News stories from Tuesday September 2, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The President assailed Ronald Reagan in a campaign visit to Independence, Mo., the hometown of former President Harry S. Truman. President Carter accused Mr. Reagan of resorting to "slurs and innuendo" against the South and also said the Republican presidential nominee sought to start "a massive arms race" against Moscow that would endanger world peace. [New York Times]
- Ronald Reagan promised auto workers that, as President, he would try to get Japan to curb its export of cars to the United States until the American auto industry recovered from its severe slump. On Monday, Mr. Reagan declared that he did not "think our problem is as much in Japan as in Washington, D.C." [New York Times]
- The Anderson drive gained in funding as the legal staff of the Federal Election Commission concluded that the campaign was potentially eligible for federal subsidies. The commission is to approve or reject the staff proposal on Thursday. A favorable ruling by the commission or a scheduled parallel decison by a federal court could enable the independent presidential campaign of John Anderson to borrow more than $13 million in advance of receiving the subsidies he would get if he qualifies by winning more than 5 percent of the vote this fall. [New York Times]
- Jacob Javits faces a strong challenge by Alfonse D'Amato in the Republican primary race for the Senate in New York, according to a New York Times poll. Mr. D'Amato, a politician little known outside his Long Island base, ran closer in the survey than many politicians ex-pected him to do. Among Republicans considered likely to vote, the poll showed Senator Javits ahead by 45 percent to 38 percent.
The two contenders for the Republican nomination for the Senate showed, often angrily, their differences on political philosophy, issues and personality in a 90-minute discussion. Senator Javits and Mr. D'Amato disagreed on nearly every issue.
[New York Times] - Joseph Bonanno was found guilty of conspiring to interfere with a federal grand jury's investigation of business operations of his two sons that prosecutors said involved "laundering" untaxed profits of illegal enterprises. It was the first felony conviction of the 75-year-old underworld leader. The maximum sentence is five years in prison and a $10,000 fine. [New York Times]
- A student editor was jailed briefly for contempt of court after he refused to give up subpoenaed photographs taken at demonstrations during a speech by a former Iranian diplomat at the University of Texas. The jailing was ordered by a county court judge presiding at a trial of 13 Iranians and three Palestinians charged with disrupting the campus meeting. [New York Times]
- California's inaction on pollution has led to retaliation by the Environmental Protection Agency. The agency took the first step toward cutting off more than $850 million in federal transportation and sewage treatment funds to the state because it has failed to enact a law requiring inspection of auto emission control systems. [New York Times]
- An advance in genetics research was reported by scientists at Yale University who have transplanted foreign genes into animal embryos. The scientists believe that in their "gene-splicing" research they successfully injected genes from viruses into newly fertilized mouse egg cells so that the "spliced" material became permanently incorporated with tissues of the growing embryo. [New York Times]
- The Polish miners' strike was settled with the early-morning signing of an agreement between workers and the government that granted all the strikers' demands. The signing, in Jastrzebie Zdroj in southern Poland, came after the miners' walkout spread to affect more than 150,000 workers, prompting the government to dispatch a Deputy Prime Minister to head its negotiating team. [New York Times]
- Prospective Western aid for Poland has been urged in messages sent by President Carter to Western European leaders, administration officials confirmed. They said Mr. Carter had asked the allies to propose ways in which the West could respond sympathetically to expected requests by Warsaw for large-scale economic help once the labor crisis is resolved. [New York Times]
- An income tax for foreigners in China will be imposed. It is the first graduated income levy established by Peking, but it is structured to exclude virtually all Chinese. At the same time, the government is tightening its birth control program by delaying the permissible marriage age by two years, requiring men to be at least 22 years old and women to be aged 20. [New York Times]
- A Spanish general was assassinated and his bodyguard was gravely wounded as they were driving to work in Barcelona. The assassins, who escaped, were believed to be members of a leftist terrorist group. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 940.78 (+8.19, +0.88%)
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* |
| August 29, 1980 | 932.59 | 122.38 | 33.50 |
| August 28, 1980 | 930.38 | 122.08 | 39.89 |
| August 27, 1980 | 943.09 | 123.52 | 43.97 |
| August 26, 1980 | 953.41 | 124.84 | 41.70 |
| August 25, 1980 | 956.23 | 125.16 | 35.39 |
| August 22, 1980 | 958.19 | 126.02 | 58.21 |
| August 21, 1980 | 955.03 | 125.46 | 50.77 |
| August 20, 1980 | 945.31 | 123.77 | 42.56 |
| August 19, 1980 | 939.85 | 122.60 | 41.93 |
| August 18, 1980 | 948.63 | 123.39 | 41.88 |