News stories from Wednesday March 14, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A tape of the mass-death ceremony at the People's Temple in Guyana revealed the Rev. Jim Jones exhorting his followers to poison themselves because, he said, Guyanese paratroops were on the way to torture and murder the cult members. The recording contains Mr. Jones's words and some of his followers' reactions, ending with a faint cry but no sound of the gunshots that reportedly took his life. [New York Times]
- A violent Ku Klux Klan group has been intimidating public officials, harassing and beating black activists and publicly brandishing weapons. The violence has occurred in Mississippi and Alabama and seems to be generating membership increases, estimated at 1,500 in the last year. [New York Times]
- A technique for aiding diabetics was reported by Yale University researchers, who said they had developed a portable insulin injection system that could determine whether the complications of the disease are preventable by rigid, long-term control of the amount of sugar in the blood. Diabetes, which afflicts millions of people, produces such major complications as blindness, heart disease and kidney, blood vessel and nerve damage. [New York Times]
- Auto makers pressed Congress to ease fuel-efficiency rules for new cars or extend the compliance time to the late 1980's. Company spokesmen told a House panel that, otherwise, the costs of redesigning and retooling would run into tens of billions of dollars, raise car prices and increase inflation and unemployment. Consumer advocates argued that the standards would be relatively easy to meet. [New York Times]
- NBC executives allegedly embezzled large amounts of cash from the network over a period of years. Federal prosecutors in New York City and the District of Columbia are investigating the allegations at the request of the network. The company said its own inquiry had confirmed "widespread improprieties and questionable practices" among the expense account managers, who often travel with television crews carrying satchels full of cash to aid assignments and cross national borders. [New York Times]
- The path for a peace treaty with Egypt was paved by the Israeli cabinet as it voted overwhelmingly to accept the last two issues blocking an accord. A government spokesman said that the cabinet would meet Sunday to approve the pact formally, and that it would then be presented to Parliament, where approval is expected. Government sources said the two points at issue involved Israeli access to Egypt's oil and a timetable for exchange of ambassadors. Many Arab leaders denounced Egypt for moving toward a treaty with Israel. Criticism came from hard-line opponents of peace and from key financial backers of Egypt.
President Carter praised Congressmen for bipartisan support of his peace mission to the Mideast. He expressed deep gratitude to about 100 members of Congress in a speech in the East Room of the White House.
American aid to Israel and Egypt after they sign a peace pact will total billions of dollars and is likely to lead to loose security arrangements between them and Washington, according to Carter administration officials. A senior official estimated the new aid at $5 billion over several years.
A major American pledge was reported by a high Egyptian official. He said that Washington had agreed to participate directly in talks between Egypt and Israel aimed at establishing Palestinian home rule on the West Bank and in the Gaza Strip.
[New York Times] - A former top official in Iran was interrogated. Amir Abbas Hoveida, who for 13 years was the right hand man of the Shah and long served as Prime Minister, faced a revolutionary tribunal as executions of supporters of the Shah for political crimes began. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 845.37 (-1.56, -0.18%)
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* |
| March 13, 1979 | 846.93 | 99.84 | 31.17 |
| March 12, 1979 | 844.68 | 99.67 | 25.75 |
| March 9, 1979 | 842.86 | 99.54 | 33.41 |
| March 8, 1979 | 844.85 | 99.58 | 32.00 |
| March 7, 1979 | 834.29 | 98.44 | 28.94 |
| March 6, 1979 | 826.58 | 97.87 | 24.50 |
| March 5, 1979 | 827.36 | 98.06 | 25.96 |
| March 2, 1979 | 815.75 | 96.97 | 23.13 |
| March 1, 1979 | 815.84 | 96.90 | 23.84 |
| February 28, 1979 | 808.82 | 96.28 | 25.09 |