News stories from Thursday January 31, 1980

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

Queen Juliana will abdicate as sovereign of the Netherlands on April 30, her 71st birthday, in favor of her daughter, Princess Beatrix. The Queen announced over television on Princess Beatrix's 42d birthday that she would end her 31-year reign. Her age, the Queen said, was the principal reason why she was stepping down.Dutch Catholic bishops affirmed at the Vatican a conservative church doctrine that calls for strict enforcement of the celibacy rule for priests and opposes the exercise of priestly duties by lay members of the church. They attended the special synod of the hierarchy of the Netherlands, called by Pope John Paul II in an effort to prevent a schism between Dutch Catholic progressives and conservatives. [New York Times] Thirty-six people were reported killed in Guatemala in an attack by militant peasants on the Spanish Embassy in Guatemala City. The police said the peasants had attempted to occupy the embassy to protest alleged government repression in Quiche, 90 miles north of Guatemala City. [New York Times] Soviet purchases of grain in Argentina to make up for the American grain embargo ordered by President Carter are anticipated by Argentinian farmers and commodity dealers. The prices of grain and oilseeds are soaring in Buenos Aires. [New York Times] A long-term military relationship with Pakistan is planned by the Carter administration. Officials told congressional leaders that the military ties would extend beyond the crisis arising from the Soviet intervention in Afghanistan. [New York Times] Andrei Sakharov's wife was summmoned to appear today before a prosecutor in Moscow. No reason was given for the summons, but Yelina Bonner had transmitted a statement on Monday from her husband saying that he was prepared to stand trial rather than submit to exile in Gorky, where he was banished last week. [New York Times] Millions of dollars in aid to cities this year was approved by the House, but it accepted a last-minute amendment that would cut payments to New York City by half. Nevertheless, New York would get about $15 million, and other municipalities in the state would receive about $10 million. The prospects are good that when the measure is finally enacted, New York City's share will be much more. [New York Times] G. William Miller was accused by the Securities and Exchange Commission of making "erroneous and misleading" statements to shareholders of Textron Inc. in denying, when he was chairman of the company, that Textron had made illegal or improper payments abroad. The civil complaint, settled by Textron without admitting or denying the charges, accused Textron of having made $5.4 million in improper payments in 10 countries to secure helicopter and other sales between 1971 and 1979. [New York Times] Journalists, clergymen and academics would not be prohibited from becoming intelligence agents under intelligence-charter legislation the White House is seeking, according to Senate sources. Instead of prohibition, the sources said, the administration is proposing a declaration in the legislation that the Central Intelligence Agency would seek to protect "the integrity" of the institutions represented by journalists, religious figures and professors. [New York Times] Burglaries have accompanied the soaring prices being offered for gold and silver. Across the country, the police and insurance companies report sharp in-creases in the thefts of precious metals. Waiting lists for deposit boxes at banks are growing, insurance coverage is being increased to cover the rising prices of precious metals, and purchases of safes and strongboxes for use at home are increasing. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 875.85 (-6.06, -0.69%)
S&P Composite: 114.16 (-1.04, -0.90%)
Arms Index: 1.23

	Issues	Volume*
Advances	636	21.09
Declines	913	37.31
Unchanged	358	7.50
Total Volume		65.90

* 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*
January 30, 1980	881.91	115.20	51.17
January 29, 1980	874.40	114.07	55.48
January 28, 1980	878.50	114.85	53.62
January 25, 1980	876.11	113.61	47.09
January 24, 1980	879.95	113.70	59.10
January 23, 1980	877.56	113.44	50.75
January 22, 1980	866.21	111.51	50.61
January 21, 1980	872.78	112.10	48.03
January 18, 1980	867.15	111.07	47.15
January 17, 1980	863.57	110.70	54.19