Galesburg Register-Mail from Galesburg, Illinois on July 14, 1973 · Page 22
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Galesburg Register-Mail from Galesburg, Illinois · Page 22

Galesburg, Illinois
Issue Date:
Saturday, July 14, 1973
Page 22
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0 thf" S t ^ t X 22 dkalesburg Refljstef-Mail,Golesbuffl, Saturday, July 14, 1973 Market Reports Today GALESBURG GRAIN MARKET Consumer Grain & Supply Co. M»rk€t may either go up or down , by 1:30 p.«i. when final bid t , arrives. 11:30 o'clock bid. • No. 2 Corn (old) ..,....$2.27 i No. 2 Com (new) ,$1.93 : No. 2 Oats (new) 81 No. 2 Beans (old) $7.30 No. i Beans (new) ....$6.30 No. 2 Wheat (new) $2.65 ; bow Jones Averages . NfJW YORK (UPI) - Weekly Dow Jones averages, including intra-day highs and lows: Open High Low Close 30 Ind 868.90 911.80 863.94 885.99 20 tran 155.83165.97154.56161.75 tips and Downs 15 Util 100.68102.82 99.98101.55 65 stks 266.07 278.66264.35271.85 Net changes: Industrials up 15.88; transportations up 5.92; utilities up 0.93; stocks up 5.58. Grain Futures CHICAGO (UPI) - Wheat, corn and oats were substantially higher and soybeans mixed this week on the Board of Trade. Wheat was up 6V2 to 15 cents; corn up 13^ to 29Vfe; oats up 3% to 5, and soybeans off 25 to up $1.57. Stock Mart Follows Course Of Dollar During Past Week By FRANK W. SLUSSER UPI Business Writer NEW YORK (UPI) - The stock market followed the course of the dollar on the New York Stock Exchange this week, finishing with prices higher but investors uncertain Week on Wall Street ;;' Trading picked up on the rise but dwindled Friday with the return to the downside. The dollar advanced on for eign currency markets for the first three days and the market rallied, pushing the Dow Jones industrial average more than 38 points higher. But the dollar declined in price on foreign markets Thursday and searched for direction Friday. Consequently, the market became uneasy and generally moved lower. The Dow lost 15.95 on Friday. Further adding to concern late in the week was President Nixon's hospitalization for pneumonia. He is expected to be in the hospital about a week. Program Soon? There had been strong indications the President would remove the price freeze and announce provisions of his promised Phase IV economic program. Many administration officials had said they expected the announcement to come soon. The Dow climbed almost 20 points Wednesday as specula tion grew over the pending an nouncement. Treasury Secretary George Shultz said Friday he did not know how Nixon's illness would affect the Phase IV announcement. He did say he believed it might be possible to end controls by the end of the year, although he would not flatly say this would be done. With these developments, the Dow gained 15.88 to 885.99 for the week. Standard & Poor's 500 stock index was up 2.81 to 104.09. The' NYSE common stock index gained 1.76 to 55.12. Advance stopped declines, 1,412 to 373, among 1,957 issues crossing the tape. Turnover for Week Turnover for the week totaled 73,168,640 shares, compared with 40,857,460 traded during the previous four-day holiday week and with 69,364,980 the year before. Federal National Mortgage was the most active issue, up lYe at 17% on 904,100 shares. Ramada Inns was second, up 2% at 9% on 867,800 shares, and Magnavox third, up 1 at 10 on 754,900 shares. Glamors climbed. Walt Disney rose 9Ys, ARA Services 8%, Schlumberger 7% and Xerox 6Y*. Illinois Harvest Put at 22.1 Million Acres SPRINGFIELD - Illinois farmers expect to harvest 22.1 million acres of field crops in 1973,11 per cent more than was harvested last year, according to the Illinois Corp and Livestock Reporting Service. Large acreage increases in soybeans, corn and wheat more than offset decreases in oats, sorghums and hay acre­ ages. THE CONDITION of most crops on July 1 was generally reported as good, but heavy rains and poor planting conditions in some areas reduced stand and crop conditions. Development of most field crops was generally a little behind normal. Soil moisture as of July 6 was reported as 31 per cent surplus, 63 per cent adequate and six per cent short. Illinois farmers planted 10.1 million acres of corn for all purposes in 1973 and expect to harvest 9.8 million acres for grain — both seven per cent greater than 1972. For white corn, 49,000 acres are intended for harvest, compared with 39,000 acres in 1972. These acres are includ* ed in the total corn acres for grain. PLANTING of the 1973 corn crop progressed slowly up to mid-May because of frequent and abundant rainfall Which caused muddy fields. Planting generally made rapid progress during most of the last half of May and early June, although rains caused occasional delays, particularly in the extreme south. With the slow planting this year, plant growth on July 1 was behind 1972. Illinois farmers planted 9.1 million acres of soybeans for all purposes in 1973, up 21 per cent from last year. They ex­ pect to harvest 9.04 million acres for beans '** also 21 per cent more than in 1972. By July 1, planting was nearly complete in most northern areas and about 90 per cent statewide. Planting was about 80 per cent complete in the south where frequent rains delayed planting. CROP PROGRESS was generally about two weeks behind normal and last year. Stands were somewhat spotty and crop conditions reported mostly fair to good. Wheat production is forecast at 39.7 million bushels, 27 per cent less than the 1972 production. This year's average yield is forecast at 31 bushels per acre, down sharply from the 45 bushels in 1972. Crop conditions and grain test weight are down from 1972 in many areas of Il­ linois. The lower yields more than offset the seven per cent increase in acreage for harvested yields — resulting in the lower expected production. Harvest was about 40 per cent complete by July 1, behind both last year and the average. Oat production in 1973 is forecast at 23.2 million bushels, down 16 per cent from last year. This year's yield is expected to average 58 bushels per acre, compared with 63 bushels in 1972 and 00 bushels in 1971. Oats harvested for grain are expected to total 400,000 acres, nine per cent less than in 1972. The 550,000 planted acres are dOwn sharply from the 1,250,000 acres planted in 1972, when much of the acreage was planted on government set - aside acres. Oat progress on July 1 was about the Shortage of Meat Results In Closing of 16 Plants CHICAGO (UPI) — The American Meat Institute reported Friday that 16 meat producing plants have closed and 20 others have curtailed production due to meat shortages. The institute said the closing and production curtailments have left more than 6,000 persons out of work. The institute reported closures or curtailments in meat plants in 16 states, with Iowa hardest hit with five plants employing 645 persons closed down. An additional 300 persons will be put out of work next week if Jones Dairy Farm of Fort Atkinson, Wis., abides by announced plans to close down Tuesday. Adding to the problem will be 1-day closures scheduled for Monday at Armour Food Co. plants in Mason City and Sioux City, Iowa; St. Paul and Worthington, Minn.; St. Joseph, Mo., and Huron S.D. Record Crop Could Reduce Grain Imports by Russians Commodity Exchange Board Proposes New 'Safeguards' WASHINGTON (UPI) —|lance of market activity for in- Plagued by repeated charges it has been lax in policing trading on the nation's miultibillion- dollar commodity markets, the Commodity Exchange Authority has announced a proposal aimed at erecting new safeguards against price manipulation and other abuses. CEA officials have proposed a new regulation aimed, in essence, at compelling more active self-policing efforts by com modity exchanges. Spokesmen said the new proposal was drafted because "some conitraot markets are maintaining a passive attitude (while) others are failing to diligently seek out violations." Specific Steps The proposed new regulation spells out specifically steps which markets must take in enforcement of their own rules and federal regulations. The seven-part proposal includes steps including "surveil INSIDE fc OUTSIDE SALE 151 ALIENS AVE. Sat. & Sun. Avon Collection, household items, clothing, drapes, girl's bicycle, nic-nacs, toys, misc. BACKYARD SALE 863 LINCOLN Sun,, July 15 3 P.M. to 8 P.M. Cancelled in Case of Rain HALLWAY SALE Sat. 4 p.m. to 8 p.m. Sun. 1 p.m. to 4 p.m. Lots of name brand late style clothes, misc. 140 BLAINE AVE. dioation of possible congestion or other market situations conducive to possible price distortion," along with closer monitoring of traders' records and prompt disciplinary action when rules are violated. ' The proposal came on the heels of votes in both the House and Senate to increase the CEA budget in order to step up market policing by the federal agency itself. A report by the House Appropriations Committee had been critical of commodity markets as well, saying that they should be taking a more active part in guarding against trading abuses and market manipulations Announces Complaint Perhaps coincidentally, the CEA announced on June 25 it had filed an administrative complaint charging the Chicago Board of Trade with failing to enforce its own minimum fi nancial standing regulations in a case involving Rice Commodities, Inc. Harmon Disabled BLOOMINGTON, Minn, (UPI) )-Harmon Killebrew of the Minnesota Twins was placed on the 15-day disabled list Friday because of an ailing left knee. Righthanded pitcher Bill Campbell, 10-5 and ERA of 3.65, is being called up from the Tacoma farm club to replace Killebrew on the roster. DRIVEWAY SALE SUNDAY, July 15—8:30-3:30 1319 S. Chambers St. Conversion burner, weight lift-, ing set, men's size 11 baseball shoes, stereo tape player, children's clothing and misc. BACKYARD SALES Garage, Patio, Driveway, Basement, Front Room, Private Household Sales and all other sales of this type must be in our office by noon the day before ad is to be published. GALESBURG REGISTER-MAIL DISPLAY ADV. — Phone 343-7181 WASHINGTON (UPI) - The Agricultural Department announced Friday that Russia may harvest a record grain crop this year and Soviet grain imports may drop below ear lier estimates. But officials refused to say how far they think the import reduction may go. The department said that in light of reports of good weather and crop conditions, prospects as of July 1 indicate the 1973 Soviet grain harvest could total a record 195 million tons, up 16 per cent from last year's poor harvest. Not Precise But on import prospects, officials would not be precise. Our information is conflicting. It would not (be a service to give a specific figure," an official of the Foreign Agricultural Service said after release of the statement which predict- Consumers May Pay Cost Hikes Under Phase IV WAUKEGAN, 111. (UPI)-Senate Minority Leader Hugh Scott predicts farmers and producers will be able to pass on costs to consumers in President Nixon's Phase IV economic program. Speaking at a Republican diner Friday, Scott said, "Phase IV will be more like Phase II than Phase HI. "There will be a period of strict mandatory control. There will be what we call a pass- .tiirough which will permit the farmer, the producer of raw imateraials and of food at the source an opportunity to pass on the cost to consumers." Scott said he did not believe the President's hospitalization would delay action on Phase IV. He said he believed the President's move would be dramatic, restore the economy land stabilize the dollar. SIU Students Emergency Aid To Cost $99,000 CARBONDALE, 111. (UPI) Doctors Hospital here will provide after - hours emergency treatment for Southern Illinois) University students for $99,000 under an agreement approved by the SIU Board of Trustees Friday. Under tne agreement, students could receive emergency treatment at Doctors Hospital, Carbondale's largest hospital, between 6 p.m. and 8 a.m. on weekdays and during weekend's afternoon. ed that Soviet 1973-74 grain imports from all sources will be down "somewhat" from a previous FAS estimate of 15 million tons. Another expert, however, said privately he believed the decline would be "slight." Whatever tlhe final figure, it will be down sharply from Russia's grain import for the 197273 season. In that season, following the poor 1972 crop, Russia imported nearly 30 million tons of grain from all sources, including about 19 million tons from the United States. Orders to Date The Agriculture -Department earlier this week reported that Soviet orders for U.S. wheat and corn for 1973-74 delivery so far totaled 7.845 million tons. Officials confirmed again Friday that these shipments will come primarily from the U.S. 1973 crcps. FOR SALE STATION WAGON 1971 Plymouth Loaded, Lika New fc Cheap Phone 342-0330 HOUSEHOLD AUCTION Sat. Morning July 21 - 10 A.M. 1563 W. WATERS ST. Lots of £ood household articles and appliances. Complete Listing to Follow Dr. & Mrs. Lester Ernstein Owners Auctioneer!: Dale Coffey at Ralph Coffey 343-8365 Carting To CloseGeorgia Brewery ATLANTA (UPI)-The Carting Brewing Co. has announced it will close its Atlanta plant and serve the South hereafter from facilities in Baltimore and Belleville, 111. "The Atlanta brewery will close on or before Sept. 15 and the phasing out of operations will commence immediately," the company said. Closing of the Atlanta facility, built over the objections of re ligious groups in the late 1950s Federal Agents Are Suspended CHICAGO (UPI) - Two federal narcotics agents received 30-day suspensions with out pay for pulling a gun on a truck driver they thought had broken a traffic law, a government spokesman said Friday. i John G. Evans, regional director of the Bureau of Drugs, said he suspended the agents, unidentified because of their undercover work, for violating "local bureau policy" by displaying their badges and using a gun to stop an alleged traffic violator. He said the two men were en route to an assignment Wednesday when two trucks on the Illinois Northwest Tollway blocked traffic by driving side by side for several miles. FOR SALE PICK UP CAMPER 8 ft. fibreglass cab-over, fully equipped, excellent condition. S600.00 1425 E. Losey GOLD •• Buying « SILVER X.F. or better by type $20—Gold pieces $160.00 $10-^Gold pieces 1 $ 72.00 $ 5—Gold pieces $ 50.00 $ 3—Gold pieces $150.00 $2'/ 2 —Gold pieces $ 45.00 $ 1—Gold pieces $ 75.00 Buying pre '15 Silver- paying 75% over face. PH. 342-3329 Before 9:30 or After 5 MRS. LANE Palm Reader and Advisor 189 K HENDERSON ST. (Next to Seaitedt Realty) 9 a.m. to 9 p.m. If you have any problems MRS. LANE can help you! All readings confidential. For appointment* Call 342-6639 Watch for lign was decided upon because of its relatively small size. "Due to rapidly rising costs and fierce price competition," E. Norris Davis, the company president, said, "it is no longer possible to remain competitive in the brewing industry without achieving the economics that come through larger capacity in location." FOR SALE by OWNER CAPE COD HOME Heated garage, concrete drive, family room, 2% bath, central air, 3 large bedrooms. 1299 BRIDGE AVE. Shown Bv Appt. Only PHONE 343-10*4 Don't Dig Up Your Sewer No Charge If We Fail Call 343-6913 — or Phone 342-6430 GUARANTEED WORK QUALITY PRECAST CONCRETE Manufactured In Galesburg Modern Concrete Benches Canadian Made Urns and Pots Available on Special Order Call for Garden Designing. Make an Appointment Today. same as a year earlier but a little behind normal. Illinois fanners planted 80,000 acres of sorghums in 1973 and expect to harvest 60,000 acres for grain, down from 100.000 and 78,000 acres respectively, in 1972. Farmers expect to harvest 1.14 million acres of hay in 197.1 slightly less man the 1.15 million acres last year. Alfalfa hay acreage is expected to be down slightly and all other hay acreage up slightly from last year. FOR SALE By Owner 1966 Ford 4-Dr. Ideal for 33,000 actual miles. 1st or 2nd car. $395 — 343.8645 J-J Ptintinfj Cofiwaefofs free Estimates Reference Phone 3426036 FOR SALE 1972 ItAZIR Excellent Condition. 11,000 ml. Fully lTi2854 FOR SALE 7 ROOM HOME 3 ifi 4 bedrooms or 2 aptS., modern kitchen, fllning room, living room, 2 modern baths all well decorated, alum, storm sajshes and siding, 2 enclosed porches, nice lot. Located Southeast, close to schools. ^ AVAILABLE SEPT. 1 PRICED UPPER TEENS Write Box 925 % Galtiburg Reslilcr-Mail READ THE WANT ADS! IDEAL HOUSING FOR 2 or 3 Near Western University Macomb. Large Deluxe Mobile Home. Best location. Cost $9,000.00 2 years ago. Move in for under $6,000.00. Owner moved to.Urbana. May finance up to one-half. Contact: ATHOL ODELL, Jeweler Hill Arcade — 342-2217 or 342*2644 Consignment Auction Sunady, July 15, - 1 p.m. BLEDSOE'S AUCTION HOUSE 560 SO. CHAMBERS SOME ANTIQUES Hand palni.d plates, pressed glass, and other Antiques dishes, 43" Round oak padMtal table with solid top and two extra l.av.s (perfect condition), 6 old straight back kitchen chairs that match, ornate with cane bottoms, Carem board, 3 oak rockers, White milk glass, Rayo kerosene lamp, 2 sewing machines, 1 old radio, 2 copper boilers, 2 old lanterns, several old jugs and jars, lots of old Bottles of all types and sizes, also Whiskey decanters, set of practical Railroading books, several odd ornate kitchen chairs, insulators, 2 piece mohair liv. rm. suite (small). HOUSEHOLD ARTICLES Rose Hidabed, Humidifier not very old, occ. table, buffet, lawn furniture, metal typewriter table, several stone jars, picnic table, several tires, 2-wheel hand cart, 1 peUet gun, 31" Whit. *y. lav.l K.nmor. gaa rang., 4-pc. blond bedroom suite complete, tape recorder, Hotpoint refrigerator, copying machine, 2 matching walnut twin beds complete, 3-pc. walnut bedroom suite complete, set of papering tools, tools, and lots more misc. merchandise too numerous to mention. COFFEY BROS,, Auctlont.ri — Phono 343-8365 ROBT. STEWART—Clark GALESBURG CONCRETE MATERIAL CO. 1050 Monmouth Blvd. Ph. 343-3181 Galesburg Livestock Sales Inc. East Fremont Road — 342-1416 Bonded For Your Protection Sale Every Tuesday TUESDAY, JULY 17, 1973 25 Mixed cows, some with calves. 30 Angus heifers, 400 lbs. 40 Angus steers and heifers, 450 lbs. 50 W/faced heifers, 475 lbs. 35 Charolais heifers, 500 lbs. 30 Angus steers, 650 lbs. 40 Mixed steers, 800 lbs. 150 Mixed cattle to be sold in small lots. 300 Mixed pigs, 40-90 lbs. Western Cattle On Hand:— 300 Angus and Hereford steers, avg. 625-725 lbs. Last Tuesday our Fat Sale was: 50c-|1.00 higher — with Steer top at $49.00, Heifer top $47.40, Butcher cows $32$37., Bulls $39.-$43. MORE CATTLE & HOGS BY SALE TIME Feeder Cattle ior Private Sale Daily Up Until Sale Time REPRESENTATIVES: John Walters Martin M. Swanson Richard Anderson William Reynolds Robert Lindsey, Tom Kilcoin and Carl Steck — Auctioneers FOR RENT Choice Office Space Hill Arcade Building Phone 342-4139 READ THE WANT ADS! July Clearance Sale STARTING MONDAY, JULY 16th Vi off on all Summer Wearing Apparel MITCHELLS' Rt. 34 — Oneida, III. 9 A.M. - 5:30 P.M. MONDAY - SATURDAY FREE PARKING LOT HEY! - LOOK AT THIS DEAL! Compact Tractors New and Used Buy A Case Garden Tractor (Any Size) in JULY of and well GIVE YOU a $20.00 SET SOCKET WRENCHES! ABSOLUTELY FREE! PLUS YOU'LL BE THE ENVY OF YOUR NEIGHBORS, WHEN YOU SELECT YOUR WORKING TOOLS • Tillers, Cultivators, Lawn Sweeper, Front Loaders Rollers, Etc. Come See Us The Price Is Right in July Also, Used Riding Mowers from $65 and up CASE POWER & EQUIPMENT Rt. 34 East 343-6112 Open Weekdays 7:30-5:30; Sat. 7:30-12:00 And for the Thrifty farmer, Used Tractors, and Cultivators, Front and Rear Mounted. Priced to Sell From the Rig Tractor People.

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