's third largest shipping container producer. The deal, costing over 3 million dollars, marks the companys largest overseas commitment.
Kenyon D. Hoffman 30 former Boone native is promoted to home office agency supervisor for Life Investors Insurance Co in Iowa City Cedar Rapids He attended Boone Junior College and Drake University graduating in 1957 with actuarial science He spent 24 years with the Iowa state Insurance Department in Des Moines before joining Life Investors in 1959.
A Cedar Rapids group plans at least five self operated car wash stations in Cedar Rapids and Marion under Kwik Coin-Operated Car Wash Co. franchises. Two sites at 2725 Johnson Ave NW and 3325 Seventh Ave Marion will start soon. Wilco Co will operate. president James Wilcox, vice president Kenneth V. Hamilton, secretary E W Wadsworth. First two units to open by April 1.
Link-Belt Speeder Co ships 23 shovel cranes from Cedar Rapids to Amsterdam in Holland to aid construction of distribution lines for a newly discovered natural gas deposit in the region.
IBM unveils the 6400 magnetic ledger system to be demonstrated at International Business Corp office. Round Table’s Robert L. Reed repeats on the Million Dollar Round Table. A Cedar Rapids teacher illustrates long term stock investing through four major stocks showing gains and dividends over 74 months, with totals and returns.
Bache & Co notes market action shows tax cut not fully discounted and benefits may exceed early estimates. Leading indicators point upward as averages move higher. advice to hold quality stocks and cash reserves. Glamour stocks faded, airlines cooled, aircraft makers stronger. steels and rail equipment mixed. autos and chemicals firm to high.
Sigourney Berle Speer assistant manager at Graham here for three years is named manager of the Graham department store at Hampton. Tracy Bigley of Eagle Grove is named manager of the Graham store here.
Collins Radio Co reports six months ended January 31 sales of 139,316,601 and net earnings of 1,564,179 or 70 cents per share down from 77 cents a year earlier on 11,211,292 in sales. President Arthur Collins cites start-up costs for the C-8401 computer line and orders and backlog, with expectations of a fiscal 1965 earnings rise as the basis for the policy.
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