News stories from Monday June 30, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A far-seeing energy plan that assigns more money to solar energy and conservation, but also stresses with new force the administration's view that top priorities must go to the harnessing of the energy of the atom and coal, was made public by the Energy Research and Development Administration. The proposals were based on the premise that the country's energy consumption will double by the year 2000 and that major new sources of domestic supply must be developed to replace oil and natural gas, whose production had fallen from peaks of several years ago. The plan was ordered by Congress. [New York Times]
- While unemployment is running at 9.2 percent in the worst job market since the 1930s, thousands of jobs are going begging. Employers in many cities find it impossible to fill some jobs that, generally, require either special skills or few skills offering little status. The best employment opportunities are in Texas and Oklahoma, where the oil industry is prospering. [New York Times]
- Eight minutes before the Eastern Airlines crash at Kennedy International Airport a week ago, the pilot of another jet twice urged that the runway being used be changed because he had encountered a treacherous shift of air currents just before landing, according to tapes made public by the Federal Aviation Administration. The runway was not changed, and federal officials defended the decision. [New York Times]
- The Beame administration, despairing of 11th-hour financial aid from Albany, finally gave the go-ahead for massive municipal layoffs under a "crisis" budget. With the new fiscal year starting at midnight, New Yorkers faced the loss of more than 40,000 municipal workers -- including 5,000 policemen, 2,000 firemen and nearly 3,000 sanitation men. [New York Times]
- In a 6-to-3 decision, certain to arouse controversy among constitutional and criminal law experts, the Supreme Court ruled that a competent person accused of a crime has a constitutional right to refuse professional legal counsel and conduct his own defense. [New York Times]
- Indian policemen shot and killed several anti-government demonstrators during disorders in the eastern state of Bihar, travelers from Bihar said in New Delhi today. Bihar is the political stronghold of Prime Minister Indira Gandhi's most powerful political opponent, Jaya Prakash Narayan. No confirmation of the reports of the killings was forthcoming from the central government in New Delhi, which canceled without explanation a news conference that had been scheduled. [New York Times]
- The government radio and television in Lebanon said that a cabinet of prominent Moslems and Christians had been formed to halt factional fighting in which hundreds of people have been killed since April. Meanwhile, violence continued with heavy shooting and rocket and mortar fire between Christians and Moslems in Beirut. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 878.99 (+5.87, +0.67%)
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 27, 1975 | 873.12 | 94.81 | 18.82 |
| June 26, 1975 | 874.14 | 94.81 | 24.56 |
| June 25, 1975 | 872.73 | 94.62 | 21.61 |
| June 24, 1975 | 869.06 | 94.19 | 26.62 |
| June 23, 1975 | 864.83 | 93.62 | 20.72 |
| June 20, 1975 | 855.44 | 92.61 | 25.26 |
| June 19, 1975 | 845.35 | 92.02 | 21.45 |
| June 18, 1975 | 827.83 | 90.39 | 15.59 |
| June 17, 1975 | 828.61 | 90.58 | 19.44 |
| June 16, 1975 | 834.56 | 91.46 | 16.66 |