News stories from Monday September 29, 1975

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

When they were arrested by surprise in San Francisco, Patricia Hearst and her friends, Wendy Yoshimura and William and Emily Harris, had lists of business executives in the San Francisco area and lists of banks, some with floor plans, according to court records based on search warrants. Guns were found in the apartments occupied by Miss Hearst and Miss Yoshimura and Mr. and Mrs. Harris. The Harrises possessed a large variety of arms, in addition to hundreds of rounds of ammunition. [New York Times] President Ford is expected to name Roderick Hills, now a counsel to the President, as the new chairman of the Securities and Exchange Commission, succeeding Ray Garrett Jr., who has resigned. Mr. Hills's wife, Carla, is Secretary of Housing and Urban Development. [New York Times] Governor Byrne asked the chairman of the New Jersey Assembly Judiciary Committee to review the triple-murder convictions of Rubin (Hurricane) Carter and John Artis and to recommend whether pardons should he granted. At the same time, Assemblyman Eldridge Hawkins of East Orange said that he had received strong legislative support for a plan to investigate possible prosecutorial and police mishandling of the controversial case. [New York Times] The House Select Committee on Intelligence voted to seek a resolution from the House supporting its demand for full access to classified documents and other materials the committee has subpoenaed from William Colby, Director of Central Intelligence. The Ford administration has agreed to provide the materials, but with certain omissions. Representative Otis Pike, the committee's chairman, made clear that if the House approved the resolution, and the withheld Information was still not available, he would favor asking the House to find Mr. Colby in contempt of Congress. [New York Times] Nineteen of the world's largest airlines -- all but four of the major trans-Atlantic lines serving New York -- pleaded no contest in Federal District Court in Brooklyn to criminal charges of illegal fare-cutting and were fined a total of $655,000. [New York Times] Portugal's left sought to mobilize its forces to confront the government after Premier Jose Pinheiro de Azevedo, who said the country was in a state of "de facto emergency," ordered troops to radio and television stations. In a communique broadcast on most of the stations, Premier Azevedo said "some information organs, especially radio and television," had undertaken a "provocative campaign of seditious attitudes that endanger the revolution." [New York Times] Tens of thousands of Basques went on strike in northern Spain in protest against the execution on Saturday of Basque separatists convicted of killing policemen. In Madrid, the cabinet held an unusual Monday meeting to survey the damage done to the country's international position after art outcry in Europe and other parts of the world, After the meeting, an official said that no further trials would be held "in the near future." [New York Times] The General Motors Corporation will manufacture trucks in Poland for sale throughout the world, according to commercial sources in Warsaw. General Motors, it was said, will soon start work on a large plant in Lublin, in eastern Poland. This will be one of the largest manufacturing ventures undertaken in Eastern Europe by an American company. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 805.23 (-13.37, -1.63%)
S&P Composite: 85.03 (-1.16, -1.35%)
Arms Index: 1.69

	Issues	Volume*
Advances	433	2.02
Declines	900	7.10
Unchanged	433	1.46
Total Volume		10.58

* 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 26, 1975	818.60	86.19	12.57
September 25, 1975	820.24	85.64	12.89
September 24, 1975	826.19	85.74	16.06
September 23, 1975	819.85	84.94	12.80
September 22, 1975	820.40	85.07	14.75
September 19, 1975	829.79	85.88	20.83
September 18, 1975	814.61	84.06	14.30
September 17, 1975	799.05	82.37	12.19
September 16, 1975	795.13	82.09	13.09
September 15, 1975	803.19	82.88	8.67