News stories from Thursday April 12, 1979

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

Fear of a calamitous disaster expressed by some officials of the Nuclear Regulatory Commission in the first days after the accident at the Three Mile Island nuclear plant was revealed in transcripts of secret meetings just made public. They showed that the officials repeatedly struggled with a decision on whether to recommend evacuation of the area.Marked changes in nuclear regulation by the government as a result of the accident at the Three Mile Island reactor are expected by experts who also say that the way utilities own and operate their reactors may be reconsidered. Many specialists expect the Pennsylvania accident eventually to bring about new laws, regulations and teams of safety experts and possibly new procedures and reorganization in the nuclear-power industry. [New York Times] The audit of Jimmy Carter's primary was criticized by several persons who took part in the inquiry by the Federal Election Commission. They said that the audit of finances in the 1976 presidential primary campaign had such a narrow focus that it was highly unlikely that the staff could have uncovered any sophisticated mishandling of funds if they had occurred. [New York Times] A step in combating diabetes and toward the ultimate goal of transplanting pancreatic cells to a diabetic person was reported by three researchers who successfully implanted insulin-producing cells in rats for 100 days. The hope is for a transplant to produce enough insulin hormone to avoid daily injections and prevent the major complications of the disease. [New York Times] Williamsburg has won a major gift. Through the will of John D. Rockefeller III, who died last July, a 545-acre plantation with an 18th century home and accompanying gardens and outbuildings will go to the Colonial Williamsburg historical restoration project. The picturesque Virginia property is valued at $4.4 million and known as Bassett Hall. [New York Times] American aerial spying was charged by South Africa. Prime Minister P. W. Botha announced that Pretoria had ordered the expulsion of a number of American Embassy personnel for what he said was the use of the American Ambassador's plane for espionage. Mr. Botha charged that a camera in the plane had been used to photograph "vast areas of South Africa, including some of our most sensitive installations."Peace efforts for South-West Africa are again being pressed by United Nations and American officials in efforts to persuade South Africa to agree to arrangements for a cease-fire and supervised elections in the territory, also called Namibia. But officials express concern that warfare could widen. [New York Times] Former Iranian leaders on trial have little chance in the Islamic Revolutionary Court in Teheran. The authorities broadcast appeals for witnesses against defendants, who have no lawyers. In the court, seen for the first time by a Western reporter, the judge said again and again, "It is not the individual who is on trial; it is the regime" of the exiled Shah. [New York Times] Spreading rebellion in Afghanistan is sharply challenging the country's year-old pro-Soviet government. Authoritative reports said thousands of people had been killed in recent months in battles between Soviet-equipped troops and Moslem guerrillas.Up to 100 Russians may have died in the fighting in Afghanistan in the last month, according to American aides. They said that some estimates put the present number of Soviet personnel there at 3,000, with more than 1,000 serving in military roles. [New York Times] Control aver Kampala was consolidated by Tanzanian-led troops as Tanzania speedily announced recognition of a new Ugandan government made up of exiles from the rule of Idi Amin. The whereabouts of President Amin remained a mystery. [New York Times] Cambodia is under firm control of the government established under Vietnamese auspices. Near the Thai border, at least 300 soldiers and their families, loyal to the fallen regime of Prime Minister Pol Pot, have established what may be their last camp. With a nearby border town occupied by Vietnamese troops, the war is going badly for their side. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 870.50 (-1.21, -0.14%)
S&P Composite: 102.00 (-0.31, -0.30%)
Arms Index: 0.80

	Issues	Volume*
Advances	609	10.14
Declines	788	10.51
Unchanged	482	6.13
Total Volume		26.78

* 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 11, 1979	871.71	102.31	32.87
April 10, 1979	878.72	103.34	31.90
April 9, 1979	873.70	102.87	27.30
April 6, 1979	875.69	103.18	34.72
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