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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 19, 1939
Page
36
The commerce department reports gains in motor and steel output, with new passenger car sales in Wayne County rising from 982 to 1,934 week over week. Railcar loadings, electricity production, and industrial indices show mixed results as markets assess demand and investment trends.
Market notes show steady butter receipts and firm Triump hs prices across grades. Idaho russets and Dakota Bliss Triumphs are listed with No. 1 and better grades varying by price per cwt, while shipments and on track figures indicate moderate demand and old stock retention.
The unsettled overseas political situation boosted wheat buying on the Board of Trade with futures advancing to about 68 to 68 1/2 cents before trimming gains. Corn and soybeans followed similar patterns with mixed early strength and later retreats as Winnipeg and Liverpool markets reacted to news from Europe and domestic weather.
Local securities bonds from Central States and Iowa utilities show percentages for Interstate Power Co. and Iowa Public Service Co. listings with series values from 1950 to 1957. Also noted are Town Southern Utilities and Rath Packing Co. holdings and Bronx City Gas and Western Grocer Co. rates.
E. L. MaKibben announced Saturday his return to automotive sales as Packard agent in Cedar Rapids and nearby. The sales room will open at Stemlar service station on Fourth avenue and Second street SE. A Cedar Rapids businessman for 23 years, MaKibben previously led Packard sales for three years before a five month hiatus. Only Packard will be sold by MaKibben Motor Co. Service will be provided by Stemlar's in connection with its regular service.
Dominion bureau of statistics shows Canadian carloadings at 41 753 for week ended March 11, up from the prior week and below last year. Federal Reserve Board reports store sales modestly above year ago, with four week totals above and below year ago. 1938 profits listed for Climax Molybdenum, Curtiss-Wright, Electric Boat, Simmons, Studebaker, Wickwire Spencer, plus railroad income for Southern Pacific and Wabash. Rudolph Wurlitzer Co. declares regular quarterly preferred dividend of 1.75 with March 20 record. no common action taken.
Bank clearings in Cedar Revit exceeded the prior year for the same week but trailed the week ending March 11. The Cedar Rapids Clearing House reported 1 078 184 24 dollars for the week ending March 18, compared with 902 679 03 a year earlier and 1 171 209 34 for the week ending March 11, 1939.
The Linn County Abstract Company lists mortgages and conveyances for March 10 to March 16. Conveyances show 5 real estate transfers and total mortgage value $63,345.00, compared with last year’s 0 conveyances and $76,704.78 in mortgages.
Lloyd C. Grover, manager of the Iowa State Employment office at 417 First avenue East, Saturday said increased activity in aircraft manufacturing has raised inquiries about skilled machinists not currently employed. The office seeks names addresses and experience records of all skilled machinists and mechanics, especially those with aircraft experience.
The Graham-Evans Tire company formed by L. C. Graham of Marshalltown and W. P. Evans of Moline has subleased the storeroom at 228 First Street NE from Goodyear Tire and Rubber Company whose service store previously occupied the location.
US Department reports hogs steady with top receipts at 7.75 while calves and steers show modest gains. Cattle see higher cows and fat cattle firm, vealers soft, lambs rise to top 9.60 with strongest week since last October and slaughter ewes around 5.35.
A Salt Lake City briefing shows a new sheep foot roller with metal feet compacting mud bases into durable roadbeds. The method, using small amounts of binder, costs about 3000 dollars per mile for secondary roads and is not advised for heavy highways.
A government calculation shows 50 million board feet of timber used annually could span a one inch thick boardwalk 40 feet wide from earth to the moon. U S farmers earned 5 546 000 dollars from hops in 1938.
Markets worldwide slid as European tensions intensified after Hitler seized Czechoslovakia, triggering heavy liquidation. US indices fell 1 to 4 points with huge blocks in Bethlehem Steel and U S Steel. U S Gypsum led losses while Du Pont and American Telephone dropped. Rail stocks and government issues also declined amid crisis fears.
Orie S. Imes announced 1938 assets rose to 15.48 million from 11.46 million and surplus for policy holders climbed to 9.34 million from 6.44 million. Premium writings increased about 17 percent year over year while losses were higher. The Mutual Fire Underwriters, serving fire windstorm and inland marine lines, reelected all officers and has nearly 200 agents across Iowa.
Copper holds at 11.28 cents spot and 10.18 cents export. Tin remains 45.90 spot with 45.00 forward. Lead seen at 4.85 90 in New York and 4.70 at East St. Louis. Zinc stays 4.50 at East St. Louis. Other metals including pig iron aluminum antimony quicksilver platinum and Chinese wolframite unchanged.
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