News stories from Monday August 15, 1977
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Seeking bipartisan support for the two new Panama Canal treaties. President Carter obtained qualified endorsement from former Secretary of State Henry Kissinger and appealed by telephone to former President Gerald Ford. After a White House meeting, Mr. Kissinger indicated approval but said he would withhold unconditional backing until he had had further briefing by a negotiator and a member of the Joint Chiefs of Staff. Mr. Carter is sending Sol Linowitz, one of the negotiators, and Gen. George Brown, Chairman of the Joint Chiefs, to Vail, Colo., to brief Mr. Ford. [New York Times]
- David Berkowitz, identified by the police as the .44-caliber killer, said after his arrest that he had wounded an elderly Yonkers woman with a .45-caliber gun found in his apartment, according to court documents presented to the Brooklyn grand jury. He was indicted in New York state Supreme Court there for the murder of Stacy Moskowitz and the attempted murder of her escort, Robert Violante.
The arrest of Mr. Berkowitz in the "Son of Sam" case was touched off when a New York City detective called the Yonkers police and asked them to contact Mr. Berkowitz as a possible witness to the killing of Stacy Moskowitz because of the parking ticket on Mr. Berkowitz's car. The dispatcher who took the call was Wheat Carr, daughter of Sam Carr. She reportedly told the detective of her suspicions concerning Mr. Berkowitz and urged him to speak to two Yonkers patrolmen, who had been investigating Mr. Berkowitz.
[New York Times] - Tongsun Park's mentors in his alleged role as a covert Washington lobbyist for the South Korean government were Anna Chennault, long known in Washington as an advocate of the Nationalist Chinese government in Taiwan, and Thomas Corcoran, an influential lawyer since his years as a New Deal aide, according to associates of Mr. Park, His operation was said to have followed in the footsteps of the China Lobby in which both had been active. [New York Times]
- A search for a "knockout" drug was sponsored for six years by the Central Intelligence Agency, according to newly declassified records. Scientists were supposed to analyze spinal and other vital fluids from comatose and delirious patients to discover the causes of delirium and to develop new drugs and techniques to produce maximum levels of physical and emotional stress. Only vague results in humans are mentioned from the project, which ended in 1961 and which cost $531,960 in C.I.A. funds to a foundation in Washington. [New York Times]
- Stock prices were lifted by a spirited rally in computer and other glamour issues. The Dow Jones industrial average started down but snapped back to close at 874.13, up 3.03. [New York Times]
- Guns sounded in southern Lebanon on the first day of the Moslem fast of Ramadan coinciding with Christian observance of the Assumption of the Virgin. Except for two tiny Christian enclaves supplied by Israel, it is the only part of Lebanon where Palestinian guerrillas still roam freely. [New York Times]
- Leading Palestinian Arabs on the West Bank of the Jordan River expressed fears that Israel was moving to annex the area and that the step could end any chance that the drive for Arab-Israeli negotiations could lead to peace. This followed the Israeli government's announcement that it was extending a number of social services to the West Bank and the Gaza Strip. But Prime Minister Menachem Begin said the move was motivated solely to improve the lot of Arabs under Israeli rule and was not the beginning of annexation. An Arab lawyer in Jerusalem who was once in Jordan's cabinet said he was convinced Mr. Begin meant to establish Israeli rule in the territory. [New York Times]
- The Indian government arrested four men who had been high in former Prime Minister Indira Gandhi's government on charges of corruption. It was the most decisive move so far against her and came at a time when her public appearances and criticisms of the new government are causing speculation about a possible comeback. [New York Times]
- A $256 restricted round-trip fare between New York and London in the off-season was agreed on by the six scheduled airlines flying the route, effective Sept. 15 and subject to the approval of the airlines' home governments. The group also agreed to lower the excursion off-season round-trip fare from $350 to $299. The $256 fare would be limited to 5,800 seats a week with payment three weeks ahead or standby status. [New York Times]
- A new strain entered relations between the South African government and the country's largest business enterprise, the Anglo American Corporation of South Africa, when the government blocked a transaction that would have given the company control of the state-owned South African Manganese Amcor Ltd. This was seen as a rebuff to Harry Oppenheimer, who heads Anglo American and who has long opposed the country's racial policies. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 874.13 (+3.03, +0.35%)
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* |
| August 12, 1977 | 871.10 | 97.88 | 16.87 |
| August 11, 1977 | 877.43 | 98.16 | 21.74 |
| August 10, 1977 | 887.04 | 98.92 | 18.28 |
| August 9, 1977 | 879.42 | 98.05 | 19.90 |
| August 8, 1977 | 879.42 | 97.99 | 15.87 |
| August 5, 1977 | 888.69 | 98.76 | 19.94 |
| August 4, 1977 | 888.17 | 98.74 | 18.87 |
| August 3, 1977 | 886.00 | 98.37 | 21.17 |
| August 2, 1977 | 887.39 | 98.50 | 17.91 |
| August 1, 1977 | 891.81 | 99.12 | 17.92 |