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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 04, 1975
Page
19
Prices moved higher on Tuesday as a cautious rally formed on the New York Stock Exchange. Trading was light with mixed performance across sectors and Sony among the most active issues amid overall gains for the day.
A surge of new buying lifted soybeans and wheat futures on the Chicago Board of Trade with soybeans up 6 cents and oats and wheat higher. Corn was mixed while soybean oil gained and soybean meal mixed as traders closed with higher prices across several contracts.
Cedar Rapids hog market fell Tuesday with bids for 200 to 230 lb butchers at 47.00 to 47.50, sows 300 lb down at 42.00 to 42.50, and lighter and heavier weight discounts noted. Nearby grain quotes include No. 1 yellow corn at 2.32 and soybeans at 4.49, with mixed regional notes from Waterloo and Des Moines on meat and pork trading, prices, and plant delivery.
Sgt Randy Sanders daughter of Louise Sanders of 1600 First Street NW has graduated with honors from drill sergeant school at Fort Jackson South Carolina and will be stationed at Fort McClellan Anniston Alabama.
David Lint a Cedar Rapids man serving time on a receiving stolen property charge is charged with jail escape after leaving Linn County jail on work release and not returning when fired from his job. He was sentenced to one year with six months suspended and was brought to jail August 26.
The Ford administration plans to pull the United States from the ILO over what it calls a growing political stance. A formal notice will be sent to Geneva, with two years’ notice required, as officials seek changes to avoid withdrawal. The move follows U S strains with the ILO including last year’s delegation walkout after the PLO gained observer status.
Congressman Michael Blouin announced that the General Services Administration awarded Collins Radio a contract worth up to 1.5 million dollars for telephone equipment manufacturing and purchase. The contract runs through next June.
William Holschlag, 32, of rural LaPorte City, remains in critical condition in a Waterloo hospital ICU after his car left a blacktop road and overturned near Washburn Monday night. Doctors report a possible broken spine.
Alexander Schmidt reported a year long inquiry found no proof that FDA reviewers faced harassment or that the agency favored drug companies. He described internal communication problems but upheld the integrity of the drug approval process amid Senate questions and outside reviews.
Martin Marietta Corp posted a drop in both sales and earnings for the third quarter of 1975 with net income of 21.4 million or 91 cents per share on 290.1 million in sales. For the first nine months, sales were 782.3 million and earnings 41.4 million or 1.76 per share. The aerospace division rose while cement and aggregates room for improvement due to weak construction activity. The Cedar Rapids area houses the central division office and several land and aggregate operations.
Paxall Inc stockholders approve cash sale of substantially all Cherry-Burrell assets. Purchaser is a new AMCA International Corp subsidiary, part of Dominion Bridge Co Ltd, a Canadian firm. Sale effective Oct 31 after stockholders meeting. Cherry-Burrell, now Paxall, had a Cedar Rapids dairy equipment plant and became a Paxall division.
Wilson and Co Inc meat and food group of LTV Corp reported a 1975 third quarter net loss of 6.3 million versus a 178 thousand profit a year earlier. A 10.6 million charge tied to plant closure plans in Omaha and Kansas City drove the loss even as sales rose to 547 million from 499 million. The nine month period shows a net loss of 3.2 million.
Walter Kidde and Co. says primary earnings per share rose 20 percent in the third quarter and 21 percent for the first nine months of 1975 versus 1974. Third quarter EPS reached 97 cents, up from 81 cents, with net income at $10 million from $8.43 million. Sales totaled $305.6 million, up from $287.8 million. Kidde is parent of LeFebvre Corp with a Cedar Rapids plant.
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