News stories from Thursday November 13, 1975

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

The names of President Ford's prospective nominees to succeed Supreme Court Justice William O. Douglas, who has resigned because of poor health, have been given to the American Bar Association, which will investigate the nominees' qualifications. The list was prepared by both Justice Department and White House officials and is believed to include women. [New York Times] The White House officially softened its position on financial aid to New York City and indicated that it was considering short-term assistance to ease the city's cash flow problems. Ron Nessen, the White House press secretary, said that such aid would now be considered because the White House regarded Governor Carey's moratorium plan a de facto default. He recalled that President Ford had said that he would "veto any legislation that has as its purpose a federal bailout of New York City to prevent default." Congressional supporters of federal aid to the city maintained the proposed moratorium on the payment of city notes would not constitute a legal default, but they welcomed the change in President Ford's attitude even though they believed it was a political tactic to enable him to take action without appearing to change his mind. [New York Times] Federal regulation of interstate trucking and bus transportation would be sharply reduced under a bill sent by President Ford to Congress. The legislation, bitterly opposed by the trucking industry and the Teamsters union, would substantially ease the entry of new operators into the market and would allow carriers more freedom to raise and lower rates without interference from the Interstate Commerce Commission, but it would remove the truckers' and bus operators' long-standing immunity from anti-trust prosecution. [New York Times] Striking construction workers held the Portuguese Prime Minister, Jose Pinheiro de Azevedo, prisoner in his official residence in Lisbon as President Francisco da Costa Gomes appealed for unity and discipline. The strike for higher wages that began Monday has become a major threat to the government's survival. The strikers, who were joined by large numbers of other workers from industries and farms, said in an ultimatum that if their wage demands were not met they would resort to "other forms of struggle." [New York Times] An explosion on Jaffa Road, the main shopping street of Jerusalem, killed at least six persons and wounded 40. Another explosive charge in a tin can in Mahane Yehlida, the food market in the center of the city, was discovered and defused. The blast on Jaffa Road was the city's third explosion in four months in the center of Jerusalem. The police assumed that, like the previous blasts, it was the work of Arab terrorists. [New York Times] A dinner for two at a Paris restaurant recently cost $4,000. The diners ordered the most lavish dinner for two that Chez Denis could prepare and said that money was no obstacle in ordering the finest dinner in Europe. The bill was paid by American Express, which offered a dinner for two as its contribution to a fundraising auction conducted last June by Channel 13 in New York. The winning bid was $300, but the final bill was accepted with equanimity by American Express. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 851.23 (-1.02, -0.12%)
S&P Composite: 91.04 (-0.15, -0.16%)
Arms Index: 1.17

	Issues	Volume*
Advances	784	11.11
Declines	622	10.27
Unchanged	451	3.69
Total Volume		25.07

* 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*
November 12, 1975	852.25	91.19	23.96
November 11, 1975	838.55	89.87	14.64
November 10, 1975	835.48	89.34	14.91
November 7, 1975	835.80	89.33	15.93
November 6, 1975	840.92	89.55	18.60
November 5, 1975	836.27	89.15	17.39
November 4, 1975	830.13	88.51	11.57
November 3, 1975	825.72	88.09	11.40
October 31, 1975	836.04	89.04	12.91
October 30, 1975	839.42	89.31	15.08