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This newspaper page contains 23 articles. Subscribers can read the full text of each article.
Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 30, 1971
Page
23
Blue chip stocks drifted lower with the Dow Jones average at 825.28 down 4.45 at 2 PM. Trading was moderately active as declines and advances were nearly even after earlier losses and a brief rally. Analysts tied the fade to disappointment over Britain and Common Market rejection of the U.S. monetary proposal at the Group of 10 meeting.
The text notes stock market mood improving on hopes for easing international monetary problems. It records a Dow gain of about 31 points over two sessions with investors taking profits. On the American Stock Exchange, Syntex fell 4 to 78 1/2, Loew's Corp warrants rose 1 1/2 to 20, Coleman slipped 1/2 to 22, Alamera Oil gained 1/4 to 15, and Riley declined 1/2 to 21.
Des Moines UPI reports interior Iowa and southern Minnesota hog markets moderat e ly active with generally weaker bids. U.S. 1-3 200-230 lb butchers 19.00-20.50, 230-240 lb 19.00-20.00, sows 16.25-17.25 for 270-550 lb ranges, livestock delivered prices shown for 200-450 lb cattle and sheep lambs.
Cedar Rapids city council approved a revised site improvements schedule for the Civic Center urban renewal project to win HUD approval. The 61 page May 5 document, revised May 15, and 33 page June submission followed meetings with HUD officials in Omaha and Cedar Rapids as planners urged timely action for the 1972 construction season. Don Salyer called HUD instructions confusing and said they hoped this would be the last revision.
Unofficial sales figures and dividend rates linked to quarterly or semi annual declarations. The text lists numerous codes for dividend types and actions such as ex-dividend, stock dividends, and rights offerings, with references to timing like last year this year and next cash delivery.
A Korean army enlisted man went berserk and exploded a hand grenade at Yongduk, 155 miles southwest of Seoul, killing himself and a man and wife and wounding four others. The soldier, Cpl. Kim Jung iduk, appeared drunk, broke into a house, threw the grenade, and died alongside his victims. Police said.
CHICAGO AP soybeans fell nearly three cents on Tuesday but a late rally trimmed losses. Settlement saw soybeans around 3.10, wheat down around 1, corn easing, oats near unchanged. Cash grain lists prices for wheat, corn, oats and soybeans with standard No. classifications.
In Waterloo market reports butchers eased by 25 cents while sows held firm. Country prices listed butchers at 19.25 and sows at 17.00. Packing plant deliveries ranged from 19.00 to 19.50 for butchers and 16.75 to 17.25 for sows.
Postville market reports the previous Tuesday quoted beef prices for various classes. Prime steers 34.00 to 35.00, choice steers 33.00 to 34.00, good steers 29.00 to 31.00, standard steers 28.00 to 29.00, choice heifers 32.00 to 33.50, good heifers 28.00 to 30.00, utility cows 18.50 to 22.00, canner and cutter cows 17.50 to 21.50, bulls 25.50 to 29.00.
USDA reports Monday Midwest cattle prices steady to lower as Iowa and river states trend soft. Choice 500-700 lb heifers around 83 dollars per hundred, steers 54 to 58. hogs under 47.50. Skinned hams and bellies listed with varied weights and prices, reflecting a subdued demand and smaller volume.
Sioux City livestock summary shows hogs steady to 25 cents lower with 10,000 head traded. U S 1-3 190-230 lb hogs at 19.75 to 20.00. Sows 50 to 75 cents lower. Cattle receipts 3,500 with calves none. Slayter steer and heifer trades mostly steady with some 25 cent declines. best 1,000-1,250 lb cattle at 33.00-34.00, mixed at 32.00-33.00, slaughter steers 850-1,050 lb at 32.25-33.25, mixed good and choice 31.25-32.25. Sheep about 1,200 headed estimated.
Omaha livestock market figures show barrows and gilts weak to 50 lower with 195 to 250 pound pigs at 19.75 to 20.25, sows 15.50 to 17.50, cattle on lighter demand with steers and heifers mostly down, cows steady to 25 higher, high grade steers and prime cattle around 34.75 for 1100 to 1150 pounds, lambs and ewes steady with lambs at 28.50 for choice and prime shorn.
Total ship ments 142 and arrivals 56 reflect market activity in Chicago. Track sales show Minnesota North Dakota red river valley round reds and colored varieties selling at 2.60 per unit with demand slow to steady and overall market dul l.
AP report notes steady egg and butter markets in New York. Prices for eggs remain within 33 to 38 cents per dozen depending on size and grade, with demand fair to good and butter offerings fully adequate.
The Iowa Illinois Gas and Electric Co mailed regular quarterly dividends of 34.5 cents per share to about 18 410 common shareholders. For the ten months ending Oct 1971 earnings available for distribution were 6 304 041 dollars or 1 23 per share versus 8 304 940 dollars or 1 63 in 1970. For the 12 months ended Oct 31 1971 earnings were 7 909 542 dollars or 1 55 per share down from 10 449 622 dollars or 2 05 in 1970. Kilowatt hour sales rose 5.1 percent but gas sales fell 6.2 percent due to less interruptible gas. Whitmore noted rate-increase applications filed Aug 30 1971 with commissions seeking about 11 584 000 dollars annually.
Milwaukee maker of heavy equipment Harnischfeger Corp was listed on the New York Stock Exchange with ticker HPH. Chairman Henry Harnischfeger bought 100 shares on the trading floor as the company’s 1,563,341 shares began trading after moving from the American Stock Exchange.
IPSA founded by Thomas Murray plans private stamps for Christmas card delivery challenging USPS monopoly on first class mail. Murray vows court action in 25 cities, argues stamps cheaper and can be used with U.S. postage. USPS warns stamps may not be used on U.S. mails and could cause postage due charges.
San Jose State instructor Dr. Edgar Anderson sues Waverly publisher Eduards Dobelis doing business as Latvia Gramata in Cedar Rapids federal court. He alleges copyright of Latvia Past and Present, claims infringement since 1968, seeks injunction, at least 25000 in damages, return of all copies and destruction of plates. Anderson asserts Dobelis added defamatory material and copied largely from his manuscript. both are exhibits.
Blustry winds and heavy rain hindered U S defense search for a Chinook helicopter down in the East China Sea with 33 GIs. A military spokesman said the weather is making things hard for the searchers with 25 knot winds and low visibility.
The March 11 bombing of the U S Capitol cost $118,139 to repair, about $80,000 less than prior estimates. Acting Capitol Architect Mario Campoli disclosed the figure in testimony released by the House Appropriations Committee.
Want ads guide readers to locate host items with speed and ease. Short classified prompts emphasize practical search methods, urging readers to place listings and browse available goods efficiently. The notice echoes a bustling classifieds scene.
Washington AP report says secretary Romney announced a 1 million dollar grant program to expand housing for the elderly. HUD will contract with nonprofits for technical aid and information, with new congregate housing rules to avoid premature institutionalization and options for elderly to move into smaller units if house poor due to taxes. He cited 70 percent of seniors own homes, many mortgage free, yet 1.6 million over 65 lack basic plumbing and many live in deteriorating urban and rural areas. Public housing occupancy by the elderly has risen 400 percent in a decade to about 320,000 units.
Washington UPI reports Representative Les Aspin Democrat Wisconsin introduced legislation to permit taxpayers to deduct up to 1500 dollars for expenses incurred in adopting a child. The measure seeks to ease the financial burden of adopting and aims to simplify the tax treatment of adoption costs.
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