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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 09, 1972
Page
20
Prices fell broadly in heavy trading as the Dow Jones average slid 11.74 to 926.10 amid a midday rally fade. Declines outpaced advances 6 to 1 on the New York Stock Exchange, with heavy losses also seen on the American Stock Exchange as traders cited a Red Chinese statement about Vietnamese waters.
Prices on Tuesday rose 25 cents with Monday’s bids for country and plant delivered butchers 200 to 230 pounds at 24.00 to 24.50. Sows 300 pounds down at 21.25 to 21.50. Heavier butchers vary by weight with reductions per 10 pounds. Packers discounted by weight grade up to 500 pounds and beyond. Lambs and sheep listed with various per hundred weights. Poultry and eggs quoted with small gains and different grade prices. Grain bids include soybeans 3.35, oats 71 cents, corn 1.12. Postville beef market shows ranges for privies seers to bulls.
UPI reports wholesale prices in Chicago with eggs holding steady. Extra large 32 to 34 cents delivered to retailers, large 31 to 32, mediums 25 to 26. Potatoes show 195 shipments, 36 arrivals, fair demand, market dull on new crop. 100 lb track sales list Idaho russets at 5.40, Red River Valley round reds at 2.40, California long whites at 5.50.
Wholesale egg offerings fully adequate for fair demand Tuesday. Standards 25-26 Whites Fancy large 28-30. Fancy medium 22-24. Fancy smalls 19-21. Fuller offerings areine. Demand steady. Prices unchanged.
Des Moines field work slowed by overcast skies and rain as the Iowa weekly crop survey reports corn planting under ten percent, far behind last year's 55 percent. Oat seeding exceeds 90 percent, lagging behind last year and five-year average. Plowing for 1972 crops stands at 85 percent, below last year’s 95 percent.
Tipton attorney Ed Kemp was named Cedar County attorney by the board of supervisors, succeeding Max Werling who was sworn in as district judge last week, setting a new leadership for county legal work.
In Chicago on Tuesday the soybean market led a broad selloff on the Board of Trade after unconfirmed reports of bombs directed at Red Chinese vessels in Vietnam. Prices slid with soybeans about 4 cents lower, wheat down about 1 cent, corn mixed, and oats mixed as fears the conflict could widen spurred selling.
Chicago grain prices report listing No 2 hard red wheat at 1.62 and No 2 soft red at 1.62, corn No 2 yellow at 1.20, No 2 white beans at 3.50, and yellow oil products. Names of commodities and prices appear in a terse AP tag from the Chicago market page.
Interior Iowa southern Minnesota hog markets show fairly active demand with Tuesday receipts around 75 000 versus 80 000 last week and 90 000 year earlier. U S 13 200 230 lb butchers priced 24 25 25 50. 230 240 lb 24 00 25 25. 240 260 lb 23 75 25 00. 260 280 lb 22 75 24 50. U S 1 3 270 330 lb sows 21 25 23 00. 330 400 lb 20 75 22 50. 400 450 lb 20 50 22 00. 450 550 lb 19 50 21 75.
Yesterday at Webster City Central Iowa Stockyards cattle moved slow to steady with steers 34.25 to 35.00, top 35.40. Heifers 33.75 to 34.50, cows 23.00 to 26.00, bulls 28.50 to 31.50. Hogs 900 head, butchers steady to higher, bulk 24.00 to 25.00, top 25.25. sows 21.00 to 22.00, boars 25 higher, 350 lb yellow tag 22.75. Tuesday estimates showed 500 cattle, 700 hogs, 150 feeders.
AP dispatch from Des Moines notes beef trading is slow with steer prices mostly steady to down 50 cents, heifers steady. 500-700 lb steer 53.00, 700-800 lb 53.50-54.00, 500-700 lb heifers 53.50. Pork trade active with good demand. loins, picnics, hams, bellies show varied gains and steadier to higher prices across listed weights.
AP dispatch from Sioux City notes hogs at 8,500 head with butchers firm to 50 higher, U S 13 195-240 lb hogs trading 25.25 to 25.75, sows steady to higher at 340-600 lb range around 22.0, cattle about 4,000 with steers steady to 25 lower and 1,050-1,200 lb choice steers at 34, heifers steady to lower with 875-1,050 lb at 34.00-34.60, cows and prime at 35.00.
The report shows cattle trading with mixed demand and shifts in prices. Cattle and calves move unevenly with several grades and weights quoted. Newsprint notes some declines and steadier trends among steers and heifers, with regional price ranges and instances of weaker activity.
Loretta Pizinger of 840 Second Avenue SE had a charge of violating the controlled substance act dismissed Friday in municipal court after a preliminary hearing. She had been charged with receiving drugs from a pharmacy using a forged prescription on February 14.
Michael Kadera of 3807 Vine Avenue SE was bound over to the Linn grand jury after a preliminary hearing in municipal court on a breaking and entering charge. He faces the Feb. 9 break in at Luther Ballew residence, 810 Fifth Street SE.
Sara M. Hopkins of 1644 First Avenue NE had a charge of receiving stolen property dismissed Friday after a preliminary hearing. She was accused of receiving goods belonging to Luther Ballew on February 9.
A criminal trespass charge against Isabel Hammond of 1639 D Avenue NE was dismissed in municipal court after the complaining witness did not wish to testify. The charge was filed by Charles Ross on February 1.
Dean Lindeman pled guilty in municipal court to lewdness and received a six month suspended jail sentence. He was charged with indecent exposure on March 15 at 11 Glenbrook Drive SE.
Virgil Day of 1725 D avenue NE pled guilty in municipal court to drunk driving. He received a 30 day jail sentence with two days already served, the remaining 28 days suspended. Day was arrested on December 19.
Raymond Hamer of 3709 Twelfth Avenue SW pled guilty in municipal court to drunk driving. Sentencing was deferred until May 8, 1973, after his Aug. 27 arrest.
Charles J. Barker of 922 Sixteenth Avenue SW was found guilty in municipal court on three charges of disobeying a police officer. He was fined $25 and costs on each charge for failing to stop for an officer on three separate occasions, charged March 11.
Albert W. Sankot, 56, of Fairfax, was hospitalized Tuesday after a drunk driving arrest. Deputies said he cut above the eye on his glasses when he fell following the arrest. He was stopped in Fairfax early Tuesday for erratic driving and was at Mercy Hospital Tuesday afternoon. A condition report was not immediately available.
Randy P. Duffy twenty of 1463 Miami drive NE was arrested for larceny after eight stereo tapes were stolen from a car owned by Gary Cannady of 800% Third avenue SW in the Kirkwood college lot. Duffy appeared in municipal court and was given until Thursday to plead while held on a 110 dollar bond in the Linn county jail.
The U S and Soviet delegations to the strategic arms limitation talks met for their ninth session in Helsinki on Tuesday amid ongoing negotiations.
Preschool story hour at the downtown public library auditorium at 10 30 Wednesday. Ads note wedding guide Bridal Services. Coin Club meets Wednesday 7 30 PM in YWCA room 109 with a slide on regular U S gold coins. Real estate and business ads interleave with local club events and personal notices.
In London and European bullion markets gold surged to a record high of 54 dollars per fine ounce as President Nixon expands the Vietnam war. The dollar weakened on foreign exchanges, hitting a two month low in Paris while remaining soft in London Frankfurt and Zurich amid investor jitters. Bullion dealers linked the rise to renewed bombing and port mining actions in North Vietnam drawing speculators into the market.
Allen Wells, 15, of 2557 Chestnut Lane NE, was admitted to St Luke's hospital Tuesday morning after a bicycle wheel came loose and he was flipped from the bike at Twentieth Street and E Avenue NE. His injuries and condition were not immediately known.
Marlene Symonds of Mt. Vernon pled guilty Friday in municipal court to a drunken driving charge. Sentencing was deferred to May 8, 1973 after her Aug. 28 arrest.
Arthur D. Swarzentruber, Vigortone Products Co. president, was elected a director of Iowa National Mutual Insurance Co. for a three-year term at the policy holders meeting. Re-elected were Ray J. Mills and William C. Crawford. Officers reappointed included Hopkins as chairman and CEO Mills as vice-chairman Rice as president and Durham as secretary treasurer. Six vice presidents were named. Rice reported firm surplus of 16,537,990.48 and assets of 52,887,677.51, with direct premiums at 46,311,822.71. A Cedar Rapids branch managers meeting with department heads began and will run through Wednesday.
Federal Judge Edward McManus denied a request by the Waterloo Education Assn and M Dean Flanders for a preliminary injunction against the Black Hawk county grand jury. The case involves Flanders a principal at Hawthorne elementary and the jury report urging his removal and threatening further inquiries. A permanent injunction hearing will be scheduled later.
Richard L. Jugenheimer a 42 year old janitor of 920 Eighth Street SW is held in the city jail on larceny in the nighttime charges for allegedly stealing 550 dollars from the city planning office on April 24. He was to be arraigned Tuesday afternoon.
Calvin Love, 19, of 1214 Eleventh Street SW, was jailed in Linn County on charges of violation of the controlled substances act and intoxication. He was arrested Monday night after attempting to break into an apartment on 1413 Second Avenue SE, and marijuana was confiscated at the police booking window. He awaits arraignment.
The Linn supervisors rejected the sole bid for the Edgewood road bridge over the Milwaukee tracks and awarded the contract to Hanson Construction Co of Washington at $167,122.38, below the $170,310.38 submitted two weeks earlier after delaying because it exceeded the engineer’s estimate by 11 percent.
Linn supervisors postponed action Tuesday on bids for remodeling the old county shop on Center Point road NE to house the health department. Bids totaled over 50,000 and would need a voter vote to approve. Health director Al Ahern and architect Leo Peiffer were asked to seek cheaper alternates under 50,000.
Ray Miller and Gov. Robert Ray backed President Nixon's plan to mine North Vietnamese harbors, saying it was the only feasible step to end the war despite risks. Sen. Harold Hughes warned the move edged toward World War III and urged a mass public protest to pressure leaders.
The Iowa highway commission aims to raise reimbursements to cities for routine maintenance of primary road extensions by about 50 percent, from 1960 levels, while noting actual maintenance costs have doubled to 26.5 million dollars this year. Proposals set new rates per mile: 600 for two lane, 750 for four lane, and 900 for six lane pavement, with major repairs still handled by the state. Waterloo and Dubuque have pressed for the increase, Waterloo having threatened to halt maintenance two years prior.
Edward Wedelstedt of Keno sha Wisconsin pleaded guilty in municipal court to failure to file a statement of trade name. He was fined 25 dollars and costs. Charged May 3 with failing to register the trade name Danish Book Store.
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