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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 16, 1979
Page
22
Selected composite price readings from NYSE and nationwide lists show varied gains and losses as of 10 30 a.m. NYT report from United Press International. Stocks include Air Prod, Alcan, AmCon, AmMotors, AT&T, Ford, IBM, Exxon, Goodyear, Gillette, and many others with mixed percentage changes and price shifts across sectors.
United Press International stock page lists Dow Jones total at 818.86 with percentage changes and nearby indexes. Standard and Poor's index figure shown with prior close data, plus sector summaries for industries utilities andPetroleum.
Wheat No 2 hard red winter quoted around 4.09. No 2 soft red winter about 4.19. Corn No 2 yellow futures near 2.614 and cash around 2.54. Oats No 2 heavy at 1.50. Soybeans No 1 yellow around 6.54. Earlier quotes Thursday put No 2 yellow corn near 2.5844 for hopper and 2.544 for box.
Livestock reports from Des Moines Webster City Sioux City Omaha Joliet and Chicago note hog demand solid with butchers 50 higher in several spots and sows steady. Prices vary by weight from 200 to 600 pounds with USDA quotes and upcoming Monday projections.
Des Moines reports light offerings and steady undertone in hogs and eggs with prices varying across regions. Beef trade is light with steer prices 1.00-2.00 lower, pork values fluctuate, Cedar Rapids markets show higher butchers and steady sheep. Grain quotes for corn soybeans and oats released with Friday prices. Birthday note: Burgess Meredith turns 70.
The United States M1 money supply jumped 3 billion in the week ending November 7 to 379.2 billion, with a seasonal 300 million downward revision from the prior week. Analysts had expected about a one billion rise. M2 climbed 4.4 billion to 942.2 billion, while four week averages show continued gains in both measures.
David Pisney operator of Dairy Queen No 5 2825 Johnson Ave NW was elected vice president of the Dairy Queen Association of Iowa at the Cedar Rapids meeting this week at Stouffer's Five Seasons Hotel. Gary Skyles Spencer was named president and John C Owen Washington executive secretary.
Ernest W. Hahn Inc., developer and operator of Westdale Mall Cedar Rapids, announced on Nov 8 a plan to offer all common stock for sale to a single buyer or group via a cash merger. Morgan Stanley & Co. will advise and a Dec 1 offering is expected. The move aims to maximize shareholder value without disrupting operations.
Chrysler Corp. workers approve a three year pact with 203 million in concessions. The deal includes delayed pay and pension increases and grants UAW President Douglas Fraser a seat on the board. About 110000 employees voted amid ongoing union tallies and government loan support discussions.
New York equities paused in a holding pattern as the Dow dipped about 1.5 points to 819.79 around 1:15 p.m. EST. The NYSE composite inched up to 59.31 while volume reached 18.79 million shares. Banks boosted rates to 15 percent, Crawford Knight-Ridder led gains, and oil stocks posted broad strength amid Iran dollar doubts and corporate outlooks.
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