News stories from Friday September 10, 1976

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

Six hijackers diverted a New York-to-Chicago flight with 92 persons aboard to Montreal and said they wanted to go to Europe. They forced the pilot of the T.W.A. jet to relay a message that sent New York City police to a bomb in a locker here. One police officer was killed and three were injured when the bomb later went off. [New York Times] Two airliners collided over Yugoslavia killing all 176 persons aboard. One of the planes was British and carried 54 passengers and nine crew members. The other was Yugoslav and was thought to be carrying mostly West German tourists. The planes collided at about 30,000 feet, scattering wreckage over a wide area near the city of Zagreb. [New York Times] President Ford's abortion stand "encouraged" a group of Roman Catholic prelates who met with him, but they were not "totally satisfied" with Mr. Ford's support of a constitutional amendment permitting state regulation of abortion. The reaction of the bishops, which stipulated that they were not endorsing Mr. Ford, was in contrast to their disappointment after meeting with Jimmy Carter last week. [New York Times] A plea to voters not to misjudge Jimmy Carter because of his region, accent or religion was made by Senator Mondale in a speech at Notre Dame. He said that John F. Kennedy had been suspect to many voters for those reasons during the 1960 campaign. [New York Times] Almost all cadets involved in the cheating scandal at West Point have been detected and punished, Army Secretary Martin Hoffmann said at a news conference. He said that 134 cadets had been found guilty or had resigned when accused of violating the academy's honor code. Eighty-five of the cadets who resigned, Mr. Hoffmann said, have expressed an interest in applying for readmission. [New York Times] A fair trial is impossible in Passaic County, a New Jersey judge said as he moved the retrial on murder charges of Rubin (Hurricane) Carter and John Artis to Hudson County. In another development, a witness whose recantation helped win a new trial for the two men, who are accused of killing three white men, said he was being pressured by the Passaic prosecutor's office to change his testimony. [New York Times] Wholesale prosecutions of F.B.I. agents who carried out burglaries will probably not be made by the Justice Department, which instead will focus on higher-ranking officials who knew of or approved the break-ins. A defense lawyer for 25 agents who carried out the burglaries said that 21 of his clients had been granted immunity or told their testimony was not needed. [New York Times] Egypt's semi-official Middle East news agency reported that the leaders of Lebanon's warring factions will meet in Cairo to work for a solution to the Lebanese civil war. [CBS] Women are still regarded by some as curiosities in the church despite commitments made to women's equality by almost all major denominations. The percentage of women attending seminaries has increased from about 3 percent to 35 percent in the last decade, but many women still find themselves in the roles of assistant pastors while their male counterparts move on to higher-paying positions. [New York Times] Rioting continued in Capetown, South Africa, despite some concessions to mixed races by the government. The White House announced that Secretary of State Henry Kissinger will begin a shuttle diplomacy mission to Africa on Monday; he will visit Tanzania, Zambia and South Africa. [CBS] Possibly illegal payments of more than $25 million to promote its business and political interests overseas and in this country were reported to the S.E.C. by R.J. Reynolds Industries. Reynolds said $19 million of the total were "possibly illegal" checks made by its subsidiary. [New York Times] Stock prices moved in a narrow range in moderate trading, with the Dow Jones average closing up 1.49 points to 988.36. Commodity prices closed sharply lower with soybeans down 8 cents a bushel and wheat, oars and corn also dropping. [New York Times] The hijackers of a Indian Airlines jet released the remaining 71 hostages after holding them at the Lahore, Pakistan, airport; six had been released earlier. [CBS] The Bank of England raised its minimum lending rate to 13 percent in an attempt to shore up the pound as the threat of a seamen's strike in Britain increased. The union refused to call off the walkout set for tomorrow despite pleas from the government and labor leaders that a strike could bring about the fall of the Labor government. [New York Times] London newspapers repored that Britain's Prince Charles will marry commoner Davina Sheffield after his naval service ends next year. [CBS] Subdued people and mournful music appeared to be the main outward signs in China after the death of Mao Tse-tung. There were few tears or expressions of shock as the people spent the day preparing for the period of official mourning. The music alternated over public loudspeakers with the day-old announcement of the Chairman's death and of his funeral committee. [New York Times] A state visit to Belgrade by French President Giscard d'Estaing was postponed because of what the French said was President Tito's ill health. But in Belgrade, the President was reported to have spent the day hunting and meeting with Rumanian President Ceausescu. The illness may be more diplomatic than physical, diplomats said, because the French were upset by a call for a boycott of French goods by the non-aligned bloc, a group in which Yugoslavia is influential. [New York Times] The Pentagon was unaware for two years that the Grumman Aircraft Corporation had retained foreign sales agents to help it sell 80 F-14 jets to Iran. A Senate committee investigating foreign bribes and payoffs was told by military officials that the Defense Department learned of the agents in mid-1975. [New York Times] The Senate passed a bill to finance public works jobs that were created earlier by legislation passed over the President's veto. [CBS]

Stock Market Report

Dow Jones Industrial Average: 988.36 (+1.49, +0.15%)
S&P Composite: 104.65 (+0.25, +0.24%)
Arms Index: 0.61

	Issues	Volume*
Advances	778	9.50
Declines	592	4.43
Unchanged	496	3.00
Total Volume		16.93

* 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 9, 1976	986.87	104.40	16.54
September 8, 1976	992.94	104.94	19.75
September 7, 1976	996.59	105.03	16.31
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