News stories from Wednesday June 9, 1976

Summaries of the stories the major media outlets considered to be of particular importance on this date:

Jimmy Carter appeared assured of a first-ballot victory at the Democratic convention as opposition to his candidacy crumbled. Endorsements came from Mayor Richard Daley of Chicago and Gov. George Wallace of Alabama. Senator Henry Jackson of Washington promised support, Senator Edward Kennedy of Massachusetts said he expected his nomination, and Senator Hubert Humphrey of Minnesota called off his plan for an active drive if Mr. Carter failed in the final primaries. On the Republican side, President Ford seemed to have a stronger bargaining position as well as 93-delegate lead over his challenger Ronald Reagan; and Melvin Laird, a Ford strategist, told Washington reporters, "it's all over." [New York Times] A survey of Republican voters in the California, Ohio and New Jersey primaries indicated many would vote for Mr. Carter in November if their preferred Republican candidate, whether President Ford or Ronald Reagan, failed to get the nomination. About 35 percent of those questioned indicated this readiness to defect, even higher than the Republican defection rate of 20 percent in 1964 to vote Democratic rather than support Senator Barry Goldwater. [New York Times] Mr. Carter, at home in Georgia, sought to discourage speculation on his possible choice of a vice-presidential running mate. He said that he would almost certainly withhold an announcement until after he had been nominated, adding that today's endorsements left him free to choose without regard to politics or delegates. He said geographical or other balance would he of very remote importance. [New York Times] A Rand Corporation national follow-up study of a sample of 1,340 alcoholics showed that 18 months after entering treatment, 70 percent were no longer drinking abusively though only 10 percent were abstinent. Most had adopted a pattern of "normal" drinking, averaging one drink a day, usually consumed as the alcoholic equivalent of four beers once every three days. [New York Times] The Blue Cross Association has ordered a feasibility study on comprehensive non-hospital treatment of alcoholism, which afflicts an estimated 9 million Americans, as a health problem that could be covered for subscribers to its services. [New York Times] James Farley, organizer of President Franklin D. Roosevelt's elections and former Postmaster General, died at 88 in his Waldorf-Astoria Hotel suite. [New York Times] Syria agreed to the stationing of some troops from other Arab countries in Lebanon to help establish a durable peace. The announcement in Damascus followed a meeting of President Hafez al-Assad with Arab League representatives who had pressed him to withdraw all Syrian troops, to which he did not agree. Later Syria and 19 other Arab League countries decided in Cairo to put a token peace-keeping force, including Syrian troops, in Lebanon to replace the large Syrian force. [New York Times] Reports from Beirut said Syrian armor had halted in the mountains east of the Lebanese capital. Cease-fire negotiations were reportedly being conducted by two Arab mediators, Libya's Prime Minister and Algeria's Minister of Education, meeting with Syrian and Palestinian leaders. [New York Times] Spain's Parliament approved a bill to legalize political parties, forbidden since 1939. The government will still have the power to reject a party and has indicated it would bar the Communists. [New York Times] Dame Sybil Thorndike, Britain's pre-eminent actress, whose career began in the Edwardian era, died at the age of 93 in London. Her last stage role was six years ago, her last public appearance this year at the closing of the Old Vic Theater. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 958.09 (-1.88, -0.20%)
S&P Composite: 98.74 (-0.06, -0.06%)
Arms Index: 0.80

	Issues	Volume*
Advances	664	6.74
Declines	640	5.17
Unchanged	504	2.65
Total Volume		14.56

* in millions of shares

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*
June 8, 1976	959.97	98.80	16.65
June 7, 1976	958.09	98.63	14.51
June 4, 1976	963.90	99.15	15.96
June 3, 1976	973.80	100.13	18.90
June 2, 1976	975.93	100.22	16.12
June 1, 1976	973.13	99.85	13.88
May 28, 1976	975.23	100.18	16.86
May 27, 1976	965.57	99.38	15.31
May 26, 1976	968.63	99.34	16.75
May 25, 1976	971.69	99.49	18.77