News stories from Friday October 31, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- David Packard, chairman of President Ford's 1976 campaign finance committee, has resigned. He is a wealthy California conservative whose recruitment six months ago was considered a political coup. He had been an ally of Ronald Reagan. His resignation was the second in a month by a high Ford campaign official. A campaign official said that there had been "some differences" about Mr. Packard's preoccupation with amassing contributions of $1,000, the limit under the 1974 campaign reform law, from customary Republican contributors. "There was a feeling that the money wasn't coming fast enough," the official said. The campaign organization is seeking smaller contributions that would be matched by the maximum amount of government funds under the new law, which provides matching funds for only the first $250 of a donation. [New York Times]
- By a vote of 10 to 6, a House banking subcommittee approved legislation, resembling but more generous than the aid bill approved Thursday by the Senate Banking Committee, that would give New York City up to $7 billion in loan guarantees before or after a default. [New York Times]
- Secretary of State Kissinger told the House Intelligence Committee that during his more than six years as National Security adviser under two presidents, no covert intelligence operations had been undertaken by the United States without presidential approval. His testimony followed that of James Gardner, a former State Department aide, who told the committee Thursday that about 40 covert operations were approved by a four-man subcommittee of the National Security Council, whose members never held a formal meeting. Mr. Kissinger said that if Mr. Gardner had meant to imply that any of those operations had not been passed on personally by former President Nixon, he was "mistaken." [New York Times]
- Martha Moxley, the 15-year-old daughter of a Greenwich, Conn., business executive, was found bludgeoned to death in a clump of bushes 200 feet from her home in the exclusive Belle Haven section of Greenwich. The police said that the girl was last seen Thursday evening when she left the home of Thomas Skakel, a classmate, who is a nephew of Ethel Kennedy. [New York Times]
- On his first day as Spain's acting chief of state, Prince Juan Carlos de Borbon presided over a four-hour cabinet meeting that was mainly concerned with the worsening crisis in North Africa, where Algeria warned of war if Morocco continued her efforts to annex Spanish Sahara. Talks between Spain and Morocco over whether Spain would relinquish her dominion over Spanish Sahara were broken off. Meanwhile, a medical bulletin from Generalissimo Francisco Franco's physicians said that he had developed peritonitis, but that his coronary condition had improved. His vital signs were described as normal, and his "habitual lucidity" was being maintained, his doctors said. [New York Times]
- The United States and Egypt were reported to be close to an agreement in principle under which Egypt would purchase American nuclear fuel, technology and power reactors. High administration officials and congressional sources said that they expected a formal announcement on Wednesday when President Anwar Sadat of Egypt, completing a 10-day visit to the United States, addresses a joint session of Congress. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 836.04 (-3.38, -0.40%)
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* |
| October 30, 1975 | 839.42 | 89.31 | 15.08 |
| October 29, 1975 | 838.63 | 89.39 | 16.11 |
| October 28, 1975 | 851.46 | 90.51 | 17.06 |
| October 27, 1975 | 838.48 | 89.73 | 13.10 |
| October 24, 1975 | 840.52 | 89.83 | 18.12 |
| October 23, 1975 | 855.16 | 91.24 | 17.90 |
| October 22, 1975 | 849.57 | 90.71 | 16.06 |
| October 21, 1975 | 846.82 | 90.56 | 20.80 |
| October 20, 1975 | 842.25 | 89.82 | 13.25 |
| October 17, 1975 | 832.18 | 88.86 | 15.65 |