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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 22, 1979
Page
22
United Press International reports a broad NYSE and Amex composite showing varied early gains and losses across major firms including Abbott, Alcoa, Boeing, Ford, IBM, Exxon, General Electric, and DuPont with prices and P E ratios listed. The data reflects stocks across industries, with ties to Amex and NASD figures and notes on dividends.
The Dow Jones Industrial Average and Standard Poor's index show modest gains as trading closes. Industrials and utilities lift slightly with utilities near 11.86 and industrials around 113.56 while General index figures reflect small increases.
The Washington Post reports Chicago Board of Trade vice chairman Leslie Rosenthal, a Board member since last year, attended talks barring action on market manipulation amid a March wheat futures squeeze. The CFTC says four grain speculators controlled 90 percent of March wheat, but no charges are filed here. Rosenthal faces a separate commodity fraud case, with a hearing slated next month.
In New York hôm, institutions end of quarter portfolio shifts helped the stock market rebound. The Dow Jones average rose to 862.17 around 1 15 p m EST gaining from a small early loss, the NYSE index climbed to 57 16 and shares advanced 908 to 379 amid 1 744 issues trading.
Federal-State Market News Service reports mostly unchanged prices with light to moderate demand. Larger sizes move well and stay in balance with orders while medium and lighter weights are less desired. Grade A large or better fetch 56-62 cents per dozen, medians 51-57 cents, with most around 55. Other farm eggs vary by grade and size with typical ranges across large and medium categories.
The Cedar Rapids hog market was steady to weak with 50c declines for packers over 550 lbs and heavier butchers. Prices for 200-230 lb butchers ranged $47.00-$48.00, packing sows up to 550 lb $41.00-$41.50, over 550 lb $41.00, and telephon e contact 398 5966 noted for the office. Cedar Rapids sheep priced lambs and wool lambs steady at $62.00-$64.00 and $60.00-$62.00 respectively. lambs over 105 lb discounted. Midwest beef and pork trade at Des Moines showed mixed changes with steers $104.50-$105.50 in 600-900 lb range and pork loins down, various cuts adjusted.
The Eddyville case centers on John Franklin Jr. a 16 year old charged with first degree murder in the shooting deaths of his father and step mother. Jurors heard opening statements after a completed selection and the March 13 trial start in Washington Iowa.
Cedar Rapids Parks Department lists signup days for city garden plots with area specific dates in April. Reservations at the armory basement City Hall on April 2 3 4 5. final May 1. Plots 20 by 50 feet with two per family at Robbins Lake Beverly, four at Squaw Creek. total 700 plots. Cost five dollars per plot plus one lease. No phone reservations. Weeded plots and noncommercial crops required.
Firestone Tire & Rubber Co. extends its recall to 117000 Swedish made tires used on Volvos in the United States and Canada. The tires resemble the Firestone 500s recalled last October and were produced before May 1, 1976. Notices go to Volvo owners and replacement tire purchasers.
General Mills, with a Cedar Rapids plant, announced record results for the first three quarters of fiscal 1979. Sales rose 16.9 percent to 2.8 billion for 39 weeks ended Feb 25, with earnings up 9.3 percent to 116.7 million. Volume gains and price increases drove the rise. all units gained except Ship n Shore, which posted an 11.9 million 39-week loss and 17.5 million loss in Q3.
North south winners Virginia Stamy and Margaret Blencoe took first with Al Rubach and Bob Hertzog second. East west victors were Jeanne Slaman and Lou Harrington first with Gus Schrader and Jay Hesser second. Club championship set for next Wednesday at 7 30 p.m. at the YWCA.
Soybeans advance 2 cents for March through new crop while yellow corn gains 2 cents on the same contracts. White corn and oats hold steady from Wednesday. Prices quoted for Cedar Rapids processors at 10:00 a.m. with spot and new crop levels listed for corn soybeans oats and precious metals shown.
Pullman Inc. will close its passenger car division after 1980 due to foreign competition and a history of profitability in only four of the last 25 years. The board of directors made the decision Wednesday.
Leland Logan, 19, of Manchester died when the car he rode in failed to negotiate a curve on Iowa 163 northwest of Oskaloosa. The vehicle flipped onto its back and Logan was thrown from the car. Four other occupants were injured in the crash.
Hog trade in Des Moines shows moderate demand with butchers steady to strong and sows unevenly steady. prices range across weight classes with No 1-3 250-270 lb hogs 45.50 to 48.00 and 300-600 lb sows 41.00 to 43.50. Estimated receipts 90,000. In Chicago wheat No 2 hard red winter at 3.43 to 3.44, No 2 soft red winter at 3.63 to 3.64. Corn No 2 yellow at 2.49 to 2.41. Oats No 2 heavy at 44. Soybeans No 1 yellow at 7.41.
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