News stories from Tuesday November 20, 1979

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

The possible use of military force if the remaining 49 American hostages in Teheran are not freed was suggested by Washington for the first time in the crisis with Iran. The White House said it preferred a peaceful solution but had other "remedies" provided by the United Nations Charter, which recognizes the right of self-defense by any member state to protect its citizens and property.A second U.S. naval task force was ordered into the Indian Ocean south of Iran, administration officials said. The group, headed by the carrier Kitty Hawk, with 85 planes aboard, was instructed to sail from the Philippines. It is to join another navy group led by the carrier Midway, with 75 aircraft aboard, that has just completed week-long maneuvers with British ships in the Arabian Sea. [New York Times] American hostages face trial unless the deposed Shah is returned to Iran, Ayatollah Khomeini affirmed in a televised address to Iranians as they began one of their holiest mourning periods. The revolutionary leader said he would not retreat "one step" in the threat to bring to trial the 49 Americans still held in the embassy in Teheran. [New York Times] An attack by fundamentalist Moslems believed to be from Iran was made on the Grand Mosque in Mecca, according to American officials. They said that the band had seized Islam's holiest shrine and fought off Saudi Arabian troops for several hours before relinquishing control of the mosque. An unconfirmed report said that an Imam of Mecca, a Moslem leader, was killed in the crossfire. [New York Times] A denial of federal funds to Chicago was suggested by Transportation Secretary Neil Goldschmidt in the aftermath of Mayor Jane Byrne's decision to support Senator Edward Kennedy's challenge to President Carter for the Democratic presidential nomination. Mr. Goldschmidt said he would look for opportunities to deny aid to the city. [New York Times] The Carter re-election drive gained a key victory. The Federal Communications Commission ruled, 4 to 3, that the television networks had acted unreasonably in refusing President Carter's request to buy 30 minutes of prime time next month to announce his candidacy for a second term. [New York Times] Minorities' posts in the A.F.L.-C.I.O. will be sought. Lane Kirkland, in his first major action as president of the labor federation, announced a move to bring women, blacks and Hispanics into top leadership posts. Also, delegates at the federation's convention voted to back measures to end disparities in wages of men and women performing comparable work. [New York Times] Alleged victims of Agent Orange won a court ruling. A federal judge in Mineola, Long Island, decided that Vietnam veterans who were assertedly injured by the defoliant and their children born deformed may bring a single federal suit against five companies that manufactured the chemical. The plaintiffs estimate that 46,000 veterans and their children were victims and that claims could amount to $40 billion. [New York Times] New England's poor fear winter and its record-high heating costs. Despite Washington's plans to provide $1.6 billion in emergency fuel aid to the poor, and some new state programs to help fill the gap, there is wide concern that many of the old and ill may not live to see spring.The burning of cheaper but dirtier oil on a test basis at two Consolidated Edison plants in New York City was approved by the state Department of Environmental Conservation. But before the utility can begin burning the higher sulfur fuel, it must also get approval from federal and city environmental protection agencies. [New York Times] Aleksandr Godunov left the American Ballet Theater at his own request because he felt that his reportedly high salary had become an issue in the company's labor dispute with its dancers. The former Bolshoi Ballet star who defected last August said he had no other engagements scheduled. [New York Times] Anthony Blunt emerged from hiding to admit he had made "an appalling mistake" that he later came to "bitterly regret" in agreeing 40 years ago to spy for Moscow. But the 72-year-old British art historian, whose espionage was unmasked by London last week, said he had acted out of idealism. [New York Times] Zambia, citing a "war situation" generated by raids from Zimbabwe Rhodesia on Zambian road bridges, called up reservists and canceled all military leaves. President Kenneth Kaunda charged that the series of raids involved a new strategy by Salisbury aimed at crippling Zambia's transportation network and forcing the country to press Rhodesian guerrillas to make concessions at peace talks. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 809.22 (-6.05, -0.74%)
S&P Composite: 103.69 (-0.54, -0.52%)
Arms Index: 1.08

	Issues	Volume*
Advances	578	11.63
Declines	891	19.28
Unchanged	413	4.10
Total Volume		35.01

* 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*
November 19, 1979	815.27	104.23	33.09
November 16, 1979	815.70	103.79	30.06
November 15, 1979	821.33	104.13	32.37
November 14, 1979	816.55	103.39	30.95
November 13, 1979	814.08	102.94	29.24
November 12, 1979	821.93	103.51	26.66
November 9, 1979	806.48	101.51	30.06
November 8, 1979	797.61	100.30	26.27
November 7, 1979	796.67	99.87	30.83
November 6, 1979	806.48	101.20	21.96