News stories from Wednesday August 11, 1976

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

The Mississippi delegation to the Republican National Convention was said to be ready to abandon its unit rule -- a decision that could severely damage Ronald Reagan's chances of catching President Ford in the race for the nomination. Senator James Buckley's statement that he might enter the contest in some circumstances appeared to be prompted by some who seek to divert enough delegates to prevent a first-ballot victory for Mr. Ford. The President's backers said they saw no real chance of this. [New York Times] Jimmy Carter, the Democratic presidential nominee, told the American Bar Association convention in Atlanta that, if elected, he would restore public faith in government by eradicating crime and corruption in high places. Recounting the moral impact of the Watergate scandals, he questioned the efficacy of subsequent reforms and whether Mr. Ford had re-established public trust. [New York Times] The director of the national influenza immunization program announced in Washington that the target time for beginning inoculations was late September, more than two months behind the original schedule. More than a million inoculations daily will be required in anticipation of a normal flu season running roughly from November to March, peaking probably in January or early February. He said it can be done. [New York Times] A major internal reorganization of the Federal Bureau of Investigation was announced by its director, Clarence Kelley. Investigation of domestic radical and terrorist organizations will be transferred from the intelligence division and treated like other criminal cases. The previously independent inspection division will be merged with the Office of Planning and Management. A new professional responsibility section will be formed to investigate future allegations of F.B.I. wrongdoing. [New York Times] A grenade explosion among passengers at Istanbul's airport preparing to board an Israeli jetliner for Tel Aviv killed four persons and wounded 10 to 15, the Turkish radio said. The Turkish police shot it out with terrorists apparently trying to attack the aircraft. The semi-official Anatolia news agency said two were captured and identified themselves as Palestinians. The plane was undamaged and flew on to Israel, where a passenger told reporters the terrorists were in line with other passengers at the baggage check station when one of their suitcases blew up. [New York Times] The Christians and Moslems of Lebanon have begun in effect to partition the country by setting up state administrations in their respective territories. Although leaders on both sides still declare they want a single Lebanon, the latest attacks by the Christian forces have sought to eliminate two Moslem positions separating Christian-held territory in Beirut's eastern suburbs from Christian-held areas to the east and north. [New York Times] At least 15 blacks were killed and 50 injured in racial disturbances that erupted in the black townships around Cape Town in South Africa. Police said that blacks burned buildings, looted liquor stores and attacked cars. Heavily armed riot police units moved in. It was the first serious outbreak in the southern part of the country, which had been free of the trouble that has affected the Johannesburg and Pretoria area. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 986.79 (-6.64, -0.67%)
S&P Composite: 104.06 (-0.35, -0.34%)
Arms Index: 1.10

	Issues	Volume*
Advances	668	7.10
Declines	698	8.14
Unchanged	515	3.47
Total Volume		18.71

* 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*
August 10, 1976	993.43	104.41	16.69
August 9, 1976	983.46	103.49	11.70
August 6, 1976	986.00	103.79	13.93
August 5, 1976	986.68	103.85	15.53
August 4, 1976	992.28	104.43	20.65
August 3, 1976	990.33	104.14	18.50
August 2, 1976	982.26	103.19	13.87
July 30, 1976	984.64	103.44	14.83
July 29, 1976	979.29	102.93	13.33
July 28, 1976	981.33	103.05	16.00