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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 27, 1936
Page
17
Cooler weather boosts retail activity in multiple regions while steel operations, freight car loadings, and electric power output reach new recovery highs. The AP index shows industrial activity rising. freight loadings up 12.8 percent week over week and 11.7 percent year over year.
London observers weigh France's devaluation and the Franco-Swiss move as currencies drift and exchange quiets. Officials expect France to pass the plan though doubts linger, with prospects of Belgium and others devaluing and gold and dollar rates set to reopen.
United Press reports stocks higher in active trading while bonds rise irregularly. French municipal and railway issues fall up to 8 points, governments down as much as 7. Curb stocks and Chicago markets rise slowly. Foreign exchange nearly paralyzed with sterling around 4.92 to 4.95 dollars, guilders at 66.77 cents, and franc quotes near 4.5 to 5.5 cents. Cotton stocks slip 7 to 9 points.
Union Pacific has received the first of fifteen new Challenger type locomotives built for high speed freight service. The $2,000,000 order from American Locomotive Co will deliver the remaining units over the next 90 days. The engines pull a 100 car freight at high speed and feature a 4 6 6 4 articulation with large coal and water capacity.
AP reports closing prices for dairy and potato futures in Chicago. Butter futures for storage standards show 32 percent, egg futures reflect refrigerator standards 25 and 25.4 cents, potatoes show Idaho Russet prices at Oct 1.90 and Jan 2.30.
Foreign exchange data could not be obtained as banks were not trading on Saturday. No rates or currency quotes were available from major banks or dealers.
AP dispatch from Minneapolis lists flour prices by carload in 98-lb sacks with patents unchanged for Family at 7.40 to 7.60 and Standard at 6.95 to 7.15. Shipments total 24,320 with pure bran priced 23.50 to 24.00 and Standard middlings 26.00 to 26.50.
Hogs in Austin Minnesota show steady bids with 180 to 200 pound hogs at 9.10 to 9.40 dollars per hundredweight and 220 to 50 pounds at 9.35 to 9.68. 350 to 290 pounds priced 9.30 to 8.90, 325 to 350 pounds 8.60 to 8.90, barrows and gilts 275 to 550 pounds 7.40 to 8.40.
Butter receipts 10 079 and eggs 17 137 hold steady prices. Live poultry receipts 8 trucks remain steady. Potatoes total 613 shipments with supplies moderate and demand slow due to Jewish holiday. Prices for Idaho russet Burbanks range 2.05 to 2.50 per cwt with various quality grades. Washington russet 2.35. Colorado Reds around 2.00 2.05. Oregon calls 1.40. Wisconsin cobblers 1.75. Minnesota cobblers 1.60. North Dakota cobblers 1.70. Bliss Triumphs 1.50.
AP reports eggs receipts at 17 270 unchanged with mixed colors. butter receipts 10 983 unsettled with creamery higher than extra and various scores. Cheese receipts total 82 971 quiet. live poultry nominal with no quotes. Dressed meats fresh and frozen prices unchanged.
New York traders saw a partial market recovery with early buying pushing shares up despite later profit taking. Strong rail stocks led gains while French devaluations and European currency moves caused mixed sentiment. volume neared 900,000 shares and several sectors showed strength including steel, autos, and commodities.
Linn County Iowa Board of Supervisors met in Cedar Rapids on September 15 1936 in regular session Present: Supervisors Stirm Seevell Robovsky One motion accepted care sum for C Leslie Cooper and a resigna tion of Leta Smith as Clerk in Relief Office The Auditor was authorized to draw four weekly warrants on the Widow's Pension Fund and taxes suspended for Old Age Assistance recipients Tax relief approved for listed properties and towns A resolution accepted John J Wagner offer to buy Lot 1 Block 39 Marion for 500 with deed and abstract. county title to be merchantable.
Washington reports August construction activity fell 8 percent from July while remaining 51 percent above August last year. Residential permits dropped, but non residential permits increased over 8 percent and additions and repairs rose 9 percent. year to date gains show 74 percent more value in eight months, with residential permits up 124 percent from 1935.
Hogs show no change in all grades on Saturday with the top price remaining at 9.80 dollars. Cattle market also unchanged keeping steady prices across deliveries.
Cedar Rapids market listings show grain prices for corn, soybeans and barley, with hay and straw values and assorted produce items. The article also notes a Boston wool market report from the U S Department of Agriculture, describing moderate activity and price ranges for medium and fine wools, with Ohio wools quoted at specific grease and staple rates.
Chicago grain futures closed with little change amid thin activity caused by franc devaluation and unsettled exchange conditions. September corn was closed out with a false squeeze feared but proved unfounded, while September wheat edged up fractionally and other contracts held steady. Oats, rye, and barley posted slight moves as Liverpool and Winnipeg shifts influenced prices.
Bankers acceptance rates range from 3.16 percent to 3.16 percent for 30 60 and 90 day maturities. Rates for 120 days show a placeholder and 150 180 day periods reach 5.16 percent. Commercial paper sits near 1 percent. Time money offers 1 percent up to six months. Call money stands at 1 percent.
Volga City reports the Camp Fire girls elected officers on Wednesday with Mil dred Grenand as president Ruth Merriman recording secretary Helen Boenish corresponding secretary and Emily Hungerford treasurer The Sacred Heart Study club held its meeting on Thursday A dinner observed Mrs William Wenger's birthday The Presbyterian Ladies Aid met Thursday.
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