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Friday November 9, 1979
. . . where the 1970s live forever!

News stories from Friday November 9, 1979

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

  • The release of the Americans in Teheran was urged "without delay" by the Security Council of the United Nations, which also expressed its "profound concern," but apart from calling on Secretary General Kurt Waldheim to "use his good offices," the council did not propose concrete measures to resolve the crisis. The statement followed a session called at the request of the United States, and also said that the Council "did not wish to interfere in the internal affairs of any country."

    Anti-American feeling In Iran rose as thousands of Moslems in Teheran chanted "Death to America!" outside the American Embassy. After prayer services, Iranians, alone or in groups, went to the embassy to vent their hatred. An Ayatollah who had been imprisoned by the Shah called on the world's Moslems to "revolt against American imperialism." [New York Times]

  • President Carter asked Americans to restrain their anger and support the administration's efforts to help obtain the release of the American hostages in Teheran through quiet diplomacy. The White House issued a statement containing the President's appeal after Mr. Carter met with his principal advisers and friends and relatives of some of the hostages. [New York Times]
  • Congress approved an energy bill that will provide funding for most of President Carter's energy program. The bill will provide $19 billion for the development of synthetic fuels, $1.3 billion in fuel-aid assistance this winter for the poor and $1 billion for solar energy and conservation programs. [New York Times]
  • A $450,000 fine for a utility company in Michigan that neglected for 18 months to close a valve in a reactor containment building has been proposed by the Nuclear Regulatory Commission. It is the largest fine ever set by the commission, and reflects the length of the period that the Consumers Power Company of Jackson, Mich. was found to be at fault. [New York Times]
  • President Carter warned cabinet members and agency heads in a terse note to "hold down expectations" for federal spending next year and to avoid making any spending "commitments" that could meet with a presidential veto. [New York Times]
  • A naval buildup is planned by the administration to deal with emergencies, and provisions for it and an expansion of air and sea transport will be made in the military budget proposals for the next fiscal year. [New York Times]
  • Hazing antics at West Point were becoming malicious, degrading and, in some cases, sexist, Gen. Andrew Goodpaster, the superintendent of the United States Military Academy, conceded. He also acknowledged that female cadets at last summer's military maneuvers had been ordered to kill chickens by biting the tendons of their necks. He said that an investigation of charges made by two cadets, a man and woman, who left after being harassed and threatened, found that "a significant number of incidents did occur." [New York Times]
  • Rosalyn Carter visited a camp for Cambodian refugees in Thailand, and said that she when returns home she "wants to do all I can to mobilize our people to see that we do all we possibly can to help the situation here." She went to Thailand at the President's request, and toured the hospital and orphanage tents of a camp holding 30,000 Cambodians. "Emotionally, it's overwhelming," she said. [New York Times]
  • Approval of the arms pact was voted by the Senate Foreign Relations Committee, 9 to 6, and it recommended that the Senate consent to ratification. The margin of victory for the administration was smaller than the treaty's supporters had hoped for, and the White House counsel, Lloyd Cutler, was overheard as saying that the vote was "a disappointment." The narrowness of the vote indicated that ratification was doubtful. [New York Times]
  • Elections will be held in South Korea soon, an announcement by Acting President Choi Kyu Hah said. Mr. Choi said that the successor to President Park Chung Hee should then revise the "revitalizing" constitution promulgated by Mr. Park in 1972, which gives the President sweeping powers, "as soon as realistically possible and conduct new elections in compliance with the amended constitution." [New York Times]
  • China's ideological differences with the Soviet Union may be closer to being patched up, leading to greater rapport between them in their current talks in Moscow. Diplomats in Peking say there are reports in Moscow that neither country will attack the other's ideology or question the legitimacy of the other's system. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 806.48 (+8.87, +1.11%)
S&P Composite: 101.51 (+1.21, +1.21%)
Arms Index: 0.48

Total Volume30.06
* 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
November 8, 1979797.61100.3026.27
November 7, 1979796.6799.8730.83
November 6, 1979806.48101.2021.96
November 5, 1979812.63101.8220.46
November 2, 1979818.94102.5123.68
November 1, 1979820.14102.5725.89
October 31, 1979815.70101.8227.78
October 30, 1979823.81102.6728.89
October 29, 1979808.62100.7122.72
October 26, 1979809.30100.5729.67

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