News stories from Wednesday March 17, 1976

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

Late tabulations in the Illinois Democratic delegate selection primary showed surprising strength for Jimmy Carter with 53 delegates, compared with 85 for Senator Adlai Stevenson III (a stand-in for Mayor Richard Daley of Chicago), 6 for Senator Hubert Humphrey of Minnesota; 4 for Gov. Daniel Walker, who lost his renomination bid; 3 for Gov. George Wallace of Alabama, and 18 uncommitted. In the Republican contest, President Ford was leading In 70 races and Ronald Reagan in 13, with 13 delegates uncommitted. [New York Times] Interviews with Illinois primary voters taken by the New York Times-CBS News poll show that Mr. Carter won a remarkably solid victory among all types of voters but left doubt about how he would have fared against sterner competition. He received half the votes of those who said they would have preferred Senator Henry Jackson and 38 percent of those favoring Representative Morris Udall. [New York Times] Governor Wallace and his aides are showing signs of desperation and retrenchment after major primary defeats in Florida and Illinois and the possibility of a third in North Carolina. [New York Times] Catherine Hearst, final defense witness in the trial of her daughter Patricia for bank robbery, said she was a warm and loving girl, if strong-willed. [New York Times] Prof. Allen Weinstein of Smith College, whose suit brought the release of Federal Bureau of Investigation files in the case of Alger Hiss, has concluded that the former high State Department official had lied for nearly 30 years about his relations with Whittaker Chambers, a confessed Soviet agent. His comment was in a review of a new book, "Alger Hiss: The True Story," by John Chabot Smith, who says he did not give documents to Mr. Chambers. [New York Times] The New Jersey Supreme Court unanimously ordered a new trial for Rubin (Hurricane) Carter and John Artis, convicted nine years ago of a triple murder and sentenced to life prison terms. It found that the Passaic County prosecutor's office had "substantially prejudiced" a fair trial by concealing evidence. [New York Times] Senator William Proxmire has received from Rockwell International, a major defense contractor, a list of 39 military and civilian officials entertained at its hunting lodge in Chesapeake Bay. Among them were Adm. Thomas Moorer, then Chairman of the Joint Chiefs of Staff, and Vice Adm. Vincent de Poix, then director of the Defense Intelligence Agency. [New York Times] The Ford administration offered a plan to encourage investment in stocks and other property by lowering taxes on the proceeds. William Simon, the Treasury Secretary, told the Senate Finance Committee he opposed any legislation ending paper losses from oil and gas drilling investments as a shelter from federal taxes. [New York Times] High-ranking Washington officials said Soviet and American negotiators were close to completing a treaty setting limits on peaceful nuclear explosions. Duration of the treaty, magnitude of allowable explosions and the number of on-site inspections remain open but the United States hopes to complete the treaty by March 31. [New York Times] President Ford told members of the Conference of Presidents of Major American Jewish Organizations that he was determined to proceed with plans to sell Egypt six C-130 military transport planes, lifting the military embargo. He was said to have stressed that President Anwar Sadat was courageous in moving Egypt away from the Soviet Union toward the West and that America would still support Israel. [New York Times] Five cabinet members announced their candidacies to succeed Harold Wilson as Labor Party leader and Prime Minister of Britain. They are Foreign Secretary James Callaghan, the apparent favorite; Home Secretary Roy Jenkins and Anthony Crosland, Employment Secretary, of the party's right; and Anthony Wedgwood Benn, Energy Secretary, and Michael Foot, Employment Secretary, on the left. Denis Healey, the Chancellor of the Exchequer, withheld decision on seeking the posts. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 985.99 (+2.52, +0.26%)
S&P Composite: 100.86 (-0.06, -0.06%)
Arms Index: 0.99

	Issues	Volume*
Advances	786	11.97
Declines	639	9.64
Unchanged	452	4.58
Total Volume		26.19

* 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 16, 1976	983.47	100.92	22.78
March 15, 1976	974.50	99.80	19.57
March 12, 1976	987.64	100.86	26.02
March 11, 1976	1003.31	101.89	27.30
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