News stories from Friday June 6, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Ramsey Clark was denounced in Iran as a "latter-day Rudolph Hess," who was Hitler's chief deputy. Mr. Clark, a former Attorney General, defied President Carter's travel ban to attend an Iranian-sponsored conference on "United States intervention in Iran." He was was pictured as a possible secret agent of President Carter in a statement issued at the end of the four-day meeting. The statement also denounced the United States for what the conference leaders said was continued interference in Iran over 27 years. It did not mention the American hostages being held in Iran. [New York Times]
- Customs officials confiscated papers belonging to three Americans returning from the Iran conference on "United States intervention in Iran," the three said after arriving at Kennedy International Airport. An official said documents had been copied and returned to the three. [New York Times]
- The Senate killed the oil import fee, voting 68 to 10 to override a presidential veto and thus enacting legislation rejecting the fee. The House on Thursday voted by 335 to 34 to override the veto. The fee would have raised consumer gasoline prices by 10 cents a gallon. The Senate regarded the surcharge as a tax that would be politically difficult to back in an election year, and felt that its authorization by the President was an usurpation of congressional authority. [New York Times]
- The jobless rate increased again in May. It rose by eight-tenths of a percentage point, the same as the April increase, to 7.8 percent of the nation's total work force, the Bureau of Labor Statistics reported. The increase over the two-month period was the biggest in the nation's history, the bureau said, and it indicated that the recession would be deeper and longer than had been expected.
Producer prices rose by only three-tenths of one percent in May, the government said. It was the smallest one-month rise in 32 months in the Producer Price Index for finished goods, a sign that there will be a further slowdown in retail price inflation.
[New York Times] - Bert Lance will not be retried, with two co-defendants, on banking charges, the Justice Department announced. The department said it would move in Federal District Court in Atlanta next week to dismiss three remaining counts against Mr. Lance, President Carter's former budget director, and counts against his co-defendants. The three had recently been cleared of a series of other charges. [New York Times]
- An unmarried woman may sue for redress when she separates from a man she had been living with. To receive a share of his assets, she must show that they had an "express" agreement, the New York State Court of Appeals ruled. California is the only other state which has given women the right to sue for a share of the assets of a former partner. The New York court acted in the case of Frances Morone, who had sued for financial support from the man she said she lived with for 25 years. [New York Times]
- Moscow will have far fewer visitors attending the Olympic Games this summer than had been expected before President Carter pressed for an international boycott. Soviet officials had planned on 300,000 foreign tourists. Moscow's Mayor and others now say that 70,000 are expected. [New York Times]
- Submission of the arms pact to the Senate is still an objective of the administration regardless of the Soviet intervention in Afghanistan, secretary of State Edmund Muskie said. Responding to former Secretary of State Cyrus Vance's call on Thursday for action on the pact this year, he said that the administration was "committed to the SALT process and we have under consideration strategies for pursuing that objective." [New York Times]
- The P.L.O. reversed a policy statement calling on Palestinians to settle for nothing less than the destruction of Israel, issued by Al Fatah, the organization's most powerful faction, last Sunday at the end an 11-day meeting in Damascus. P.L.O. representatives said the statement was "misunderstood" and that Al Fatah would accept a political solution that would establish an independent Palestinian state on territories recovered from Israel. [New York Times]
- Rabbi Meir Kahane must stay in prison in Israel without being told why, the Supreme Court in Jerusalem ruled, saying that the evidence against him and an associate, indicating "a plot to attack Arabs," was so serious that no moderation of the prison term could be considered. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 861.52 (+2.82, +0.33%)
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* |
| June 5, 1980 | 858.70 | 112.78 | 49.07 |
| June 4, 1980 | 858.02 | 112.61 | 44.17 |
| June 3, 1980 | 843.77 | 110.51 | 33.15 |
| June 2, 1980 | 847.35 | 110.76 | 32.71 |
| May 30, 1980 | 850.85 | 111.24 | 34.81 |
| May 29, 1980 | 846.25 | 110.27 | 42.00 |
| May 28, 1980 | 860.32 | 112.06 | 38.57 |
| May 27, 1980 | 857.76 | 111.40 | 40.80 |
| May 23, 1980 | 854.10 | 110.62 | 45.79 |
| May 22, 1980 | 842.92 | 109.01 | 41.02 |