News stories from Wednesday October 17, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The 1979 Nobel Peace laureate is Mother Teresa of Calcutta, a Roman Catholic nun of Albanian stock who has cared for the poor and sick in India for more than 30 years. The 69-year-old nun said that she would use the $190,000 awarded to her to build more homes for the destitute, "especially for the lepers." [New York Times]
- Strict limits on campaign contributions to House races by special interest groups were approved by the House in a vote of 217 to 198. The backers responded to a rising fear that these groups were spending vast amounts of money to influence the legislative process. The bill now goes to the Senate, where its future is in doubt. [New York Times]
- Lower living standards must be set by Americans to reduce inflation, Paul Volcker, chairman of the Federal Reserve Board, maintained. In congressional testimony, he held that Americans would have to accept less because of the drain of American wealth to the oil exporting nations. [New York Times]
- Clean air standards for Ohio, imposed by the federal government, must be complied with by Friday's deadline, according to environmental officials. However, they said that, to save jobs, temporary exemptions would be granted to some polluters. Ohio, the only state without a plan for complying with the Clean Air Act, is a major source of air pollutants that fall as "acid rain" on New York, other Northeast states and Canada. [New York Times]
- Ronald Reagan will announce his entry into the presidential race Nov. 13 at a fundraising dinner in New York City to show that he has strength in the Northeast, aides to the California Republican said. Announcements of presidential candidacies are usually made in Washington or in home states. [New York Times]
- The Pirates won the 76th World Series, defeating the Baltimore Orioles, 4-1, in the seventh game of baseball's championship. The triumph by Pittsburgh capped a rousing comeback from a deficit of three games to one, something that had occurred only three previous times in the history of the Series, once by the 1925 Pirates. President Carter watched from a first-row box seat in Baltimore. [New York Times]
- Michele Sindona was questioned by federal agents and New York City detectives about his two-and-a-half-month disappearance, but they said they could not yet determine whether he had been kidnapped or had dropped out of sight on his own. A judge ordered federal marshals to intensify their watch over the Italian financier, who faces trial on fraud charges. [New York Times]
- New Jersey has new air pollution rules adopted under pressure by Washington. The regulations include ones designed to reduce pollution from asbestos and 11 specific toxic chemicals suspected of causing cancer. [New York Times]
- A rebuff on policy toward Taiwan was suffered by the Carter administration. A federal judge ruled that President Carter's decision to end the mutual defense treaty was unconstitutional without the consent of Congress. If the ruling is upheld, it could jeopardize Washington's ties with Peking. [New York Times]
- South Korea imposed martial law in the port city of Pusan after widespread anti-government demonstrations by thousands of students and other citizens. The protests led to the arrest of 200 people and injuries to about 50 policemen and several students, according to an official, who said that no one was killed. [New York Times]
- A crisis in NATO was threatened over the planned deployment in Western Europe of new American intermediate-range missiles. West German officials have told Dutch Socialist Party leaders that if the Netherlands refused to accept such arms, West Germany would not deploy them. [New York Times]
- The first public U.S. rebuke of China over human rights since relations were normalized was leveled by the State Department. It expressed concern over the severity of punishment imposed Tuesday on a Chinese dissident. He was sentenced to 15 years in jail on conviction of giving military secrets to a foreigner and engaging in counterrevolutionary activities. [New York Times]
- Moderate Salvadoran groups were asked by the new ruling military junta to join a transition government to prepare for free elections, but the extreme left pressed for a rebellion and at least nine youths were killed in clashes with the army. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 830.72 (+1.20, +0.14%)
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 16, 1979 | 829.52 | 103.19 | 33.76 |
| October 15, 1979 | 831.06 | 103.36 | 34.85 |
| October 12, 1979 | 838.99 | 104.49 | 36.39 |
| October 11, 1979 | 844.62 | 105.05 | 47.55 |
| October 10, 1979 | 849.32 | 105.30 | 81.62 |
| October 9, 1979 | 857.59 | 106.63 | 55.57 |
| October 8, 1979 | 884.04 | 109.88 | 32.61 |
| October 5, 1979 | 897.61 | 111.27 | 48.25 |
| October 4, 1979 | 890.10 | 110.17 | 38.80 |
| October 3, 1979 | 885.15 | 109.59 | 36.47 |