News stories from Monday June 16, 1975

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

Well placed administration sources said that President Ford was considering the question of how best to deal with data on alleged assassination plots found in the minutes of the National Security Council meetings from 1959 to 1963. The data, the sources said, were discovered as White House aides began searching for information requested by the Senate Select Committee on Intelligence and were not part of the material gathered by the Rockefeller commission in its investigation of the Central Intelligence Agency. [New York Times] The Supreme Court unanimously banned the minimum legal fees set by bar groups that home buyers pay as "closing costs" when they take title to property. The Court said that the fees were a form of illegal price-fixing that violates the antitrust laws. The decision, based on a single suburban transaction in Virginia, appeared certain to bring down the closing costs that consumers and lawyers have regarded as artificially high in many parts of the country. [New York Times] The Agriculture Department's investigative agency two years ago found that the division responsible for assuring the safety and quality of United States grain shipments was failing to meet some of its principal obligations. Some of those shortcomings still have not been corrected. They ranged from withholding information about dangerously contaminated grain to suggestions of cozy relations between federal officials and an organization of major exporters. [New York Times] The House refused to accept the resignation of Representative Lucien Nedzi as chairman of its Select Committee on Intelligence Activities, Mr. Nedzi has been at odds with fellow Democrats on the committee. The House vote appeared to cast new doubts on the future of the committee, [New York Times] New York City's policemen, firemen and other public-safety officers won judicial affirmation of their right to hand out "Fear City" pamphlets warning visitors to stay away from New York because of crime and fire hazards. But the 24 unions sponsoring the anti-layoff campaign decided to delay distribution to give several business leaders time to honor a promise to intercede with Mayor Beame. [New York Times] Italy's Communist party made large gains in two days of local, provincial and regional elections, according to incomplete returns early today. The Christian Democrats, which have been Italy's strongest political force, suffered sizable losses. The Socialist party, allied with the Communists in many local administrations and with the Christian Democrats in the national coalition government, also scored gains in the local voting, which ended this afternoon. [New York Times] Portugal's ruling Armed Forces Revolutionary Council handed over physical control of the Socialist newspaper Republica to Communist-led printers. The printers immediately occupied the Republica building. It had been sealed by the military government on May 20 following a job action by printers attempting to remove the Socialist publisher and influence editorial policy. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 834.56 (+10.09, +1.22%)
S&P Composite: 91.46 (+0.94, +1.04%)
Arms Index: 0.56

	Issues	Volume*
Advances	922	11.30
Declines	501	3.41
Unchanged	387	1.95
Total Volume		16.66

* 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*
June 13, 1975	824.47	90.52	16.30
June 12, 1975	819.31	90.08	15.97
June 11, 1975	824.55	90.55	18.23
June 10, 1975	822.12	90.44	21.13
June 9, 1975	830.10	91.21	20.67
June 6, 1975	839.64	92.48	22.23
June 5, 1975	842.15	92.69	21.61
June 4, 1975	839.96	92.60	24.90
June 3, 1975	846.14	92.89	26.56
June 2, 1975	846.61	92.58	28.24