News stories from Wednesday September 12, 1979

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

Sufficient heating oil this winter was pledged by President Carter. Addressing a group of retired people in Hartford, Mr. Carter said that he had asked 27 of the largest oil companies to hold the present line on heating oil prices and that he was planning a $2.4 billion program to help low-income families pay energy bills. [New York Times] Standby gasoline rationing authority for President Carter cleared a major hurdle as a Senate-House conference agreed on machinery to permit him to put the plan into effect. [New York Times] The appeal of Edward Kennedy dogged President Carter as he politicked in Connecticut. Meeting with an elderly group in Hartford, Mr. Carter was pressed to defend his plan for a phased beginning of national health insurance versus the more immediate and comprehensive plan advocated by the Massachusetts Senator. Later, the President received a warmer welcome in eastern Ohio. [New York Times] A Kennedy-for-President drive is gaining among Democrats in Congress. Meanwhile, it was disclosed that a top aide to President Carter told a key associate of the Senator last month that Mr. Carter would not bow out even if Mr. Kennedy entered the race for the Democratic nomination and won some early primaries. [New York Times] A Carter campaign headquarters was opened in Manchester, N.H. by Rosalynn Carter, who called for Democratic Party unity behind the President. But her appearance failed to diminish the growing expectation that Senator Kennedy would enter the presidential race later this fall. [New York Times] Hurricane Frederic hit the Gulf Coast of Alabama with 130 mile an hour winds. An estimated 400,000 people along the coast from Florida to Louisiana fled inland. Power was out in 95 percent of Mobile County. There were no reports yet of serious injury. [New York Times] Revival of registration for the draft was rejected by the House when it voted, 259 to 155, against a bill that would require all 18-year-old males to register for possible military service. Instead, the House called for the President to study and report to Congress on whether registration should be resumed, whether women should be registered and how to enable the military to meet personnel needs. [New York Times] A gain for study of hereditary cancer was reported. An inherited genetic abnormality has been linked to a specific type of kidney cancer in a family in which 10 members were affected over three generations. The discovery provides a new and possibly key clue to the origin of some cancers. [New York Times] Optimism about auto contract talks was expressed by officials of General Motors and the United Automobile workers, who believe that an accord will be reached, averting a strike. The union said that a positive mood prevailed at the negotiations and that progress was continuing on non-economic matters. [New York Times] More women state troopers are sought by New Jersey. After graduating only two women from the state police academy in five years because of a high dropout rate, the state announced plans for an all-woman class of at least 80. In the past, men and women have been trained together. In 1975, New Jersey agreed to federal demands to recruit more women, blacks and Hispanic members for its police force. [New York Times] Two gunmen entered a bank branch in Manhattan's financial district before it was to open and one of the men, after duping his partner to stay behind to cover the bank's manager and five employees, fled with about $200,000. The second bandit was seriously wounded in a shootout with a bank guard. The number of bank robberies in New York City thus far this year totals 642, a record for any entire year. [New York Times] The mission of a Soviet brigade in Cuba was under intensive study by the Carter administration. State Department officials said that one of various possibilities was that the troops might be training Cuban units for action in Africa. The theory suggested a possible modification in the administration's previous emphasis that the Soviet brigade was strictly a combat force. [New York Times] The Zimbabwe Rhodesia conference advanced as the rebel alliance accepted a British proposal that a new constitution for increased black power be considered first. With agreement on the agenda, Britain's Foreign Secretary, who is chairman of the conference, circulated a proposed new constitution for Salisbury. [New York Times] Britain's Post Office monopoly would end and the agency's mail-carrying and telephone services would be split into two companies under plans by the Conservative government. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 870.90 (+1.19, +0.14%)
S&P Composite: 107.82 (+0.31, +0.29%)
Arms Index: 0.63

	Issues	Volume*
Advances	816	23.38
Declines	655	11.82
Unchanged	404	4.15
Total Volume		39.35

* 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*
September 11, 1979	869.71	107.51	42.54
September 10, 1979	876.88	108.17	33.00
September 7, 1979	874.15	107.66	34.37
September 6, 1979	867.32	106.85	30.36
September 5, 1979	866.13	106.40	41.65
September 4, 1979	872.61	107.44	33.35
August 31, 1979	887.63	109.32	26.37
August 30, 1979	883.70	109.02	29.28
August 29, 1979	884.90	109.02	30.81
August 28, 1979	884.64	109.02	29.43