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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 20, 1996
Page
13
Deere & Co says it will deliver 630 combines and 100 cotton pickers to Kazakhstan in 1997, the second largest sales to date after 1,049 combines to Ukraine. Units produced in East Moline and Ankeny, Iowa.
Yields on two year Treasury notes fell in Tuesday's auction to the lowest level since February. The high yield was 5.662 percent, down from 5.930 percent at the last auction. The notes carry a 5 percent coupon and sell for 9,993.10 per 10,000 in face value.
Chicago based Office 1 Superstore filed for Chapter 11 protection and will liquidate all merchandise across 35 outlets in 11 Midwestern states including Lindale Mall Cedar Rapids. Gordon Brothers Partners will run liquidation with store staff, selling about 17 million in goods to satisfy creditors.
U S housing starts dropped 5.1 percent in October to a 1.37 million annual rate, led by declines in the Northeast and Midwest while the West rose 6.5 percent. Single family starts slipped 4.6 percent to 1.07 million, the weakest since June 1995.
The Dow Jones rose 50.69 to 6397.60 on brisk volume as IBM's surge drew money managers into blue chips. Advancers outnumbered decliners 7 to 5 on the NYSE, with 454.42 million shares traded, while Eastern Iowa issues saw 26 rising and 11 falling.
The Iowa Economic Development Board approved 500000 for LeFebure Corp relocation to Cedar Rapids with 6.9 million investment and 2.5 million city abatements, creating 150 jobs. Oral B Laboratories expansion in Iowa City adds 56k sq ft, preserves 40 jobs, adds 55 new positions. Monsanto Muscatine plant expansion will create 53 new jobs and 150 to 300 construction jobs with production starting in fall 1997.
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