News stories from Tuesday August 1, 1978
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Senator Edward Brooke will not face perjury charges for false statements he made involving his recent divorce, Garrett Byrne, a Massachusetts District Attorney, decided. Mr. Byrne acted on the recommendation of a former judge named to review the case, who concluded that although Senator Brooke admitted having deliberately made "misstatements" under oath, they did not involve sufficiently large amounts of money to constitute perjury under state law. [New York Times]
- Illegal aliens throughout the Southwest will soon be advised in radio broadcasts of how to legitimize their residence in the United States. The announcements, recorded recently in Spanish and English, represent the boldest step in the Carter administration's efforts to reduce the number of illegal aliens since it advanced a controversial plan last year to grant some of them amnesty. [New York Times]
- Suspected carcinogens have caused a crisis in the Niagara Falls region. Children have been burned and large numbers of miscarriages and birth defects have been found among residents along the Love Canal, which a chemical company stopped using as an industrial dump more than 25 years ago. Since then, 82 compounds, their drum containers rotting, have spewed into the yards and basements of 100 homes and a public school. The New York state Health Department is to recommend tomorrow whether a health emergency should be declared and families with small children evacuated. [New York Times]
- Margaret Costanza resigned as a White House aide, citing differences with other officials on her approach to issues. President Carter accepted her resignation "with regret." Several months ago, her responsibilities were sharply reduced. [New York Times]
- Senate hearings on organized crime opened with an admission by a convicted Miami loan shark that he had murdered an underworld partner. Gary Bowdach also said that he had acted as an enforcer when an officer of the International Longshoremen's Association made a $40,000 payoff allegedly intended for Meyer Lansky, the reputed crime leader. [New York Times]
- Rules governing sulfurous smoke that will be generated by new or modified coal-powered electric plants have become a subject of intense debate among government agencies and special interest groups. Billions of dollars, as well as clean air, are at stake. The Environmental Protection Agency must issue proposed regulations by Sept. 12. [New York Times]
- The arms embargo against Turkey would be ended under a House vote of 208 to 205. The Representatives thus narrowly accepted President Carter's argument that the ban was hindering a settlement in Cyprus and weakening the Atlantic alliance. The tense decision came after several members voted at the last minute, and a few changed their votes. [New York Times]
- The former Chilean secret police chief and six other persons, including four members of a Cuban nationalist group, were indicted in the murder of Orlando Letelier, a former Chilean cabinet minister and major critic of the military government of President Augusto Pinochet. Mr. Letelier was slain in Washington in 1976. [New York Times]
- Christina Onassis was married to Sergei Kauzov, a former Soviet shipping official, in a 15-minute secular ceremony in Moscow. Reporters packed the street outside the building to glimpse the 27-year-old Greek shipping millionaire and Mr. Kauzov, but only two Soviet photographers were allowed to view the ceremony. [New York Times]
- Iraq said the terrorist who attacked its embassy in Paris was under orders from the Palestine Liberation Organization "in coordination with Syrian intelligence." The terrorist, who had held eight hostages at the Embassy, told the French police he was a brother of Said Hammami, whose assassination in London last month was linked to Iraqi agents. [New York Times]
- Rhodesia's raid into Mozambique this week was aimed in part at 2,700 newly trained guerrillas who sought to disrupt a cease-fire plan under which "pro-government guerrillas" have switched sides and are aiding the administration of the country, Rhodesia's military commander said. [New York Times]
- European airports remained jammed with stranded travelers. Hundreds of thousands have been delayed by a slowdown by French air controllers. The travelers included Americans who bought low-fare seats to Europe and now find that the carriers do not have enough low-cost seats to get them home. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 860.71 (-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* |
| July 31, 1978 | 862.27 | 100.68 | 33.99 |
| July 28, 1978 | 856.29 | 100.00 | 33.31 |
| July 27, 1978 | 850.57 | 99.54 | 33.97 |
| July 26, 1978 | 847.19 | 99.08 | 36.82 |
| July 25, 1978 | 839.57 | 98.44 | 25.40 |
| July 24, 1978 | 831.60 | 97.72 | 23.27 |
| July 21, 1978 | 833.42 | 97.75 | 26.07 |
| July 20, 1978 | 838.62 | 98.03 | 33.34 |
| July 19, 1978 | 840.70 | 98.12 | 30.85 |
| July 18, 1978 | 829.00 | 96.87 | 22.86 |