News stories from Monday October 19, 1981

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

A widening impact of the recession now underway was cited by a Reagan administration economist who acknowledged that unemployment, which was 7.5 percent last month, would likely rise to more than 8 percent this winter. Such an increase was seen as intensifying the struggle in Congress over how much non-military spending should be cut. [New York Times] Increasing flight delays prompted the government to impose strict new rules for private pilots seeking to use the strike-depleted air traffic control system. Corporate and other private craft were placed under a quota system requiring advance reservations for trips to be made under instrument flight rules. Commercial airlines have been operating under quotas since the controllers struck on Aug. 3, and will be further curtailed on Dec. 1. [New York Times] Steps to halt boats carrying Haitians and drugs to this country, increased only a week ago, would be severely curtailed if the Reagan administration's 12 percent across-the-board budget cut for federal agencies takes effect now, the Coast Guard Commandant announced. [New York Times] Reports that Richard Nixon's trip to four Arab countries last week had caused friction in the Reagan administration led the White House to play down its involvement in the journey. But officials acknowledged that the former President had received briefing material and help from the State Department. [New York Times] The victory of Andreas Papandreou in Greece's parliamentary elections jolted the Reagan administration, but it decided to seek to avoid any early confrontation with the Socialist leader. His platform calls for the closing of American military bases in Greece and Greek withdrawal from NATO. [New York Times] The assassins of Anwar Sadat belong to "a limited" group of "fanatic" plotters, according to President Hosni Mubarak of Egypt. In an interview, Mr. Mubarak said that the plotters were being arrested. Egypt announced the dismissals of 30 officers and 104 enlisted men. They have been transferred to civilian jobs because of suspected "extremist religious leanings." [New York Times] The American and French Presidents hailed the British surrender at Yorktown in 1781 as the event that established the tradition of free, representative government in the West. But in careful, polite language the two leaders also indicated their differences over how the ideals of the American Revolution applied to the present. President Francois Mitterrand suggested that Washington should provide more support for the third world, while President Reagan stressed his goals of a smaller government and a stronger military. [New York Times] A costly food-gorging habit is epidemic among female college students, threatening their health and forcing some into bankruptcy, stealing and even prostitution, according to psychotherapists. They say that the prolonged feasting interspersed with purging nearly always started with a stringent diet to lose weight. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 847.13 (-4.56, -0.54%)
S&P Composite: 118.98 (-0.21, -0.18%)
Arms Index: 0.73

	Issues	Volume*
Advances	610	17.55
Declines	899	18.95
Unchanged	393	5.09
Total Volume		41.59

* 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*
October 16, 1981	851.69	119.19	37.80
October 15, 1981	856.26	119.71	42.82
October 14, 1981	850.65	118.80	40.25
October 13, 1981	865.58	120.78	43.07
October 12, 1981	869.48	121.21	30.05
October 9, 1981	873.00	121.45	50.06
October 8, 1981	878.14	122.31	47.08
October 7, 1981	868.72	121.31	50.02
October 6, 1981	856.26	119.39	45.45
October 5, 1981	859.87	119.51	51.28