News stories from Thursday October 30, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The hostage crisis was prolonged again as an open debate by the Iranian Parliament on the fate of the 52 Americans was put off. Hopes that Parliament might vote on the terms for releasing the hostages were dashed because a quorum could not be assembled. A quorum call was frustrated by legislators who oppose a resolution of the crisis before the American presidential election next Tuesday. [New York Times]
- Iraq acknowledged a setback in its seizure of Iranian territory. Baghdad said that its forces had not been able to move out of the oil port of Khorramshahr to join in the siege of Abadan nine miles away. [New York Times]
- A Reagan campaign aide resigned in the wake of published allegations that he used for personal gain the contacts he had made while he was an official in the Nixon administration. The campaign denied any improprieties on the part of Richard Allen, the chief foreign policy adviser to Ronald Reagan, and a source said that if Mr. Reagan wins the election, Mr. Allen will head the foreign policy section of the Reagan transition team. [New York Times]
- Mr. Reagan stepped up his criticism of President Carter's economic policies and competence, charging that the Carter presidency was "a tragic comedy of errors." Mr. Reagan campaigned in Texas, Arkansas, Louisiana and New Jersey. [New York Times]
- The President wooed garment workers at a traditional rally on Seventh Avenue in Manhattan. Mr. Carter told a generally restless audience of thousands of union members that nuclear arms control was "the overriding issue" in the campaign. [New York Times]
- A fight for political life is being waged by Representative John Jenrette, who was convicted of taking a $50,000 bribe from undercover F.B.I. agents in the Abscam investigation. Most constituents apparently believe that the three-term Democrat from South Carolina has done a good job in Congress, but polls now show him trailing badly behind a conservative Republican challenger. [New York Times]
- Harrison Williams was indicted by a federal grand jury on charges of bribery and conspiracy arising from the F.B.I.'s Abscam investigation. The Democratic Senator from New Jersey allegedly agreed to use his post to obtain government contracts for a titanium mine and processing facility in which he was to obtain a substantial concealed interest. He denied any wrongdoing. The indictment charged three others, including Mayor Angelo Errichetti of Camden. [New York Times]
- An optimistic economic report was released by the government. The index of leading indicators, which is intended to predict future trends, rose 2.4 percent in September, more than economists expected. It was the last economic measure to be issued before next Tuesday's election, and it provided new support for President Carter's campaign theme that an economic recovery is well underway. [New York Times]
- Concern about a water shortage rose as New York City officials said the recent dry spell had been more severe than the one that signaled the serious drought of the mid-1960's. The officials indicated that by late next week the city is likely to announce an alert that precedes a full emergency. [New York Times]
- Fears about Halloween violence are increasingly prompting American parents to keep their children at home. Across the country many parents express concern that the children might be abducted, given poisoned candy or be caught up in the violence that has marred recent celebrations. [New York Times]
- Wrongdoing on key air safety issues was attributed to the Federal Aviation Administration by a $50,000-a-year employee who asserted that the agency had assigned him to a "phony" job because of his charges. His chief contention was that the agency had refused to authorize the use of a "proven" airborne device for averting midair collisions. The agency said it had halted development of the device for technical and operational reasons. [New York Times]
- A major confrontation in Canada loomed between the federal government and the province of Alberta. Premier Peter Lougheed of Alberta, striking back at what he termed federal attempts to take control of the province's oil and gas resources, announced he would move to cut production gradually by up to 15 percent. [New York Times]
- Jamaica's government was defeated in national elections. Edward Seaga and the opposition Jamaica Labor Party, which advocates free enterprise, won a decisive victory over the socialist government of Prime Minister Michael Manley in a heavy turnout. [New York Times]
- Soviet training of Palestinian terrorists was detailed by the commander of a squad that killed six Jewish worshipers last May in a Sabbath ambush in Hebron. He said he had received six months of intensive military instruction in the Soviet Union. [New York Times]
- A terrorist bombing in Peking resulted in the death of 9 persons and injuries to 31, according to officials. A Chinese doctor who treated a number of the victims said he believed that the explosion was politically motivated. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 917.75 (-11.43, -1.23%)
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 29, 1980 | 929.18 | 127.91 | 37.20 |
| October 28, 1980 | 932.59 | 128.05 | 40.30 |
| October 27, 1980 | 931.74 | 127.88 | 34.44 |
| October 24, 1980 | 943.60 | 129.85 | 41.03 |
| October 23, 1980 | 939.51 | 129.53 | 49.19 |
| October 22, 1980 | 955.12 | 131.92 | 43.06 |
| October 21, 1980 | 954.44 | 131.84 | 51.30 |
| October 20, 1980 | 960.84 | 132.61 | 40.91 |
| October 17, 1980 | 956.14 | 131.52 | 43.96 |
| October 16, 1980 | 958.70 | 132.22 | 65.45 |