News stories from Tuesday June 9, 1981

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

A continuing shift against busing to achieve school desegregation was reflected in a 265-to-122 vote of the House to prohibit the Justice Department from pursuing court cases that could lead to the busing of schoolchildren to promote racial integration. The Republican-controlled Senate is likely to pass a similar measure. [New York Times] Former Governor Ray Blanton of Tennessee was convicted in Federal District Court in Nashville of extortion, conspiracy and mail fraud in connection with the sale of liquor store licenses during his administration. [New York Times] Death penalty provisions for crimes such as treason, espionage and presidential assassinations would be resurrected under a bill approved by the Senate Judiciary Committee. [New York Times] Dozens of safe Democratic seats in the House of Representatives will be threatened by redistricting changes made necessary by population losses in big cities, according to a detailed district-by-district study released by the Census Bureau. The population shifts have left Republican congressmen with larger constituencies than those now held by Democrats. [New York Times] Israel defended its bombing of an Iraqi nuclear reactor, with Prime Minister Menachem Begin saying that "Israel will use all of the possibilities at its disposal" to halt other attempts by its enemies to make weapons of mass destruction. "There won't be another holocaust in history," he said at a news conference. "Never again, never again." [New York Times] The White House is working to decide what to do about Israel if it finds and reports to Congress within 48 hours that the Israelis violated their aid agreement by using American-made warplanes in its attack on Sunday against Iraq's nuclear reactor. An arms embargo, one of the available options, could threaten Israel's security. But to do nothing might cause the administration to lose credibility with the Arabs, a senior official said. [New York Times] Pressure for a nuclear policy that tightens restrictions on the movement of nuclear technology and fuel will probably increase on the Reagan administration as a result of Israel's decision to destroy Iraq's nuclear reactor, congressional officials said. [New York Times] Salvadoran immigrants have settled in the New York City metropolitan area in the tens of thousands over the last year and a half as life has become increasingly dangerous in their war-torn homeland. Community officials and church groups estimate that between 24,000 and 70,000 have arrived in the region since January 1980. [New York Times] In Poland, tighter controls were prom-ised by Stanislaw Kania, the Communist Party leader, who said Poland's allies were "fully justified" in their alarm over recent developments. Mr. Kania made his remarks at a meeting that was called to study a stern letter from the Soviet party. [New York Times] The United States is offering to let the Russians buy an additional six million metric tons of grain by Sept. 30. The American move was described as "an important first step in normalizing grain trade with the Soviet Union." Such trade was curtailed by President Carter after the Soviet military intervention in Afghanistan in 1979. [New York Times] Jews have had their lives threatened and their schools bombed by extremists in Argentina. On the other hand, they work and study in one of the most liberally integrated environments in the world, where there are no quotas, no separate Jewish and gentile companies and no religious identification. It is part of the complex and contradictory situation of the country's roughly 350,000 Jews. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 994.44 (-1.20, -0.12%)
S&P Composite: 131.97 (-0.27, -0.20%)
Arms Index: 1.02

	Issues	Volume*
Advances	682	17.52
Declines	873	22.82
Unchanged	358	4.26
Total Volume		44.60

* 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*
June 8, 1981	995.64	132.24	41.57
June 5, 1981	993.79	132.22	47.18
June 4, 1981	986.74	130.96	48.94
June 3, 1981	989.71	130.71	54.70
June 2, 1981	987.48	130.62	53.93
June 1, 1981	997.96	132.41	62.16
May 29, 1981	991.75	132.59	51.58
May 28, 1981	994.25	133.45	59.50
May 27, 1981	993.14	133.77	58.73
May 26, 1981	983.96	132.77	42.76