News stories from Tuesday September 16, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Congressional Budget Office said that the economic recovery, which now looks very strong, is likely to slow appreciably by the middle of next year leaving 7 to 7.5 million Americans unemployed at the end of 1976. It warned that failure of Congress to restore oil price controls could "abort" the recovery. The office was created this year to give Congress a better framework for deciding on spending and tax policies. [New York Times]
- Top officials of the Federal Bureau of Investigation, probably including the late director, J. Edgar Hoover, ordered the destruction of a letter in which Lee Harvey Oswald conveyed violent threats before he assassinated President Kennedy. A source familiar with the meeting said that the decision was reached on the weekend after Mr. Kennedy's death. [New York Times]
- John Durkin, a 39-year-old Democratic moderate, defeated Louis Wyman, a Republican, by a decisive margin in the New Hampshire special Senate election. Mr. Durkin increased the strong urban majority he had won in the deadlocked election last November, and held his previous strength in rural areas. The voter turnout exceeded last year's. [New York Times]
- President Ford said that unless the House Select Committee on Intelligence adopts procedures to safeguard sensitive materials he would defy its subpoena to turn over classified documents on the Vietnam War. A White House official said Mr. Ford hoped to reach a compromise, but the committee chairman, Otis Pike, Democrat of Suffolk, said he would oppose one. [New York Times]
- The Central Intelligence Agency for 18 years developed biochemical weapons, poisons and devices such as dart guns to administer them. Its director, William Colby, told the Senate Select Committee on Intelligence that after the project was halted by presidential order in February. 1970, the C.I.A. stockpiled two poisons, from cobra venom and shellfish. A retired C.I.A. chemist, Dr. Nathan Gordon. told the committee he assumed the order was directed at the military, not the C.I.A., and kept them without notifying his chiefs. [New York Times]
- American administrators of the Rhodes Scholarships plan to make women eligible next year following completion of action in the House of Commons to end sex discrimination in an educational trust. The Rhodes trustees in Great Britain have announced they will move promptly to eliminate the all-male requirement. [New York Times]
- Four Palestinian guerrillas flew to Algiers today with their hostages from the Egyptian Embassy in Madrid whom they had taken yesterday when they forced their way into the embassy and threatened to blow it up unless Egypt scrapped her disengagement agreement with Israel. The hostages include the Egyptian Ambassador.
President Anwar Sadat of Egypt said in a televised speech in Cairo that his government would not bow to any terrorist demands that it change its foreign policy. He said, however, that he had agreed to a request that the guerrillas be allowed to fly to Algeria with the hostages.
[New York Times] - President Ford said the United States would supply Israel with "very substantial military weaponry" in the aftermath of the Sinai agreement, but insisted that American diplomatic, political and defense assurances did not constitute a security treaty with Israel. He said the private assurances to supply advanced equipment were not firm commitments and that a shopping list still had to be discussed with Israel. [New York Times]
- Rich and poor countries agreed unanimously at the end of the United Nations General Assembly's special session on the plight of the third world on measures to narrow the gap between them. The United States expressed some reservations about specific passages in the 6,000-word document, but its chief delegate, Daniel Patrick Moynihan, told the Assembly a genuine accord had been reached. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 795.13 (-8.06, -1.00%)
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 15, 1975 | 803.19 | 82.88 | 8.67 |
| September 12, 1975 | 809.29 | 83.30 | 12.23 |
| September 11, 1975 | 812.66 | 83.45 | 11.10 |
| September 10, 1975 | 817.66 | 83.79 | 14.78 |
| 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 |