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Newspaper
La Crosse Tribune
Location
La Crosse, Wisconsin, United States of America
Date
Mar 13, 1973
Page
13
UPI reports hour by hour index data with many issues showing mixed gains and losses across sectors. Major names and firms such as Ford General Electric IBM and General Motors appear with fluctuating values, reflecting a broad market snapshot.
Milwaukee cattle market closed steady to 50 higher with steers 41.00-45.50 and heifers 38.50-44.00. Holstein steers 41.50-42.50, dairy cattle 37.00-38.00, cows 36.00-37.50, bulls 40.50-43.00. Calves strong to 2 higher. choice calves 66.00-76.00, feeder calves 76.00-110.00. Also note Minnesota regional stock indices closing around 86 securities.
In Chicago trading futures prices across grains and soy products tumbled as the session closed. Old crop soybeans hit the limit down 15 cents, March options slid sharply. soy meal fell $5 a ton, March option down $9. soybean oil closed 25 points under the prior close after briefly rising. Wheat finished at the limit down 10 cents. corn down 4 cents. oats down about 1.5 cents.
Cattle and calves an active trading day with 4000 head. Slaughter steers and heifers mostly 46.50 to 46.00 per hundredweight with high choice loads at 46.00. Cows firm to strong with utility bids 31.50 to 38.00. bulls 38.00 to 43.50. Hogs 6000 head gain 1.00 with various weight ranges. sheep slow with sparse early sales.
The Journal Co. posted 1972 net income of 8,553,149, up 26.5 percent from 1971's 6,761,422. Total revenues reached 131,648,000, with major income from newspapers and media holdings including WTMJ stations and a cable system. Employee ownership rose to 82.5 percent this year.
Wheat No 2 soft red 2.37 percent No 2 hard red 2.26 percent. Corn No 2 yellow 1.61 percent. Oats No 2 extra heavy white 90. Soybean No 1 yellow 6.71 percent. No 2 yellow corn last Friday sold at 1.61. Midwest egg wholesale prices Monday unchanged with extra large 52, large 52, mediums 47, pullets 40, standards 45, checks 31.
The Wisconsin Supreme Court ruled Security Savings & Loan Association need not pay interest on customers escrow deposits for taxes and insurance. The decision supports the Milwaukee firm in a case brought by Alvin and Mrs Richman and Gordon and Mrs Ruth, affirming a lower court ruling that no trust or fiduciary relationship was created.
The article reviews shifts in U S employment from farming to services and industry, citing declines in agriculture from 7.4 million in 1960 to 3.9 million in 1971. It highlights Bank of America and BankAmerica Corp. as major employers, Merrill Lynch gains, steel mill declines, baking industry job cuts, and a pet foods market boom with projected dog and cat births rising toward the 1980s.
Wisconsin cheddar cheese prices hold steady to firm as demand stays good and supplies are adequate to short. Barrel styles 6 1 64 cents, 40 pound blocks 63 4 66 cents, singles 69 70 cents, longhorns 69 70 cents, midgets 69 42 71 cents.
GM told the EPA it cannot comply with the 1975 auto emission standards and urged a one year delay. GM vice president Ernest Starkman proposed strengthening current limits with softer 1975 rules and optional catalytic converters only for cars sold in California. Ford and Chrysler floated similar compromise plans.
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