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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jul 06, 1971
Page
9
AP report from Columbus outlines eggs paid to packing plants for delivery to Ohio cities with U S grade ranges and carton sizes. Prices for large eggs and promotional poultry costs are listed alongside farm prices for hens and potatoes ranging from 4 50 to 7 00 per hundredweight.
Trustees of Penn Central plan to sell land and other assets unrelated to rail operations if it helps restore profitability by 1976. Jervis Langdon Jr. says core focus will be running the railroad and public service while pursuing a broad asset review, downsizing to about 75 000 workers, and cutting costs to end red ink amid ongoing bankruptcy proceedings.
A garbled snippet discusses possible policy actions during a crisis. It mentions self help measures, labor conversations, federal treasury funds, and questions about efficiency and possible nationalization, reflecting uncertain economic debate.
New York stock market advances at open with gains leading, but banks lift prime lending rate to 6 percent from 5. Market totals show Dow Jones at 890.19 and AP 60-stock average at 319.7 after light volume of 9.97 million shares. Some see potential for a summer rally amid rising consumer spending and housing starts.
Cincinnati AP USDA cattle and calves totals 1,200 and 100 respectively. Slaughter steers and heifers fairly active with higher end prices around 31.75 to 33.00 for yield grade 2-3 in 900 to 1,150 lb steers. Heifers reach 30.00 to 31.00 for grade 2-3 in 800 to 1,000 lb ranges. Cows and bulls utility and commercial between 21.25 and 23.00.
Industry Week reports weak July orders for steel delivery and little demand for August and beyond.U.S. mills have large inventories comparable to 1968 levels, with 2 to 3 months needed to draw them down. Steel production is being cut faster than expected and some facilities have shut or reduced shifts.
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