Okay, Charley, it's your turn to be told: Shame! :^)

The cereal that was "shot from guns" was Quaker Puffed Wheat and Quaker Puffed Rice.

Quaker Oats was – and is – the dry oatmeal in the cylindrical cardboard container that you have to heat in water or milk.

I couldn't tell you which was the sponsor of the radio program, however. I'm afraid that that was all before my time. Frankly, I think I missed out on a wondrous era.