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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 04, 1965
Page
18
Solid gains by blue chips pushed the market to record highs at the close. General Motors weathered early selling and ended with a slight gain as auto industry reports helped shares like Ford and Chrysler rise. Volume was about 9.6 million shares, up from 5.33 million.
Broad advance lifts butcher hogs to highest since 1958 with sales up to 75 cents higher. Chicago reports 4,500 head offered with top bids near 20.75 per hundredweight, plus steady to higher prices for cattle, calves, sheep, and hogs across Des Moines Omaha and Sioux City reports.
New York AP The General Motors board announced a quarterly dividend of 73 cents and a special dividend of 73 cents per common share. The decision, anticipated by Wall Street and GM’s 1.2 million shareholders, follows prior speculation about a potential split.
Report of condition for Fairfax State Savings Bank, Fairfax Iowa, close of business April 26, 1965. Total assets listed as 3,? million plus, liabilities include deposits from individuals and governments, capital accounts show common stock 190000 and surplus 100000, with signed affidavits by bank officers J Rall and D Nevhaus. Notary/official verification on May 1, 1965.
Chicago wholesale prices for turkey butter and eggs remain unchanged with steady to higher marks. Potatoes show arrivals on track and russet markets firm with round reds dull, while New York reports ample eggs and butter demand with unaltered prices.
R. H. Meister re elected honorary chairman of the Kwik-Way Co. board. Officers include Fritz Hahn president and treasurer, H Cedric Hahn executive VP and secretary, and Thomas Parks VP and sales manager. Parks and Keith Robertson join the board. George Erwin named Manager of Special Accounts for the automotive rebuilding and brake repair equipment firm.
The 10 O Clock News airs each weeknight at CST on KCRG TV 3 reaching a national audience through regional broadcasts. The program highlights local stories with a broader reach for viewers seeking timely updates.
American Motors Corp. reported a sharp drop in first quarter earnings for the quarter ending March 31. Earnings were 1,784,471 dollars or 9 cents a share, down from 7,591,175 dollars or 4? cents a share a year earlier.
Sealed bids will be received by the Car Dispatcher’s Office in DesfaAgines Java on May 16 1965 at 1 00 PM for Proposed Purchase No 3468. Bidders must submit on Proposal forms obtainable from Mr Robert J Hasselt Sr State Car Dispatcher and may obtain specifications and information.
In slow trading at Chicago Board of Trade, soybeans rise slightly while wheat, oats, rye and corn edge lower. Cash prices show No. 2 red wheat at about 1.44 to 1.45, corn No. 2 yellow near 1.36, and soybeans around 2.90 per bushel with oil at 11.30.
India proposed at the UN Disarmament Commission that any ban on expanding nuclear weapons include a UN backed security guarantee for nations threatened by a nuclear power. Ambassador Chakravarty cited China's test as an affront and warned of regional arms racing implications if India bows to pressures.
Directors of Iowa Electric Light and Power Co. declared a regular 27.4 cent quarterly common dividend payable July 1 to stockholders of record June 15. They also declared 60 cent per share and 53.34 cent per share preferred dividends for $50 par value stock. The annual stockholders meeting is set for May 1 at 2 p.m.
New Delhi charges that Pakistan is reinforcing eastern frontier units by flying troops over Indian airspace, signaling escalating tensions between the two nations.
Consolidated Foods Corp owner of May’s drug chain and Eagle Food Markets says it arranged the acquisitions of Chicken Delight Design of Race Island and Joe Lowe Corp of Englewood New Jersey. Stock valued at 37.8 million to be paid. Deals hinge on U.S. tax ruling. Chicken Delight serves 640 franchised outlets. Lowe provides ingredients for Popsicle and Fudgsicle.
Anaconda Copper raised the U S price for copper by 1 cent to 36 cents per pound from 35 as Adm. Smith, retired May, received the Distinguished Service Medal. Johnson announced the move after Chilean government orders. The change follows a weekend surge in copper values featured in Want Ads.
The North Western railway announced a further reduction in corn freight rates for Iowa Minnesota and South Dakota for export traders. The decrease up to eight cents per hundred pounds takes effect June 4 as part of a broader push to boost Midwestern participation in foreign trade via the St. Lawrence Seaway. Since 1958 reductions have totaled about 40 percent in Iowa and around 29 to 15 percent in Minnesota and South Dakota.
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