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Thursday July 13, 1978
. . . where the 1970s live forever!

News stories from Thursday July 13, 1978


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

  • Plans for national health insurance will be outlined by the end of this month by President Carter, according to Dr. Peter Bourne, the President's special assistant for health affairs. Dr. Bourne said that the program would be instituted in phases, over a five-or six-year period starting in 1982 or 1983, and that it "conceivably may not be as comprehensive as some people would have liked." [New York Times]
  • More than 500 Indians and their supporters, on a protest march that began five months ago in San Francisco, prepared to break camp near Baltimore for the last leg of their 3,000-mile walk. They hope to draw thousands of supporters to a nine-day encampment on the Washington Monument. [New York Times]
  • An aid bill for New York City was agreed on by House and Senate conferees. The bill would provide the city with $1.65 billion in federal loan guarantees, the keystone of the city's plan to avert bankruptcy. Senator William Proxmire, who was instrumental in the compromise, said he expected the legislation to be passed by next week or before. [New York Times]
  • The ashes of John D. Rockefeller III were buried in the family cemetery near the Rockefeller compound at Pocantico Hills in Westchester following a memorial service at Riverside Church. [New York Times]
  • Two teenagers accused of attacking the figure skater Dick Button and five others in Central Park in New York City were described critically by their neighbors in Yorkville. Tenants in the East 89th Street walkup-home of one of the suspects, 17-year-old Nicholas Perri, indicated they feared and resented him. [New York Times]
  • An F.B.I. informer's claim he killed a black man in Alabama in 1963 while he was an informer may be supported by reports received by investigators, according to police sources. A former Ku Klux Klansman and a Klan sympathizer have said Gary Rowe had boasted of shooting blacks during a riot, the sources said. [New York Times]
  • Representative John Brademas, the House majority whip, accepted $2,950 from a foreign national when he was involved in drafting legislation to prohibit such contributions, the House ethics committee reported. Releasing more details of its investigation into the Korean influence buying scandal, the committee also criticized the House Speaker, Tip O'Neill, for being the guest of honor at two parties given by Tongsun Park. [New York Times]
  • Claiming an ocean-swim record, a retired 65-year-old banker reached the Florida Keys 33½ hours after he began swimming from Havana. Walter Poenisch said he was the first to swim between Cuba and the United States, but his claim was disputed. [New York Times]
  • Secretary of State Cyrus Vance and Foreign Minister Andrei Gromyko were unable to resolve two major obstacles to a new treaty to limit strategic arms, but they said "new ideas" discussed during two days of talks had provided a basis for a possible breakthrough later. At a news conference in Geneva, they seemed to go out of their way to put the best face on their meetings. [New York Times]
  • Aleksandr Ginzburg was sentenced in a Soviet court to eight years in a strict prison camp for "anti-Soviet agitation and propaganda." In two other trials of dissidents, a prosecutor asked for a 15-year-sentence, the harshest penalty under Soviet law short of execution, for Anatoly Sharansky; and in Lithuania, Viktoras Petkus was given a 10-year sentence, to be followed by five years of internal exile. [New York Times]
  • Andrew Young denied that he had meant to equate "the status of political freedom in the United States with that of the Soviet Union." Under attack for saying there were "political prisoners" in American as well as Soviet jails, the chief United States representative to the United Nations made his statement tersely at a Geneva press conference after lunching with Secretary of State Cyrus Vance, who was said to have been "very displeased" with Mr. Young's earlier remarks. [New York Times]
  • Unexpected Egyptian-Israeli talks took place in Austria as Israel's Defense Minister, Ezer Weizman, discussed peace prospects with President Anwar Sadat of Egypt and described the talks as "very useful." Mr. Weizman, who flew from Jerusalem for the meeting, declined to give details, saying he wanted first to report to Prime Minister Menachem Begin. [New York Times]
  • President Carter arrived in Bonn for a state visit to West Germany and a seven-nation economic summit meeting on problems facing the Western alliance and Japan. The schedule calls for two days of talks with Chancellor Helmut Schmidt of West Germany and then a two-day conference involving Mr. Carter, Mr. Schmidt and the leaders of Britain, France, Japan, Italy and Canada. [New York Times]
  • South African troops will leave South-West Africa only when a cease-fire has taken hold, the South African government said. Reacting warily to news that a Western plan for black majority rule in the territory had been accepted by nationalist guerrillas, the Pretoria government warned it would not accept any deviations from the proposals it had accepted previously. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 824.76 (-0.17, -0.02%)
S&P Composite: 96.25 (+0.01, +0.01%)
Arms Index: 0.80

IssuesVolume*
Advances69510.09
Declines7228.39
Unchanged4605.13
Total Volume23.61
* 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
DateDJIAS&PVolume*
July 12, 1978824.9396.2426.64
July 11, 1978821.2995.9327.47
July 10, 1978816.7995.2722.47
July 7, 1978812.4694.8923.49
July 6, 1978807.1794.3224.99
July 5, 1978805.7994.2723.74
July 3, 1978812.8995.0911.57
June 30, 1978818.9595.5318.11
June 29, 1978821.6495.5721.66
June 28, 1978819.9195.4023.27


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