News stories from Tuesday December 16, 1975

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

President Ford has ruled out any form of United States combat intervention in Angola, including advisers, according to high and authoritative administration officials. They said he would not go beyond the current program of aid to two Angolan factions that are fighting a group supported by Moscow. They acknowledged a danger that this could become a test of Soviet and American wills in Africa. They insisted, however, that Mr. Ford and Secretary of State Kissinger believe American interests are limited and that as yet the situation does not bring into question the whole relationship with Moscow. [New York Times] Sara Jane Moore's plea of guilty in the attempted assassination of President Ford in San Francisco on Sept. 22 was accepted in federal court there. Judge Samuel Conti set Jan. 15 for sentencing. The judge asked her to reconsider her refusal to reply to his question whether anyone had encouraged her act. She said that her intention was formed alone on that particular date, but declined to answer his question about some other date. [New York Times] The House of Representatives refused to pass the tax cut bill under a special procedure requiring a two-thirds majority. The vote fell 22 short of this margin. This indicated that President Ford has an excellent chance of having his promised veto sustained if the House, as expected, does pass the bill under procedures requiring only a simple majority vote. [New York Times] A Washington conference of teachers and researchers on violence in schools ended with a consensus that extraordinary security precautions would be needed in many schools for a long time as violence mounts. The talk was of guards, weapons and security "hardware" as well as possible causes and solutions for a problem said to be costing over $600 million a year. [New York Times] The Ford administration agreed to back legislation reimbursing New York and other cities up to $3.5 million for expenses in protecting foreign diplomats, after reaching a compromise with Senator James Buckley and Representative Bella Abzug. [New York Times] Canadian government ministers stayed away from the farewell reception of the departing American Ambassador, William Porter, for his criticism of Canadian policies in remarks to Ottawa newsmen last Saturday. Prime Minister Pierre Trudeau said in Parliament on Monday that Mr. Porter overstepped diplomatic bounds. [New York Times] At the opening session in Paris of the Conference on International Economic Cooperation, Secretary of State Henry Kissinger said the most urgent problem is to meet the needs of poor countries whose ability to pay for imports has been gravely damaged by quintupled oil prices. [New York Times] The House of Commons approved Prime Minister Harold Wilson's agreement of $335 million in aid to Chrysler Corporation's British factories to keep the company from leaving Britain. There were sharp attacks on the terms of the agreement, with some critics sharing an independent assessment that the British automobile industry is saddled with excessive capacity. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 844.30 (+7.71, +0.92%)
S&P Composite: 88.93 (+0.84, +0.95%)
Arms Index: 0.58

	Issues	Volume*
Advances	968	12.01
Declines	461	3.33
Unchanged	472	3.01
Total Volume		18.35

* 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*
December 15, 1975	836.59	88.09	13.96
December 12, 1975	832.81	87.83	13.10
December 11, 1975	832.73	87.80	15.30
December 10, 1975	833.99	88.08	15.68
December 9, 1975	824.15	87.30	16.04
December 8, 1975	821.63	87.07	14.15
December 5, 1975	818.80	86.82	14.05
December 4, 1975	829.11	87.84	16.38
December 3, 1975	825.49	87.60	21.32
December 2, 1975	843.20	89.33	17.93