News stories from Tuesday July 15, 1980

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

Ronald Reagan sounded out Gerald Ford as he edged closer to naming a running mate, though he stopped short of a formal offer, and sources in the Reagan campaign said the former President deflected the proposal without categorically rejecting it. On the second day of the convention an array of speakers, led by former Secretary of State Henry Kissinger and Senator Barry Goldwater, opened wide attacks on President Carter and his policies. [New York Times] Mr. Reagan moved to end opposition from some women to the Republican Party platform by pledging to fight sex-based discrimination and to promote equality of opportunity for women. In a meeting with Republican women, he said he would not hesitate to name a running mate who supported the proposed federal equal rights amendment and vowed to name women to posts at all levels of a Reagan administration. [New York Times] Benjamin Hooks delivered an address in a hastily scheduled convention appearance. The executive director of the National Association for the Advancement of Colored People called on the Republican party to "make sure that the American values of equality of opportunity are guaranteed." He was added to the program after black delegates threatened a walkout. [New York Times] Richard Queen has multiple sclerosis, according to American doctors who examined the 28-year-old vice consul held hostage in Iran for 250 days. They did not indicate the severity of the nervous system disorder, but said a complete recovery was possible. [New York Times] Rep. Richard Kelly was indicted by a federal grand jury, becoming the sixth member of Congress and the first Republican to be charged in a Federal Bureau of Investigation inquiry. The indictment accused the Florida Congressman of accepting a $25,000 cash bribe from an undercover agent, with the expectation of receiving $75,000 more. [New York Times] Federal funds for heat wave victims are being made available upon orders of President Carter. The sweltering temperatures have claimed nearly 700 lives in a 16-state "heat belt". The funds will provide low-income individuals with transportation to heat relief centers and with fans and air conditioners. [New York Times] Synanon's founder pleaded no contest, along with two other members of the drug rehabilitation organization, to charges they conspired to commit murder with a rattlesnake. Charles Dederich, the 67-year-old founder who has said he is in poor health, agreed not to take part in managing Synanon, and prosecutors agreed not to seek a prison term. [New York Times] Zenko Suzuki was chosen to lead Japan's governing Liberal Democratic Party. In a 30-minute session, the 424 party members of Parliament named him party president and nominated him for Prime Minister. [New York Times] The U.S. will sell missiles to Britain, officials announced. President Carter informed Prime Minister Margaret Thatcher on Monday that the United States would supply the Trident I system, the most advanced submarine-launched rocket now deployed by the American Navy. [New York Times] Egyptians and Israelis quarreled in public after three days of meetings to decide an agenda for the resumption of negotiations next month on the issue of Palestinian autonomy. Boutros Ghali of Egypt and Shmuel Tamir of Israel clashed in front of reporters over Israeli security concerns and the status of Jerusalem. [New York Times] South Korea ousted 4,760 officials from posts in the central government in Seoul and in provincial adminstrations. They were removed for accepting bribes, disclosing secret information, incompetence, indolence or being physically unfit. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 901.54 (-4.01, -0.44%)
S&P Composite: 119.30 (-0.71, -0.59%)
Arms Index: 1.43

	Issues	Volume*
Advances	825	24.12
Declines	725	30.35
Unchanged	376	6.45
Total Volume		60.92

* 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*
July 14, 1980	905.55	120.01	45.48
July 11, 1980	891.13	117.84	38.31
July 10, 1980	885.92	116.95	43.73
July 9, 1980	897.27	117.98	52.00
July 8, 1980	897.35	117.84	45.83
July 7, 1980	898.21	118.29	42.54
July 3, 1980	888.91	117.46	47.23
July 2, 1980	876.02	115.68	42.85
July 1, 1980	872.27	114.93	34.34
June 30, 1980	867.92	114.24	29.90