News stories from Wednesday June 18, 1975

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

President Ford has selected Howard Callaway as chairman of his 1976 election campaign. The designation of Mr. Callaway, who will resign his present post as Secretary of the Army, ends Mr. Ford's search for a full-time campaign director with conservative credentials but only limited ties to the 1972 campaign of President Nixon. [New York Times] President Ford has decided to ask for legislation that would allow the production and sale of enriched uranium to private industry, according to White House officials. At present, enriched uranium production is a government monopoly. The three existing uranium-producing plants would be kept in government hands, but all future enrichment plants would be built and operated by private owners if the President's approval goes through. [New York Times] The United States may be facing the tightest gasoline supply situation since the Arab embargo if present production trends continue, according to industry statistics. The threat comes at a time when crude oil stocks are high and there is as much as 12 million barrels a day in surplus producing capacity throughout the world. But there was a sharp drop last week along with a decline in gasoline production and refinery capacity use. [New York Times] The Central Intelligence Agency organized an attempt in 1961 to poison Fidel Castro, his younger brother, Raul, and Che Guevara, according to a source who claims direct knowledge of the operation. The triple assassination plot, the source said, was conceived in 1960 during the Eisenhower administration and was directed by Sam Giancana and John Roselli, two alleged organized crime figures recruited by the C.I.A. as middlemen on the project. [New York Times] Secretary of State Kissinger has pledged that despite recent setbacks in Indochina the United States "will not turn away from Asia," and will continue to oppose efforts by any state to impose its will by force on the Asian continent. He made the statement in a major policy speech on Asia before the Japan Society here and sought particularly to ease Japanese concerns in the post-Vietnam era. [New York Times] The Soviet Union has again cautioned Japan not to conclude a new treaty with China incorporating a clause aimed at limiting Soviet influence in Asia. The clause, which Peking seeks to have included in a treaty of peace and friendship now being negotiated with Tokyo, would pledge both states to resist attempts of a third nation to establish hegemony in Asia, an apparent allusion to the Soviet Union. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 827.83 (-0.78, -0.09%)
S&P Composite: 90.39 (-0.19, -0.21%)
Arms Index: 0.89

	Issues	Volume*
Advances	612	6.31
Declines	795	7.29
Unchanged	413	1.99
Total Volume		15.59

* 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 17, 1975	828.61	90.58	19.44
June 16, 1975	834.56	91.46	16.66
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