News stories from Tuesday September 30, 1975

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

President Ford said in Chicago that he would continue traveling across the country, not in a foolhardy spirit but by every prudent and practical means. Before leaving Washington he had asked Congress for $13.5 million more this year for Secret Service protection. It would cover additional agents and also additional travel costs for those guarding Democratic presidential candidates beginning today. [New York Times] Secret Service officials told Congress that on the morning of Sara Jane Moore's alleged attempt to shoot President Ford she tried five times to telephone the agents protecting him. An 8 A.M. call to the Secret Service reached only an answering service. She tried twice later that morning and also called the Federal Bureau of Investigation and the San Francisco Police Department. But the agents who had questioned her the night before had not even been told she was trying to reach them until after the shooting incident about 3:30 P.M. [New York Times] The banking community showed a growing unwillingness to buy the $500 million in short-term notes that New York State is due to issue as a crucial element in averting New York City's fiscal default. Governor Carey failed to persuade State Controller Arthur Levitt to make voluntarily the $125 million investment from pension funds in Municipal Assistance Corporation bonds that was barred by the State Court of Appeals as a mandatory measure. Market prices of New York State-related bonds dropped again in reaction. [New York Times] The United States Attorney for New Jersey and the Internal Revenue Service are embroiled in a dispute over each other's handling of an allegation that Gerald Ford may have received an unusual payment around 1968 from leaders of the National Maritime Union. Neither agency is believed to have any evidence at this stage that the alleged transaction involving President Ford as a congressman did occur. [New York Times] The Central Intelligence Agency gave the House Select Committee on Intelligence the bulk of the national security documents it had subpoenaed. Committee sources said the move appeared to resolve its two-week stalemate with President Ford. [New York Times] While Henry Kearns headed the government's Export-Import Bank in 1972 he promoted the apparently highly profitable sale of stock he had placed in a blind trust and received some of the proceeds. This was disclosed in a letter from the Assistant Attorney General heading the Criminal Division to Senator William Proxmire, who published it. The letter found insufficient evidence to support criminal charges, but Mr. Proxmire said this "outrageous" decision should be overturned. [New York Times] Premier Carlos Arias Navarro of Spain angrily denounced international protests over the execution of five terrorists and called on the Spanish people to unite behind Generalissimo Francisco Franco and the government. He termed the foreign protests "an intolerable aggression against Spanish sovereignty." In the rebellious Basque provinces, the second day of a general strike protesting the executions had even bigger participation than Monday, when more than 100,000 responded. [New York Times] The United States has decided to let 1,600 Vietnamese now on Guam to go back to their homeland as they have requested, Despite the new Saigon government's apparent reluctance to accept them, it was assumed that they would not be turned back. About 100 other refugees now in the United States are due to be flown to Guam to join those now there in sailing home. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 793.88 (-11.35, -1.41%)
S&P Composite: 83.87 (-1.16, -1.36%)
Arms Index: 1.91

	Issues	Volume*
Advances	256	1.19
Declines	1,083	9.64
Unchanged	445	1.69
Total Volume		12.52

* 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 29, 1975	805.23	85.03	10.58
September 26, 1975	818.60	86.19	12.57
September 25, 1975	820.24	85.64	12.89
September 24, 1975	826.19	85.74	16.06
September 23, 1975	819.85	84.94	12.80
September 22, 1975	820.40	85.07	14.75
September 19, 1975	829.79	85.88	20.83
September 18, 1975	814.61	84.06	14.30
September 17, 1975	799.05	82.37	12.19
September 16, 1975	795.13	82.09	13.09