News stories from Friday November 30, 1979

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

Washington expects the Shah to leave the United States, a State Department announcement made clear. Following Mexico's refusal to allow the Shah to return there, the administration was involved in intensive efforts to find another refuge for him. The Shah was "quite distressed" over Mexico's refusal to allow him to return, a spokesman said. He still intended, according to the spokesman, to leave the United States, hoping that his departure would "end the tragic situation in Iran."The Shah is welcome in Egypt, President Anwar Sadat emphasized in talking to reporters. He said that he had instructed the Egyptian Ambassador in Washington to renew the standing offer with the Shah and the Carter administration. [New York Times] Iran will not be represented when the Security Council of the United Nations meets to consider the case of the American hostages in Teheran, the new Foreign Minister, Sadegh Ghotbzadeh, announced. The only basis for negotiations over the hostages, he said, is the return of the Shah to Iran. The charge d'affaires of the captured American Embassy, Bruce Laingen, and two other embassy officials, who have been in the Iranian Foreign Ministry since the embassy was seized Nov. 4, are not in any sense hostages, Mr. Ghotbzadeh said at a news conference. He said they were free to go at any time, but the only problem was "providing security from the Foreign Ministry to the airport." [New York Times] President Carter canceled a trip through six states that he was to begin next week to officially start his re-election campaign. He will instead concentrate on the Iranian situation. Meanwhile, his campaign committee, which has been trying unsuccessfully to buy 30 minutes of prime time on television networks for Mr. Carter's official announcement Tuesday that he will run again, purchased a five-minute spot on Tuesday night from CBS. The networks have sued to overturn a ruling by the Federal Communications Commission that they must sell the campaign a half hour of prime time. [New York Times] An executive order curbing paperwork was signed by President Carter, who is concerned that new environmental and energy laws might place too heavy a burden on Americans, who, the administration calculates, took 913 million hours last year to fill out 4,900 kinds of government reporting forms. [New York Times] Zeppo Marx died in Palm Springs Calif. He was 78 years old and the only surviving member of the four Marx Brothers comedy team. [New York Times] Margaret Thatcher failed to persuade Britain's partners in the European Economic Community to approve a reduction of $2.2 billion in Britain's net contribution to the community in 1980-81. It appeared to be Prime Minister Thatcher's biggest setback since taking office in May. [New York Times] The United States Court of Appeals upheld President Carter's abrogation of the mutual defense treaty between the United States and the Chinese Nationalists on Taiwan without Congress' consent. It overturned a decision by a lower court that the consent of two-thirds of the Senate was required. The lawyer for Senator Barry Goldwater and 23 other legislators who brought the suit said an appeal would be filed with the Supreme Court. [New York Times] An end to the schism between the Roman Catholic Church and the Eastern Orthodox churches was pledged by Pope John Paul II and Dimitrios I, the Ecumenical Patriarch of Eastern Orthodoxy, in a joint declaration in Istanbul. They promised to "hasten the day of full communion between the Catholic Church and the Orthodox church," ending nearly 1,000 years of separation. A joint commission will discuss their remaining disagreements. [New York Times] Airlines are adding seats at the expense of legroom to keep up with the demand for low-cost air travel. As many as 38 additional seats have been installed in jumbo jets, yet all remain well within the passenger limits certified by the Federal Aviation Administration, but there are complaints about cramped cabins and questions have been raised about safety. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 822.35 (-9.39, -1.13%)
S&P Composite: 106.16 (-0.65, -0.61%)
Arms Index: 1.06

	Issues	Volume*
Advances	639	10.56
Declines	892	15.67
Unchanged	384	4.25
Total Volume		30.48

* 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 29, 1979	831.74	106.81	33.56
November 28, 1979	830.46	106.77	39.69
November 27, 1979	825.85	106.38	45.14
November 26, 1979	828.75	106.80	47.94
November 23, 1979	811.77	104.67	23.30
November 21, 1979	807.42	103.89	37.02
November 20, 1979	809.22	103.69	35.01
November 19, 1979	815.27	104.23	33.09
November 16, 1979	815.70	103.79	30.06
November 15, 1979	821.33	104.13	32.37