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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 29, 1950
Page
3
By J A Livingston a business analyst notes U S corporations show strong July September results that suggest 1950 earnings may approach or exceed 1948 records. Higher taxes loom as a risk, with added dividends and conservative plowing back of profits.
Stocks fell last week amid fear of an excess profits tax with heavy volume on Thursday as President Truman signaled possible tax action. The market lost about 2 billion in value before a partial Friday rebound. Bethlehem Steel, Chrysler, GM, and oil shares showed notable moves with many sectors down despite upbeat earnings.
Wendelin Schweitzer was hired in Havre Montana to remove a bull snake from the brake drum of a car owned by Mrs Thora Rogers. The odd task highlights the unusual jobs garage workers sometimes undertake in the area.
Tama-Francis Kupka has been appointed manager of the American Legion club succeeding Ray Mond Crawford. The change places Kupka at the helm of the local veterans group and club operations.
Ralph Damon, president of Trans World Airlines, steadies the carrier through postwar turmoil by waiting six months before changes, touring routes, and engaging staff. Born in New Hampshire, he rose from humble beginnings to engineer Curtiss-Wright and Harvard engineering, pairing business success with a lasting marriage to Harriet.
Cedar Rapids residents glimpse two Tucker cars en route to promote a California auto firm. One towed, one driven by the firm's owner, said to be among the 23 sold at a New York auction. the firm produced 30 cars, seven wrecked or junked. Cars near Eighth Avenue and Eighth Street SE. price cited between 2500 and 2800 dollars.
Decorah Skelgas plans a wholesale gas battling plant with a 30000 gallon tank plus buildings at an estimated cost of 35000 dollars. Wellman C M Stoner and son open a Gamble store. Dyersville Hentges buys May building for John Kramer tavern. Clarence new service station to be built on Lincoln highway site with concrete surfacing and 30 by 40 foot station. McGregor Ott named Milwaukee railroad station agent succeeding Tom Hogan after 40 years. Tama Benda and Strachota form Tama Farm Service Company for custom rebuilding of farm equipment. Coggan Rum Inn opens. Marengo L C Scott to lead Swift plant in Hampton. Kurtz to succeed him in Marengo. Tama Bru and Custer add paint and wash shop. McGregor Sears Hoseley opens fashion shop. Clarence Chapman funeral home operators lease London residence for funeral home. Colesburg Davis buys Rite Way feed store. Hawkeye Roy Sherren buy Aurora cafe. Clermont Louis A Olson buys Phillips 66 service station.
Residents watch as a Cedar Rapids built super tandem crushing and screening plant operated by Niemann Construction roams Auburn. The 37 ton 40 foot machine with triple deck screens yields 1500 yards daily while 15 trucks haul gravel for road repairs in Fayette county.
Tibet ships wool and livestock products along with hides salt borax tea and musk for foreign trade. The export mix highlights regional resources and trade links with outside markets.
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