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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 17, 1977
Page
28
The Associated Press reports a New York Stock Exchange rally with many issues gaining. Key names such as Bank America, Exxon, Coca Cola, IBM, and Chrysler show notable price upswings while several others post mixed or modest moves, reflecting a broad market upswing.
NEW YORK AP The stock market fell Thursday shaving a portion of recent gains. Dow Jones industrial average dropped 4.32 to 963.68 with losers ahead of gainers on the NYSE. Big Board volume 13.49 million shares as Blumenthal warned the recovery lacks strong business investment. Des Moines livestock and Midwest commodities prices move varied across cattle pork and eggs with steady to lower trends noted in several markets.
The Cedar Rapids hog market fell with butchers 200 to 230 lbs at 36.00 to 36.50 dollars and packing sows 300 lbs at 32.00 to 32.50. Heavier hogs faced weight-based discounts up to 260 plus. Sheep prices ranged from 44.00 to 50.00 for various lambs. Grain prices showed corn 2.23, soybeans 8.28, oats 1.69 per bushel.
Linn county district court jurors convicted Paul Armstrong, 22, of 1650 Forty-second Street NE, of delivering cocaine for accommodation and for profit. The undercover purchases occurred Aug 25 and Oct 28. Sentencing set for 1:30 p.m. April 15 before Judge Louis Schultz.
The senate rackets investigation committee gave Teamsters President Dave Beck four days to turn over his personal financial records or face a quick subpoena.
Poultry and livestock market update shows demand moderate and buyers unaggressive. Hogs at 195-240 pounds quoted 37.50-38.00, sows mostly steady with some 25 lower. cattle and calves steady to 50 lower with few high grade steers and heifers noted. Estimated Friday receipts: cattle and calves 1,300 hogs 3,500.
UPI dispatch from Joliet Illinois notes livestock sales weak with cattle insufficient to establish prices. Estimated receipts include about 600 cattle and about 1 200 hogs with No 1-2 cattle 200-240 pounds selling around 38.25 to 38.50 per cwt and No 1-3 200-260 pounds about 37.50 to 38.25.
Wholesale egg offerings were ample and demand light in New York on Thursday. Spot prices were based on volume sales with Whites quotes for Fancy large set at 63-44. Fancy medium and Fancy small were unquoted. Butter offerings held steady with no price changes.
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