News stories from Wednesday September 10, 1975

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

The Senate failed by six votes to override President Ford's veto of legislation to continue oil price controls through February. Administration officials expressed confidence that Congress would have to accept some variation of presidential proposals for raising oil prices. In an action considered far less significant, the Senate did override President Ford's veto of the $7.9 billion education appropriations bill. [New York Times] The Senate Select Committee on Intelligence has evidence that the Central Intelligence Agency gave consideration to "operational use" of a shell-fish poison found in its laboratory, including making suicide pills for agents and "aggressive actions," according to sources familiar with the events. A prominent pharmacologist, Dr. Murdoch Ritchie of Yale, has asked the C.I.A. and the committee to prevent destruction of the poison, which he said could be extremely valuable for medical research. [New York Times] President Ford nominated Richard Dunham, long associated with Vice President Rockefeller, to become chairman of the Federal Power Commission. Mr. Dunham, now deputy director of the Domestic Council, was Budget Director of New York State for four years when Mr. Rockefeller was Governor. The White House said he was picked as an efficient administrator. Mr. Dunham said that he had only "tangential" knowledge of energy matters. [New York Times] The New Jersey Election Law Enforcement Commission is ending an investigation of the financing of Charles Sandman's unsuccessful Republican campaign for Governor in 1973. Officials said the inquiry centered on whether a "willful violation" of the statute had been illegal or whether it was only improper. [New York Times] Mayor Beame of New York City said that he accepted responsibility, along with officials past and present, for the "fiscal gymnastics" that financed the city's broad range of services for its citizens. In a television broadcast he recalled that as Controller he had criticized the very procedures he found himself forced to follow later as Mayor. [New York Times] Lebanese troops have been ordered to take up positions between warring Christian and Moslem factions in the Tripoli area of northern Lebanon. Announcing this move, which risked arousing Moslem and leftist groups, Premier Rashid Karami coupled it with word that Gen. Iskandar Ghanem, the army chief disliked by both groups, had been replaced. [New York Times] The Anti-Defamation League of B'nai B'rith filed suit in New York Federal Court charging the Secretary of Commerce, Rogers C. B. Morton, with aiding Arab countries in their boycott of business interests that are directed or owned by Jews or that support Israel. The suit alleges that the department has been circulating to American companies offers of Arab business opportunities that contain restrictive provisions against persons or companies supporting Israel. [New York Times] The deputy chairman of the Moro National Liberation Front, Abur Khair Alanto, has declared in a rare interview in the southern Philippines that the Moslem rebels have not accepted a cease-fire as claimed by President Ferdinand Marcos. Mr. Alonto and other leaders said they would fight on until they achieved full autonomy. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 817.66 (-10.09, -1.22%)
S&P Composite: 83.79 (-0.81, -0.96%)
Arms Index: 1.03

	Issues	Volume*
Advances	257	2.41
Declines	1,134	10.99
Unchanged	375	1.38
Total Volume		14.78

* 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*
September 9, 1975	827.75	84.60	15.79
September 8, 1975	840.11	85.89	11.50
September 5, 1975	835.97	85.62	11.68
September 4, 1975	838.31	86.20	12.81
September 3, 1975	832.29	86.03	12.26
September 2, 1975	823.59	85.48	11.46
August 29, 1975	835.34	86.88	15.48
August 28, 1975	829.47	86.40	14.53
August 27, 1975	807.02	84.43	11.11
August 26, 1975	803.11	83.96	11.35