News stories from Tuesday December 30, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Investigators were reconstructing a locker area at La Guardia Airport's main terminal where a bomb killed 11 persons and injured about 75 Monday evening, but they appeared to lack a clue to bomber or motive. The Air Transport Association offered a $50,000 reward for information leading to the arrest and conviction of the person or persons responsible for the crime. [New York Times]
- Sargent Shriver's main drawing card in his drive for the Democratic presidential nomination is the "Kennedy connection" as a brother-in-law of President Kennedy. He is making full use of it, even if it costs him some votes. His strategy is to rebuild the successful 1960 coalition of ethnic groups and mainstream Democrats. His problems include his image as a second-class Kennedy and being slow in taking strong stands. [New York Times]
- The consortium of electric companies headed by Southern California Edison that is planning the controversial Kaiparowits coal-fired power plant in Utah announced a one year delay in preparatory work. It cited delays in regulatory approvals stemming from objections by environmental groups. These groups hailed the development, but suggested that the delay was essentially an economic matter. Most recent deferrals of expansion programs in the power industry have been attributed to lack of demand and capital. [New York Times]
- Chief Justice Warren Burger denied a last-minute petition by lawyers for the bulk mailing industry to block postage rate increases that become effective tomorrow. His action leaves intact the Court of Appeals plan for a later hearing on the legality of the new rates. Postal Service lawyers had argued that delay in the new rates would worsen the department's fiscal problems. The largest percentage increase is from 10 to 13 cents for first-class letters. [New York Times]
- Governor Carey [N.Y.] ordered a special inquiry into suggestions, which he called "despicable," by Maurice Nadjari that the Governor dismissed him as a special state prosecutor because he was investigating high figures in the Democratic Party. Mr. Carey said he was willing to testify publicly under oath to clear his name and reputation. He said there was no truth in the suggestions that he had attempted to block inquiries into allegedly improper or illegal deals by his close associates. The Governor also asked the State Attorney General, Louis Lefkowitz, to appoint immediately two officials who would in effect largely supersede Mr. Nadjari until he was replaced.
Some information in Mr. Nadjari's investigation into a possible connection between high Democratic officials and judicial corruption was obtained from court-sanctioned wiretaps, one of them in the office of Samuel DiFalco, the Manhattan Surrogate. Sources in Mr. Nadjari's office said some of the potentially damaging information obtained had been corroborated by direct statements from "independent witnesses." Sources in the offices of Governor Carey and Robert Morgenthau, the Manhattan District Attorney, gave little credence to Mr. Nadjari's claim that he was close to obtaining indictments.
[New York Times] - An independent investigative committee gave the Securities and Exchange Commission a detailed picture of the Gulf Oil Corporation's massive payments to politicians and candidates in the United States and abroad. It called the company's domestic contributions "shot through with illegality" and made public a "gray fund" for tips and presents to relatively low-level government personnel in South Korea and a "black fund" in Italy for payment to newspapers, editors and journalists. [New York Times]
- Fighting in the Angolan civil war is largely confined to contests for critical road junctions in remote areas. This makes it easy for the three warring factions to keep journalists away from all fronts. Their motive is presumably the desire to keep their outside support out of view. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 852.41 (-4.25, -0.50%)
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 29, 1975 | 856.66 | 90.13 | 17.07 |
| December 26, 1975 | 859.81 | 90.25 | 10.02 |
| December 24, 1975 | 851.94 | 89.46 | 11.15 |
| December 23, 1975 | 843.75 | 88.73 | 17.75 |
| December 22, 1975 | 838.63 | 88.14 | 15.34 |
| December 19, 1975 | 844.38 | 88.80 | 17.72 |
| December 18, 1975 | 852.09 | 89.43 | 18.04 |
| December 17, 1975 | 846.27 | 89.15 | 16.56 |
| December 16, 1975 | 844.30 | 88.93 | 18.35 |
| December 15, 1975 | 836.59 | 88.09 | 13.96 |