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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 17, 1981
Page
9
New York stocks rise at the open with the Dow up 0.09 to 1,002.88 after Monday’s close near 1,004.69. About 1,032 NYSE issues trade with 3.395 million shares changing hands as analysts note potential quarter-end portfolio adjustments and possible profit taking.
Nonferrous metal prices in New York today show copper at 61.85 cents per pound, lead at 36 cents, zinc at 8? cents, tin at 7081, aluminum at 76 cents per pound, with market quotes from Handy & Harman and daily postings.
Creston livestock sale drew 345 consignors offering 1 213 head along with two yearling dairy heifers at 530, goats, a pony, and varied cattle, hogs, and sheep. Prices ranged across calves, steers, heifers, cows, bulls and feeder cattle with substantial regional demand reflected in the bidding.
UPI reports average cash grain prices paid to farmers by Ohio elevators in principal marketing areas. Northeast regions show No 2 shelled corn 3.17 and soybeans 7.04 per bushel. Northwest and Central areas list wheat 4.02 and corn 3.17, with oats 2.25 and soybeans 7.13 per bushel in other zones. Trend indicates wheat down, corn and oats unchanged, soybeans steady.
Towner Petroleum Co. said it plans to raise 50 million dollars in 1981 by selling five limited partnerships for oil and gas drilling. A registration statement has been filed with the SEC, with sales anticipated to begin in April. About 66 percent of drilling will target development of existing wells and 40 percent for new exploration in the Appalachian basin and states Texas Oklahoma Arkansas and Louisiana.
Chrysler Chair Lee Iacocca argues GM and Ford will struggle to win UAW backing for wage concessions. He notes Chrysler narrowly approved 622 million in sacrifices and that Toyota raised 1981 model prices to offset rising costs, complicating any broad industry pattern.
Negotiations between the United Mine Workers and the Bituminous Coal Operators Association recessed early today as hopes faded for a contract without a strike. UMW President Sam Church Jr and negotiators eyed a potential final push to avert a strike before the March 27 contract expiry, with pension, wages, overtime, and absentee terms among major sticking points.
AP report notes farmers in Ohio with varying egg prices and wholesale butter values. Prices cited include Columbus cartons 75-77 cents, Cleveland 48-49. New York USDA figures show wholesale butter 93 score creamery 155-157 cents, 92 score 162-155. Chicago Midwest prices list Class I large 53, large 52, mediums 45, smalls 40.
Lorain County Farm Bureau Cooperative Association reports closing prices for grains. Wheat sold at 3.93 per bushel, shelled corn 3.16, oats 2.60, and soybeans 7.08 per bushel.
Hallmark and American Greeting Corp. lead a booming St Patrick's Day card market with predicted 20 million cards and a $5 million segment. American Greeting reports 15 percent growth and plans new Blarney Boutique items while Hallmark offers green accessories and novelty goods.
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