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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 19, 1939
Page
3
Industry whirred at a ten year peak with orders piling up to sustain near capacity output into 1940. Analysts cite war abroad boosting activity but debate whether peace would sustain the revival as steel and electric power show modest shifts and freight and retail trade hold steady.
Washington AP report on a roundtable of 200 industry leaders forecasting U S construction gains if the nation stays out of war. Analysts project 10 to 12 billion annual output next years, with commercial and manufacturing building up and residential rise, while war could dramatically shift activity.
Auditors note the 1941 outlook shows a move away from federal pump priming as PWA programs wane, with army and navy construction possibly offsetting some losses. A revival in business slowed after the European war began, while costs show stable construction with 7 percent price drops for materials and 20 percent higher labor costs.
A list of local permits shows residents and firms filing for remodels and new structures. Names include E G Dudek at 1418 Oakland Rd NE and Harold Drew at 235 Nineteenth St NW, with values from 25 to 4,800 dollars. Others cover reroofing, garage additions, and commercial remodels across multiple streets.
Stocks firm and dull while bonds show irregular movement. U S governments rise and curb stocks edge higher in Chicago with uneven gains. Foreign exchange remains steady against the dollar. Cotton features hold steady as Chicago markets rise. Wheat climbs about 4s to 4 1 4 cents and corn gains near 4 1 4 cents. Rubber futures stay firm.
The New York market shows little action with a drift toward aviation and merchandising shares. Coppers utilities and rail equipment gain favor at weekend. conditions remain firm and services expect stock purchases for the near term. Several leading comics may boost dividends next week.
The Cedar Rapids Chamber of Commerce reports October shows high business activity with 249 building permits valued at 177 856 dollars. Real estate transfers drop to 206 while inbound carloadings rise to 4 227 and outbound cars fall to 3 652. Bank clearings and debits increase, telephones rise, electricity use dips, gas consumption climbs, employment falls, vehicle sales up, and post office receipts rise in October.
Conveyances and mortgages recorded November 10 to November 16 list 43 conveyances and 27 mortgages totaling 75007 dollars. Compared with last year, mortgages total 77107 dollars with no conveyance or mortgage counts provided for that period.
A Cedar Rapids price list shows grain quality classes for wheat including No. 1 at 75c and No. 2 at 32c, rye No. 2 at 39c, barley No. 3 27 35c, soybeans new crop No. 2 yellow 84c, and hay and straw figures. Poultry prices list hens over 5 lbs at 6c, springs over 5 lbs 11c, leghorns and lights varied, and miscellaneous items including cocks and butterfat figures.
A dense listing shows wholesale fruits and vegetables with prices for lemons oranges and cranberries, plus beef hides horse prices and railroad stock quotes. The fragment also references Mississippi River stages Davenport and stock prices from Centre States Electric and Iowa utilities, ending with a shuffled note on bonds and utilities.
Neisner Brothers extends its five cent to one dollar store by adding a modern shoe repair department with new machinery and comfortable waiting booths. Local craftsmen are employed in the new department.
AP notes mixed fruit and vegetable prices with varied standards and weights. Entries include pineapples, tomatoes, greens, onions, and turkeys with fluctuating cent price ranges.
Local securities report notes bids and offerings on Cedar Rapids bonds. Financial editor outlines options for raised funds and municipal debt strategies.
Irregular trading shows bonos and rail shares fluctuating with a rising trend in some overseas issues while others slip. Names like Vienna City and Baltimore & Ohio appear with fractional changes, as corporate issues are trimmed amid cautious sentiment.
Market notes show wheat futures in Winnipeg opening with a 1 to 10 percent drop amid 70 percent uncertainty. Traders weigh supply, demand, and weather risks as prices slip from prior levels.
Improvements totaling several thousand dollars were completed here last week with two more modern store fronts. In Manchester a grocery and meat market on South Franklin Street and a meat market on East Main Street gained new fronts. Five modern fronts have been added in the past year. A new Texaco filling station is under construction on West Main Street near the new bridge, leased to Texaco and to be run by Charles Maxwell. In Elkader Hagensick Drugs moves to new quarters by December 16 after being sold. a long-term lease at the Bayless hotel corner is set, with fixtures updated and a planned front next spring. In Decorah Larsen Clothing will modernize its front, install a new heating plant, and convert the second floor to offices after the holidays. In Manchester Clyde Bigham begins a five-room colonial bungalow on West Butler Street opposite St. Marys Church. Sidney Simons is the contractor. Harold Malone of Sinclair Oil builds a combined office and store on Iowa Street, with landscaping planned. In Strawberry Point, Art Polen buys the Sanitary Meat Market from Fred Davis and Charles Blanchard and will take possession after redecoration. In Brooklyn the FPWA grant for Brooklyn High School addition grows from 36000 to 39015 for equipment and an auditorium gym.
AP reports a Saturday wheat receipts tally at Minneapolis with 161 cars this year versus 102 last year. Prices quoted show gains for several grades including No 1 heavy northern at 884 percent, No 1 dark northern at 87 percent, fancy No 1 aes at 4 percent, and other classes such as No 1 hard Montana and durum with varied percentages.
The New York stock market rose slightly in a dull, aimless session with 280000 shares traded, the smallest Saturday turnover since Oct. 14. Allied, Flintkote, and Monsanto led gains while motor shares advanced modestly. copper plays boosted Kennecott and Anaconda. Airlines were quiet despite Allied orders, steel rose modestly, and utilities saw only early activity as broadly mixed groups posted fractional advances.
Wheat on the Chicago board rose early after a narrow range, advancing 53 to 144 cents before retrenchment. Soybeans surged 2¼ to 2¾ cents with strong export demand while weather forecasts and drought in the southwest limited relief, farmers watching Canadian and U S market signals.
Chicago cash provisions show mixed weekly wheat and corn prices with No 2 and No 1 soybeans and various oats barley timothy and clover and alfalfa seeds. Prices are given per bushel or per hundredweight with some figures indicated as nominal.
Copper steady at 12.50, tin firm near 1.50, forward around 438.50. East St Louis zinc quoted 6.50, pig iron aluminum antimony platinum and wolframite unchanged. Spot prices and forward contracts cited for New York and regional markets.
For the fifteenth consecutive week Cedar Rapids bank clearings exceeded the prior year. The Clearing House reported $1,484,691.99 cleared for the week, compared with $1,381,297,268.37 for the week ending Nov 19, 1938, and $1,308,518.24 for the week ending Nov 11.
Grain quotations for Chicago are provided by Lamson Brothers and company. H. R. Mowrey manages the Cedar Rapids office located in the 565 Merchant National Bank building.
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