News stories from Monday April 30, 1979

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

Draft registration would be required of all 18-year-old males under a bill approved by a House subcommittee. The action was strongly criticized by advocates of the present all-volunteer military force. The measure, which requires registration in case a draft is reinstituted, must be approved by Congress and the President. [New York Times] A person cannot be committed against his will to a mental institution without "clear and convincing" evidence that he is both mentally ill and likely to be dangerous, the Supreme Court ruled. This is a stricter standard than is now required by about 20 states, including New York and New Jersey, where a "preponderance of evidence" has been deemed sufficient. [New York Times] Rubber workers said they would strike Uniroyal Inc., the major tire maker, at 12:01 A.M. Saturday if no contract had been approved by then. The head of the United Rubber Workers said that the union was still willing to negotiate, but that he was not optimistic. [New York Times] A new Department of Education would be created under an administration-backed bill approved in the Senate by a vote of 72 to 21 after four days of debate. The measure faces a much harder fight in the House. [New York Times] A catastrophic core meltdown would have been a "fairly high possibility" if the utility that owned the crippled Pennsylvania reactor had tried to use one conventional method to try to cool it early in the March 28 accident, according to an official of the Nuclear Regulatory Commission. [New York Times] Leukemia study results failed to reach John Gardner when he was Secretary of Health, Education and Welfare in the Johnson administration, he said in an interview. The government-financed study showed an abnormally high rate of the disease among people exposed to low-level radiation during nuclear tests in Nevada. [New York Times] A Kennedy-Carter clash occurred. Senator Edward Kennedy charged that the oil companies had "intimidated" the President into decontrol of domestic oil prices and a "windfall" profits tax that was only a "transparent fig leaf." The President termed the criticism "just a lot of baloney." [New York Times] Bias against Hispanic welfare clients and applicants in New York City was charged by federal officials, who cited too few Spanish-speaking employees and Spanish-language forms and delays in benefits for the poor: A 300-page report estimated that Hispanic clients received their first welfare checks nearly a week later than other people, for a total loss of about $4,347,900, and also incurred other costs of about $1,138,173. [New York Times] Alleged crime ties in Atlantic City are under inquiry. A Toronto real estate developer, Angelo Pucci, who officials say is linked to organized crime, has invested $4.75 million in real estate in Atlantic City since June 30, local investigators said. [New York Times] Esquire Magazine was sold for an undisclosed price to two men from Knoxville, Tenn. The new owners said that Esquire would be aimed at "educated, sophisticated, active, upscale, career-oriented males 25 to 45 years old" who sought guidance in a world in which "the rules of society have completely changed." [New York Times] Jimmy Carter defended an arms pact. The President said that Moscow would not violate a new strategic arms treaty because to do so could lead to an American rejection of the entire pact, would threaten Soviet relations with Washington and could possibly result in a "nuclear confrontation." "The consequences would be very severe," he said at a nationally televised news conference. [New York Times] Rebuilding Uganda will be hard after the eight years of desecration under the tyranny of Idi Amin. The country has rich resources, both human and physical, and has a far better chance than most developing nations to recover from the era of terror, mismanagement and corruption. Recovery will depend largely on the extent of damage to Uganda's moral fiber. [New York Times] Valentyn Moroz told how he survived 14 years in Soviet prisons for advocating Ukrainian independence with belief in that goal and in God. The gaunt history teacher, one of five dissidents released in the United States in exchange for two Soviet spies, said in an interview that he had withstood forced feedings, beatings and solitary confinement for months in freezing cells.Aleksandr Ginzburg is overwhelmed by his new freedom after serving three terms in Soviet labor camps, which undermined his health. In 1979 he helped set up a fund, using royalties donated by Aleksandr Solzhenitsyn, the writer, to aid Soviet political prisoners and their families. Mr. Ginzburg said in an interview that he sought "a humanization of society." [New York Times] An Israeli ship sailed up the Suez Canal in the first tangible result of the Egyptian-Israeli peace treaty. Egyptian spectators and crewmen on the Israeli freighter exchanged greetings of peace during the first such passage by a ship flying the Israeli flag since Israel became a nation in 1948. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 854.90 (-1.74, -0.20%)
S&P Composite: 101.76 (-0.04, -0.04%)
Arms Index: 0.99

	Issues	Volume*
Advances	644	9.88
Declines	760	11.50
Unchanged	494	5.06
Total Volume		26.44

* 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 27, 1979	856.64	101.80	29.63
April 26, 1979	860.97	102.01	32.41
April 25, 1979	867.46	102.50	31.75
April 24, 1979	866.86	102.20	35.54
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