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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 19, 1940
Page
22
Wall Street analysts warned that U S gearing toward defense would reshape heavy industry and foreign trade. The German advance risks reducing Europe’s purchases while stock and commodity declines threaten rural buying power and farm prices.
Professor Stephen A. Bush of the University of Iowa Romance languages department and former French Foreign Legion member will discuss the United States role in world events at the Cedar Rapids Retail Credit association dinner meeting. The event is Monday at 6 pm in the Lafayette club room.
Cedar Rapids banking figures show weekly clearings totaling $1,318,711.05, up from $1,149,361.15 the prior week. Year ago, week ending May 20 reached $1,349,942.51.
Secretary Wallace seeks suspension of all grain futures trading below Saturday's close as Chicago and Winnipeg markets reel from a dramatic decline. Dealers call the drop mass hysteria with wheat down as much as 34 cents on the week, rye and corn following the same trend amid war fears.
Minneapolis grain report shows Wheat receipts 209 cars vs 326 last year with cash bids mixed. Prices vary by grade from No 1 heavy dark northern to hard Montana and amber durum with several declines and different no 3 and red durum values. Corn oats and barley also listed with bid ranges and ton quotas.
Markets report price and arrival data for butter eggs potatoes in Chicago. Butter receipts 1 036 648 steady. Eggs receipts 48 215 weak with varied local prices. Potatoes arrivals and on track with mixed stock quality and prices across Idaho Alabama Louisiana California sources.
The article discusses rheumatoid and other forms of arthritis, noting no cure exists but claiming doctors can ease symptoms. It advises an iodine ration, high-dose vitamin D with calcium, and consuming fresh wheat germ for vitamin E, promoting these as helpful without medical guarantees.
Krebs Dutch Girl Dairy doubles its lot at the main store 2907 First Avenue SE to provide parking for 100 automobiles. New blue mercury lighting illuminates the area as a new building rises to enclose a fountain enhancing the main store fountain and overall service.
Investors faced a shaken market as wartime uncertainty spurred heavy liquidations through the week. Some efforts to rally followed Roosevelt's armament spending push, yet overall prices fell with only selective gains in certain earnings prospects under the new government program.
Entries report Baldwin commencement with Barnes address salutaory and diplomas for multiple graduates. Center Junction alumni banquet features music and awards. Wilton mourns Edward Maurer. Alburnett holds 22nd commencement with Koenig address. Central City alumni banquet lines up speakers. Manchester Red Cross drives for 600 in Delaware county while Erma Clark Fergeson wins divorce by default in Delaware district court.
The notice lists futures terms from Lamaen Bros and Co and notes refrigerator egg standards. It specifies November steel at 28.85 and October siege at 17.95 with related storage benchmarks.
The Cedar Rapids Chamber of Commerce industrial bureau reports April gains in building, utilities and industry. Building permits rose to 303 with higher phone connections and electricity and gas consumption up. real estate transfers edged higher. employment in 20 top firms increased to 5 388. vehicle sales and post office receipts also rose. Debits and bank clearings climbed, while inbound shipments fell slightly and outbound car totals rose.
Conveyances and mortgages recorded in Linn county from May 10 to May 16. Total conveyances 82 and mortgages 52 with aggregate mortgages of 167000.00. Compared with last year 66 conveyances and 43 mortgages totaling 81700.00.
Price list from Cedar Rapids shows grain items with No 1 and No 2 grades for wheat and oats, corn, rye, buckwheat and soybeans, plus hay, straw, and a broad range of produce prices. Poultry and hides also listed, including hens, leghorns, calves, kips, horses, and general market values.
Hog receipts total 4 300 with 300 offerable not enough to test the market. Quotations unchanged from Friday with ton around 615 dollars and 500 held over. Cattle receipts about 100 calves 100 steady to 25 cents lower on medium weight and heavy fed steers. Best prime steers around 12 50, heifers to 19 75, cows and yearlings scarce. Sheep receipts 3 500 with fat lambs 25 cents lower and best handy weight lambs around 9 65. Springers firm, woolskins steady. top week bids near 30 65 for clipping stock.
Copper steadies on the New York market with spot and forward activity around 11.50 export prices. Tin remains steady near 54.00 with forward around 51.50 while lead and zinc show steady spot levels in East St Louis. Chinese wolframite duty paid at 23.75 and broad metals such as pig iron aluminum antimony quicksilver platinum and domestic schemes show little change.
New York API reports a rally in world futures after early declines, with outside buyins lifting prices late Saturday. Final prices fell 13 points with 20 700 tons traded. refined market steady at 4.50 cents per pound.
The Chicago market saw no cash wheat sales on Saturday with only two car receipts. Shippers moved 48 000 bushels. Corn fell 4 to 5 cents, receipts 80 cars, 25 000 bushels sold, 44 000 bushels on books. Oats down. receipts and sales around 21 000 bushels.
The market recovered from a heavy morning slump with short covering as the industrial average fell to 122.43, down 1.77. Rail, utility shares slipped while steels rallied, and trading volume reached 1,660,000 shares, the largest Saturday total since September.
James S. Kemper of Chicago, leader of the Chamber of Commerce of the United States, argues that American business opposes entering foreign wars while supporting strong national defense. He says peace arises from adequate navy, air force, and military supplies, and that defense costs require tax restraint. He warns foreign entanglements would raise debt and hinder government curtailment, comparing dictatorships to receiverships and urging renewed initiative in the economy.
Miss Marion Telford of Chicago, a traffic expert, says figures show men are generally better drivers than women. She notes men take more long trips and drive at night less. women do not vary accident rates much, but men handle slippery streets and heavy rain, making mile for mile and day for day, men better drivers.
STATE COLLEGE Pennsylvania. A Penn State professor of swine husbandry says boxers and wrestlers are not alone in cauliflower ears. Baby pigs show enlarged ear conditions due to strenuous running jumping or impact with other pigs.
Stocks and bands fall as markets slip with Chicago equities down and foreign exchange rising against the dollar. Cotton futures dip sharply, grains in Chicago also drop with wheat and corn lower. Rubber futures ease slightly as the market moves through trading.
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