News stories from Monday November 13, 1978
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The most potent carcinogen ever found in the National Cancer Institute's animal test program is a chemical widely used as a gasoline additive and fumigant for crops. The substance is ethylene dibromide, also called EDB or 1,2-dibromoethane, and it is among nearly 300 chemicals thus far tested by the institute. Rats and mice fed large doses through tubes had an extremely high death rate. [New York Times]
- Defects in used cars would have to be disclosed by dealers under rules proposed by the staff of the Federal Trade Commission. The rules, which would also require dealers to state clearly what warranty protection is provided, are considered almost certain to be approved by the commission. [New York Times]
- Special interests are gaining increasing access to the government, as government increasingly intervenes in economic issues. While citizens' groups have tried to gain access, those groups account for only a small number of citizens. The rest are turned off by government abuses, and that paves the way for more abuses. [New York Times]
- The South's criminal justice system has defied three decades of reform efforts. Several studies show that the poor and blacks still receive disproportionately long sentences and occupy the largest parts of the region's populous death rows. The South continues to put more of its population in prison than the rest of the nation despite lower crime rates, and Southern prisons spend much less for each inmate than the national norm. [New York Times]
- A press freedom case will be decided by the Supreme Court, which agreed to rule whether a state can bar newspaper reporters and editors from publishing the name of a juvenile charged with a crime. The case involves two Charleston, W. Va., newspapers that published the name of a 14-year-old who had fatally shot a classmate in a junior high school corridor in the presence of at least seven witnesses. [New York Times]
- A curb on evictions in Atlantic City is to be proposed by the city's planning consultant, Angelos Demetriou. He said he would recommend that the resort city delay rezoning an area for casino-related development until new housing was found elsewhere in the city for present residents. [New York Times]
- Iranian oil production rose. The military government made major gains toward halting the two-week strike in the oilfields that has been a key weapon of the Shah's opponents, with most workers returning when threats were carried out to dismiss strikers and arrest their leaders if the walkout continued. [New York Times]
- Mideast peace talks slowed as the Egyptian and Israeli governments, urged by President Carter to show less stubbornness, studied the latest American proposal to resolve the issue on how closely their peace treaty is to be linked to negotiations on the Palestinian issue. President Sadat recalled the deputy head of the Egyptian delegation from Washington for consultations. Prime Minister Begin asked Foreign Minister Dayan to return home for a cabinet debate.
Palestinian guerrillas offered to end their conflict with Christians in Lebanon on the condition that the Christians halt cooperation with Israel.
[New York Times] - Racial tension is rising in Zambia amid a series of kidnappings and beatings of white farmers and a wave of anti-white hostility, because of Rhodesian bombing raids. The white victims, who have all been released, say their abductors were Rhodesian guerrillas. The Lusaka government appears hard pressed to control the 10,000 guerrillas, who outnumber Zambia's army. [New York Times]
- South Africa was warned in a vote by the United Nations Security Council that it might face punitive sanctions unless it agreed to U.N.-supervised elections in South-West Africa. The Council resolution was approved 10 to 0, with abstentions by the five Western nations. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 792.01 (-15.08, -1.87%)
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* |
| November 10, 1978 | 807.09 | 94.77 | 16.75 |
| November 9, 1978 | 803.97 | 94.42 | 23.33 |
| November 8, 1978 | 807.61 | 94.45 | 23.56 |
| November 7, 1978 | 800.07 | 93.85 | 25.32 |
| November 6, 1978 | 814.88 | 95.19 | 20.45 |
| November 3, 1978 | 823.11 | 96.18 | 25.99 |
| November 2, 1978 | 816.96 | 95.61 | 41.03 |
| November 1, 1978 | 827.79 | 96.85 | 50.45 |
| October 31, 1978 | 792.45 | 93.15 | 42.72 |
| October 30, 1978 | 811.85 | 95.06 | 59.48 |