News stories from Friday January 2, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The latest American proposals for freeing the hostages were brought to Teheran by the Algerian intermediaries after four days of talks in Washington. The United States and Iran appear to have reached general agreement on the conditions for the hostages' freedom. The American terms reportedly call for the deposit of $5 billion to $6 billion in Iranian frozen assets -- the amount relatively unencumbered by lawsuits in the United States -- in the Algerian Central Bank. [New York Times]
- Prime lending rates were cut back by banks throughout the country to 20½ percent from a record 21½ percent. Economists and bankers said the reduction could be followed by a gradual decline in loan charges. [New York Times]
- The Republican Party wants to be sure it benefits from the 1980 census figures when the congressional and legislative redistricting battles are fought in the 50 state capitals this year. Recent Republican gains in state legislatures and governorships are expected to give the party greater influence on how the maps are drawn. [New York Times]
- The government will probably appeal the ruling of a federal judge in Kansas Wednesday that its detention of a Cuban refugee at a maximum-security prison was unlawful, officials said, Meanwhile, they said, other alternatives were being considered, The decision of the Kansas judge could affect about 1,800 detainees. [New York Times]
- Stringent new anti-pollution rules requiring iron and steel producers to reduce substantially their toxic discharges in waterways have been proposed by the Environmental Protection Agency. The agency is also proposing new rules for controlling acidic water and other wastes from coal mines and coal-cleaning plants. [New York Times]
- Allegations of prison brutality at a Florida state prison are being investigated by the U.S. Attorney's office in Jacksonville. The prisoner who made the allegations said he routinely administered beatings to fellow prisoners with the approval of prison officials at the Union Correctional Institution near Jacksonville and that one of the beatings resulted in the death of an inmate. [New York Times]
- The ski business is thriving in the East where record cold temperatures accompanied by snow have brought skiers back to the slopes. Another year like last year, a year without snow that was the worst season in the industry's history, would have been disastrous for ski resorts and others who profit from skiers and skiing. [New York Times]
- Choosing a school superintendent has entangled the troubled Chicago school system in another controversty and has divided the 11-member school board along racial lines. The board has been under intense pressure from the city's black communities to select a black for the $83,000-a-year post. [New York Times]
- Salvadoran leftists are almost ready to start a military offensive to overthrow the government, a guerrilla leader, identified only as Anna Maria, said. This was the second recent report that the leftists were going to fight. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 972.78 (+8.79, +0.91%)
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* |
| December 31, 1980 | 963.99 | 135.76 | 41.21 |
| December 30, 1980 | 962.03 | 135.33 | 39.75 |
| December 29, 1980 | 960.58 | 135.03 | 36.05 |
| December 26, 1980 | 966.38 | 136.57 | 16.13 |
| December 24, 1980 | 963.05 | 135.88 | 29.48 |
| December 23, 1980 | 958.28 | 135.00 | 55.25 |
| December 22, 1980 | 958.79 | 135.78 | 51.96 |
| December 19, 1980 | 937.20 | 133.70 | 50.67 |
| December 18, 1980 | 930.20 | 133.00 | 69.57 |
| December 17, 1980 | 928.50 | 132.89 | 50.81 |