News stories from Tuesday April 24, 1979

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

A mixed greeting for President Carter is expected when he goes to New Hampshire tomorrow for a round of politicking. Recent polls have shown consistent criticism of him there on the key issues of energy and possible future shortages of gasoline and home heating oil, along with inflation. Mr. Carter will also face the first stirrings of an organized write-in campaign for Senator Edward Kennedy for President. [New York Times] A valid interrogation of a suspect can be held under a Supreme Court ruling even if the suspect does not explicitly waive the constitutional right to consult a lawyer. By a vote of 5 to 3, the Justices held that when a suspect is advised of his rights and willingly talks with the police, his refusal to sign a form specifically waiving his rights does not automatically make his incriminating statements inadmissible in a trial. [New York Times] Scrutiny of the outside of mail by law enforcement officers will be subject to revision under a proposal by the Postal Service. A federal judge had found the rule authorizing the recording of data on an envelope for national security purposes "unconstitutionally vague," and a Postal Service lawyer said that the proposed new regulation would make the authority for such surveillance more specific. [New York Times] The Holocaust was recalled in a ceremony in the Capitol rotunda that was attended by President Carter and a crowd of 1,000, including government leaders, diplomats and several persons who had escaped the murder of six million Jews. The ceremony, which ended with a mass chanting in Aramaic of a prayer for the dead, marked International Holocaust Day and the 36th anniversary of the Jewish uprising in the Warsaw ghetto. [New York Times] National Cancer Institute testing for carcinogens was assailed by the General Accounting Office, which charged that the institute had failed repeatedly to detect serious deficiencies, causing many results to be discarded at a cost of millions of dollars. [New York Times] A battle over evolution is raging in Iowa. Opponents of the evolution theory of the origins of man are pressing for passage of legislation in the state Senate to mandate teaching of their views if evolution is taught. The battle reflects a growing national drive to champion teachings more easily reconciled with the biblical account of creation. [New York Times] Some structures for the Olympics next winter being built at Lake Placid, N.Y., are faulty and could pose possible hazards to spectators and contestants, two federal engineers charged. The charges were denied by the company supervising the construction. [New York Times] Washington acted against "redlining" in mortgage requests. In the first such move by a federal agency, the Federal Deposit Insurance Corporation denied a permit to open a new branch of the Greater New York Savings Bank on the ground that the Brooklyn-based institution had granted too few residential mortgages in its community. [New York Times] The victor in Rhodesia's election was Bishop Abel Muzorewa's party, which was declared winner with a bare majority of 51 seats in the country's first black-dominated Parliament and 67.3 percent of the popular vote. His main rival continued to challenge the results, charging that white officials had pressed tribesmen to support the bishop. The bishop is an American-educated nationalist with a peacemaker's image. [New York Times] Iran's regime sought to assert power. Prime Minister Bazargan, breaking a three-week silence, made his most severe attack on the Islamic komitehs of Ayatollah Khomeini in a television speech, calling for an end to anarchy and the "rule of revenge." Mr. Bazargan also announced a major reshuffle in his government, downgrading a powerful deputy who is also a close aide to the Ayatollah. [New York Times] Robert Strauss will be chief envoy for Washington in Middle East negotiations on Palestinian self-rule in the West Bank and Gaza. The unexpected appointment of the special trade representative to be Ambassador-at-large was announced to reporters by President Carter. [New York Times] Israeli forces struck in Lebanon with planes and ships, hitting Palestinian targets in what appeared to be an increasing campaign to halt guerrilla raids into Israel. At least 10 persons were reported killed and 12 wounded. Prime Minister Begin proposed that the death penalty be made mandatory for guerrillas captured in acts of "extraordinary cruelty." [New York Times]

Stock Market Report

Dow Jones Industrial Average: 866.86 (+6.76, +0.79%)
S&P Composite: 102.20 (+0.63, +0.62%)
Arms Index: 0.69

	Issues	Volume*
Advances	922	21.48
Declines	545	8.79
Unchanged	450	5.27
Total Volume		35.54

* 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 23, 1979	860.10	101.57	25.62
April 20, 1979	856.98	101.23	28.83
April 19, 1979	855.25	101.28	31.12
April 18, 1979	860.27	101.70	29.51
April 17, 1979	857.93	101.24	29.27
April 16, 1979	860.45	101.12	28.05
April 12, 1979	870.50	102.00	26.78
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