News stories from Friday December 2, 1977

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

Employment rose markedly across the nation in November, but without changing significantly the high unemployment rate, which remains at about 7 percent of the total workforce. The Bureau of Labor Statistics said that the number of employed people increased by 950,000 last month, one of the largest monthly increases it has ever recorded. Experts wondered why the big monthly increase had not affected the total jobless rate. "The figures are very puzzling," said Julius Shiskin, the Commissioner of Labor Statistics. [New York Times] Attorney General Griffin Bell said that he had ordered an investigation into charges that one of his associates in the Department of Justice had attempted to influence the appointment of the United States Attorney in Pittsburgh. [New York Times] Stock prices closed only mixed in slower trading despite some encouraging economic reports. The Dow Jones industrial average declined 1.73 points to 828.98, but advancing issues on the New York Stock exchange outnumbered declining ones by a 7 to 6 ratio. [New York Times] Blacks in Bermuda rioted in protest against the British colony's first executions in 30 years. Following the executions, a curfew was imposed 6 P.M. to 6 A.M. indefinitely "to avoid," the Governor said, "a recurrence of the tragic events of the last 24 hours." The curfew also applies to tourists. Two men, both black, were hanged. They were Erskine Burrows, convicted of the murders in 1973 of Sir Richard Sharples, then Governor of Bermuda, and two supermarket executives, and Larry Tacklyn, who was convicted in the killing of the businessmen. [New York Times] Help for battered wives, and for women beaten by their boyfriends, is being sought in a growing effort by women's groups and other concerned people across the country. Shelters have been established to house victims, telephone "hot lines" provide advice, and pressure is being put on the police and courts to stop regarding wife-beating as "domestic trouble," which is usually ignored. There has been no increase in the actual incidence of abuse, but awareness of it has increased through the women's movement. [New York Times] A South African magistrate absolved the security police of any responsibility in the death of Stephen Biko, a black leader, who apparently died of injuries suffered while in detention. A few hours before the verdict was announced by Marthinus Prins, who had conducted the three-week inquest, the security police arrested Mr. Biko's brother Kayo, his cousin Solomon Biko, and a number of others involved in the "black consciousness" movement. Members of the Biko family said that at least 13 people had been arrested. Mr. Prins' verdict, delivered in only 3 minutes, accepted the police account of the events that led to Mr. Biko's death. The police had maintained that his injuries probably occurred in a scuffle that he had initiated.Shock was expressed by the State Department in Washington over Magistrate Prins' verdict in the Biko case. "We were shocked by the verdict in the face of compelling evidence at the least that Stephen Biko was he victim of flagrant neglect and official irresponsibility," Hodding Carter III, the department spokesman, said. He also expressed concern over the arrests of Biko's brother and cousin. [New York Times] Longstanding rivalries were put aside by Arab leaders opposed to Egypt's peace overture toward Israel at their meeting in Tripoli at which the groundwork is being prepared for a new front against President Anwar Sadat's policies. They were apparently divided on what action to take, but it was clear they were determined to impede a separate agreement. Representatives of Syria, Iraq, Algeria, South Yemen and the Palestine Liberation Organization have gathered in Tripoli, where the Libyan government is their host. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 823.98 (-1.73, -0.21%)
S&P Composite: 94.67 (-0.02, -0.02%)
Arms Index: 1.00

	Issues	Volume*
Advances	777	9.35
Declines	640	7.70
Unchanged	475	4.11
Total Volume		21.16

* 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*
December 1, 1977	825.71	94.69	24.22
November 30, 1977	829.70	94.83	22.67
November 29, 1977	827.27	94.55	22.95
November 28, 1977	839.57	96.04	21.57
November 25, 1977	844.42	96.69	17.91
November 23, 1977	843.30	96.49	29.15
November 22, 1977	842.52	96.09	28.30
November 21, 1977	836.11	95.25	20.11
November 18, 1977	835.76	95.33	23.93
November 17, 1977	831.86	95.16	25.11