News stories from Thursday March 11, 1976

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

Former President Richard Nixon said in a sworn statement replying to written interrogatories by the Senate Select Committee on Intelligence that he ordered the Central Intelligence Agency to try to keep Dr. Salvador Allende from becoming President of Chile in 1970, but that he did not recall knowing that the C.I.A. attempted to foment a military coup. Several of Mr. Nixon's statements on Chile contradicted the committee's findings in its interim report on Chile last year and appear to conflict with the sworn testimony of Secretary of State Henry Kissinger and Richard Helms, the former Director of Central Intelligence. [New York Times] For the first time in more than three years, the Dow Jones industrial average, the stock market's blue-chip barometer, closed above 1,000, adding luster to the nation's brightening economic outlook. The blue-chip average rose 8.03 points, closing at 1,003.31. It last closed above 1,000 -- a figure that Wall Street once considered "magical" -- on Jan. 26, 1973. [New York Times] The United States Postal Service announced a cutback in business deliveries in 24 Eastern and Southern cities, including midtown and downtown Manhattan, which is the only area in the country with three business deliveries daily. There now will be two-a-day delivery in the area between 59th Street and the Battery effective May 17, a Postal Service spokesman said. [New York Times] Ten present and former executives of five grain corporations were accused in a Senate hearing of having discussed fraudulent grain handling as part of normal business practices. The accusation was made by Jess Rosen, who said he had worked for all five companies and that he had been trained to cheat while working for the Continental Grain Company. [New York Times] Governor Carey signed a bill that had just been passed by the New York state Assembly that allows the names of Democratic presidential candidates to be listed on the state's April 6 primary ballot. The measure is expected to assist the chances of such comparatively low-budget candidates as Morris Udall and Jimmy Carter. [New York Times] The Port Authority of New York and New Jersey voted to ban flights of the Concorde supersonic airliner here after it was notified by British Airways and Air France that they intended to begin Concorde passenger service to Kennedy International Airport about April 10 and training flights next week. The Concorde will he banned, the authority said, until after an evaluation of at least six months of the plane's flights elsewhere, with emphasis on the effect of the plane's noise on communities near airports. [New York Times] The commander of the Beirut military garrison proclaimed himself military governor of Lebanon tonight and demanded the resignation of the President and the Prime Minister within 24 hours. The demands were made in an unexpected appearance on national television by 52-year-old Gen. Abdel Aziz Ahdab, a Moslem who is known to be without distinct political opinions. He called on Parliament to meet and elect a new President in seven days. "I am not interested in power," General Ahdab said. "I do not believe in military rule and shall turn power over to the new President as soon as he is elected." [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1003.31 (+8.03, +0.81%)
S&P Composite: 101.89 (+0.95, +0.94%)
Arms Index: 0.53

	Issues	Volume*
Advances	902	17.69
Declines	574	5.98
Unchanged	392	3.63
Total Volume		27.30

* 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*
March 10, 1976	995.28	100.94	25.90
March 9, 1976	993.70	100.58	31.77
March 8, 1976	988.74	100.19	25.06
March 5, 1976	972.92	99.11	23.03
March 4, 1976	970.64	98.92	24.41
March 3, 1976	978.83	99.98	25.45
March 2, 1976	985.12	100.56	25.59
March 1, 1976	975.36	100.02	22.07
February 27, 1976	972.61	99.71	26.94
February 26, 1976	978.83	100.11	34.32