News stories from Monday September 24, 1979

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

The Carter cabinet shift ended after two months with the installation of two former mayors, Moon Landrieu of New Orleans and Neil Goldschmidt of Portland, Ore. Mr. Landrieu took office as Secretary of Housing and Urban Development and Mr. Goldschmidt is Secretary of Transportation. [New York Times] An anti-nuclear protest was led by Jane Fonda and Tom Hayden, her husband, in front of the closed Three Mile Island power plant. The couple has begun a 32-day, 52-city tour in protesting against not only nuclear plants but also the policies of the Carter administration and what they termed "unbridled corporate power." [New York Times] A major TV Olympics bid is expected by organizers of the 1984 Summer Games. They say they plan to sell American television rights to the games this week for at least $200 million, plus an obligation by the bidder to pay for about $100 million in facilities and services to enable foreign broadcasters to transmit the Los Angeles games overseas. The bidders include ABC, CBS and NBC. [New York Times] A presidential visit to New York City Tuesday raised signals of potential political problems for Jimmy Carter. The scheduled six-hour visit marks an effort to begin shoring up his position in a state that is considered, even by Carter aides, a potential stronghold for Senator Edward Kennedy. [New York Times] A drive to retain Fort Dix gained increased backing by Clifford Alexander, Secretary of the Army, who, congressional and administration sources said, told Graham Claytor, the deputy defense secretary, that the Army would take no part in any Pentagon effort to close the Army training center in New Jersey. [New York Times] Two Soviet figure skaters defected to the West, the Swiss government announced. Lyudmila Belousova and Oleg Protopopov, a husband-and-wife team who twice won Olympic gold medals in the 1960's, were the fourth and fifth prominent Soviet performers to seek political asylum in little more than a month. [New York Times] Chicago patronage hiring was voided by a federal judge, who ruled its use by the city and Cook County was unconstitutional. The judge said the system had the effect of discriminating against independent political candidates. The decision may have wide implications in cities other than Chicago, where the practice is the base of the Democratic Party's power. The city's corporation counsel said that the judge had not yet specified a remedy and that it was not yet known what posts he might exempt from his ruling. [New York Times] Rhodesian rebels made a concession, formally agreeing to guarantee 20 percent of the seats in Parliament for the white minority under a new constitution. The decision, though made "under protest," prompted increased optimism at the British-sponsored conference in London on Zimbabwe Rhodesia. [New York Times] Syrian and Israeli jets clashed over Lebanon for the second time in three months, and both sides said four Syrian jets had been shot down. Israel said that its planes, escorted by American-made F-15's, were hunting for guerrilla bases and that all Israeli planes returned safely. Syria said the Israeli jets were attacking Palestinian refugee camps and that two Israeli planes had been downed. [New York Times] A firmer truce in southern Lebanon will be sought by Washington, Secretary of State Vance said in an address to the United Nations General Assembly. He gave no details of the new initiative, but aides suggested that he planned to sound out all parties to the dispute before presenting a program to resolve it. [New York Times] Asylum for a deposed African emperor was granted by the Ivory Coast, a former French colony, after he was denied political refuge in France. The Ivory Coast's leader indicated that the ousted emperor, who had crowned himself Bokassa I and who is accused of murder, would be safe from extradition to face prosecution by the new government of his homeland, once again known as the Central African Republic. [New York Times] Intensive Soviet spying at the U.N. has made a "very substantial" penetration into the Secretariat, according to Arkady Shevchenko, the Soviet diplomat who defected to the United States last year. United Nations officials declined comment on specific allegations, but condemned Mr. Shevchenko generally as a renegade. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 885.84 (-8.10, -0.91%)
S&P Composite: 109.61 (-0.86, -0.78%)
Arms Index: 1.03

	Issues	Volume*
Advances	475	9.24
Declines	1,043	20.82
Unchanged	383	3.73
Total Volume		33.79

* 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 21, 1979	893.94	110.47	52.38
September 20, 1979	893.69	110.51	45.10
September 19, 1979	876.45	108.28	35.37
September 18, 1979	874.15	108.00	38.75
September 17, 1979	881.31	108.84	37.61
September 14, 1979	879.10	108.76	42.01
September 13, 1979	870.73	107.85	35.24
September 12, 1979	870.90	107.82	39.35
September 11, 1979	869.71	107.51	42.54
September 10, 1979	876.88	108.17	33.00