News stories from Monday November 26, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A partial American evacuation from about 10 Moslem countries was announced by the State Department, which said that dependents, non-essential personnel and private businessmen should "voluntarily" leave those countries to minimize risks in the aftermath of the turmoil in Iran, Pakistan and Saudi Arabia. Meanwhile, the White House held to its position on Iran, saying it would reject any arrangement that did not begin with the unconditional release of all 49 American hostages in Teheran. [New York Times]
- An appeal for the immediate release of American hostages in Iran was being prepared by the United Nations Security Council. The members weighed whether to issue the appeal from the council or its president.
Iran's leaders seemed divided over a request by Secretary General Waldheim for a United Nations Security Council meeting. Officials said they had asked for a week's delay in the meeting so that Iran could clarify its positions. But the Iranians' price for releasing 42 American hostages still appeared to be a surrender of the deposed Shah for trial in Iran.
[New York Times] - The financial dealings of the Shah, his family and associates are being investigated by the revolutionary government of Iran, which began to publicize some findings. An official said that records showed almost $800 million in loans by 12 banks in Iran, none apparently American-controlled, made to the Shah's two sisters and associates on unusually generous terms. [New York Times]
- Interest rates dropped sharply amid widening speculation that they have passed their peaks and are now headed downward. The Bankers Trust Company lowered its prime corporate lending rate to 15½ percent from a record 15¾ percent, marking the first break in a continuous upward trend in bank loan rates since early October. In response, stock prices soared. [New York Times]
- A veteran exposed to atomic tests became the first known former serviceman to win federal benefits in a case in which cancer was diagnosed after the victim left the military. The ruling by the Board of Veterans Appeals constitutes its first acknowledgement that cancer and exposure to radiation could be related. [New York Times]
- Federal financing of abortions will be reviewed by the Supreme Court, which announced it would hear arguments on whether the government could constitutionally refuse to pay for abortions for poor women whose doctors say the surgery is medically necessary. The Court tentatively accepted three appeals from a lower court decision that declared unconstitutional a four-year congressional ban on Medicaid financing for most abortions. [New York Times]
- Protecting union funds from racketeers is the aim of broad changes urged by a Senate investigations panel in the laws and rules governing such pension and trust accounts. The panel said it had found that a complex insurance fraud involving union trust funds had resulted in the loss of about $11 million in insurance assets. [New York Times]
- Homosexual foster teenagers with behavioral problems have been placed by New Jersey in homes headed by lesbians. A state spokesman said that the four-year program involved "five to ten" teenagers. [New York Times]
- The arrest of 96 South Koreans, including former legislators and a prominent civil rights leader, was announced in Seoul. The arrests were made at the first anti-government rally since martial law was imposed after the Oct. 28 assassination of President Park. Hundreds of dissidents were said to have attended the meeting, disguised as a wedding reception. [New York Times]
- China's return to Olympic competition for the first time in 32 years was assured by the International Olympic Committee, while it left Taiwan's future status in doubt. Committee members voted 62 to 17 in favor of allowing both China and Taiwan to take part in the 1980 Games, but ruled that Taiwan must change its Olympic name, flag and anthem. [New York Times]
- Aid for many Cambodians is thwarted by the self-appointed leaders of more than 400,000 of the refugees camped along the Thai border. The leaders accuse Thailand of collaborating with Vietnam in forcing Cambodians from their homeland. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 828.75 (+16.98, +2.09%)
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* |
| November 23, 1979 | 811.77 | 104.67 | 23.30 |
| November 21, 1979 | 807.42 | 103.89 | 37.02 |
| November 20, 1979 | 809.22 | 103.69 | 35.01 |
| November 19, 1979 | 815.27 | 104.23 | 33.09 |
| November 16, 1979 | 815.70 | 103.79 | 30.06 |
| November 15, 1979 | 821.33 | 104.13 | 32.37 |
| November 14, 1979 | 816.55 | 103.39 | 30.95 |
| November 13, 1979 | 814.08 | 102.94 | 29.24 |
| November 12, 1979 | 821.93 | 103.51 | 26.66 |
| November 9, 1979 | 806.48 | 101.51 | 30.06 |