News stories from Friday July 25, 1980

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

Billy Carter's involvement with Libya was discussed by Attorney General Benjamin Civiletti with President Carter on June 17, Mr. Civiletti said. The Attorney General said that the conversation was a "brief, informal exchange" and maintained that he had not discussed the Justice Department investigation with the President. The Attorney General had said previously that he never spoke about the issue with the President or any White House aides. Mr. Civiletti said that at the June meeting he had told the President that he could not discuss the Justice Department's investigation of his brother, but he did tell the President that his brother was "foolish" for not having registered long ago as a foreign agent for Libya. [New York Times] Alternatives to President Carter as the Democratic Party's presidential nominee, as well as his rival, Senator Edward Kennedy, are wanted by about 40 disgruntled Democratic members of Congress who want to throw open the Democratic, convention. "What we're looking for is an alternative to both," said Representative Jerome Ambro of Long Island, who is leading the open-convention move. [New York Times] Chattanooga withdrew police patrols from the area where seven officers were shot and wounded from ambush. Thursday night in response to a plea by the Rev. Jesse Jackson for a low profile. Volunteer patrols of black leaders took over the policing the black neighborhood around Alton Park, where the disturbances began Tuesday. Violence broke out when an all-white jury acquitted two Ku Klux Klan members who had been charged with shooting four black women with birdshot, and reduced charges against another Klan member. [New York Times] Draft registration was going ahead as planned, officials of the Selective Service System said, but they said there was no indication of how many men -- those born in 1960 were required to register this week, while men born in 1961 are required to sign up next week -- did not register. Statistics indicating whether there is significant resistance will not be available for 60 days, they said. [New York Times] Federal agents are accused of harassment in carrying out an investigation in California of possible wrongdoing by officials of the Immigration and Naturalization Service. Under scrutiny are members of the agency's office in Fresno, where the resident-alien status of 70 recent immigrants is being reconsidered. [New York Times] The United States failed to persuade representatives of the Common Market to vote against an Arab-sponsored resolution pending in the General Assembly of the United Nations urging the creation of a Palestinian state, Western diplomats said. The nine Common Market members have indicated that they will abstain. [New York Times] Sanctions against Bolivia were ordered by the Carter administration to protest the July 17 coup that overthrew the civilian government of interim President Lydia Tejada. The United States military training mission in Bolivia will be withdrawn, economic aid projects will be canceled and the embassy staff in La Paz will be "substantially" reduced, Secretary of State Edmund Muskie said. [New York Times] Canada faced a political crisis as Prime Minister Pierre Trudeau and Premier Peter Lougheed of Alberta broke off talks on sharing the benefits of domestic oil and gas production. The two leaders, who have divergent views on the powers and responsibilities of the federal and provincial governments, agreed only that they were so divided on the energy issue that further talks were useless. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 918.09 (-8.02, -0.87%)
S&P Composite: 120.78 (-1.01, -0.83%)
Arms Index: 1.23

	Issues	Volume*
Advances	469	8.72
Declines	1,047	24.01
Unchanged	375	3.52
Total Volume		36.25

* 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*
July 24, 1980	926.11	121.79	42.42
July 23, 1980	928.58	121.93	45.90
July 22, 1980	927.30	122.19	52.23
July 21, 1980	928.67	122.51	42.74
July 18, 1980	923.98	122.04	58.04
July 17, 1980	915.10	121.44	48.87
July 16, 1980	904.44	119.63	49.13
July 15, 1980	901.54	119.30	60.90
July 14, 1980	905.55	120.01	45.48
July 11, 1980	891.13	117.84	38.31