News stories from Tuesday December 15, 1981

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

The Polish authorities moved quickly to halt strikes and to seize workers defying martial law. A clandestine information service of the Solidarity trade union said large numbers of troops and riot policemen had taken over major factories in Warsaw and other large cities. Sketchy reports in a country plunged into a communications blackout indicated that the authorities were meeting little active resistance. [New York Times] A strong warning to Poland against further acts of repression was issued by the Reagan administration. The White House said American "actions will be decided as developments warrant." A spokesman declined to elaborate, but officials indicated that stronger economic measures against Warsaw were a possibility. [New York Times] Moscow told Washington in a commentary in Tass that the declaration of martial law in Poland was none of the United States' business. The Soviet press agency also charged that senior Reagan administration officials had set "imperialist terms" for the resolution of Poland's problems. [New York Times] The 10 Common Market countries declared their "profound sympathy for the Polish people in this tense and difficult time." The Western European foreign ministers, meeting in London, also implicitly warned Moscow against any intervention. [New York Times] Nearly $200 billion for the military in the current fiscal year was approved by both the House and Senate as Congress moved rapidly toward the end of its 1981 session. The House also agreed to double the limit on outside income its members are allowed to earn, to $18,200 a year from $9,100. [New York Times] A new national newspaper will be published starting next fall. The Gannett Company, which owns and operates the nation's largest chain of newspapers, said that the general-interest, morning paper would be called "USA Today" and would be sold at newsstands Monday through Friday. The paper is to start publishing in Washington and is to be expanded to 14 other cities over six months. [New York Times] The plight of American Indians is worsening because of the recession and federal budget reductions. At the reservation of the Navajos, the largest tribe, unemployment in the last year has almost doubled, to more than 70 percent, at a time when alcoholism, child abuse and crime have soared. Navajo leaders say they will go to Washington after Christmas to urge President Reagan and Congress to restore funds. [New York Times] A leveling of Houston's growth appears to he in prospect after a spectacular expansion made it the nation's fastest growing big city in the 1970's. As with older cities, Houston's main expansionist phase seems to be ending after three decades of furious growth. The city is now expected to enter the prime of urban life, a time of eased growth and consolidation. [New York Times] The annexation of the Golan Heights poses a major problem for the Israeli government. Some widely respected elders among the 12,500 Arab Druse on the heights consider themselves Syrians and expressed anger and resentment over Israel's presumption in changing their nationality.Israel's unexpected annexation of the Golan Heights drew more criticism from high United States officials. Secretary of State Alexander Haig and Defense Secretary Caspar Weinberger were upset by the timing of the move and by what they felt was a lack of consideration for American sensitivities. [New York Times] White House policy on the Mideast has evolved from a series of crises rather than from planned direction, according to several high-ranking Reagan administration officials. The practical effect of the policy, they said, will be a continuing high level of support for Saudi Arabia and its requests for arms despite any consequent strains in relations with Israel. [New York Times] A Vatican statement on family life issued by Pope John Paul II called for strict enforcement of the traditional church doctrine on abortion, birth control, divorce and related issues. In a 175-page "apostolic exhortation" summarizing the findings of a 1980 Synod of Bishops, the Pope condemned the practice of artifical birth control as a "manipulation and degradation" of human sexuality. [New York Times] More military aid for El Salvador is planned by the Reagan administration. It informed a Senate hearing that it would train a battalion of 1,000 Salvadoran soldiers and at least 500 Salvadoran junior officers, probably in the United States. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 875.95 (+4.47, +0.51%)
S&P Composite: 122.99 (+0.21, +0.17%)
Arms Index: 0.75

	Issues	Volume*
Advances	790	21.93
Declines	741	15.42
Unchanged	431	6.78
Total Volume		44.13

* 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*
December 14, 1981	871.48	122.78	44.81
December 11, 1981	886.51	124.93	45.84
December 10, 1981	892.03	125.71	47.02
December 9, 1981	888.22	125.48	44.80
December 8, 1981	881.75	124.82	45.14
December 7, 1981	886.99	125.19	45.72
December 4, 1981	892.69	126.26	55.04
December 3, 1981	883.85	125.12	43.77
December 2, 1981	882.61	124.69	44.50
December 1, 1981	890.22	126.10	53.99