News stories from Monday August 17, 1981

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

The job application process to replace striking air traffic controllers was begun by the Reagan administration. Under a complicated two-year program, around-the-clock classes will be held at the training academy in Oklahoma City. The government reported that the effect of the first day of a two-day sympathy boycott by Portuguese controllers was negligible. [New York Times] A near midair collision report was filed by the pilot of an airliner carrying 118 passengers. He contended after landing at Newark International Airport that a private light plane had flown within 200 feet of his craft, but the private pilot asserted that his plane was never closer than 2,000 feet from the airliner. [New York Times] A sweeping anti-crime program was proposed by an advisory committee appointed by the Reagan administration. It recommended that the government spend $2 billion to help the states build additional prisons and called for the abolition of parole, a tightening of bail laws and many other changes designed to insure the punishment of violent offenders. [New York Times] The release of 322 Cuban refugees was ordered by a federal judge in Atlanta. The refugees have spent more than a year in a maximum-security federal prison because they did not have proper entry papers when they arrived in the United States. The judge said he would free the Cubans daily as fast as sponsors became available. [New York Times] The end of the mass migration of workers from the North and Middle West to the Sun Belt is predicted by some economic analysts. The early, skilled migrants are now being followed by the unskilled and semi-skilled, who find that the Sun Belt's economy has little more to offer them than was available at home. [New York Times] William J. Casey will amend the report on his personal finances that he submitted to the Federal Office of Government Ethics last Jan. 12, according to documents released by the ethics office. The documents show that the Director of Central Intelligence, who is a multimillionaire, holds 10 additional business interests worth more than $250,000. [New York Times] Wayne Williams pleaded not guilty to charges of having slain two of the 28 black youths murdered in Atlanta in the last two years. The tentative trial date is Oct. 5. [New York Times] A yearly report on Puerto Rico and treatment of the people there would be required of the United States under a proposal being reviewed by a United Nations committee. The panel heard Puerto Ricans urge the United Nations to halt what several said were "colonial actions." [New York Times] The execution of 23 Iranian leftists was reported by the Iranian state radio as the Islamic leaders in Teheran pressed a crackdown against those they characterize as anti-revolutionary activists. [New York Times] Polish workers made strike plans as the Solidarity union prepared for a major test with the authorities over the issue of the independent organization's access to the state-run media. The union's leadership has called a two-day national newspaper strike beginning Wednesday. [New York Times] Jet shipments to Israel are resuming under a decision by President Reagan. A State Department spokesman said that 16 F-16 and F-15 fighters that had been held up for 10 weeks would be shipped within a few days. During the suspension, the United States voted for a resolution in the United Nations Security Council condemning Israel's bombing of an Iraqi nuclear reactor in June. [New York Times] An accord on oil pricing among the OPEC producers seemed more likely as Libya indicated it was willing to reduce its official charge. Libya, together with Nigeria and Algeria, has insisted on charging $40 a barrel at a time when world oil markets have been glutted and buyers have balked at the high prices. [New York Times] A re-analysis of Sigmund Freud is being carried out by scholars seeking to explain some of the enigmas that still obscure the personal and professional life of the founder of psychoanalysis. These include the evolution of Freud's key theory of infantile sexuality and his relationship to his parents and other relatives. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 926.75 (-10.18, -1.09%)
S&P Composite: 131.22 (-1.27, -0.96%)
Arms Index: 0.98

	Issues	Volume*
Advances	391	9.22
Declines	1,149	26.53
Unchanged	358	5.09
Total Volume		40.84

* 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*
August 14, 1981	936.93	132.49	42.57
August 13, 1981	944.35	133.51	42.44
August 12, 1981	945.21	133.40	53.65
August 11, 1981	949.30	133.85	52.59
August 10, 1981	943.68	132.54	38.37
August 7, 1981	942.54	131.75	38.38
August 6, 1981	952.91	132.64	52.07
August 5, 1981	953.58	132.67	54.27
August 4, 1981	945.97	131.18	39.47
August 3, 1981	946.25	130.48	39.65