News stories from Tuesday November 28, 1978
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- More than 200 letters to "Dad" were found amid the rubble of the Rev. Jim Jones's cabin in Jonestown, Guyana. The "self analyses" were apparently written in mid-July in response to loudspeaker demands by him. They show the obsessional, aberrational and, in some cases, tormented thinking of the cultists, their feelings of inferiority and guilt and the degree to which they depended on, feared and revered the cult leader. [New York Times]
- The Consumer Price Index rose eight-tenths of 1 percent in October with the cost of basic needs such as food, shelter and medical care accelerating most sharply, the government reported. The price increases add up to a compound annual rate of 10 percent. The Consumer Price Index passed the 200 mark, showing that the dollar today buys only half what it did in 1967, when the index stood at 100. [New York Times]
- San Franciscans mourned the deaths of George Moscone and Harvey Milk, the Mayor and County Supervisor who were murdered Monday in City Hall. The widespread outpouring of grief followed spontaneous expressions of sorrow that began with city residents placing flowers on City Hall steps and lighting votive candles there. [New York Times]
- Advertising by doctors would be allowed under a decision by an administrative law judge in a suit filed by the Federal Trade Commission. The judge's directives, ordering the American Medical Association to end its ban on advertising by physicians, will be made public tomorrow and may eventually affect the setting of doctors' fees across the country. [New York Times]
- Support for a strategic arms treaty with Moscow would increase among Republicans if President Carter backed the B-1 bomber, the MX missile and Navy ship construction, Senator Howard Baker Jr. said. The minority leader spoke at the Republican Governors' annual meeting. [New York Times]
- Investigating future assassinations and protecting and analyzing evidence about them are the object of contingency plans now being formulated by federal agencies, according to Washington sources. [New York Times]
- Nancy Landon Kassebaum plans to go to Washington next month to become the junior Republican Senator from Kansas and get a foot up on the seniority ladder by an early appointment. The political novice, who is the daughter of Alf Landon, will be the only woman Senator. She has taken major independent positions. [New York Times]
- Pennsylvania Republicans won back control of the state House of Representatives because of a vote recount in a rural western district. [New York Times]
- Pressing apartheid, South Africa has vowed to demolish 3,000 houses in a thriving 140-acre squatter settlement near Cape Town's airport, ousting more than 20,000 blacks. The Crossroads settlement has become a symbol of resistance to a system that thrives on cheap black labor and, over 30 years, has evicted more than two million people and resettled them in remote tribal regions. [New York Times]
- Rumania's refusal to join six other Warsaw Pact countries in raising military spending was viewed by United States officials as possibly the beginning of a crisis in the Soviet bloc. However, the officials observed that Rumania had emerged virtually unscathed from controversies with its allies since it set an independent foreign policy 15 years ago. [New York Times]
- Vietnamese troops in Cambodia are advancing more deeply than ever. Troops have greatly enlarged the occupied area, sources reported, and some analysts view the drives as the opening of a major offensive. [New York Times]
- A Cyprus peace plan has been proposed by the United States. The 12-point proposal for negotiations includes the creation of a federal government with separate Greek and Turkish regions and the return to Greek Cypriots of significant territory seized by Turkish forces in 1974. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 804.14 (-9.70, -1.19%)
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* |
| November 27, 1978 | 813.84 | 95.99 | 19.79 |
| November 24, 1978 | 810.12 | 95.79 | 14.59 |
| November 22, 1978 | 807.00 | 95.48 | 20.01 |
| November 21, 1978 | 804.05 | 95.01 | 20.76 |
| November 20, 1978 | 805.61 | 95.25 | 24.44 |
| November 17, 1978 | 797.73 | 94.42 | 25.17 |
| November 16, 1978 | 794.18 | 93.71 | 21.34 |
| November 15, 1978 | 785.60 | 92.71 | 26.28 |
| November 14, 1978 | 785.26 | 92.49 | 30.62 |
| November 13, 1978 | 792.01 | 93.13 | 20.96 |