News stories from Wednesday December 27, 1978
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Wider radar controls were proposed by the Federal Aviation Administration. Spurred by the collision over San Diego in September that killed 144 persons, the agency moved to increase to 65 the number of major airport areas to have maximum control from ground radar facilities. That would cover 87 percent of all airline passengers, as against 67 percent covered today. No airliner in this country has ever been in a collision flying in such an area. [New York Times]
- A husband was acquitted of rape charges filed by his wife. A jury of eight women and four men in Oregon found John Rideout not guilty of first-degree rape of his wife, Greta, after the panel had deliberated three hours in a week-long trial. It was believed to be the first trial in the country in which a wife accused her husband of rape while they were living together. [New York Times]
- Civil defense plans will be limited sharply under a decision by President Carter amid growing skepticism in the administration about the effectiveness of the programs in protecting Americans against nuclear attack. Administration officials said that Mr. Carter had cut the civil defense budget to $115 million, and the figure may drop even further within a few days. [New York Times]
- Sprucing up Pennsylvania Avenue has begun after a long delay and the mandating by Congress of an agency to rejuvenate the area and restore the avenue as the "Main Street of the nation." The avenue was designed as the nation's boulevard of inaugurations and other ceremonies, but it has become pockmarked by slums, parking lots and gaudy souvenir shops. [New York Times]
- Marijuana more potent than previously assumed is being sold across the country, according to federal officials and pro-marijuana groups, who say the strength has risen from 3 to 10 times in the last two years. Both sides agree that the change is attributable to a new dominance of the domestic sales by the stronger Colombia drug, following the virtual shutdown of the once-dominant imports from Mexico. [New York Times]
- Teheran was in chaos in a day of wild shooting and lawlessness, of vehicles burned, pyres set aflame by anti-Shah demonstrators and power cuts. Schools and shops were closed and public transit halted. A strike effectively shut down oil production, and it was announced that fuel rationing in Iran would take effect on Friday. The disruptions were viewed as the gravest threat yet to the reign of the Shah.
The rising crisis in Iran led the State Department to set up a new high-level group to deal with the situation. The Carter administration remained committed to the position that the monarch should continue to play "an important role" in leading Iran to a new government of national reconciliation.
[New York Times] - An angry mob in Taiwan attacked the motorcade of high-ranking American officials arriving to try to arrange a framework for non-official relations following Washington's severance of formal ties with Taipei. Several thousand demonstrators, mostly students, hit the cars with sticks, eggs and sand, broke windows and shouted curses. An American spokesman said later that the negotiations might be canceled because of the demonstrations. [New York Times]
- Houari Boumediene died in an Algiers hospital. He had ruled Algeria for 13 of its 16 years of independence and made it a leading champion of third world nations. [New York Times]
- South Africa has agreed to cooperate in carrying out a United Nations plan to bring South-West Africa to independence next year as Namibia, a high State Department official said. The plan would include a United Nations peace force in Namibia. [New York Times]
- Cambodia reopened Angkor Wat to farmers barred from viewing the ancient temple by eight years of war and revolution. No major damage to the complex was apparent, but there was no evidence of restoration and maintenance, which archeologists say is critical to preservation. [New York Times]
- Spain's democratic Constitution was signed by King Juan Carlos, who pledged to remain above the political fray in the new era. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 808.56 (-7.45, -0.91%)
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* |
| December 26, 1978 | 816.01 | 97.52 | 21.47 |
| December 22, 1978 | 808.47 | 96.31 | 23.79 |
| December 21, 1978 | 794.79 | 94.71 | 28.68 |
| December 20, 1978 | 793.66 | 94.68 | 26.52 |
| December 19, 1978 | 789.85 | 94.24 | 25.96 |
| December 18, 1978 | 787.51 | 93.44 | 32.90 |
| December 15, 1978 | 805.35 | 95.33 | 23.64 |
| December 14, 1978 | 812.54 | 96.04 | 20.85 |
| December 13, 1978 | 809.86 | 96.06 | 22.48 |
| December 12, 1978 | 814.97 | 96.59 | 22.21 |