29 Oct 1997
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 29, 1997
Page
1
A dramatic trading day saw the Dow surge 337 points the largest rise in history as markets worldwide rebounded from steep losses. The S&P 500 rose 43 to 919, the Nasdaq climbed 68 to 1600, and the Russell 2000 gained 9 to 429.89 amid massive volume and volatile swings.
Each of the five biggest Dow declines was followed by a sharp rebound on the next trading day. About 1.2 billion shares traded on the NYSE and roughly 2.5 billion across major exchanges set new records, surpassing levels from 24 hours earlier.
The Gazette/KCRG political forum at Coe College drew sharp exchanges between mayoral candidates Lee Clancey and Carol Martin. They sparred over the Montessori center, downtown safety, taxpayer funding for a private school, and parking lot redevelopment amid core-business shifts. Martin pressed on comment time limits at council meetings.
Olga Sedenka, 71, stayed home as power remained out for a third day on Red Fox Road SE. Crews restored power to her street around 9 p.m. Tuesday after trees caused transformer and service-line damage. Interstate Power linemen worked with IES crews to energize the circuit once fixes were completed.
Cedar Rapids has issued 25 bow hunting licenses for a city season to reduce deer numbers. State DNR official Aric Sloterdyk notes hunters focus on rural areas during the rut and expect more city hunting after mid November. The program runs through January 10 with up to 300 permits available.
HUD notes nationwide cuts to Section 8 subsidies as new legislation allows renewal for one year but requires rents to align with local market rates. In Iowa 43 000 households receive aid with Davenport Waterloo and Des Moines seeing 19 to 27 percent above market rents previously.
Author and illustrator Ashley Bryan spoke to Harrison Elementary students in Cedar Rapids sharing poems stories and spirituals celebrating African American culture. The event highlighted his work as a poet anthology and artist and aimed to inspire creativity and cultural appreciation.
Police believe a series of motorist related incidents may be the work of a copycat. Details available in the 1B section.
Matt Sherman responds to comments after Kansas football losses saying criticism should target his play not his character. He stresses resilience and focus on future games.
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