News stories from Tuesday June 15, 1976

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

The Democratic Party's platform committee adopted a platform that was praised by all factions of the party, which was apparently united for the first time in years. The document reflects the views of Jimmy Carter, the party's presumed presidential nominee, but it was endorsed by representatives of other Democrats who had sought the nomination. [New York Times] Jimmy Carter, in a long, expansive chat with reporters aboard his campaign plane, was the picture of confidence as he spoke about politics, people, prejudice and the presidency he firmly believes he will win. It would be a time of national healing and an era of social progress, he promised, and he said his campaign would include just such lofty commitments even if it cost him votes. [New York Times] The Senate Judiciary Committee decided to send to the floor a bill designed to break up 18 large oil companies into separate production, refining and marketing entities. The vote, which was 8 to 7, had been in doubt to the end, but it gave a psychological lift to the liberal Democratic sponsors of the measure. The bill's chances before the full Senate, however, remain uncertain. [New York Times] At least 16 letter bombs that have turned up in the mails throughout the country were described by the Director of the Federal Bureau of Investigation as follow-ups to extortion demands addressed to about 200 leading businessmen since last fall. The director, Clarence Kelley, said the sums demanded totaled "millions of dollars" with the threat of "terrorist tactics unless these demands were met." [New York Times] City council President Paul O'Dwyer was designated as the New York Democratic State Committee's candidate for United States Senator, but three others also qualified for a place on the September primary ballot. Along with Mr. O'Dwyer, Representative Bella Abzug, former United States Attorney General Ramsey Clark and Daniel Patrick Moynihan also qualified for the primary. [New York Times] Treasury Department officials have asked New York City to submit a new financial plan and obtain new labor agreements as a condition for further federal loans. The statement was viewed by city officials as strengthening their hands at the bargaining tables, where they are negotiating 67 new labor contracts that expire June 30, but as worsening their position with investors. The next federal loan for the city is scheduled for July. 2. [New York Times] The Chinese government announced that Chairman Mao Tse-tung was no longer receiving visiting foreign leaders. A spokesman for the Foreign Ministry said that the decision had been made by the Central Committee of the Communist Party, but he said that the chairman was still able to work despite his age of 82 years. [New York Times] Prime Minister Yitzhak Rabin warned that Israel's security and the stability of the entire Middle East would be jeopardized if the civil war in Lebanon ended with the Palestinians or the Syrians in control of the country. In a speech to Parliament, Mr. Rabin said the parties involved in Lebanon knew clearly at what point Israel would consider their activities intolerable. [New York Times] West Germany announced that Secretary of State Henry Kissinger and Prime Minister John Vorster of South Africa would meet in the countryside next week instead of in Hamburg as originally planned because the talks were vital and they needed a "secluded place." Mr. Kissinger was reportedly irritated, not at the shift of locale, but because the statement was in conflict with Washington's position that the meeting will be only exploratory. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 985.92 (-5.32, -0.54%)
S&P Composite: 101.46 (-0.49, -0.48%)
Arms Index: 1.10

	Issues	Volume*
Advances	582	6.02
Declines	794	9.04
Unchanged	491	3.38
Total Volume		18.44

* 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*
June 14, 1976	991.24	101.95	21.25
June 11, 1976	978.80	100.92	19.47
June 10, 1976	964.39	99.56	16.10
June 9, 1976	958.09	98.74	14.56
June 8, 1976	959.97	98.80	16.65
June 7, 1976	958.09	98.63	14.51
June 4, 1976	963.90	99.15	15.96
June 3, 1976	973.80	100.13	18.90
June 2, 1976	975.93	100.22	16.12
June 1, 1976	973.13	99.85	13.88