News stories from Friday September 5, 1975

Summaries of the stories the major media outlets considered to be of particular importance on this date:

A young woman in Sacramento, Calif., pointed a .45-caliber automatic pistol at close range at President Ford, who was there to address the California legislature, but a Secret Service agent saved Mr. Ford from possible harm by grabbing the gun and forcing it from the woman's hand. A White House spokesman said that the pistol contained a magazine with bullets in it but that there was no bullet in the weapon's chamber when it was seized. The woman was identified as Lynette Alice Fromme, a 26-year-old former associate of Charles Manson, the leader of a group convicted of murdering Sharon Tate, an actress, and six others in 1969. Mr. Ford delivered his speech, in which he urged a nationwide effort to curb rising violent crime. [New York Times] The White House said that Lynette Alice Fromme, who was charged with the attempted assassination of President Ford, was not on the Secret Service computer list of persons regarded as a potential danger to the President's security. The chief spokesman for the Secret Service, John W. Warner Jr., would not comment on how Miss Fromme was able to get so close to Mr. Ford with a gun despite all its security precautions, which have been increased many times since the assassination of President Kennedy. [New York Times] Employment in the nation continued to improve somewhat in August, mainly for experienced workers, but inflationary pressures that pushed wholesale prices up 0.8 percent got worse during the month, according to the Labor Department. The overall unemployment rate was unchanged from July at 8.4 percent of the total work force, but the number of employed persons, especially those on regular business payrolls, increased significantly. [New York Times] Officials of three municipal organizations said that mayors across the nation have expressed fear of the impact that a New York City default would have on their own cities, including an expected curtailment of programs. Meanwhile, Representative Henry Reuss, Democrat of Wisconsin and chairman of the House Banking and Currency Committee, proposed a seven-point program to help New York and other cities in financial trouble. His proposals include an emergency federal loan to New York City and immediate action by the Federal Reserve Board to accept any city notes and bonds now held by banks. [New York Times] More than a half dozen advertisers withdrew their commercials from last night's CBS telecast of a news documentary on hunting after receiving calls from the National Rifle Association and hunting groups around the country. The 90-minute documentary, "The Guns of Autumn," depicted hunting as a recreational activity and had graphic scenes of the killing of animals. CBS said the calls were "clearly a campaign to intimidate the advertiser." [New York Times] Two persons were killed and 63 injured when a bomb exploded shortly after noon in the crowded lobby of the Hilton Hotel in London. The Hilton was filled to capacity with 750 guests, many of them American tourists. The bombing was one of a number in London in the last two weeks, and some officials believe a fringe group of the Irish Republican Army was responsible. [New York Times] Gen. Vasco Goncalves, forced out as Premier of Portugal a week ago because of his pro-Communist leanings, was stripped of all authority. Facing the open defiance of the army and the air force as well as the opposition of the major political parties, General Goncalves on his own gave up his appointment as Chief of Staff of the armed forces. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 835.97 (-2.34, -0.28%)
S&P Composite: 85.62 (-0.58, -0.67%)
Arms Index: 1.45

	Issues	Volume*
Advances	491	2.80
Declines	811	6.71
Unchanged	462	2.17
Total Volume		11.68

* in millions of shares

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*
September 4, 1975	838.31	86.20	12.81
September 3, 1975	832.29	86.03	12.26
September 2, 1975	823.59	85.48	11.46
August 29, 1975	835.34	86.88	15.48
August 28, 1975	829.47	86.40	14.53
August 27, 1975	807.02	84.43	11.11
August 26, 1975	803.11	83.96	11.35
August 25, 1975	812.34	85.06	11.25
August 22, 1975	804.76	84.28	13.05
August 21, 1975	791.69	83.07	16.61