News stories from Monday January 18, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Control of major federal programs would be given to state and local governments under a plan accepted in principle by President Reagan, according to administration officials and congressional sources. The President will also move, they said, to increase federal excise taxes on gasoline, liquor and cigarettes and give some of the revenue to the states to help meet the cost of operating the programs. [New York Times]
- President Reagan further modified his position on federal tax exemptions for racially segregated private schools. He said that the Internal Revenue Service would withhold exemptions from such institutions, pending congresssional action on a measure to prohibit the exemptions. [New York Times]
- Four Air Force jets crashed in the Nevada desert and exploded in flames, killing the four pilots. The four, members of the service's Thunderbirds precision-flying team, were practicing a "loop and tail" maneuver when they lost control and crashed nose first in rapid succession. [New York Times]
- The two "black box" recorders, viewed as the most valuable tools for air-crash inquiries, were missing when salvage crews recovered the tail section of the Boeing 737 that crashed in the Potomac Wednesday. Officials hope that the devices will be found on the river bottom. [New York Times]
- Mixed views on the economic plan of the Reagan administration were reflected in the latest New York Times/ CBS News Poll. Fifty-one percent of the respondents believe that the program has hurt the economy so far, but 60 percent think that the program will eventually help the country, and most are ready to wait at least a year before deciding whether the program is a success or a failure. [New York Times]
- The Interior Secretary was rebuffed by a federal judge in Salt Lake City. He denied a request by the Secretary, James Watt, for authority to review a Carter administration decision that prohibited strip mining of coal near Bryce Canyon National Park in southern Utah. [New York Times]
- A Sioux tribe was rebuffed in its decades-long legal effort to regain ownership of the Black Hills of South Dakota. Without comment, the Supreme Court refused to hear an appeal from a lower court ruling that limited the Indians to cash compensation rather than the land. The tribe will shift its efforts to the United Nations. [New York Times]
- A suspended Massachusetts official was accused of receiving $60,000 in illegal kickbacks at the opening of a trial that could affect the re-election campaign of Gov. Edward King. The suspended official, Barry Locke, had been the state's Transportation Secretary, head of Boston's Mass Transit Authority and one of the most influential members of Governor King's administration. [New York Times]
- Research on "Legionnaire's disease" has led to major and still-unfolding findings about this previously un-known cause of human illness. Just five years ago, two scientists announced they had found the cause of the Philadelphia outbreak -- a type of bacteria never before identified, now known formally as Legionella pneumophila. [New York Times]
- An earthquake shook wide sections ol the Northeast. The temblor, centered in New Hampshire, toppled utility poles, shook houses and rattled windows and dishes, but no injuries or major damage was reported. [New York Times]
- A U.S. military attache was slain outside his home in Paris by a solitary gunman who escaped. The murder of Col. Charles Ray came two months after the attempted shooting of Christian Chapman, charge d'affaires at the American Embassy. The police called the two attacks very similar. [New York Times]
- Thousands of Indians were arrested in advance of a one-day national strike called for tomorrow to protest the economic policies of Prime Minister Indira Gandhi. Most of those seized are union activists. [Al :1.] ? The first leftist President in Finland is expected to take office soon. Prime Minister Mauna Koivisto, a Social Democrat, won a stunning victory in the first round of balloting, all but as-suring him of victory in the electoral college a week from now. [ [New York Times]
- The first leftist President in Finland is expected to take office soon. Prime Minister Mauna Koivisto, a Social Democrat, won a stunning victory in the first round of balloting, all but assuring him of victory in the electoral college a week from now. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 855.12 (+7.52, +0.89%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| January 15, 1982 | 847.60 | 116.33 | 43.31 |
| January 14, 1982 | 842.28 | 115.54 | 42.94 |
| January 13, 1982 | 838.95 | 114.88 | 49.13 |
| January 12, 1982 | 847.70 | 116.30 | 49.80 |
| January 11, 1982 | 850.46 | 116.78 | 51.90 |
| January 8, 1982 | 866.53 | 119.55 | 42.04 |
| January 7, 1982 | 861.78 | 118.93 | 43.42 |
| January 6, 1982 | 861.02 | 119.18 | 51.50 |
| January 5, 1982 | 865.30 | 120.05 | 47.50 |
| January 4, 1982 | 882.52 | 122.74 | 36.75 |