News stories from Wednesday October 15, 1980

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

Iran sought to ease its isolation and an-nounced that Prime Minister Mohammed Rajai would fly to New York tomorrow to plead his country's case against Iraq before the United Nations Security Council. The announcement ended Iran's boycott of the Council's peace efforts.Iran's decision to send a high official to present its case to the Security Council surprised the Carter administration and spurred speculation that Teheran might be willing to discuss the hostage crisis. A White House official said that Iran would have trouble in accusing Iraq of violating international law "without having to explain why Iran had ignored the Council's resolutions" on the American captives. [New York Times] Iraq tightened its siege of Abadan. Iran conceded that the defenders of the battered oil-refinery city were increasingly hard pressed, but vowed that it would not be surrendered without hand-to-hand battles. [New York Times] Ohio is now a major battleground in the presidential campaign. President Carter, whose 11,116-vote margin in 1976 amounted to less than one vote per precinct, is profiting from criticism of Ronald Reagan in Democratic television commercials and in major mailings from what may be the most efficient A.F.L.-C.I.O. political operation in the nation. A New York Times/CBS News Poll shows Mr. Reagan with 36 percent of Ohio's probable electorate, the President with 34 percent and John Anderson, the independent, with 7 percent. [New York Times] A close election in the South is predicted by politicians and political analysts. They say that some very large cracks have developed in President Carter's base in the region that could result in a victory for Ronald Reagan in a close contest. The Reagan candidacy has revived the old ideological right, and newly politicized evangelical Christians are castigating Mr. Carter's record as less oriented toward God and family than is Mr. Reagan. [New York Times] Edward Kennedy campaigned with the President in Massachusetts and New Jersey as Mr. Carter heaped scorn on Ronald Reagan's pledge to appoint a woman to the Supreme Court. Mr. Carter, also campaigning in Pennsylvania, urged voters not to let the candidacy of John Anderson siphon off votes and elect Mr. Reagan. [New York Times] Ronald Reagan deplored the economy as "dismal," drawing cheers in a speech before about 1,200 people in Flint, Mich. He termed the administration responsible for bringing to the auto-making city a jobless rate of 20.7 percent, calling it the highest rate of any city in the nation. [New York Times] Andrew Young assailed Mr. Reagan for allegedly using a racial code phrase. The Carter camp dissociated itself from the remarks made by the former representative at the United Nations, who was campaigning for the President. Mr. Young said that Mr. Reagan's advocacy of "state's rights" in a speech in Mississippi last summer "looks like a code word to me that it's going to be all right to kill niggers when he's President." [New York Times] John Anderson was publicly undaunted despite increasing political headwinds. His lawyers announced that his plan to borrow millions of dollars from a consortium of banks had collapsed, but he vowed to press his independent campaign up to Election Day. [New York Times] A congressional upset in Maryland seems likely. In fewer than two weeks, Roy Dyson, a young state legislator who had been challenging Representative Robert Bauman, a rising Republican leader, has begun to look like a winner. Mr. Dyson has won national publicity and a rush of campaign donations since Mr. Bauman acknowledged his alcoholism and "homosexual tendencies." [New York Times] Fears for black children in Atlanta prompted Mayor Maynard Jackson to order the police force to begin a door-to-door search for clues in the deaths and disappearance of 14 of the children in the last 15 months. [New York Times] Britain's Labor Party leader resigned, touching off a divisive struggle to choose a successor. James Callaghan, a former Prime Minister, said it was time for him to step down at the age of 68. The Labor Party presently has no agreed procedure for selecting a new leader. [New York Times] Moscow faces new Afghan resistance, according to reports by Western diplomats in Kabul. They said that Soviet tanks had sealed off an Afghan Army garrison there after clashes between Afghan and Soviet troops. [New York Times] Egypt and Israel have made progress toward reaching an accord on Palestinian self-rule in the occupied West Bank and Gaza, according to Washington's Middle East negotiator. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 972.44 (+10.24, +1.06%)
S&P Composite: 133.70 (+1.68, +1.27%)
Arms Index: 0.55

	Issues	Volume*
Advances	949	32.17
Declines	587	11.03
Unchanged	392	5.06
Total Volume		48.26

* 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*
October 14, 1980	962.20	132.02	48.79
October 13, 1980	959.90	132.03	31.41
October 10, 1980	950.68	130.29	44.03
October 9, 1980	958.96	131.04	43.98
October 8, 1980	963.99	131.65	46.58
October 7, 1980	960.67	131.00	50.31
October 6, 1980	965.70	131.73	50.12
October 3, 1980	950.68	129.33	47.50
October 2, 1980	942.24	128.09	46.16
October 1, 1980	939.42	127.13	48.71