News stories from Wednesday February 13, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Seeking to free the American hostages in Iran, President Carter signaled his approval of a "carefully defined" international commission of inquiry into Iranian grievances. At a news conference, the President said he had noted "some positive signs" recently from Iran, but he warned against "excessive optimism," and other administration officials said there was no agreement yet on a formula for releasing the captives.
A plan for the release of the Americans held in Teheran has been approved by Ayatollah Khomeini, President Abol-hassan Bani-Sadr said. He and other Iranian officials withheld details of the proposals, but they expressed new confidence that the crisis over the occupation of the American Embassy was moving toward a settlement. Hope rose for release of the hostages as diplomats at the United Nations said that Washington and Teheran appeared to have significantly narrowed their differences.
[New York Times] - The Winter Olympics opened formally at Lake Placid, N.Y., with a blaze of color and optimistic rhetoric. Athletes of 37 countries assembled before a crowd of 23,000 and heard the opening announced by Vice President Mondale. The Taiwan delegation, denied the right to appear as the Republic of China, did not participate. [New York Times]
- The federal bribery inquiry by the F.B.I. began with the recovery in 1978 of two paintings stolen 14 years ago from a New York art dealer. New information was provided by court papers in the case and other sources. A federal agent apparently posed as an Arab sheik willing to buy stolen art, and the ruse was so successful that it was used in the investigation of alleged corruption involving members of Congress and other public officials.
John M. Murphy defended himself at a news conference. The Democratic Representative from New York City said that chance had led him to a Georgetown house used by federal agents in the political corruption inquiry and he insisted that he had nothing to do with any transaction that may have occurred there. Meanwhile, the House Ethics Committee appointed E. Barrett Prettyman, a leading lawyer, to investigate the allegations against seven Representatives, including Mr. Murphy.
[New York Times] - Bob Dole said he was withdrawing from the Republican presidential primary in Puerto Rico, to be held on Sunday, and backing Senator Howard Baker there. The announcement makes it more likely that Senator Dole will abandon his campaign if the results from the New Hampshire primary on Feb. 26 do not give him substantial encouragement. [New York Times]
- The Ford Pinto trial heard testimony by a witness for the Ford Motor Company that the 1973 car that is the focal point of the case lacked a gasoline-tank cap and had stopped before it was hit in the rear by a van and burst into flames. Three young women were killed as a result of the 1978 accident. [New York Times]
- Mike Monroney died at the age of 77 after a long illness. The former Democratic Senator from Oklahoma had served 30 years in the House and Senate, where he spearheaded major congressional reforms. [New York Times]
- A new dispute over a dam in Tennessee is gaining momentum. At issue is the Columbia Dam, a huge, half-completed structure. Opponents contend that the project would eradicate farmland and Indian archeological sites and threaten several types of mussels -- an endangered species -- and one of the state's last free-flowing rivers. They also charge that the costly project would benefit relatively few commercial interests. [New York Times]
- An explosion of nuclear wastes that occurred in the winter of 1957-58 in the Soviet region of the Urals has been analyzed by scientists at the Oak Ridge National Laboratory in Tennessee. The study concludes that an area that may have been up to several hundred square miles was contaminated. [New York Times]
- Egypt is training some Afghan rebels and will send them back to Afghanistan with arms to fight the Soviet-backed government, the Egyptian Defense Minister disclosed. He declined to say how many rebels were in Egypt, the location of the camps where they were being trained and what they were being trained to do. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 903.84 (+4.86, +0.54%)
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* |
| February 12, 1980 | 898.98 | 117.90 | 48.08 |
| February 11, 1980 | 889.59 | 117.12 | 58.66 |
| February 8, 1980 | 895.73 | 117.95 | 57.86 |
| February 7, 1980 | 885.49 | 116.28 | 57.69 |
| February 6, 1980 | 881.83 | 115.72 | 51.95 |
| February 5, 1980 | 876.62 | 114.66 | 41.87 |
| February 4, 1980 | 875.09 | 114.37 | 43.06 |
| February 1, 1980 | 881.48 | 115.12 | 46.65 |
| January 31, 1980 | 875.85 | 114.16 | 65.89 |
| January 30, 1980 | 881.91 | 115.20 | 51.17 |