News stories from Monday December 10, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Washington accused Japan of having undercut American efforts to use economic pressure against Iran to gain the release of American hostages. A high White House official said that Japanese companies had rushed to buy Iranian oil that had been set for delivery to the United States before Washington halted oil imports from Iran. The official also charged that Japanese banks had "gone overboard" to help Iran cope with Washington's freeze on Iranian assets. [New York Times]
- The White House warned Iran that it would regard the "parading" of American hostages before an Iranian-appointed international court of inquiry with the same gravity as it would view any trial of the Americans. [New York Times]
- A captive Marine corporal, sitting in front of a big picture of Ayatollah Khomeini, said in a televised interview that all was well with the 50 hostages in the American Embassy in Teheran and he provided a few glimpses of their daily routine. He said the captives were being kept unaware of what was going on outside and were not allowed to talk with one another. [New York Times]
- The World Court was asked by the United States in a hearing to take "the quickest possible action" to insure the release of American hostages in Teheran. The hearing in The Hague was boycotted by Iran. [New York Times]
- The confrontation in Iran deepened. The dissident Ayatollah, Kazem Shariat-Madari, resisted pressure from Ayatollah Khomeini to dissolve the rebellious Moslem People's Party, which has been active in the ethnic minority region of Azerbaijan. [New York Times]
- Key opposition to President Carter was decided on by the executive board of the National Organization for Women, which will oppose his renomination or re-election no matter who is running against him. The board of the largest feminist organization in the country made the decision because members contended that he had not tried hard enough to win ratification of the proposed equal rights amendment and that abortion rights had been restricted in his administration. [New York Times]
- Miners' union unity was urged at the start of a national convention of the United Mine Workers of America. Seven years of turmoil have brought sweeping democratic reforms to the formerly autocratic union, but the erratic leadership of the principal reformer, who stepped down last month to avert his ouster as president, has left the union in a precarious position. Ten years ago, 76 percent of American coal was mined by members of the union, but the figure is below 50 percent today and is still declining. [New York Times]
- A renewal of American patriotism appears to have resulted from the Iranian crisis after years of disillusionment over the Vietnam War. The new crisis has apparently also strengthened nationalism and aspirations for a stronger national defense. [New York Times]
- Compensation to the Sioux Indians for an illegal seizure of reservation lands in 1877 would total $105 million. The government does not contest its liability for $17.5 million, the value that the Court of Claims placed on the land at the time it was seized, but it is challenging 102 years' worth of annual interest at the rate of 5 percent that the court ordered the government to pay. The Supreme Court agreed to hear the government's appeal. [New York Times]
- George Bush seeks gains in the South in his drive for the 1980 Republican presidential nomination. His campaign strategists hope for early gains elsewhere in the country to build toward a cluster of Southern primaries in March, but they acknowledge that in the South he is now behind Ronald Reagan, John Connally and Senator Howard Baker Jr. [New York Times]
- A challenge to Senator Jacob Javits in the Republican primary if he seeks a fifth term next year was threatened by three G.O.P. county leaders -- Joseph Margiotta of Nassau, George Clark of Brooklyn and Anthony Prudenti of Suffolk. Longtime discontent with the 75-year-old Senator among party leaders centers largely on ideology and accessibility. [New York Times]
- Libya seeks improved American ties, according to Muammar Qaddafi, the Libyan leader, who put aside threats to curtail oil exports to the United States because, he said, he had been assured that the Carter administration would chart "a more neutral posture" in the Middle East. In Washington, a spokesman said that no basic change in policy was in prospect. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 833.87 (+0.68, +0.08%)
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* |
| December 7, 1979 | 833.19 | 107.52 | 42.38 |
| December 6, 1979 | 835.07 | 108.00 | 37.51 |
| December 5, 1979 | 828.41 | 107.25 | 39.33 |
| December 4, 1979 | 824.91 | 106.79 | 33.53 |
| December 3, 1979 | 819.62 | 105.83 | 29.03 |
| November 30, 1979 | 822.35 | 106.16 | 30.48 |
| 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 |