News stories from Wednesday October 10, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- An oil supply goal has been met, a senior White House official said. The official announced that stockpiles of home heating oil and diesel fuel had reached the target level of 240 million barrels, virtually guaranteeing that there will be no shortage of these fuels this winter. However, President Carter warned of "the very strong possibility that the trend in production" of oil exporting nations "will be downward." [New York Times]
- Payless or reduced-rate paydays for millions of federal employees became an increasing danger as the Senate held firm against a House-approved congressional pay increase and strict limits on federal funds for abortions. Senate and House negotiators are to meet tomorrow in an effort to break the impasse and forestall a potentially serious financial crisis. [New York Times]
- A first move to protect worker fertility and the health of the unborn under the occupational health and safety law was taken by the government. It accused the American Cyanamid Company of endangering the reproductive capacity of workers in a lead pigment plant in Willow Island, W.Va. Four women workers were voluntarily sterilized to keep their jobs after the company reportedly refused to let them work in certain areas because of possible dangers from chemicals. [New York Times]
- A crackdown on sewerage discharges from perhaps thousands of municipalities that have failed to install new treatment facilities despite federal financing of 75 percent of the cost was announced by the Environmental Protection Agency. [New York Times]
- Urging increased minority enrollment, the government told the nation's colleges and universities that they could establish "numerical goals" for this aim without violating the Supreme Court's ban on strict racial and ethnic quotas in admissions. The Court has twice upheld the basic concept of affirmative action. [New York Times]
- Fort Dix will remain open as an Army training center for at least 12 to 18 more months, Secretary of the Army Clifford Alexander announced. The decision postpones probably until after the 1980 elections a plan that would virtually close the base. [New York Times]
- Flight operations are being examined in the New York metropolitan area by federal officials following three recent incidents in which airliners came perilously close to midair collisions. Last Sunday, two American Airlines jets reportedly missed each other by about 100 feet eight miles from Kennedy International Airport. The planes, a cargo craft and a ferry flight, carried no paying passengers. [New York Times]
- An unusually early glimpse of winter occurred as autumn storms swept through the New York metropolitan region, spinning out drizzling rains, waterspouts and the season's first snowfalls. The foul weather affected regions from Virginia to Massachusetts. It was the second time in 110 years of recordkeeping that New York City had seen snow so early. [New York Times]
- The commune in Guyana where more than 900 members of Jim Jones' People's Temple died nearly a year ago lies abandoned. Many Guyanese would like to forget the horror of Jonestown, but months of litigation lie ahead. Two murder trials are set and there are 695 claims on the money and property of the cult. [New York Times]
- Senate debate on the arms treaty with the Soviet Union may begin about Nov. 1, according to the majority leader, Senator Robert Byrd. But there is still doubt about the schedule for committee and floor debate. Senate Republicans expressed doubt that there were enough votes to approve the treaty even though the administration pledged to provide an outline of future military spending plans before the Senate vote. [New York Times]
- Students in Peking protested in a march and sit-in, with more than 2,000 of them demanding the withdrawal of an army artillery unit from the People's University campus. [New York Times]
- New missiles for Western Europe were urged by Zbigniew Brzezinski, President Carter's national security adviser. He warned NATO allies that failure to proceed with such plans could lead to political intimidation by Moscow "at best, and even war at worst." [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 849.32 (-8.27, -0.96%)
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* |
| October 9, 1979 | 857.59 | 106.63 | 55.57 |
| October 8, 1979 | 884.04 | 109.88 | 32.61 |
| October 5, 1979 | 897.61 | 111.27 | 48.25 |
| October 4, 1979 | 890.10 | 110.17 | 38.80 |
| October 3, 1979 | 885.15 | 109.59 | 36.47 |
| October 2, 1979 | 885.32 | 109.59 | 38.32 |
| October 1, 1979 | 872.95 | 108.56 | 24.98 |
| September 28, 1979 | 878.58 | 109.32 | 35.96 |
| September 27, 1979 | 887.46 | 110.21 | 33.12 |
| September 26, 1979 | 886.35 | 109.96 | 37.70 |