News stories from Friday August 22, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Economic analysts, who have been surprised almost as much as the administration by the resurgence of double-digit inflation, said that they attributed the return of sharply rising prices to politics and psychology, rather than to fundamental economic factors. But they also agreed that higher prices do not at the moment threaten to abort the still-fragile recovery. [New York Times]
- Recent experiments at government laboratories on Plum Island at the eastern end of Long Island support the theory that global epidemics, or pandemics, of influenza occur after an entirely new influenza virus has been created by the natural recombining of fragments of virus strains from human beings, other mammals and birds. Another flu pandemic has been forecast for 1978-80. A worldwide effort is under way to capture and freeze as many types of flu virus as possible to see whether the way in which the pandemic virus emerges can be traced. [New York Times]
- Premier Vasco Goncalves of Portugal reportedly stiffened his resolve to fight to keep his post against the pressure of a majority of the country's political and military forces. The move to force him out ran into further snags as two factions of the armed forces that had agreed last Tuesday on a common platform to replace him suddenly developed disagreements of an undisclosed nature. [New York Times]
- Refugees from the fighting in Angola who have gone home to Portugal have found there is little room for them, no work and not much hope. Nearly every family, no matter how poor, in the hillside village of Gondomar east of Oporto in northern Portugal, has received or is expecting destitute relatives from the African territory. The situation is similar in towns and villages throughout northern Portugal because most of the 500,000 white settlers in Angola came from this area. [New York Times]
- After Secretary of State Kissinger left Israel for Egypt, Premier Yitzhak Rabin assured his anxious public on television that the impending interim agreement with Egypt would commit both nations not to resort to force. Mr. Rabin's remarks, made in an interview, provided little information on the more than four hours of discussions between Mr. Kissinger's party and the Israeli negotiating team. During the day, 42 persons were reported under arrest for violence during demonstrations in Israeli cities. The demonstrators maintain that an interim agreement threatens the survival of Israel. [New York Times]
- Abu Sayeed Chowdhury, a former President of Bangladesh and now the country's Foreign Minister, granted the first interview given by an official of the new government. He said that Khondakar Mushtaque Ahmed was told of the coup against the late President, Sheik Mujibur Rahman, only "at the very last moment," by its military organizers, who asked him to be President. They then tried desperately to assemble a cabinet. He said that the first priorities of the new government were "food, clothing and maintaining law and order. [New York Times]
- Authoritative sources in Dacca, Bangladesh, said that the young officers who led the coup against Sheik Mujibur Rahman killed him and more than 20 members of his family and political associates, then lost out during a showdown with the new leader. The coup began, they said, when a truckload of troops started firing into the home of Sheik Moni, nephew of Sheik Mujib and editor of The Bangladesh Times. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 804.76 (+13.07, +1.65%)
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* |
| August 21, 1975 | 791.69 | 83.07 | 16.61 |
| August 20, 1975 | 793.26 | 83.22 | 18.63 |
| August 19, 1975 | 808.51 | 84.95 | 14.99 |
| August 18, 1975 | 822.75 | 86.20 | 10.81 |
| August 15, 1975 | 825.64 | 86.36 | 10.61 |
| August 14, 1975 | 817.04 | 85.60 | 12.46 |
| August 13, 1975 | 820.56 | 85.97 | 12.00 |
| August 12, 1975 | 828.54 | 87.12 | 14.51 |
| August 11, 1975 | 823.76 | 86.55 | 12.35 |
| August 8, 1975 | 817.74 | 86.02 | 11.66 |