News stories from Friday January 23, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Defense Department announced that 38 Pentagon officials, including 9 admirals and 17 Air Force generals, had been admonished for accepting entertainment at a Maryland hunting lodge maintained by the Northrop Corporation, a major defense contractor. Among those admonished were Eric Von Marbod, former Deputy Comptroller of the Defense Department and now special representative of the Secretary of Defense in Iran overseeing arms sales, the former inspectors general of both the Navy and the Marine Corps and the former deputy inspector of the Air Force, the present Deputy Chief of Naval Operations, and the Deputy Chief of Naval Operations for Air Warfare. Other large defense contractors were said to have entertained Defense officials and it has also been established that members of Congress were their guests. [New York Times]
- Senator Stuart Symington said that he and Richard Helms, the former director of Central Intelligence, had privately discussed covert operations in Chile and other "problems" Mr. Helms faced prior to his Senate confirmation hearings in 1973. He said "nothing could be further from the truth" that there was collusion between them about Mr. Helms' Senate testimony. Meanwhile, the Senate Select Committee on Intelligence voted to send evidence from its files to the Justice Department that was said to contradict Mr. Helms' replies to questions at his confirmation hearings about United States operations in Chile. [New York Times]
- Paul Robeson, the singer, actor and activist -- one of the most influential blacks this country has produced -- died in Philadelphia from what doctors called a severe cerebral vascular disorder. He was 77 years old and had been in retirement in recent years. [New York Times]
- In Washington, a high Treasury official told Congress that New York City was not meeting federal requirements for reforming its fiscal practices, and he issued a veiled warning that federal loans might be withheld if the situation was not improved. [New York Times]
- American officials said that the Soviet Union had proposed to the United States a new approach toward resolving the issues still holding up a treaty limiting each country's strategic bomber and missile forces. The Russians reportedly have offered a compromise to solve one of the most controversial problems -- whether to include the new Soviet bomber, known in the West as the Backfire, in their overall force of 2.400 agreed upon with the Americans in Vladivostok 14 months ago. [New York Times]
- A cease-fire negotiated by a Syrian civilian and military delegation, in which "all parties" were said to have agreed to a political solution of the crisis, appeared to be taking hold in Beirut despite scattered fighting and widespread lawlessness and looting in the capital. [New York Times]
- Under a new four-year agreement that will be signed by the United States and Spain in Madrid today, the United States, reportedly under Spanish pressure, will gradually remove submarines carrying atomic weapons from the Rota naval base in southern Spain before the agreement's termination date. The agreement -- actually a treaty -- will replace a five-year agreement that expired last September. [New York Times]
- Spain's strongly rightist Council of the Realm was said to be blocking a government proposal that would postpone parliamentary elections for a year to provide time to make changes leading to more representative elections. The council was said to have voted against the proposal in a secret session. The government was attempting to turn the vote around to avoid a constitutional crisis. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 953.95 (+10.47, +1.11%)
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 22, 1976 | 943.48 | 98.04 | 27.42 |
| January 21, 1976 | 946.24 | 98.24 | 34.47 |
| January 20, 1976 | 949.86 | 98.86 | 36.69 |
| January 19, 1976 | 943.72 | 98.32 | 29.45 |
| January 16, 1976 | 929.63 | 97.00 | 25.94 |
| January 15, 1976 | 924.51 | 96.61 | 38.45 |
| January 14, 1976 | 929.63 | 97.13 | 30.34 |
| January 13, 1976 | 912.94 | 95.57 | 34.53 |
| January 12, 1976 | 922.39 | 96.33 | 30.44 |
| January 9, 1976 | 911.13 | 94.95 | 26.51 |