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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 25, 1976
Page
10
New York AP reports stock market downturn Friday as faster money supply growth and early selling dampened gains. Dow fell to 1060.31 and weekly results closed with a modest gain amid mixed NYSE, American, and NASDAQ readings.
A reader outlines early investment bets including margin trading, junk stock speculation, and diversification into utilities, blue chip houses like Borden and Pillsbury, and convertible debentures. The adviser urges long term quality holdings in solid industrials and growth prospects, with caution on margin and option selling and emphasis on understanding convertible price and risk.
In Council Bluffs Iowa a pet raccoon attacked an infant in bed leaving the child in serious condition at an Omaha hospital. Deputies said the animal was a family pet and the parents heard the crying before finding the attack. Fontenelle Forest naturalist Andrew Saunders warned raccoons kept as pets can be highly unpredictable and dangerous when humans handle them.
speculative selling pushed soybeans lower on the Chicago Board of Trade. Soybeans closed down as much as 14 cents a bushel with wheat oats and corn also retreating. December futures showed corn around 34 to 44% lower and oats down 2 to 3 cents, while soybeans declined 10 to 14 cents.
Black Hawk county judge rules Leroy Rand 17 from Jesup will face district court in the murder of Mark Coombs 19 Cedar Rapids. Prosecutors argued the crime and nearing 18th birthday justify adult trial while defense claimed no basis for transfer. Duane Brant 19 Waterline pleaded guilty to aiding and abetting the same murder.
Former Xalona Mayor Richard Dysan Adare denied murdering his wife found shot at the family home on August 20. He faced arraignment in Washington county district court on the murder charge, with no trial date set and bail at 100 000 dollars. Adare resigned as mayor after the charge.
An OCR readout notes Ford Motor Co and others on an eight hour day five day week move, marking a historic labor shift for the era. The line hints at broader industrial labor reforms but details are sparse and ambiguous.
Louise Cook discusses FDA efforts to ban artificial colorings and consumer gaps in nutrition knowledge. A survey of 1,600 Americans shows many misjudge foods' nutrition, with milk, beef, tomatoes, and bread commonly misrated for bone, eye, skin, and immune benefits.
Cedar Rapids public library trustees reelected TA Schimberg of 100 Thompwe Dive SE as president and Jerry Elses of HOH Devonshire Drive NE was appointed vice president for the new term. The report notes the ongoing leadership change and the board's governance in Cedar Rapids.
The Indian Creek Nature Center hosts a Sunday hike from 2 to 4 pm led by Director Curtis Abdoudi. Participants will observe insects and leaf litter recycling, with activities winding down after the first hard frost. Nonmembers pay 50 cents. Nature Center members are charged a reduced fee at Otis and Bertram roads.
Prince Vittoria Massimo of Rome reportedly told the London Evening News he may become a Muslim or marry Brazilian model Josepha Soares as part of personal plans on arrival in London to finalize formalities for Tigge to model.
Thirty Cedar Rapids students earned letters for high performance on the National Merit Scholarship examination, with about 25,000 nationally recognized. Honorees include Jefferson-Keeley Mooney, David Ellis, and David Benford, among others, representing under two percent of seniors nationwide.
A Belgrade commission reports a wing of a Yugoslav jet collided with a British airliner at 23 000 feet, killing the British pilot and co-pilot. Both planes broke apart, witnesses said a Yugoslav wing separated, the craft spiraled to earth near Zagreb. Controllers face charges as four jailed, supervisor charged.
Two Sioux City men, Joe T. Grant and R. Dudley Conner, were elected to the banks of Town board. Grant, retired board chairman of First National Bank in Sioux City, remains a bank director. Conner, president of Knapp and Spencer Co., Sioux City, is also a First National director. The Sioux City bank is part of Banks of Iowa, the large Iowa-based holding group, which has a pending affiliation with First Trust and Sayings Bank in Davenport.
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