News stories from Tuesday April 6, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Senator Henry Jackson took a decisive lead in the contest for New York's 274 delegates to the Democratic National Convention. Bunched up behind the Washington Senator were former Gov. Jimmy Carter of Georgia, Representative Morris Udall of Arizona and the uncommitted slates of the regular Democratic organizations, some of them supporters of Senator Hubert Humphrey of Minnesota. Mr. Udall had set his sights on second place to establish his claim as the liberal candidate. [New York Times]
- Mr. Udall and Mr. Carter were running virtually even in the Wisconsin Democratic primary's early voting, while President Ford defeated Ronald Reagan by a comfortable margin in the Republican contest. The lead held by Mr. Udall, who badly needed to win to maintain his viability as a candidate, was so narrow that it was impossible to predict a winner. Gov. George Wallace of Alabama and Senator Jackson were trailing far behind them. [New York Times]
- Mr. Carter said in South Bend, Ind., that the federal government should not take the initiative to change the "ethnic purity" of some urban neighborhoods or the economic "homogeneity" of well-to-do suburbs. If elected president, he said, he would not deliberately circumvent the "natural inclination of people to live in ethnically homogeneous neighborhoods." [New York Times]
- President Ford vetoed legislation to give the states $125 million to finance the upgrading of day care facilities. He said it would impose burdensome federal restrictions. The ability of Congress to override this veto is uncertain, and the House will not attempt it until after Easter. [New York Times]
- The United States Military Academy is investigating the possibility of a major cheating scandal. West Point officers confirmed that the cadet honor committee was conducting an investigation, but withheld details. Information came first from a man who telephoned the New York Times, identified himself as a cadet and said 114 cadets were being investigated for allegedly cheating on an electrical engineering test. An official said the final figure of those involved might be well under 100. [New York Times]
- William Hyland, state Attorney General of New Jersey, said he would not appeal the state Supreme Court's unanimous ruling authorizing the family of Karen Anne Quinlan to remove the respirator that has kept the comatose young woman alive for almost a year. There is still a possibility of appeals to the United States Supreme Court by St. Clare's Hospital in Denville or on behalf of her attending physicians. [New York Times]
- Three masked men disarmed two Wells Fargo guards in the basement of the New York Daily News Building and escaped with $851,000 in currency that was being taken to a Citibank branch in the building. The robbers left behind smaller bags of coins whose contents totaled $12,000. [New York Times]
- Britain's anti-inflationary course was confirmed by the new Prime Minister, James Callaghan, in the new budget aimed at reviving mills and factories. Public services and social welfare yielded their priority. Mr. Callaghan said the 30-year industrial decline must be reversed. The budget, presented by Chancellor of the Exchequer Denis Healey, projected a deficit of $12.56 billion. It offered new incentives to business and tax concessions to the public. The concessions are conditional on union acceptance of severe limitations on future wage increases. [New York Times]
- Trucks carrying thousands of people, most of them apparently militiamen, rolled through Peking as Chinese officials seemed to be preparing for the possibility of further violence. Another sign of concern was a front-page editorial in the Communist Party newspaper warning against further protests like those on Monday which included beatings, arson and an attempt to storm the Great Hall of the People. [New York Times]
- Secretary of State Henry Kissinger has asserted that if Communist governments were elected in Western Europe, the Atlantic alliance would be smashed and the United States isolated, according to a summary of his remarks to a meeting of American ambassadors in December. This summary, obtained by the New York Times, has also reached Senator James Buckley and, through him, other members of Congress. The original intent of the disclosure by some unknown official was apparently to provide ammunition for conservative politicians against Mr. Kissinger and ultimately against President Ford. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 1001.65 (-2.44, -0.24%)
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* |
| April 5, 1976 | 1004.09 | 103.51 | 21.94 |
| April 2, 1976 | 991.58 | 102.25 | 17.42 |
| April 1, 1976 | 994.10 | 102.24 | 17.91 |
| March 31, 1976 | 999.45 | 102.77 | 17.52 |
| March 30, 1976 | 992.13 | 102.01 | 17.93 |
| March 29, 1976 | 997.40 | 102.41 | 16.10 |
| March 26, 1976 | 1003.46 | 102.85 | 18.51 |
| March 25, 1976 | 1002.13 | 102.85 | 22.51 |
| March 24, 1976 | 1009.21 | 103.42 | 32.61 |
| March 23, 1976 | 995.43 | 102.24 | 22.45 |