News stories from Thursday November 20, 1975

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

Ronald Reagan, challenging President Ford for the leadership of the Republican Party, officially announced his candidacy for president in Washington. His campaign had barely officially begun when it was interrupted by a young man who drew a toy gun as Mr. Reagan was speaking to a group of supporters near Miami International Airport in Florida. [New York Times] The Labor Department reported that consumer prices rose a little more in October than in September and that most of the rise reflected volatile food prices. The Consumer Price Index in October was up seven-tenths of 1 percent. [New York Times] The Federal Election Commission ruled that money spent in 1975 on President Ford's political travels as a candidate for the presidency should not be charged against his 1976 campaign spending ceiling except in special cases. The decision will increase by hundreds of thousands of dollars the amount Mr. Ford can spend campaigning against Ronald Reagan in the Republican primaries. [New York Times] A bipartisan Senate select committee issued a report that said that government officials instigated assassination plots against two foreign leaders and became embroiled in plotting that led to the death of three others. The report revealed no entirely new plots, but it established that assassination had become part of United States foreign policy. It presented in great detail the involvement of the Central Intelligence Agency, the Department of Defense and numerous government officials in plots such as hiring Mafia henchmen and making secret arms deliveries to Chilean military officers. The report was strong and unrelenting in stating the reasons, both practical and moral, why it rejected assassination as a technique. It traced a relationship between American plotting and the assassination of President Kennedy. It was made public over the strong opposition of President Ford and after hours of closed debate in the Senate. [New York Times] Generalissimo Francisco Franco, in a message to the Spanish people written before he died, appealed for continued unity, warning that the "enemies of Spain and of Christian civilization are watching." With his death, Spain prepared for a monarchy under Juan Carlos de Borbon. Parliament and the Council of the Realm have been summoned tomorrow to hear Juan Carlos swear fidelity to the fundamental principles of the Franco regime. [New York Times] President Ford announced a series of measures that will be taken to protect American citizens and businesses against discrimination resulting from a foreign boycott. Administration officials said the regulations were intended primarily to protect American Jews who might be the object of an Arab boycott. The regulations would penalize exporters who refused to deal with Jewish suppliers at the demand of Arab customers, or banks that refuse credit to Jews in favor of deposits by Arabs. They do not in any way, however, block an American business from complying with the Arab boycott of Israel. [New York Times] United States officials said that Cuba had sent 3,000 fighting men and advisers to Angola, to which the Soviet Union has shipped large quantities of arms in recent weeks in support of the Popular Movement for the Liberation of Angola. The officials said that the Popular Movement's forces, numbering perhaps 10,000, are still "on the defensive" against two other Angolan nationalist movements. [New York Times] The Republican and Democratic leadership in the New York legislature tentatively agreed on a $200 million New York City tax package that does not include any increase in the city sales tax, but contains increases of up to 25 percent in the resident income tax. The agreement ended a partisan stalemate on the $200 million revenue package, which reportedly is President Ford's prerequisite for his approval of loan guarantees for the city. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 843.51 (-4.73, -0.56%)
S&P Composite: 89.64 (-0.34, -0.38%)
Arms Index: 0.91

	Issues	Volume*
Advances	572	6.03
Declines	790	7.57
Unchanged	460	2.86
Total Volume		16.46

* 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*
November 19, 1975	848.24	89.98	16.82
November 18, 1975	855.24	91.00	20.76
November 17, 1975	856.66	91.46	17.66
November 14, 1975	853.67	90.97	16.46
November 13, 1975	851.23	91.04	25.07
November 12, 1975	852.25	91.19	23.96
November 11, 1975	838.55	89.87	14.64
November 10, 1975	835.48	89.34	14.91
November 7, 1975	835.80	89.33	15.93
November 6, 1975	840.92	89.55	18.60