News stories from Wednesday March 10, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The victory by Jimmy Carter, former Governor of Georgia, in Florida's Democratic presidential primary Tuesday was seen as a reflection of a new, more moderate brand of politics emerging in the South and the massive influx of newcomers that is changing the social and economic composition of the state. [New York Times]
- Gov. George Wallace of Alabama said that a "phony health issue" had been instrumental in his second-place finish in the Florida Democratic primary. [New York Times]
- Ronald Reagan insisted that he would stay in the race for the presidency. The former California governor said in an interview that the Florida primary had proved that Republicans were deeply split and that nearly half the voters had refused to "rubber stamp" President Ford. [New York Times]
- A federal mine inspector issued three safety-violation notices in a section of a Kentucky mine less than 24 hours before 15 miners were killed in a methane gas explosion there. Two of the violations issued against the Scotia Coal Company mine were corrected within 30 minutes, according to records filed in the town of Whitesburg, but the third apparently still existed at the time of the blast. [New York Times]
- In 169 pages of sworn testimony, Richard Nixon said that he ordered a telephone wiretap program in 1969 to find news leaks, but that Henry Kissinger gave the Federal Bureau of Investigation the names of the original targets of the program. The former President's testimony appeared to conflict with sworn statements by Mr. Kissinger, now Secretary of State, in two major areas. Mr. Nixon's testimony was taken in a damage suit filed by one of the 17 persons wiretapped. It had somewhat the tone of a memoir.
In the long deposition, Mr. Nixon also renewed his contention that public disclosure in 1969 of the secret United States bombing of Cambodia had forced him to halt the bombing at the cost of countless American lives.
[New York Times] - Legislation that would change the present legal distinctions between husband and wife in divorce suits and mandate an "equitable division" of the assets of a marriage was introduced in the New York state legislature. A major revision proposed in the law would drop the concept that only a woman is eligible for support. [New York Times]
- Criminal charges that three major oil companies, Exxon, Gulf and Mobil, had violated New York state's antitrust law in advance of the 1973-74 oil crisis were dismissed by state Supreme Court Justice Burton Roberts. The companies had been accused of arranging to restrain competitive bidding on gasoline contracts with the state and New York City to drive up prices. [New York Times]
- Representatives of the British and French governments buttonholed surprised New Jersey legislators in the halls of the Trenton State House and on the Assembly floor for support of flights to this country by the Concorde supersonic jet transport. [New York Times]
- Many Moslem soldiers in Lebanon took over their barracks in open revolt against their commanders. The head of the army proclaimed a general amnesty for deserters in an effort to avert disintegration of the 18,000-member army. The army, one of the last institutions binding divided Lebanon, has been splitting recently along Moslem-Christian lines. [New York Times]
- The Ford administration agreed to study a proposal by Senate backers of Israel that would avoid a major congressional fight over opening a new military relationship with Egypt but would allow the sale of six C-130 military transports to Cairo. The compromise plan would allow the administration to fulfill a pledge to sell the planes, but it would be done through commercial, rather than Pentagon, channels. [New York Times]
- An Austrian industrialist who is the sole nominee to he the next president of Rotary International, the philanthropic and service organization, was accused of having been a Nazi party member and a stormtrooper during World War II. The charges were made against Wolfgang Wick, the industrialist, by the Anti-Defamation League of B'nai B'rith and by Simon Wiesenthal, head of the Jewish Documentation Center for Nazi War Crimes, in Vienna. [New York Times]
- In South Korea, the opposition party's latest presidential candidate and 10 other critics of the government of President Park Chung Hee have been arrested and charged with agitating to overthrow the regime. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 995.28 (+1.58, +0.16%)
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* |
| March 9, 1976 | 993.70 | 100.58 | 31.77 |
| March 8, 1976 | 988.74 | 100.19 | 25.06 |
| March 5, 1976 | 972.92 | 99.11 | 23.03 |
| March 4, 1976 | 970.64 | 98.92 | 24.41 |
| March 3, 1976 | 978.83 | 99.98 | 25.45 |
| March 2, 1976 | 985.12 | 100.56 | 25.59 |
| March 1, 1976 | 975.36 | 100.02 | 22.07 |
| February 27, 1976 | 972.61 | 99.71 | 26.94 |
| February 26, 1976 | 978.83 | 100.11 | 34.32 |
| February 25, 1976 | 994.57 | 101.69 | 34.68 |