News stories from Thursday July 17, 1975

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

Astronauts of the United States and the Soviet Union met in space today and joined hands, symbolizing the two nations' expressed desire to cooperate in space exploration. The American Apollo made physical contact with the Soviet Soyuz at 12:09 P.M., Eastern daylight time, about 140 miles above the Atlantic Ocean and about 620 miles west of Portugal. Three and a half minutes later the two ships achieved a firm link-up. [New York Times] The nation's total output of goods and services was essentially flat in the second quarter, providing further evidence that the recession has hit bottom, the Commerce Department said. Preliminary figures showed that the gross national product, the broadest measure of the total economy, declined at an annual rate of three-tenths of 1 percent in the April-June quarter after adjusting for higher prices. [New York Times] The staff of the Rockefeller commission, sources at the commission said, concluded that the chief of the Central Intelligence Agency's LSD. drug-testing program destroyed his records in 1973 to hide details of possibly illegal actions. Dr. Sidney Gottlieb, a biochemist, who was chief of the program, was said to have been personally involved in an experiment in which Frank Olson, a C.I.A. employee, was allegedly given LSD without his knowledge, and later committed suicide.Robert Lashbrook, a former employee of the C.I.A., said in an interview that Mr. Olson had knowingly participated in the CIA experiment with LSD. [New York Times] Israel's Ambassador, Simcha Dinitz, gave Secretary of State Kissinger the latest Israeli proposals for breaking the deadlocked talks with Egypt on a new Sinai agreement. It was reported later that "progress" had been made. Mr. Dinitz reportedly told Mr. Kissinger that Israel was ready to accept a demarcation line in Sinai along the easternmost slopes of the strategic Gidi and Mitla passes. [New York Times] The American Telephone and Telegraph Company announced that it had placed a $100 million note issue with the government of Saudi Arabia. The company has traditionally restricted its borrowings to domestic financial markets. A statement that quoted Charles Brown, the company's executive vice president and chief financial officer, said that "the private placement relieves some of the demand in the domestic capital market and should make it easier to raise the remainder of the year's financing required by Bell operating companies." [New York Times]

Stock Market Report

Dow Jones Industrial Average: 864.28 (-7.83, -0.90%)
S&P Composite: 93.63 (-0.98, -1.04%)
Arms Index: 1.24

	Issues	Volume*
Advances	501	5.78
Declines	921	13.17
Unchanged	401	2.47
Total Volume		21.42

* 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*
July 16, 1975	872.11	94.61	25.25
July 15, 1975	881.81	95.61	28.34
July 14, 1975	875.86	95.19	21.90
July 11, 1975	871.09	94.66	22.21
July 10, 1975	871.87	94.81	28.88
July 9, 1975	871.87	94.80	26.35
July 8, 1975	857.79	93.39	18.99
July 7, 1975	861.08	93.54	15.85
July 3, 1975	871.79	94.36	19.00
July 2, 1975	870.38	94.18	18.53