News stories from Thursday July 29, 1976

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

The two remaining suspects in the kidnapping of school children in Chowchilla, Calif., were arrested, one in Vancouver, B.C., and the other on a freeway a few miles south of San Francisco. Frederick Woods was arrested in Vancouver by the Royal Canadian Mounted Police, acting on information provided by the Federal Bureau of Investigation. The other suspect, James Schoenfeld, was arrested in Atherton, Calif., near his family's home. His brother, Richard, alleged to be an accomplice in the kidnapping, surrendered last week and was arraigned on kidnapping charges today. [New York Times] Law enforcement sources said that an internal investigation was being made by the Federal Bureau of Investigation into allegations that dividends from the F.B.I.-administered life and medical insurance programs for its 19,000 present and former employees were used in part to pay for lavish dinners, vacations and gifts for the F.B.I. officials who were in charge of the insurance program over the last few. years. This is the sixth major investigation the F.B.I. has recently undertaken of its operations. [New York Times] President Ford's candidacy got additional support in the deep South with endorsements by Representative David Treen of Louisiana and two other uncommitted members of that state's convention delegation. The President was also gaining support in the potentially pivotal Mississippi delegation, but the endorsement by Clarke Reed, the state party chairman, still had not put a clear majority of delegates on Mr. Ford's side. The Pennsylvania delegation, which controls 103 crucial votes, had a meeting at the White House with the President. [New York Times] The House voted overwhelmingly, 381 to 3, to reprimand Representative Robert Sikes, Democrat of Florida, for financial misconduct. Mr. Sikes, chairman of the Military Construction Appropriations Subcommittee, offered no defense although he had been allotted 20 minutes to address the House. He told reporters that he had anticipated the vote "because of the atmosphere regarding public officials at this time." The reprimand was the lightest sanction that could have been taken. [New York Times] China mobilized civilians and the army to provide help for the victims of the earthquake that was said to have devastated the city of Tangshan, 95 miles east of Peking. Tangshan, which had a population of a million, was at the epicenter of Wednesday's earthquake. Many thousands of people are believed to have lost their lives. [New York Times] After nine days of talks in Damascus that were described as difficult, Syria and the Palestine Liberation Organization signed an agreement that might bring about another cease-fire in Lebanon. Among the agreement's principal provisions was a general cease-fire, but no withdrawal of Syrian troops, and a commitment by the Palestinians to respect Lebanon's sovereignty and to accept other restrictions on their activities in the country. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 979.29 (-2.04, -0.21%)
S&P Composite: 102.93 (-0.12, -0.12%)
Arms Index: 1.02

	Issues	Volume*
Advances	572	4.88
Declines	698	6.07
Unchanged	548	2.38
Total Volume		13.33

* 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*
July 28, 1976	981.33	103.05	16.00
July 27, 1976	984.13	103.48	15.58
July 26, 1976	991.51	104.07	13.53
July 23, 1976	990.91	104.06	15.87
July 22, 1976	991.08	103.93	15.60
July 21, 1976	989.44	103.82	18.35
July 20, 1976	988.29	103.72	18.61
July 19, 1976	990.83	104.29	18.20
July 16, 1976	993.21	104.68	20.45
July 15, 1976	997.46	105.20	20.40