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Tuesday January 30, 1979
. . . where the 1970s live forever!

News stories from Tuesday January 30, 1979

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

  • President Carter's trim budget is generally supported by Americans as a way to curb inflation, but they also want to make exceptions for specific programs or tax breaks, the latest New York Times/CBS News national poll shows. Two out of three interviewed said a cut in federal spending was more important than a tax cut.

    President Carter's image of honesty and competence continues among Americans, but they believe he is not a strong leader, according to the New York Times/CBS News poll. The public was evenly divided in its appraisal of his presidency. [New York Times]

  • More funds for public broadcasting from Washington are sought, along with a federal commitment to a larger and more independent non-commercial system, by the Carnegie Commission on the Future of Public Broadcasting. In a comprehensive report, the panel also called for a new structure for public radio and television. [New York Times]
  • Ordination of women as rabbis was approved by a special commission of the Rabbinical Assembly, which represents Conservative Jews. If the decision is accepted by the faculty of the Jewish Theological Seminary this spring, qualified women could begin entering the seminary next fall. The Reform branch of Judaism already ordains women. [New York Times]
  • A legislator who gave campaign funds totaling $24,000 last fall to 10 members of a House committee was chosen chairman of an influential subcommittee of the panel. The victor was Representative Henry Waxman, a liberal California Democrat. [New York Times]
  • Washington warned Mayor Koch that New York City would have to carry out its contingency cuts to balance its next budget, Carter administration aides said. The Mayor said that Treasury Secretary Michael Blumenthal had said he was not hopeful about the prospects for $100 million in new federal aid for the city. [New York Times]
  • A minor earthquake shook New Jersey and tremors reached across Staten Island and into southern Brooklyn. The epicenter was near Perth Amboy, and in the central Jersey region buildings shook and objects fell off shelves. The temblor frightened many persons. A seismologist termed it "a small to moderate" quake, registering 3.8 on the Richter scale. [New York Times]
  • The return of Ayatollah Khomeini was authorized by the Iranian government, and the elderly Moslem leader began preparing for a flight home on Thursday from exile in France. A tumultuous welcome awaits the revered Shiite.

    The evacuation of all dependents of American officials and of non-essential officials in Iran was ordered by Washington. It urged that other American citizens also leave because of deteriorating security and a surge of anti-American demonstrations in Teheran and other Iranian cities. [New York Times]

  • A qualified pledge on Taiwan was made by Deputy Prime Minister Teng Hsiao-ping. He assured members of Congress that Peking hoped to unite the island with the mainland by peaceful means and would "fully respect the present realities" on Taiwan. But he said he could not categorically rule out the use of force because that would restrict Peking's leverage in negotiations with Taipei. [New York Times]
  • White Rhodesians accepted limited black rule by a wide margin. Pressed by a long guerrilla war, they approved a constitutional plan that provides for a black-led government with extensive safeguards for whites, including nearly a third of the cabinet posts for the first five years. [New York Times]
  • The Soviet Union angered Japan. Moscow has stationed about 5,000 troops on two islands off the northern Japanese island of Hokkaido and is constructing bases on them, according to Japanese officials. Control of the two islands has been challenged by Tokyo since they were taken over by the Russians at the end of World War II in 1945. [New York Times]
  • Deposed Cambodian leaders were denounced bitterly by President Heng Samrin, the head of the Vietnamese-installed government. He accused them of having murdered millions of Cambodians during their rule, which began in 1975. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 851.78 (-3.99, -0.47%)
S&P Composite: 101.05 (-0.50, -0.49%)
Arms Index: 1.28

Total Volume26.91
* 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
January 29, 1979855.77101.5524.18
January 26, 1979859.75101.8634.24
January 25, 1979854.64101.1931.45
January 24, 1979846.41100.1631.71
January 23, 1979846.85100.6030.18
January 22, 1979838.5399.9024.39
January 19, 1979837.4999.7526.80
January 18, 1979839.1499.7227.26
January 17, 1979834.2099.4825.31
January 16, 1979835.5999.4630.34

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