News stories from Friday September 18, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Reagan vowed to "fight to the last blow" for the new round of spending cuts he wants to hold down the 1982 budget deficit. In an address in Denver before a meeting of the National Federation of Republican Women, Mr. Reagan said additional budget cuts will be made this year to keep the deficit from climbing. [New York Times]
- Alternative Republican budget cuts were being drafted by Republican leaders in Congress, who expressed misgivings about President Reagan's proposal to cut back several benefit and pension programs to keep the 1982 budget deficit from rising. [New York Times]
- Higher farm price supports and subsidies that will cost at $10.8 billion in the next four fiscal years are part of a new farm bill that was approved by the Senate, which rejected the Reagan administration preference for a free market farm economy. [New York Times]
- A former C.I.A. agent's activities after leaving the agency will be investigated by the House Select Committee on Intelligence. The former agent, Edwin P. Wilson, has been charged by federal investigators of having illegally exported explosives to Libya and participating in training terrorists there. Edward Boland, the committee's chairman, and other committee members said that the charges against Mr. Wilson had exposed possible deficiencies in federal laws governing the conduct of former intelligence agents and the transfer of advanced technology abroad. [New York Times]
- Elimination of a Treasury agency has been decided on by the Reagan administration. The functions of the Bureau of Alcohol, Tobacco and Firearms, in the Treasury Department, will be shifted to other federal law enforcement agencies, administration sources said, explaining that it was a budget-cutting measure. But gun-control advocates say the plan to abolish the agency is a major victory for a pro-gun lobby which recently began a nationwide television campaign portraying the agency as "jackbooted fascists," harassing gun owners for technical violations of the law. [New York Times]
- The South African Springboks said they would continue their rugby games in the United States despite being officially barred from public stadiums in New York and California. A spokesman for the team said that a game scheduled in Chicago with Middle West amateur all-stars will be played in complete secrecy, and that games scheduled next week in New York with an Eastern all-star team and and a United States national team will be played privately. [New York Times]
- Charges in Newark of "no-show jobs" and fiscal improprieties in the municipal government will be investigated by the Essex County prosecutor, George Schneider. The announcement followed an investigation of a former Newark city councilman who held a $24,500-a-year city job, although he lives in Florida. [New York Times]
- Genes that seem to transmit cancer from the cells of some human cancers to other non-cancerous human cells have been discovered by research scientists, who have been working independently. The presence of genes that can cause a normal, healthy cell to turn cancerous raises the possibility that future research might discover how to make the genes harmless and, maybe, stop the cancer-causing process. The researchers emphasize that such findings may be many years away, at best. [New York Times]
- Poland's "independent existence" is threatened by the Solidarity labor union, the government said. The warning followed a sharp message from the Central Committee of the Soviet Communist Party, which demanded immediate action against what it said was the union's politicially inspired campaign of anti-Sovietism. The Council of Ministers in Warsaw told Solidarity that the government was prepared to take "all means" at its disposal and "definite measures that might become necessary for the defense of socialism." [New York Times]
- The U.S accused Moscow of "interference with Poland's internal affairs" in a response to Moscow's note to the Warsaw government. It was the sharpest American statement to the Soviet Union since Moscow stepped up its campaign against the Solidarity union's influence in Poland. [New York Times]
- Moslems held a protest in Cairo on the third consecutive Friday, the Moslem holy day, against the measures taken by President Anwar Sadat against religious sects he charged with political ambitions. The demonstration was smaller than the two previous clashes with the police, who broke it up, using tear gas and clubs. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 836.19 (-3.90, -0.46%)
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* |
| September 17, 1981 | 840.09 | 117.15 | 48.29 |
| September 16, 1981 | 851.60 | 118.87 | 43.62 |
| September 15, 1981 | 858.35 | 119.77 | 38.58 |
| September 14, 1981 | 866.15 | 120.66 | 34.04 |
| September 11, 1981 | 872.81 | 121.61 | 42.16 |
| September 10, 1981 | 862.44 | 120.14 | 47.40 |
| September 9, 1981 | 853.68 | 118.40 | 43.90 |
| September 8, 1981 | 851.12 | 117.98 | 47.33 |
| September 4, 1981 | 861.68 | 120.07 | 42.75 |
| September 3, 1981 | 867.01 | 121.24 | 41.72 |