News stories from Thursday August 26, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Ford and Carter campaign aides, who held a three-hour negotiating session, reported "substantial progress" toward an agreement on the schedule and format of the televised debates between the presidential candidates. The meeting was held under the auspices of the League of Women Voters, which is seeking to sponsor the debates. The two sides agreed to meet again under the league's sponsorship neat week, but neither was formally committed to the league's sponsorship, which is being considered by the Federal Election Commission. [New York Times]
- A day after he had promised as president to end embargoes on farm products "once and for all," Jimmy Carter said that under extreme circumstances, such as a domestic crop failure, he would not hesitate to forbid the sale of American crops to foreign nations. It was a qualification, he said, not an equivocation and he predicted that it would not serve as ammunition for the Republicans' criticism of him as being vague on campaign issues. But he was wrong. Senator Robert Dole, campaigning in Iowa, immediately took up the qualification as an issue and said that it was an example of the "unreliable flexibility" that voters should avoid. [New York Times]
- The death toll from the mysterious disease in Pennsylvania rose with the deaths of two persons who had attended the International Eucharistic Congress in Philadelphia earlier this month. [New York Times]
- The Commerce Department said that the United States had its biggest monthly trade deficit in almost two years last month, mainly because of increasing imports of petroleum. The country is running substantial trade deficits with Japan and with members of the Organization of Petroleum Exporting Countries. It is showing healthy trade surpluses with members of the European Economic Community and with developing countries that do not export oil. [New York Times]
- The General Motors Corporation presented the first of a new line of scaled-down automobiles designed to meet the demands of the age of scarce and expensive energy. The company's Buick division held a preview in Detroit of models that will be in showrooms in late September. The cars are noticeably shorter than their 1976 predecessors, from 9 to 15 inches. They also weigh less and some have smaller engines, making possible four more miles per gallon of gasoline, the company said. [New York Times]
- Prince Bernhard of the Netherlands resigned virtually all his military and business posts today after a Dutch government commission strongly criticized his "unacceptable" relationship with the Lockheed Aircraft Corporation. The commission spent six months investigating charges that the Prince had accepted bribes amounting to $1.1 million. It found no firm evidence that he had taken bribes, bit its report said that "he showed himself open to dishonorable requests and offers." [New York Times]
- The rampage of migrant Zulu workers in South Africa that left 21 dead this week was prompted by harassment by young black demonstrators seeking to enforce a three-day strike, but behind the conflict lay enmity of black for black, which has bedeviled South African blacks through their long struggle against apartheid. The divisions are mostly tribal, but they are also geographic, political and economic. [New York Times]
- Lotte Lehmann, who had been a leading operatic soprano and lieder singer, died in Santa Barbara, Calif., at the age of 88. Her career began in Hamburg, Germany, in 1910 and ended in New York in 1951, when she gave her last lieder recital and went into retirement. Of all her operatic roles. Wagnerian and others, she is perhaps best remembered as the Marschallin in "Der Rosenkavalier." [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 960.44 (-10.39, -1.07%)
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* |
| August 25, 1976 | 970.83 | 102.03 | 17.40 |
| August 24, 1976 | 962.93 | 101.27 | 16.74 |
| August 23, 1976 | 971.49 | 101.96 | 15.45 |
| August 20, 1976 | 974.07 | 102.37 | 14.92 |
| August 19, 1976 | 983.88 | 103.39 | 17.23 |
| August 18, 1976 | 995.01 | 104.56 | 17.15 |
| August 17, 1976 | 999.34 | 104.80 | 18.50 |
| August 16, 1976 | 992.77 | 104.43 | 16.21 |
| August 13, 1976 | 990.19 | 104.25 | 13.93 |
| August 12, 1976 | 987.12 | 104.22 | 15.56 |