News stories from Thursday August 27, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A new battle on federal education aid is expected to begin in Congress next month. A Democratic Representative accused the White House of planning to seek big cuts in aid for disadvantaged children in inner-city schools beyond the cuts contained in the budget authorized last month. The White House denied the charge, but emphasized that billions of dollars in precise savings remained to be enacted, and that President Reagen would press for the lower appropriations he initailly proposed last March. [New York Times]
- Canadian controllers requested a halt in all flights between Canada and the United States, citing more than three dozen incidents to back their contention that flying conditions were unsafe because of the 24-day-long strike by American controllers. The Ottawa government denied the request by the 2,000-member union. [New York Times]
- An anti-infestation drive against the crop-destroying Mediterranean fruit fly was stepped up in Los Angeles County. Helicopters began spraying the pesticide malathion in the suburbs, and an official said that a 165-square-mile area was expected to be quarantined tomorrow. [New York Times]
- An integration suit was dropped in Houston by the Justice Department. It decided not to appeal a court order dismissing its effort to force cross-district school desegregation between the city and 22 suburbs. [New York Times]
- Blacks have more faith in government but less faith in politicians than whites do, and are remaining liberal and Democratic as whites are becoming more conservative and Republican. But the liberalism of black Americans centers on economic issues and does not extend to such ideological matters as abortion or school prayer. These conclusions emerge from an examination of five years of New York Times/CBS News polls and from interviews with leading authorities. [New York Times]
- A ship treasure hunt was pressed off Nantucket Island. Deep-sea divers, fighting high seas and tons of debris, worked to bring to the surface a safe from the Andrea Doria, which sank 200 feet to the ocean bottom in 1956. The adventurers were also trying to find a second safe and a controversial water-tight door that might explain why the Italian liner sank so fast. [New York Times]
- A sharp drop in private philanthropy is in prospect because of drawbacks to charitable contributions contained in the new Tax Act, according to an analysis of the law's impact on the nation's 300,000 non-profit organizations. The analysis said that the gifts would decline by at least $18 billion in the next four years. [New York Times]
- Jimmy Carter praised the policy of the Reagan administration toward China as "compatible" with his own. The former President, who is visiting China, said that, if he were still in the White House, he would also have offered to sell defensive weapons to the Chinese as President Reagan has proposed. [New York Times]
- Washington warned North Korea of "serious concern" over the firing of a North Korean antiaircraft missile at an Air Force high-flying reconnaissance craft Wednesday and vowed that the United States would take all steps necessary to assure the safety of its pilots and planes. [New York Times]
- Angola called for an urgent meeting of the United Nations Security Council to demand an immediate withdrawal of South African troops from Angolan soil. Britain and France have condemned the incursion, but the Reagan administration has said violence in southern Africa must be viewed "in its full context." [New York Times]
- Truce violations in Lebanon are being committed by the Palestinians, according to Prime Minister Menachem Begin of Israel. He charged that the Palestinians had deployed 18 Soviet-made artillery batteries since the cease-fire took effect July 24. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 889.08 (-10.18, -1.13%)
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* |
| August 26, 1981 | 899.26 | 124.96 | 39.98 |
| August 25, 1981 | 901.83 | 125.13 | 54.60 |
| August 24, 1981 | 900.11 | 125.50 | 46.74 |
| August 21, 1981 | 920.57 | 129.23 | 37.67 |
| August 20, 1981 | 928.37 | 130.69 | 38.27 |
| August 19, 1981 | 926.46 | 130.49 | 39.39 |
| August 18, 1981 | 924.37 | 130.11 | 47.26 |
| August 17, 1981 | 926.75 | 131.22 | 40.84 |
| August 14, 1981 | 936.93 | 132.49 | 42.57 |
| August 13, 1981 | 944.35 | 133.51 | 42.44 |