News stories from Friday June 23, 1978

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

The civil rights movement won a major legal test. The Supreme Court, in a 5 to 4 decision, said that Arkansas had to pay lawyers' fees of prisoners who had successfully sued the state on the ground that the conditions of their imprisonment violated the Constitution. If Arkansas had won, the major way for financing public interest lawsuits would have been weakened. [New York Times] The full impact of Proposition 13 would be postponed a year under an accord by California legislative leaders. They agreed to distribute most of the state's $5 billion surplus to blunt the vote cutting local property taxes. [New York Times] Progress against tooth decay by using a strict dental hygiene program and an "artificial saliva" mouthwash were reported by a scientist. He is Dr. Erling Johansen, chairman of the department of dental research at the University of Rochester and a longtime specialist in dental decay problems. [New York Times] New Jersey cannot bar other states from dumping their waste inside its borders, the Supreme Court ruled. The Justices, dividing 7 to 2, overturned as unconstitutional interference with commerce a 1974 New Jersey law that prohibited importation of virtually all waste not headed for recycling or reprocessing facilities. [New York Times] Two planes nearly collided at high speed on a LaGuardia Airport runway Wednesday night after two traffic controllers radioed conflicting instructions, federal investigators said. They reported that the instructions had caused a jet airliner carrying 103 persons and a twin jet corporate plane with two men aboard to come within about five feet of each other.Air traffic controllers ended a work slowdown, at least temporarily. The month-long slowdown, which delayed flights and possibly endangered passengers' lives, was aimed at forcing the airlines to grant the federal employees a free overseas vacation flight each year. The controllers' union agreed after a suit brought by the carriers that it would accept a $100,000 penalty if an injunction against slowdowns was held valid. [New York Times] In a rebuke to Chile, the United States recalled its ambassador in Santiago. The State Department said the action resulted from the failure of the military government to cooperate satisfactorily in the investigation of the assassination in Washington in 1976 of Orlando Letelier, a former Chilean Ambassador and minister in Chilean cabinets. [New York Times] Twenty-nine Italian terrorists were sentenced to up to 15 years in prison after a 15-week trial in Turin. Sixteen defendants were acquitted. The maximum sentences were given to Renato Curcio, a leading founder of the Red Brigades, which abducted and killed former Prime Minister Aldo Moro, and to Pietro Bassi, an ideologist for the band that seeks to foment a Marxist revolution in Italy. [New York Times] A Turkish-Soviet accord was signed, pledging the two not to use force against any country or allow other nations to use their territory for "aggressive and subversive actions against other states." The accord evidently referred to American bases in Turkey, which are closed in retaliation for the American arms embargo. [New York Times] Seeking to revive peace talks, Secretary of State Cyrus Vance has proposed a meeting with the Egyptian and Israeli Foreign Ministers in London next month, officials in Washington said. Before such talks, it was announced, Vice President Mondale will meet President Anwar Sadat of Egypt on his way home from a previously scheduled trip to Israel. [New York Times] Zbigniew Brzezinski was defended by President Carter, who accused unnamed "special-interest groups" of making his national security adviser the "scapegoat" of administration foreign policy. Speaking in Fort Worth, Mr. Carter said it was "not fair" for the Russians and Cubans to attack Mr. Brzezinski "when I am the one who shapes the policy after getting advice from him and others." [New York Times] The adoption of foreign babies by American couples has sharply increased and is posing problems for some families. Couples say that the adopted babies have often received inadequate medical care and sometimes suffer from critical ailments. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 823.02 (-4.68, -0.57%)
S&P Composite: 95.85 (-0.39, -0.41%)
Arms Index: 0.79

	Issues	Volume*
Advances	699	13.24
Declines	747	11.23
Unchanged	442	4.06
Total Volume		28.53

* 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 22, 1978	827.70	96.24	27.17
June 21, 1978	824.93	96.01	29.11
June 20, 1978	830.04	96.51	27.92
June 19, 1978	838.62	97.49	25.50
June 16, 1978	836.97	97.42	27.70
June 15, 1978	844.25	98.34	29.28
June 14, 1978	854.56	99.48	37.29
June 13, 1978	856.98	99.57	30.76
June 12, 1978	856.72	99.55	29.34
June 9, 1978	859.23	99.93	32.47