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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 10, 1957
Page
2
New York stocks slid in a broad market retreat the worst in two years as depressing industry news and forecasts of delayed post Labor Day gains weighed on confidence. Broader market activity showed heavy trading as investors faced higher inventories and cautious spending signals.
Soybeans advanced early on short covering but profit taking trimmed gains. Corn rally checked by hedge selling. Wheat mixed to up marginally with Dec contracts near 2.19 dollars, soybeans steady to higher on Nov. prices, and oats and rye easing. Chicago cash grain reports note minimal wheat and soy offerings and modest meal and oil prices. Omaha cattle receipts and price ranges show steady to uneven demand with varied steer and cow valuations.
Chicago markets show steady live poultry with no price changes and cheese at steady levels for several varieties. Butter demand remains strong with varied scores and large egg receipts noted. New York reports steady butter and egg prices with mixed quality levels and receipts, reflecting broad market stability.
USDA estimates Friday salable receipts include 8,000 hogs and 1,500 cattle. Butcher hogs and sows showed steady to 25 cents higher, with 200-260 lb hogs around 17.25 to 17.50 per cwt and larger sows 16.50 to 17.25. Calves and stocker cattle mixed, notable lots of 1,100 lb steers at 25.50 and 900-1,250 lb steers at 20.25 to 24.75. cows largely steady to 25 cents lower.
Prices for good No 2 hogs remain steady with plant delivered quotes in Cedar Rapids. Meaty high yield hogs and sows can reach up to 50 cents over the quoted values while No 3 overfats may run 50 cents below. Grain and egg prices board show soybeans and yellow corn trends with eggs listing various sizes and dirties.
Police report lists multiple drivers fined for traffic violations in Marion and surrounding areas. Community notices cover a Sunbeam Maidens Blue Bird group officers, school influenza absences, hospital updates, local sales, and social events including Halloween planning and a boat trip to view fall colors along the river.
U S District Judge Thomas J Clary ruled for trucking interests in a rival suit against Eastern railroads. He denied the $259 million demand and awarded 37 firms 18 cents each in nominal damages, ending a four month trial after a counter suit of $120 million was heard.
Mixed classified items advertise watch repair at PROBASCO JEWELRY and home sewing machine repair by AAS Sewing Machine Repairs. Notices seek riders from Cedar Rapids to Los Angeles, septic tank pumping, sewer service, plumbing, rubbish hauling, and job openings for sales and public finance positions with Roosevelt Hotel and 117 1st Ave SE.
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