News stories from Friday April 6, 1979

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

Electricity will be generated at full power by the eight other reactors built by Babcock & Wilcox, the builders of the crippled Three Mile Island plant in Pennsylvania, the Nuclear Regulatory Commission announced. The agency, voting 4 to 1, turned down a request by Gov. Jerry Brown of California that the Rancho Seco nuclear plant near Sacramento, built by Babcock & Wilcox, be closed while an investigation was being made of the failure at Three Mile Island. Two equipment failures occurred as technical experts worked to put the Three Mile Island nuclear reactor under full control.A "moratorium" was declared by Columbia University's engineering faculty that would forestall either the activation or the dismantling of the nuclear reactor on the campus, and a South Jersey hamlet filed suit against a utility to prevent it from enlarging its storage capacity for used-up highly radioactive fuel rods. Two nuclear plants, Salem 1 and Salem 2, among the country's largest, are situated on an artificial island in the Delaware River, adjoining Lower Alloways Creek Township, whose suit underscores growing concern around the country over the government's failure to establish permanent disposal sites for radioactive fuel wastes. [New York Times] Another collapse in negotiations between the Teamsters union and the trucking industry increased the probability of a prolonged and economically disruptive shutdown of the industry, which began last Saturday. [New York Times] Passengers on a TWA flight survived when the plane went out of control at 39,000 feet and made a complete 360-degree barrel roll, plunging 27,000 feet in 10 seconds. They said they were sure they were about to die. The pilot saved the plane by dropping his landing gear, producing enough drag to slow it down and land it at the Detroit airport late Wednesday night. [New York Times] Employment increased substantially in March when 200,000 people found jobs. The February unemployment rate of 5.7 percent of the work force was unchanged, as it generally has been since last summer. It is possible that the April report might not be so cheering because the trucking industry's lockout of members of the Teamsters union might throw people out of work who are dependent on the shipment of industrial materials. [New York Times] All aid to Pakistan was cut off by the Carter administration when it learned from intelligence reports that Pakistan was acquiring the ability to build nuclear weapons. An amendment to the 1976 Nuclear Proliferation Act prohibits economic and military assistance to any country that obtains equipment for nuclear enrichment without placing it under international safeguards. [New York Times] Vietnam has seriously weakened resistance to its occupation of Cambodia through a major offensive in the western part of the country, Western analysts say. But the opposition will not be eliminated, the analysts believe, because the resistance forces of former Prime Minister Pol Pot are retreating into jungle and mountain regions and avoiding confrontation. [New York Times] The execution of Amir Abbas Hoveyda, who was Prime Minister of Iran under the Shah for 13 years, is a "virtual certainty," according to an aide of Prime Minister Mehdi Bazargan. His trial is expected to begin soon, possibly tomorrow. Mr. Bazargan was said to be resigned to the likelihood that summary trials and executions would continue for several months, despite his opposition to them. [New York Times] Kampala is surrounded by troops of the Uganda National Liberation Front and "are making steady progress in the march to Kampala from various directions," the coalition of Ugandan exile groups said in a communique. The message also confirmed reports that the Liberation Front had captured the town of Entebbe and its airport. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 875.69 (-1.91, -0.22%)
S&P Composite: 103.18 (-0.08, -0.08%)
Arms Index: 0.82

	Issues	Volume*
Advances	750	15.71
Declines	691	11.89
Unchanged	463	7.11
Total Volume		34.71

* 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
Date	DJIA	S&P	Volume*
April 5, 1979	877.60	103.26	34.54
April 4, 1979	869.80	102.65	41.94
April 3, 1979	868.33	102.40	33.53
April 2, 1979	855.25	100.90	28.97
March 30, 1979	862.18	101.59	29.97
March 29, 1979	866.77	102.03	28.51
March 28, 1979	866.25	102.12	39.92
March 27, 1979	871.36	102.48	32.93
March 26, 1979	854.82	101.04	23.42
March 23, 1979	859.75	101.60	33.58