News stories from Tuesday April 17, 1979

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

Major nuclear-plant safeguards were recommended by the government's senior advisory committee on the safety of reactors. The panel, made up of 14 of the nation's leading reactor safety experts, advised that a broad range of new instruments should be installed on more than half of the country's 72 reactors. The recommendation goes well beyond the remedial steps advised by the staff of the Nuclear Regulatory Commission after the accident March 28 at the Three Mile Island reactor in Pennsylvania.Research on low-level radiation should be subject to major changes in government regulation, according to a special White House panel. It recommended that the Environmental Protection Agency coordinate radiation research and controls. [New York Times] Firm opposition to wage guidelines set by the administration to combat inflation was expressed by Douglas Fraser, president of the United Auto Workers. He told his members that the wage-price guidelines did not call for equal sacrifices and would not be considered in the union's demands when it begins negotiating a new three-year contract for its 1.5 million members this fall. [New York Times] A housing discrimination suit was upheld by the Supreme Court. In a 7 to 2 decision, the Court affirmed the right of a locality and its residents to bring suit under the Fair Housing Act when they believe that real estate agents are illegally trying to direct black home buyers to an integrated neighborhood and to direct whites away from that neighborhood. [New York Times] A 17th century trading ship and other remains of an ill-fated Scottish colony at Caledonia Bay on the Caribbean coast of Panama have been discovered by archaeologists. [New York Times] Two couples faced murder charges in the slaying of three security guards in a $1.8 million robbery Monday in Waterbury, Conn., and the police said that "nearly all" of the stolen property had been recovered. Conviction of the charge carries a maximum penalty of death. Police sources said the authorities had received a crucial lead when a man reported he had sold one of the accused two M-1 rifles. [New York Times] Teachers must be American citizens, according to the United States Supreme Court, which upheld the constitutionality of a New York state law imposing such a requirement on public school teachers. The 5 to 4 decision came a year after the Court upheld New York's citizenship requirement for state police officers. [New York Times] There was rising opposition in Iran to the Islamic committees of Ayatollah Khomeini. Ayatollah Taleghani, the leading religious figure in Teheran, warned against a return of "dictatorship and despotism." A rally of 50,000 people protested brief arrests of members of Ayatollah Taleghani's family by Islamic militiamen and demanded the return of the Teheran leader to active politics. [New York Times] Soviet compliance with an arms accord could be verified "adequately" in about a year, according to Defense Secretary Harold Brown. The capability was weakened by the loss of two monitoring posts in Iran. Mr. Brown contended that it would also take the Russians a "period of years" to complete tests on any new missile systems that might violate a pact. [New York Times] Blacks voted throughout Rhodesia for a new government amid hopes that the balloting would end the six-year guerrilla war. On the first of five days of voting nearly 20 percent of the 2.9 million eligible voters were said to have cast ballots. The turnout was hailed by officials as an endorsement of the accord for limited black rule. [New York Times] The Idi Amin regime was a snake pit of fear and paranoia, according to hundreds of documents found in abandoned Ugandan government offices in Kampala. The deposed President's regime was shown to be dominated by a secret police that spent millions of dollars on sophisticated devices used by agents who were barely literate. The documents record many instances of betrayal within families. [New York Times] Israel faces rising terrorism. A watchful youth saved a busload of people from death or injury in Tel Aviv when he spotted a time bomb under a seat. Moments after passengers left the bus, it blew up. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 857.93 (-2.52, -0.29%)
S&P Composite: 101.24 (+0.12, +0.12%)
Arms Index: 0.84

	Issues	Volume*
Advances	644	12.28
Declines	785	12.52
Unchanged	478	4.46
Total Volume		29.26

* 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*
April 16, 1979	860.45	101.12	28.05
April 12, 1979	870.50	102.00	26.78
April 11, 1979	871.71	102.31	32.87
April 10, 1979	878.72	103.34	31.90
April 9, 1979	873.70	102.87	27.30
April 6, 1979	875.69	103.18	34.72
April 5, 1979	877.60	103.26	34.54
April 4, 1979	869.80	102.65	41.94
April 3, 1979	868.33	102.40	33.53
April 2, 1979	855.25	100.90	28.97