News stories from Tuesday September 24, 1974

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

Testifying before the Senate on his confirmation as Vice President, Nelson Rockefeller defended his role in the Attica prison revolt and explained his views on subjects ranging from school prayer to subsidies for mass transit. [New York Times] President Ford heralded a new government campaign to take professional criminals "out of circulation." He told the International Association of Chiefs of Police in his first "law and order" speech as President that the fight against violent crime was high on his agenda and that he had asked the Justice Department to join state and local agencies in a program to "target and keep track of professional criminals." [New York Times] Preparing for Friday's "summit meeting" on inflation, government officials say that 12 preliminary conferences and hundreds of hours of debate had confirmed their previous assessment: there are no quick cures for the country's economic ills. They acknowledge that the preparatory meetings produced few fresh and feasible ideas but insist that the "summit" conference will nonetheless help the President construct an effective program to fight inflation. [New York Times] The Senate Government Operations Committee voted unanimously for three pieces of legislation meant to maintain government custody of former President Richard Nixon's tapes and papers despite President Ford's promise to turn them over to Mr. Nixon. At the same time, two other congressional panels moved to inquire into Mr. Nixon's pardon and to endorse a subcommittee's action that cut in half the money asked for his transition to private life. [New York Times] Physicians at Memorial Hospital in Long Beach, Calif., have begun giving former President Nixon blood-thinning injections to prevent formation of new blood clots in the damaged veins of his leg and to help heal existing clots. [New York Times] The House of Representatives, ignoring the pleas of its own leaders and Secretary of State Kissinger, voted 307 to 90 to suspend military aid to Turkey until "substantial progress" is made toward a Cyprus settlement. The cutoff was appended to an otherwise routine measure and sent to the Senate, which last week urged President Ford to halt the aid to Turkey. [New York Times] Foreign Minister Jean Sauvagnargues of France, addressing the United Nations Correspondents Association, said delegates and world governments seemed "apprehensive about the implicit threats" contained in the latest American statements about the energy situation. He strongly warned against a confrontation between the oil-producing and oil-consuming countries. [New York Times] Foreign Minister Andrei Gromyko hailed detente when he addressed the General Assembly of the United Nations and declared that it had resulted in solid accomplishments. His statement was seen as a reflection of concern in Moscow about a continuation of the detente policy, started under Richard Nixon. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 654.10 (-9.62, -1.45%)
S&P Composite: 68.02 (-1.40, -2.02%)
Arms Index: 1.96

	Issues	Volume*
Advances	375	1.39
Declines	1,004	7.30
Unchanged	359	1.15
Total Volume		9.84

* 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*
September 23, 1974	663.72	69.42	12.13
September 20, 1974	670.76	70.14	16.25
September 19, 1974	674.05	70.09	17.00
September 18, 1974	651.91	67.72	11.76
September 17, 1974	648.78	67.38	13.73
September 16, 1974	639.78	66.26	18.37
September 13, 1974	627.19	65.20	16.07
September 12, 1974	641.74	66.71	16.92
September 11, 1974	654.72	68.55	11.82
September 10, 1974	658.17	69.24	11.98