News stories from Thursday January 14, 1982

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

A death toll of 78 was confirmed from Wednesday's crash of the Boeing 737 airliner in Washington. Only five of the 79 passengers were listed as survivors. Emergency crews began removing the jetliner and its dead passengers from the ice-crusted Potomac as investigators focused on the question of whether ice on the plane had prevented it from taking off correctly or affected its flight path. Safety experts pondering the cause of the airliner's crash believed that the likeliest possibility was formation of ice on the plane. [New York Times] There were brave men among the living and the dead in the airliner's crash. They included a still unidentified man who vanished under the ice after passing a lifeline from a helicopter to five survivors. [New York Times] A second blanket of snow covered much of the Eastern United States, causing severe hardship in the South and killing scores of people. Up to four inches of new snow was anticipated in the New York metropolitan area atop the more than six inches that fell in the first storm. [New York Times] The President extolled sacrifice in seeking out private sector substitutes for government welfare programs. Addressing business and civic leaders in Manhattan, Mr. Reagan asserted that his policies were not responsible for the recession and suggested that thrift and harder work could end the slump "faster than expected." [New York Times] Republican candidates are menaced by an unemployment rate of 8.9 percent, in the view of both Democratic and Republican leaders. They say that thousands of Republicans, incumbents and challengers alike, face an uphill battle in the 1982 elections because of joblessness, which has provided a unifying theme for otherwise divided Democrats. [New York Times] A drive to control health care costs was announced. The major voluntary effort brings together leaders of six national business, labor and medical organizations and includes several groups that usually do not agree with one another. [New York Times] The production of a new nerve gas for chemical warfare appears to be in prospect, according to administration and congressional officials. They said that administration aides had laid the groundwork for starting the program and for asking Congress for a big increase in the budget for such weapons, and all that remains is for Mr. Reagan to make a decision. [New York Times] The equal rights plan was aided by the Justice Department, which suggested that the Supreme Court might vacate a lower court's ruling on the ground that the case was decided prematurely, Such action would have the effect of speedily wiping off the books a decision that backers of the proposed equal rights amendment view as a serious obstacle to ratification. [New York Times] Martin Luther King Jr. is being honored today, the 53rd anniversary of his birth. As many black Americans reflect on the dream of equality for all that was championed by the civil rights leader, some question whether it will ever become a reality. [New York Times] Instructions for opposing martial law in Poland were issued by three leaders of the suspended union Solidarity who are in hiding. The typewriten leaflet called for 12 actions, including "passive resistance" in the workplace. [New York Times] An account of the fighting in Gdansk in the days following the imposition of martial law Dec. 13 was given by a young worker just arrived in Warsaw. The worker is now a courier for a resistance movement. [New York Times] A severe Soviet food shortage has prompted widespread grumbling and an occasional protest. Even in a state food store in Moscow, the favored allotment center, a visitor found only pitiful cuts of meat, rationed butter and rotten vegetables. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 842.28 (+3.33, +0.40%)
S&P Composite: 115.54 (+0.66, +0.57%)
Arms Index: 0.61

	Issues	Volume*
Advances	723	23.75
Declines	662	13.23
Unchanged	466	5.96
Total Volume		42.94

* 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*
January 13, 1982	838.95	114.88	49.13
January 12, 1982	847.70	116.30	49.80
January 11, 1982	850.46	116.78	51.90
January 8, 1982	866.53	119.55	42.04
January 7, 1982	861.78	118.93	43.42
January 6, 1982	861.02	119.18	51.50
January 5, 1982	865.30	120.05	47.50
January 4, 1982	882.52	122.74	36.75
December 31, 1981	875.00	122.55	40.78
December 30, 1981	873.10	122.30	42.96