News stories from Monday January 12, 1976

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

Three pipe bombs were found in an underground passageway to the United Nations headquarters. New York police and United Nations officials said one had been timed to explode at 3 P.M., a half hour before the start of the Middle East debate in the Security Council. They were found by a Transit Authority maintenance man at about 11 A.M. [New York Times] Dame Agatha Christie, the British writer of mystery stories and creator of two of the most famous sleuths in detective fiction -- Jane Marple and Hercule Poirot -- died at her home in Wallingford, England. She was 85 years old. She had been writing since 1920. [New York Times] In its first comprehensive report on the state of individual health, the government has concluded that Americans are generally healthy, but they consume too much alcohol and tobacco, do not exercise enough, and their diet is inadequate. "The report shows considerable achievement as well as need for improvement," Dr. Theodore Cooper, the Assistant Secretary for Health, said. ''The data suggest that much improvement in health status could come from individual action." [New York Times] The Supreme Court ruled unanimously that major portions of New York's fair campaign law are unconstitutional under the First Amendment -- including restraints on a candidate making a racial attack on another candidate, or the deliberate misrepresentations of an opponent's qualifications. The Court responded to challenges by three candidates for the New York state Assembly in 1974, each of whom was charged by an opponent with violating the state's fair campaign code. [New York Times] Despite vehement opposition by the United States, the United Nations Security Council began its debate on the Middle East by voting overwhelmingly to allow the Palestine Liberation Organization to participate with the rights of a member state. The vote was 11 to 1 in favor in seating the P. L. O. Only the United States voted no. Three nations, Britain, France and Italy, abstained. Egypt, Jordan, Syria, Qatar and the United Arab Emirates were also allowed to sit in the chamber, without objection. [New York Times] Despite a division of opinion, the heads of state of the 46 members of the Organization of African Unity adjourned their special session deferring any definitive action on the Angolan civil war. The meeting in Addis Ababa had been deadlocked on the issue of recognizing one of the rival governments in Angola or calling for a government of national unity. [New York Times] Thailand's coalition cabinet collapsed with the resignation of Prime Minister Kukrit Pramoj, who blamed the opposition for "pressuring the government." King Phumiphol Aduldet dissolved Parliament and called for new national elections in April. The Prime Minister agreed to stay on as a caretaker until the elections were held. He appealed to the nation in a radio and television address for calm. It appeared that a special session of Parliament, which was to have been held soon, would have voted no confidence in the Kukrit government. [New York Times] Following a wave of religious killings in Northern Ireland, the British government will bring together Roman Catholic and Protestant politicians in another attempt to work out a political settlement for the province. Merlyn Rees, the British administrator for Northern Ireland, made it clear in the House of Commons that the government was hopeful that an agreement could he reached. Others in Britain and Northern Ireland were not optimistic. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 922.39 (+11.26, +1.24%)
S&P Composite: 96.33 (+1.38, +1.45%)
Arms Index: 0.56

	Issues	Volume*
Advances	1,190	23.98
Declines	362	4.09
Unchanged	366	2.37
Total Volume		30.44

* 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*
January 9, 1976	911.13	94.95	26.51
January 8, 1976	907.98	94.58	29.03
January 7, 1976	898.69	93.95	33.17
January 6, 1976	890.82	93.53	31.27
January 5, 1976	877.83	92.58	21.96
January 2, 1976	858.71	90.90	10.30
December 31, 1975	852.41	90.19	16.97
December 30, 1975	852.41	89.77	16.04
December 29, 1975	856.66	90.13	17.07
December 26, 1975	859.81	90.25	10.02