Markets slip sixth straight week as Hunts loom large
The Markets section reports a sixth straight weekly stock decline amid Fed restraint fears and the Hunts debt crisis. Dow dips 7.50 to 777.65 after a volatile week. NYSE composite and S and P fall. big moves in IBM Mobil Texaco Gulf and mining shares reflect broader selloff and late week rebound.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
Nelson Bunker Hunt
Bache Halsey
Stuart Shields
W. Herbert Hunt
Bunker
Wall Street Journal
Fed
Dow
New York Stock Exchange
Standard & Poor
NYSE
U.S
Com
IBM
Senate
Mobil Corp
Carter
Mobil
Texaco
Gulf Oil
Gulf
Gulf Canada
Hunt
McIntyre Mines
Handy & Harman
Homestake Mining
Hecla Mining
Callahan Mining
Asarco
Campbell Red Lake
ASA Ltd
Dome Mines
Allergan
SmithKline
Centronics
American Stock Exchange
Dome Petroleum
Ranger Oi
National Association of Securities Dealers
Bonds falter as CPI rises and rates climb
UPI reports bond prices fell amid a 1.4 percent February CPI gain and silver price drops. Treasury notes sold at a 14.29 percent four year yield while prime and federal funds rates rose. Municipal bonds slid further with rising yields, though new issues attracted buyer interest. Next week offers about $375 million in bonds plus a $3 billion New York State note sale.
MENTIONED IN THIS ARTICLE
New York
UPI
Salomon Brothers
Treasury
Money Center
Federal
U.S
New York State
Commodities fall sharply across markets in Chicago and New York
Commodities across metals, grains, and most futures declined from March 21 settlement levels. Wheat May futures fell 26% cents per bushel, corn and oats down 8 cents, soybeans 29 cents. Gold plunged 54.30, silver halved to 12, platinum shed 167, copper 6.9 cents. Cattle, hogs, feeder cattle and pork bellies slid, cotton and sugar down, cocoa dropped 6.85, orange juice down 5.5, coffee up 0.02, lumber and plywood futures also lower.
MENTIONED IN THIS ARTICLE
Chicago
New York
UFS Goes Solar in Cedar Rapids Branch Opening
United Federal Savings and Loan plans a Cedar Rapids branch as its fourth solar heated office. Evan L. Oster notes the system will supply over half the building’s heat, with heat pumps and resistance heaters as backups. Past openings in Oskaloosa Ames and West Des Moines inform expected payback around 10 years.
MENTIONED IN THIS ARTICLE
United Federal Savings and Loan
UFS
Cedar Rapids
Evan L. Oster
Oster
United Federal
Iowa Electric
Oskaloosa
Ames
West Des Moines
United Federal opens new Cedar Rapids branch downtown
The Cedar Rapids United Federal Savings and Loan will open Monday in a permanent solar heated precast building at First Avenue and 40th Street NE. The 5,000 square foot facility includes a 1,300 square foot rental area and a drive up teller. Grand opening is set for the week of April 21 with VIP and Realtors nights. The office marks the association's 23rd Iowa location, with contractor Kinderknecht and Associates and architect Rick Nelson of Smith Voorhees Jensen.
MENTIONED IN THIS ARTICLE
First Avenue
Fortieth Street
40Th Street
Cedar Rapids
United Federal Savings and Loan Association of Des Moines
Kinderknecht and Associates
Rick Nelson
Smith, Voorhees and Jensen
Des Moines
Also Mentioned on This Page
Bruce Fishwild Gazette Financial Editor
United Federal Savings Branch
Realtors
Martin Butschi
The
Association
Iowa
Gediz
Cbs
Olio
Don Kuhn
City Carton Co., Inc
Iowa City
7Th Ave
Royal
Canon
Royal Typewriter
RTCO
Fifth Avenue SE
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!