News stories from Tuesday September 29, 1981

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

The President told developing nations that they must provide incentives to private enterprise so it can play a much larger role in building up their economies. Addressing representatives of 140 countries, Mr. Reagan cited the "magic of the marketplace" and suggested that the key to advancement was to "reward honest toil and legitimate risk." [New York Times] An order to turn back aliens in ships on the high seas was issued to the Coast Guard by President Reagan. Under the unexpected directive, Coast Guard vessels may intercept and turn around vessels suspected of carrying Haitians seeking to enter this country illegally. Until now, vessels were challenged only after they had entered United States waters. [New York Times] The impact of Proposition 13, a property tax cut passed by California voters in 1978, is beginning to cut deeply into state and municpal services. A multi-billion-dollar surplus, which camouflaged the effect of the tax cut, is now depleted. [New York Times] The investigation of former agents charged with exporting explosives to Libya has been stepped up, Justice Department officials said. A senior attorney has been appointed to coordinate the inquiry into the affairs of two former C.I.A. agents, Edwin P. Wilson and Frank E. Terpil. [New York Times] Startup of a nuclear plant was delayed by the Pacific Gas and Electric Company. It said that operation of the Diablo Canyon plant north of Los Angeles was being put off indefinitely because the structure of a cooling system did not conform to the approved design. For the last two weeks, demonstrators have been contending that the reactor, which is near an earthquake fault line, is unsafe. [New York Times] A ban on the pesticide endrin was urged by four influential environmental organizations. The pesticide was found in the flesh of game birds after the spraying of 262,000 acres of land in four Western states earlier this year. The pesticide is known to cause neurological disorders, birth defects and cancer. [New York Times] Actors at Disney World complain that they are overworked, underpaid and must wear unclean costumes. The assertions against the amusement center in Orlando, Fla., were made by employees who include the impersonators of many Disney characters. [New York Times] Basic decisions on the arms program to be announced Friday by the Reagan administration have been made. Congressional sources said that the program probably calls for the deployment of 100 MX mobile missiles and 1,000 silos to house them in the West and the construction of 50 of the new B-1 bombers. [New York Times] Rightists in Britain's Labor Party won a victory at the annual labor conference. The embattled group took control of the party's National Executive Committee, which the left wing has used for more than a decade in its drive to impose its views on Labor Members of Parliament. [New York Times] Nuclear investigations in Pakistan have been started by arms control and intelligence officials of the Reagan administration and inspectors of the International Atomic Energy Agency. They are investigating what they term "suspicious" activities at Pakistan's nuclear reactor, which can produce plutonium. [New York Times] Violence continued in Iran. An Islamic clergyman-politician was assassinated in a grenade explosion, and 43 more anti-government guerrillas were executed by the revolutionary Islamic authorities. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 847.89 (+5.33, +0.63%)
S&P Composite: 115.94 (+0.41, +0.35%)
Arms Index: 1.41

	Issues	Volume*
Advances	1,205	30.77
Declines	366	13.17
Unchanged	311	5.86
Total Volume		49.80

* 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*
September 28, 1981	842.56	115.53	61.32
September 25, 1981	824.01	112.77	54.39
September 24, 1981	835.14	115.01	48.88
September 23, 1981	840.94	115.65	52.69
September 22, 1981	845.70	116.68	46.81
September 21, 1981	846.56	117.24	44.56
September 18, 1981	836.19	116.25	47.34
September 17, 1981	840.09	117.15	48.29
September 16, 1981	851.60	118.87	43.62
September 15, 1981	858.35	119.77	38.58