News stories from Tuesday January 13, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- American officials expressed concern that their hopes of freeing the 52 hostages by the time the Carter administration leaves office next Tuesday might be dashed by the latest indications of political disarray in Iran. Several officials said they suspected that a militant group was seeking to block an accord with Washington, and a senior official said that time was "running out."
A procedural delay in Teheran caused the postponement of parliamentary action on legislation required by Iran for the release of the American hostages, but officials said a vote would be taken tomorrow. The postponement resulted from the failure of enough members of a key panel to attend a meeting to approve the legislation.
[New York Times] - Clashes over the Watergate scandals dominated the Senate hearing on the nomination of Alexander Haig as Secretary of State. He and Democratic senators differed repeatedly and bitterly as he accused them of demanding that he admit a guilt he did not feel. The often tense session seemed to divide the Foreign Relations Committee along partisan lines. [New York Times]
- A major effort to help U.S. car makers was urged by the Transportation Department. Warning that sales of imports threaten national security, the department called for the industry, labor and the government to combat foreign auto makers, which have nearly doubled their share of the United States market in two years. A key element of the plan is for Washington to reach an accord with Japan that would set ceilings on car shipments to this country. [New York Times]
- Record frosts nave damaged citrus and vegetable harvests throughout Florida, The biggest losses were reported in the citrus belt, where an industry spokesman said that the 1980-81 orange harvest would be reduced 17 to 20 percent. The grapefruit crop was said to have suffered only slightly. [New York Times]
- A ban on a widely used insulation as a health hazard and possible carcinogen in humans has been proposed by the Consumer Product Safety Commission. More than 1,500 consumers have complained about vapors from the insulation, which is made of formaldehyde foam. The panel's Democratic members voted for the ban on future sales while the Republican members called for a warning label. [New York Times]
- The first net losses in casino revenue since the first casino opened in Atlantic City in 1978 were predicted by industry spokesman as New Jersey reported sharply reduced gross revenues for the six operating casinos last month. A corporation official said that the casinos were laying off employees, closing guest rooms, restaurants and lounges and halting expansion plans. [New York Times]
- The first black schools chief in Chicago is Ruth Love, who was hired by a vote of the school board after a long and controversial search. Dr. Love, now the superintendent of schools in Oakland, Calif., will receive about $125,000 a year for leading one of the largest school systems in the country. [New York Times]
- Iran's counteroffensive has failed to dislodge the Iraqis from the Iranian territory they seized three months ago, according to Arab and Western diplomats in Beirut. The envoys said they had received reports that Teheran's counter-assault had weakened its own military position and that the battle lines were again stalemated, with the Iraqis dug in. [New York Times]
- A conference on Namibia was snagged by a terse statement by the leader of the South African delegation. He said it was "premature" to start to put into effect a Western peace plan that was accepted nearly three years ago by both South Africa, which now governs the territory, and insurgents. The United Nations conference was designed to obtain agreement on a date for a cease-fire in the territory, which is also called South-West Africa. [New York Times]
- A top Soviet commander is in Poland. The unexpected arrival of the military leader of the Warsaw Pact was interpreted by some Western diplomats as an admonition to restive Polish workers and as support for Stanislaw Kania, Poland's top leader. [New York Times]
- A possible sale of U.S. arms to China was discussed by Frank Carlucci at a Senate hearing on his nomination as Deputy Secretary of Defense. The Carter administration has begun to sell non-lethal military equipment to Peking, but has strongly opposed any sale of weapons there. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 965.10 (-3.67, -0.38%)
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* |
| January 12, 1981 | 968.77 | 133.52 | 48.75 |
| January 9, 1981 | 968.69 | 133.48 | 50.18 |
| January 8, 1981 | 965.70 | 133.06 | 55.35 |
| January 7, 1981 | 980.89 | 135.08 | 92.88 |
| January 6, 1981 | 1004.69 | 138.12 | 67.40 |
| January 5, 1981 | 992.66 | 137.97 | 58.71 |
| January 2, 1981 | 972.78 | 136.34 | 28.86 |
| 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 |