News stories from Thursday February 24, 1977
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Unanswered questions about the assassination of the Rev. Dr. Martin Luther King Jr. are troubling Attorney General Griffin Bell. He said he might try to get answers in interviews with James Earl Ray, who was convicted of Dr. King's murder, But Mr. Bell said he would wait until the House Select Committee on Assassinations decided about continuing its inquiry. [New York Times]
- The cabinet-level Department of Energy proposed by the Carter administration would have broad powers over the leasing of public lands and energy production, which are now controlled by the Department of the Interior. The administration bill would also give the official who heads the agency sweeping authority over oil, gas, coal and energy conservation. [New York Times]
- Stock prices declined for the fifth consecutive day in slow trading, and the Dow Jones industrial average was at its lowest closing level in more than three months, down 5.65 points to 932.60. Declining stocks outnumbered rising ones by 2 to 1. The Treasury's new four-year notes that were auctioned Wednesday dipped an eighth of a point, and the Treasury 8's of 1986 -- star of the bond market's late 1976 surge -- traded more than 6 points below its early December high. New bond issues sold slowly. [New York Times]
- The late John Rosselli, the Mafia figure who testified before a Senate committee that he had participated in Central Intelligence Agency plots to kill Fidel Castro, was killed by members of the underworld as a direct result of his testimony, according to men known to have had knowledge of the circumstances leading to the murder. Their account has been supported by an extensive investigation by the New York Times. [New York Times]
- The federal money now available to states and municipalities for public works projects whose objective is to increase employment would be tripled under a bill approved by the House. The Senate approved a similar measure Wednesday. The House voted to give New York, Connecticut, New Jersey and other states with unusually high unemployment a much smaller proportion of the total grant money than the bill the Senate approved. [New York Times]
- The United States will reduce its aid to Argentina, Uruguay and Ethiopia because of human rights violations in those countries, Secretary of State Cyrus Vance said in presenting the Carter administration's foreign aid program to the Senate Appropriations Subcommittee on Foreign Operations. But, Mr. Vance said, there will be no cuts in aid to South Korea or to other strategically situated allies, no matter what human rights violations may exist in such countries, because security commitments were the overriding consideration. [New York Times]
- Saudi Arabia and three other Arab countries are reported to have agreed to give more than $1 billion in aid to Egypt this year, mainly to help close a trade deficit of $1.7 billion. The Arab allies have gradually been reducing their direct aid to Egypt in an attempt to force the country to live within its means. In 1975, they gave $2 billion and $1 billion in 1976. No aid was planned this year, but recent riots over price increases, which threatened the government of President Anwar Sadat, persuaded the Arab neighbors to change their minds. [New York Times]
- A small but efficient government force of mostly black troops led by white officers has confined the guerrilla warfare against Rhodesia's white government to the bushland. About half the insurgents infiltrating from neighboring black countries have been killed. Nevertheless there is now concern that the guerrilla attacks could spread into towns and cities. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 932.60 (-5.65, -0.60%)
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* |
| February 23, 1977 | 938.25 | 100.19 | 18.24 |
| February 22, 1977 | 939.91 | 100.49 | 17.73 |
| February 18, 1977 | 940.24 | 100.49 | 18.04 |
| February 17, 1977 | 943.73 | 100.92 | 19.04 |
| February 16, 1977 | 948.30 | 101.50 | 23.43 |
| February 15, 1977 | 944.32 | 101.04 | 21.62 |
| February 14, 1977 | 938.33 | 100.74 | 19.23 |
| February 11, 1977 | 931.52 | 100.22 | 20.51 |
| February 10, 1977 | 937.92 | 100.82 | 22.34 |
| February 9, 1977 | 933.84 | 100.73 | 23.64 |