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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Dec 10, 1980
Page
7
Kansas City wheat futures remained volatile as rising domestic interest rates and European war concerns weighed on the market. The market opened lower, then in mid morning showed a slight recovery, with traders reacting to global tensions and news from Chase Manhattan Bank.
Weather to warm up across Kansas with clearing skies after a winter storm. Lows dipped into the teens to low 30s in the west and remained in the upper 20s to 30s in the east. Forecast calls for highs near 50 in the west and 60 in the northeast, with mid 50s to low 60s over the three days. Snow remained up to an inch in Hill City, Dodge City and Topeka this morning.
Stocks edge higher with the Dow up 1.45 at 935.49 and the Nasdaq at 75.19 as banks lift prime rates to 20 percent. Oil shares gain while investors weigh Poland Soviet tensions and grain risks amid high interest, with July futures down 51 cents weekly.
Mark Chapman, a devout Beatles fan, quit his Honolulu job six weeks earlier and signed the log as John Lennon, then bought a handgun. He allegedly fired four shots at John Lennon outside his New York City apartment, later calmly sitting on the pavement reading The Catcher in the Rye. Lennon had earlier autographed Chapman for a copy of Double Fantasy.
Washington sources say Ronald Reagan faces slow Cabinet selection amid ethics law hurdles and Watergate fallout. Critics note indecision, while allies defend the process as vital, with Haig and Winston pending congressional scrutiny and possible replacements shaping defense treasury state posts.
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