News stories from Friday December 26, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The filing period for the New Hampshire presidential primary, the first of those that will be held in various states next year, ended at 5 P.M. At that time 15 Democrats and four Republicans, including President Ford, had entered their names. Delegates backing specific candidates still have until Jan. 12 to enter their names. There are 23 openings for Democrats and 17 for Republicans. [New York Times]
- Faced with insufficient tax revenues and spiraling cost-of-living increases while trying to balance their budgets without politically unpopular tax increases, many large states are cutting their contributions to welfare and education. Medicaid is especially affected by reductions in state payments for such things as dental work and prescription drugs. The reluctance of voters to approve bond issues for public works projects also has influenced legislators to adopt a more conservative position. [New York Times]
- The Environmental Protection Agency has issued a set of regulations, mainly affecting municipal contracts, that it believes will protect the "financial integrity" of the $18 billion program of federal grants that aid cities in the construction of waste treatment plants. The regulations, which will become effective March 1, would abolish the type of contracts that municipalities have signed with engineering companies and would substitute an E.P.A.-approved contract form designed to limit engineering concerns to what the agency regards as reasonable profits. The new regulations follow an audit made a year ago by the agency of 41 such projects -- making up the nation's largest federal works program -- that found that the program "affords vastly expanded temptations and opportunities for the gamut of irregularities." [New York Times]
- Argentina's army asserted its growing influence in the country's politics today by blocking a demand by Peronist labor leaders for the removal by the federal government of the governor of the Buenos Aires Province, the largest and wealthiest in Argentina. The labor leaders criticized Gov. Victorio Calabro, who is a Peronist, for the way he dealt with a leftist uprising in the province recently. But Gen. Jorge Rafael Videla, the Commander of the Army, complimented the governor for stopping the uprising, in which 150 people were killed. His gesture was regarded as giving the governor military backing. Governor Calabro has publicly stressed a need for major changes in Peronist leadership, including the resignation of the President Isabel Martinez de Peron. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 859.81 (+7.87, +0.92%)
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* |
| December 24, 1975 | 851.94 | 89.46 | 11.15 |
| December 23, 1975 | 843.75 | 88.73 | 17.75 |
| December 22, 1975 | 838.63 | 88.14 | 15.34 |
| December 19, 1975 | 844.38 | 88.80 | 17.72 |
| December 18, 1975 | 852.09 | 89.43 | 18.04 |
| December 17, 1975 | 846.27 | 89.15 | 16.56 |
| December 16, 1975 | 844.30 | 88.93 | 18.35 |
| December 15, 1975 | 836.59 | 88.09 | 13.96 |
| December 12, 1975 | 832.81 | 87.83 | 13.10 |
| December 11, 1975 | 832.73 | 87.80 | 15.30 |