News stories from Friday November 16, 1979

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

If the Shah leaves the United States for a country other than Iran, "the hostages will find themselves in more difficult conditions," said a spokesmen for their captors at the American Embassy in Teheran. Mexico is reported ready to receive the Shah in about a week. It has closed its embassy in Teheran, and it was speculated that the closing was in preparation for the Shah's return to Mexico. [New York Times] Deportation threatens 150 Iranians in Connecticut and New Jersey if they do not follow orders by immigration authorities to leave the country in 30 days. In addition, several thousand Iranian students in the New York region have been ordered to show valid academic credentials or be deported. Visas of Iranians across the country are being scrutinized by immigration officials in response to the seizure of the American Embassy in Teheran.Eight Iranians carrying arms were arrested by federal agents at the Baltimore-Washington International Airport as they were about to board a Trans World Airlines plane to New York City. According to authorities, they were carrying rifles, telescopic sights and ammunition in three suitcases. [New York Times] Thirty-four governors were called on by President Carter and his top energy officials to help in oil conservation, but some of them expressed concern over what they said was the lack of federal progress in speeding production of alternate fuels. [New York Times] American Airlines paid a $500,000 fine for improper maintenance of DC-10 jumbo jets, including the plane that crashed in Chicago last May, killing 273 people. The Federal Aviation Administration said the fine was the largest ever imposed by the agency. [New York Times] An emergency money bill was quickly passed by Congress, just before the House was to begin a 10-day recess. The bill was approved when a compromise was reached on the use of federal funds for abortions. The Senate interrupted a session to approve the money bill by a vote of 57 to 23. The bill was approved in the House by a standing vote of 155 to 63. [New York Times] A libel trial in Kansas City represents another serious attack on affirmative action efforts to achieve desegregation, according to civil rights organizations, which have provided aid for the defendants. A former department chairman at the Kansas University Medical Center is suing four black former students, alleging that his professional standing had been damaged as a result of a complaint they had made, accusing him of racial discrimination. [New York Times] John Connally will attempt to crush Ronald Reagan's bid for the Republican presidential nomination at Florida's Republican convention in Kissimmee on Sunday, where he will drum up votes in the final straw poll of the year. He contends that the race is "neck-and-neck." Mr. Reagan, who said that the poll was "absolutely meaningless" is expected to be there. [New York Times] A political scandal broke out in London when it was disclosed that Anthony Blunt had been told in advance by the government that he was to be identified in Parliament as a former Soviet spy, the "fourth man" in the Burgess-Maclean spy case of 25 years ago. Mr. Blunt immediately dropped from sight. A government spokesman, stressing that Mr. Blunt was not a fugitive from justice, said the warning was "common courtesy." But many people were shocked by the decision, and by the disclosure that Lord Hume, who was Prime Minister in 1969 when Mr. Blunt secretly confessed to espionage, had not been told of the confession or of the government decision to grant him immunity from prosecution. [New York Times] Harsh words marred the final phase of the London talks on Zimbabwe Rhodesia. Lord Carrington, the British Foreign Secretary, outlined his government's plan for quickly ending the fighting in the country so that all-party elections can follow soon, possibly by February. Two issues provoked the rancor: the length of time that will be required to establish a cease-fire and the standing of the guerrilla forces during the electoral campaign. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 815.70 (-5.63, -0.69%)
S&P Composite: 103.79 (-0.34, -0.33%)
Arms Index: 0.94

	Issues	Volume*
Advances	587	10.90
Declines	848	14.80
Unchanged	442	4.36
Total Volume		30.06

* 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
Date	DJIA	S&P	Volume*
November 15, 1979	821.33	104.13	32.37
November 14, 1979	816.55	103.39	30.95
November 13, 1979	814.08	102.94	29.24
November 12, 1979	821.93	103.51	26.66
November 9, 1979	806.48	101.51	30.06
November 8, 1979	797.61	100.30	26.27
November 7, 1979	796.67	99.87	30.83
November 6, 1979	806.48	101.20	21.96
November 5, 1979	812.63	101.82	20.46
November 2, 1979	818.94	102.51	23.68