News stories from Tuesday September 7, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Jimmy Carter said that he would have dismissed Clarence Kelley as F.B.I. director for accepting gifts and personal services from his staff. However, the Democratic candidate, after castigating President Ford for not dismissing Mr. Kelley, refused to say whether he would dismiss him if he is elected in November. [New York Times]
- Campaigning from the White House, President Ford signed two bills in front of television cameras. One granted compensation to victims of a flood caused by the collapse in June of a dam on the Teton River in Idaho. The other, which he called a better version of a bill he vetoed last April, delays federal standards for staffing day care centers until late 1977. [New York Times]
- The furor over Senator Dole's alleged acceptance of campaign gifts from Gulf Oil will soon "blow over," according to several of President Ford's campaign advisers. However, one adviser said the screening of Mr. Dole prior to his selection as President Ford's running mate had been hurried and had not gathered all the facts about the Gulf incident. [New York Times]
- Little Rock's Central High School was once the most notorious public school in the country and the site of strife pointed to by segregationists as proof that blacks and whites could not go to school together. Now the school is a model for those who believe that desegregation works. [New York Times]
- Ford Motor's new cars will be essentially the same size and weight as last year's models. The decision not to scale down the 1977 models was made because Ford officials felt there was still a market for big cars. Ford expects to profit from the decision by General Motors to make its 1977 line smaller. [New York Times]
- Plant and equipment investments by United States businesses have been increased, the Commerce Department said. The new pattern, though little changed from earlier surveys, is in line with other indicators pointing to increased economic activity toward the end of the year. [New York Times]
- Radioactive wastes may pose a major health hazard and their handling has been marred in a number of cases, according to a government study. A nuclear energy expert who prepared the report said that the 75 million gallons of high-level waste and 51 million cubic feet of low-level waste stored in nine sites across the country were a cause for concern. [New York Times]
- Rhodesian blacks remained divided after a meeting of leaders of five black African nations. The meeting had been called to seek a common strategy to achieve black rule in Rhodesia, South-West Africa and South Africa, but the rift between two Rhodesian groups became the main concern and produced frustration. [New York Times]
- Secretary of State Kissinger is expected to resume negotiations in southern Africa next week to try to find a formula for the peaceful ending of white minority rule in Rhodesia and South-West Africa. Mr. Kissinger said he had been invited to return to the area by President Julius Nyerere of Tanzania. Nyerere said he had not sent an Invitation but would welcome Mr. Kissinger anyway. [New York Times]
- Access to a MiG-25 would be regarded by Western intelligence experts as the greatest coup since the Russians shot down a U-2 16 years ago. The MiG-25, which was flown to Japan on Monday by a Soviet air force lieutenant, is said to be the fastest fighter in the world and one of the most advanced.
The pilot was granted U.S. political asylum.
[New York Times] - Israeli gunboats stopped an American oil-drilling vessel under contract to Egypt from looking for oil in the Gulf of Suez twice in four days. Israel contends the prospecting violates its territorial waters and exploits possible resources belonging to it. The ship was halted off a town controlled by Israel since the 1967 war. [New York Times]
- Profit curbs in Canada will be relaxed slightly to counter a lag in investments, Finance Minister Donald MacDonald announced. Under the new rules, companies will be permitted an extra investment credit if they are engaged in enterprises other than the distribution of products. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 996.59 (+7.48, +0.76%)
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 3, 1976 | 989.11 | 104.30 | 13.28 |
| September 2, 1976 | 984.79 | 103.92 | 18.92 |
| September 1, 1976 | 985.95 | 104.06 | 18.64 |
| August 31, 1976 | 973.74 | 102.91 | 15.48 |
| August 30, 1976 | 968.92 | 102.07 | 11.14 |
| August 27, 1976 | 963.93 | 101.48 | 12.12 |
| August 26, 1976 | 960.44 | 101.32 | 15.27 |
| 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 |