News stories from Friday February 25, 1977

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

All United States citizens in Uganda -- whose number is estimated at 200 -- mainly missionaries, some businessmen and the crews of President Idi Amin's several airplanes, were ordered by President Amin to meet with him in Kampala on Monday. The Americans will not be permitted to leave the country before then. President Amin also sent a long message to President Carter suggesting that the United states deal with its own human rights problems before commenting on Uganda's affairs. He warned that Uganda forces would crush any attempt by the United States to rescue its citizens, accused the Central Intelligence Agency of plotting against him and expressed the hope that he could visit the United States soon. [New York Times] President Carter took steps to prevent the situation of the Americans in Uganda from worsening. He conferred with Zbigniew Brzezinski, the National Security Affairs adviser, Secretary of State Cyrus Vance, and Andrew Young, the United States representative at the United Nations. A message sent through diplomatic channels to President Amin said that the United States would not tolerate an attempt to use the Americans in Uganda as hostages. [New York Times] President Carter has told congressional leaders that he had sought to persuade the Washington Post not to disclose payments by the Central Intelligence Agency to King Hussein of Jordan. The President thus confirmed the payments, which he has declined to do publicly. He said the King was "our most reliable" source of information in the Middle East. [New York Times] Daniel Inouye, chairman of the Senate Intelligence Committee, has authorized the Federal Bureau of Investigation to selectively monitor and watch the contacts of the committee's members and staff, sources in the Senate said. Senator Inouye acknowledged at a committee meeting Wednesday that he ordered the monitoring of several Senators, the sources said. He also disclosed the monitoring, the sources said, at a meeting on Tuesday with congressional leaders and President Carter. But this afternoon, Mr. Inouye denied that surveillance had had been conducted. [New York Times] "Unprecedented" was the way a White House news release described financial disclosure statements of 15 cabinet-level officials. The statements list financial holdings and indicate corporate affiliations but do not disclose a net worth figure. [New York Times] Leonard Woodcock, president of the United Auto Workers, will head a presidential commission that will go to Vietnam in mid-March to try to get a full report on the 1,900 Americans still unaccounted for there. A spokesman for the State Department, which made the announcement, said that it was hoped that a similar mission would he sent to Laos, where the fate of 560 Americans is still unknown. [New York Times] A former supervisor of the Internal Revenue Service has been convicted of taking trips paid for by the Gulf Oil Corporation. Cyril Niederberger was found guilty of six of the 10 counts on which he was charged, two involving violations of the Internal Revenue Code and four the United States Criminal Code. The company and two aides may also be targets of indictments. [New York Times] Gas producers failed to bring to market proven reserves in the Gulf of Mexico that would have been equal to much of this winter's cutbacks to consumers, according to a private report commissioned by leading gas utilities. The report said that of 105 offshore Louisiana leases that had been held by producers for at least five years, only a third, or 35, had been brought to production even though all had been classified producable by the United States Geological Survey. [New York Times] William Walker, a white police officer accused of killing a 22-year-old black man on April 9, 1973, in Brooklyn and leaving his own toy pistol beside the body to bolster a claim of self-defense, was acquitted of a murder charge by an all-white jury. He was the second white police officer recently acquitted of killing with intent to murder a black man. [New York Times] A replacement for Roderick Hills, chairman of the Securities and Exchange Commission who is leaving in mid-March, has apparently been narrowed by the Carter administration to two choices. They are Harold Williams, dean of the Graduate School of Management at the University of California, Los Angeles, and Peter Solomon, managing partner of Lehman Brothers. [New York Times] The discovery for the first time of the complete genetic structure of a living organism was reported by British scientists at the Laboratory of Molecular Biology at Cambridge. They said that the most important aspect of their work was to disprove one of the fundamental tenets of modern genetics -- that each gene, controlling agent for all inherited characteristics, carried the code for reproduction of only one type of protein molecule. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 933.43 (+0.83, +0.09%)
S&P Composite: 99.48 (-0.12, -0.12%)
Arms Index: 0.89

	Issues	Volume*
Advances	555	6.17
Declines	841	8.36
Unchanged	478	3.08
Total Volume		17.61

* 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*
February 24, 1977	932.60	99.60	19.73
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