News stories from Wednesday January 17, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The court-ordered investigation of Bert Lance has revealed loan arrangements with Jimmy Carter's family's peanut warehouse business. According to National Bank of Georgia records, the Carter warehouse was allowed to pay back a loan with checks for which there were insufficient funds.
The apparent reason for this privilege is said to be pressure from Bert Lance. Mr. Carter may have lacked knowledge of the checks at the time, but the investigators' report calls for the President to reimburse the bank for use of its plane, which was allowed by Lance.
[CBS] - Maryland's new Governor, Harry Hughes, was inaugurated without relenting in his disapproval of outgoing Governor Marvin Mandel, who is also a Democrat. In an address, Mr. Hughes pledged that his administration "will be different" in an era of "real change." [New York Times]
- Ayatollah Khomeini urged backers to continue their drive to bring down the Iranian government with demonstrations and strikes, but he asked them to preserve public order and win the support of the military for the Islamic republic he seeks to create. [New York Times]
- Fighting continued around the Cambodian port of Kompong Som between supporters of the Pol Pot government and Vietnam-backed rebels. [CBS]
- Physicians reported that more cancer has been found in the wake of actor John Wayne's recent surgery. Wayne's sons, Patrick and Michael, were present when the announcement was made by hospital administrator Bernard Strohm, who noted the potential for the cancer to spread. [NBC]
- Brooklyn waterfront boss Anthony Scotto, accused of taking kickbacks from shipping companies, was indicted in New York City. Scotto, an alleged member of the Gambino Mafia family and a power in the International Longshoremen's Association, appeared with then-candidate Jimmy Carter during the 1976 campaign. [NBC]
- The state of Tennessee took the unusual step of swearing-in governor-elect Lamar Alexander three days ahead of schedule. The action was taken because a federal prosecutor warned state officials that outgoing Governor Ray Blanton, who is under investigation by a grand jury for his role in a pardon/parole scandal, would free more prison inmates unless he was removed from office early.
Three of Blanton's aides were recently arrested on bribery charges.
[NBC]
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| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| January 16, 1979 | 835.59 | 99.46 | 30.34 |
| January 15, 1979 | 848.67 | 100.69 | 27.51 |
| January 12, 1979 | 836.28 | 99.93 | 37.12 |
| January 11, 1979 | 828.05 | 99.10 | 24.56 |
| January 10, 1979 | 824.93 | 98.77 | 24.97 |
| January 9, 1979 | 831.43 | 99.33 | 27.20 |
| January 8, 1979 | 828.14 | 98.80 | 21.44 |
| January 5, 1979 | 830.73 | 99.13 | 28.89 |
| January 4, 1979 | 826.14 | 98.58 | 33.31 |
| January 3, 1979 | 817.39 | 97.80 | 29.17 |