News stories from Friday September 12, 1975

Summaries of the stories the major media outlets considered to be of particular importance on this date:

The police in St. Louis said that they had chased and failed to capture a man believed to have been carrying a .45 caliber pistol near the Kiel Auditorium shortly before President Ford arrived there to deliver a speech to a church group. The police also said that they had received two telephoned threats that a bomb would explode in the auditorium, but the threats apparently were a hoax. Mr. Ford made public a statement that said his encounters with crowds were "an important part of my job," and would not allow the government of the people to he held hostage at the point of a gun. [New York Times] President Ford ordered the House Select Committee on Intelligence cut off from all classified documents and forbade administration officials to testify before the committee on classified matters. His order followed the committee's decision on Thursday to publish four words from a 1973 intelligence agency quotation over the objection of intelligence officials. [New York Times] The First National City Bank of New York, reacting to the sustained upward trend in interest rates in the credit markets, raised its prime lending rate from 7¾ percent to 8 percent, the highest it has been since early March. Banks in other cities announced similar increases, and it appeared that the rate increase would be nationwide in a week or two. [New York Times] The Libyan leadership under Col. Muammar Qaddafi has sent "tens of millions of dollars" to Lebanon in the last six months to support leftist Moslem groups fighting Christian forces there, according to United States officials. The officials said they had "hard evidence" that Libyan agents had acquired control of three Beirut newspapers and in addition were giving substantial sums of money to Lebanese politicians and were more generous to them than to Palestinian guerrilla groups. Colonel Qaddafi's motives are not entirely clear to American analysts, but they are aware that he has publicly expressed dislike for the dominant Christian elements in Lebanon. [New York Times] Carl Kalin, 73-year-old former Yonkers man, is in Rome with his wife to attend the canonization rites tomorrow for Mother Elizabeth Ann Bayley Seton, who will be the first native-born American to be declared a saint. Mr. Kalin attributed his recovery from a brain disease 12 years ago to the intercession of Mother Seton. It was this recovery that was accepted by the Vatican as the final miracle required for the canonization of Mother Seton, who was born in New York in 1774. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 809.29 (-3.37, -0.41%)
S&P Composite: 83.30 (-0.15, -0.18%)
Arms Index: 1.32

	Issues	Volume*
Advances	590	3.96
Declines	674	5.96
Unchanged	483	2.31
Total Volume		12.23

* in millions of shares

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*
September 11, 1975	812.66	83.45	11.10
September 10, 1975	817.66	83.79	14.78
September 9, 1975	827.75	84.60	15.79
September 8, 1975	840.11	85.89	11.50
September 5, 1975	835.97	85.62	11.68
September 4, 1975	838.31	86.20	12.81
September 3, 1975	832.29	86.03	12.26
September 2, 1975	823.59	85.48	11.46
August 29, 1975	835.34	86.88	15.48
August 28, 1975	829.47	86.40	14.53