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Thursday October 11, 1979
. . . where the 1970s live forever!

News stories from Thursday October 11, 1979

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

  • Fidel Castro's presence at 38th Street and Lexington Avenue all but stopped activity on several normally thriving blocks in midtown Manhattan. The Cuban leader, who is to address the United Nations tomorrow, spent his first day in the United States in 19 years shut up inside the tightly guarded Cuban Mission. The area was cordoned off to traffic and police sharpshooters lined the roofs. [New York Times]
  • Stock market prices stabilized because of aggressive buying by institutions after three days of unusually heavy trading and broad price declines. The Dow Jones industrial average, which was off about 10 points early in the session, closed down by 4.70 to 844.62. But stock gains outpaced declines. [New York Times]
  • Herman Talmadge was denounced by the Senate for mishandling his financial affairs. The vote against the Georgia Democrat, one of the highest ranking and most powerful members of the Senate, was 81 to 15, with four members replying "present". The Senator asserted he had won a "personal victory" because he had not been found guilty of any willful wrongdoing. [New York Times]
  • John Connally urged a Mideast policy that includes a broad plan to seek Israeli withdrawal from virtually all of the West Bank, Gaza Strip and Golan Heights and Palestinian self-determination in those areas. The former Governor of Texas and Republican presidential aspirant criticized policies of the Israeli government and the Carter administration. [New York Times]
  • Harmony between blacks and Jews is sought by the black leaders of two major civil rights organizations who are undertaking new initiatives for reconciliation. Efforts to heal the recent rift are to include public warnings against black overtures to the Palestine Liberation Organization. [New York Times]
  • Murders are soaring in Houston. Thus far this year there have been 509 homicides, nine more than were recorded in the nation's fifth largest city in all of 1978, a record year. The slayings, which are part of a general crime wave, have sent shudders through Houston and threaten to confirm its reputation as the most homicidal big city in the nation. [New York Times]
  • Deficient response to nuclear accidents was attributed to the Nuclear Regulatory Commission. The special panel hired by the commission to make an independent inquiry into the March 28 accident at the Three Mile Island reactor reported to the commission that its failure to improve the way it responds to such accidents remained seriously inadequate.

    A nuclear emergency plan was ordered by the federal government to be prepared within five weeks to protect residents within 10 miles of the Salem, N.J., generating plant in the event of an accident. [New York Times]

  • New vigor in the Carter campaign has resulted from the dramatic shift by Senator Edward Kennedy a month ago from non-candidate to near-candidate for the presidency in 1980. In the estimate of many politicians, President Carter's re-election efforts have been more aggressive than those of the Kennedy forces. [New York Times]
  • A town will buy a new heart for Fred Kelley, who used to work for the fire department in Framingham, Mass., before suffering two recent heart attacks. He was forced by legal obstacles to ask the town to pay for a transplant operation. The Framingham town meeting debated whether to appropriate up to $60,000 for the surgery and then voted 104 to 13 to do so. [New York Times]
  • The 1979 Nobel Prize for physiology and medicine was awarded to an American and a Briton for developing a revolutionary X-ray technique known as the CAT scan. It gives doctors an astonishingly clear look inside the human body and, in the six years since its introduction, it has been used in the diagnostic evaluation of the illnesses of millions of patients. The awards went to Allan Cormack and Godfrey Hounsfield. [New York Times]
  • Brutal repression In Cambodia under the Communist regime was epitomized in the ordeal of a Cambodian reporter. He was forced into the countryside after the Communists took over Phnom Penh in early 1975 and has just reached safety in Thailand after four and a half years of disguise, deprivation and, once, being beaten almost to death for stealing a pocketful of rice to stave off hunger. The beating of Dith Pran, who worked for the New York Times, occurred when the total daily food ration was one spoonful of rice. [New York Times]
  • American arms aid to Morocco may be provided in its conflict with guerrillas in the Western Sahara. The Carter administration is nearing a decision on whether to shift policy and supply Morocco with weapons and possibly counterinsurgency training. Morocco has urgently sought American aid to offset what it contends is Soviet and Algerian assistance to the guerrillas, who seek independence. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 844.62 (-4.70, -0.55%)
S&P Composite: 105.05 (-0.25, -0.24%)
Arms Index: 1.09

Total Volume47.53
* 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
October 10, 1979849.32105.3081.62
October 9, 1979857.59106.6355.57
October 8, 1979884.04109.8832.61
October 5, 1979897.61111.2748.25
October 4, 1979890.10110.1738.80
October 3, 1979885.15109.5936.47
October 2, 1979885.32109.5938.32
October 1, 1979872.95108.5624.98
September 28, 1979878.58109.3235.96
September 27, 1979887.46110.2133.12

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