News stories from Monday February 11, 1980

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

A mixed signal from Iran was issued by Ayatollah Khomeini on the first anniversary of the nation's Islamic revolution. In a message, the leader urged all oppressed peoples to rise and fight for their rights against the superpowers, but he also raised the prospect of an eventual normalization of relations with Washington.A formula for release of the hostages being held in the American Embassy in Iran was suggested by President Abol-hassan Bani-Sadr. It calls for Washington to acknowledge its "crimes" in Iran over 25 years and to pledge to stay out of Iranian affairs. But Washington said it would not "profess guilt" to win the release of the captives. [New York Times] Athletes from Taiwan were rebuffed by a New York state appellate court, which ruled unanimously that they could not use the flag and the anthem of the Republic of China at the Winter Olympics. The state's highest court is scheduled to consider the case tomorrow, and its agreement with the lower court would clear the way for China to take part in its first Olympics since the Communist takeover in 1949. [New York Times] Major factors in Democratic races this year may be college students and issues that motivate them politically -- the draft and nuclear power, according to indications in Sunday's caucuses in Maine. President Carter won a clear victory, but Senator Edward Kennedy of Massachusetts and Gov. Jerry Brown of California won strong support from the students, bolstering their campaigns.Ebullient Kennedy campaign workers scambled back from Maine with first-hand accounts of how there is life after Iowa. Last week, many Kennedy workers in New Hampshire talked in terms of holding down the size of defeat, but now they talk of possible victory. "Oh, it's sweet, it's terrific, you should see all the happy people here," said Susan Casey, Senator Kennedy's campaign chairman in Dover, New Hampshire, "Momentum is here again." [New York Times] In the undercover corruption inquiry, Attorney General Benjamin Civiletti announced the appointment of Richard Blumenthal, the federal prosecutor for Connecticut, to head the Justice Department's internal investigation of how news organizations had obtained confidential information. Mr. Civiletti said that, except for the eight members of Congress identified in news reports, he knew of no others involved in the inquiry. [New York Times] A Census Bureau official was relieved of his assignment of overseeing the 1980 census and reportedly reassigned just 50 days before the start of the count. The last "straw" was said to have been the failure of the official, Earle Gerson, to report to superiors an error involving the affixing of some address labels that would result in the loss of vital geographic information on returned questionnaires. [New York Times] Three former Nazis were convicted by a West German court of complicity in the deportation and murder of about 50,000 Jews from occupied France. The three former members of the SS were sentenced to prison terms of 12, 10 and 6 years. [New York Times] A new major food crisis in Cambodia within a few weeks was predicted by international relief officials, diplomats and Cambodian refugees in Thailand, contrary to an optimistic assessment made by the head of the international relief effort. [New York Times] Four Lebanese Christians were slain in their homes near the Israeli border, reportedly by Palestinian raiders. The murders of the civilians led Israel to affirm a pledge of last week that it would not stand idly by and watch its Lebanese allies be destroyed. [New York Times] An increased U.S. military presence in the Arabian Sea area will be facilitated by Oman, Kenya and Somalia, according to American officials. They said the three countries had agreed to permit American forces to make regular visits to military bases and to store equipment and fuel there. In return. Washington is said to plan to provide military aid. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 889.59 (-6.14, -0.69%)
S&P Composite: 117.12 (-0.83, -0.70%)
Arms Index: 0.97

	Issues	Volume*
Advances	565	19.12
Declines	1,000	32.80
Unchanged	369	6.74
Total Volume		58.66

* 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*
February 8, 1980	895.73	117.95	57.86
February 7, 1980	885.49	116.28	57.69
February 6, 1980	881.83	115.72	51.95
February 5, 1980	876.62	114.66	41.87
February 4, 1980	875.09	114.37	43.06
February 1, 1980	881.48	115.12	46.65
January 31, 1980	875.85	114.16	65.89
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