News stories from Monday June 25, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Gen. Alexander Haig survived an assassination attempt when a bomb exploded near his car, lifting it into the air and gouging a deep hole in the street. The blast, set off by remote control, damaged a security car trailing the limousine of the NATO commander in Casteau, Belgium. The general was not hurt, but three guards in the second car suffered slight injuries. The commander said he had received threats from terrorists for a year. [New York Times]
- The gasoline shortage is spreading from the Northeast to other parts of the country. In many regions service stations are closing earlier and more are shut completely at least one day each weekend. The ridership of several metropolitan transit systems has increased dramatically. [New York Times]
- The gasoline shortage led Governor Carey to announce plans to use part of New York state's emergency supply for July this week. He termed the shortage "critical," particularly in the New York City area. About 80 percent of service stations in the metropolitan region were closed by late this afternoon as very long lines formed around others. Governor Byrne of New Jersey and Governor Grasso of Connecticut said they would seek additional allocations.
Motorists are switching to mass transit because of the lack of gasoline in the New York metropolitan area. The shift involves perhaps 10 percent of commuters and other travelers.
[New York Times] - A state of emergency was declared in Bristol Township, Pa. after two nights of rioting by 2,000 residents who joined a protest by truckers demanding more fuel and lower prices for it. An official said that 200 demonstrators and 44 policemen had been injured. [New York Times]
- Dissent over an oil import freeze was reported by American officials, who said that the United States and Japan had reservations about the desirability of a five-year freeze proposed by Western European countries. The accounts emerged from opening talks in Tokyo between President Carter and Prime Minister Masayoshi Ohira. [New York Times]
- A base oil price of $18 to $20 a barrel may result from the meeting of the Organization of Petroleum Exporting Countries. This rise from the official $14.55 price was suggested by the president of the cartel, who said that moderate members might raise production to keep in line radical members that want a larger price increase. [New York Times]
- A welfare policy is discriminatory against women, the Supreme Court held. The Justices ruled unanimously that if the government pays benefits to families in which the father is unemployed it must pay the same benefits to families left equally needy by the mother's loss of her job. The ruling marked a defeat for the Department of Health, Education and Welfare. [New York Times]
- Suspects' rights were narrowed by the Supreme Court, which ruled 6 to 3 that evidence taken during a presumably legal arrest may be admitted at trial even if the law under which the arrest was made is in the interim declared unconstitutional. [New York Times]
- Hope for a return of DC-10's to the air was expressed by a federal official, who said that the government would know by the end of the week when the grounded fleet could be released. Other officials warned that it would take up to a week after it was determined that the jumbo jets could fly safely before the flights could be resumed. [New York Times]
- Atlanta is increasingly international, calling itself "the Paris of the South." In the last two and a half years, a dozen foreign banks have opened or been licensed to operate in Atlanta. Foreign countries are increasingly shipping goods to southern ports, and 11 consulates and 10 foreign trade bureaus have opened in the city. [New York Times]
- Moscow warned Washington on arms, saying that if the Senate rejected or amended the treaty signed in Vienna last week, it would mean "the end of negotiations." Foreign Minister Gromyko said that the pact was of "exceptional importance," satisfied equally the interests of both countries and could lead to further limitation and "even reduction" of strategic nuclear weapons. [New York Times]
- Malaysia expelled 13,000 Vietnamese refugees in 60 boats to international waters in the last week, raising to 55,000 the number ousted this year, the government announced. The disclosure was made by a high Foreign Ministry official in replying to questions in Parliament. [New York Times]
- A long civil war in Nicaragua Is now apparently expected by both sides. Guerrillas continued to resist a government bombardment of the eastern sectors of Managua in the hope of winning time for rebel columns to advance in other regions of the country. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 844.25 (-4.85, -0.57%)
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 22, 1979 | 849.10 | 102.64 | 36.41 |
| June 21, 1979 | 843.64 | 102.09 | 37.10 |
| June 20, 1979 | 839.83 | 101.63 | 33.79 |
| June 19, 1979 | 839.40 | 101.58 | 30.78 |
| June 18, 1979 | 839.40 | 101.56 | 30.97 |
| June 15, 1979 | 843.30 | 102.09 | 32.93 |
| June 14, 1979 | 842.34 | 102.20 | 37.84 |
| June 13, 1979 | 842.17 | 102.31 | 40.75 |
| June 12, 1979 | 845.29 | 102.85 | 45.44 |
| June 11, 1979 | 837.58 | 101.91 | 28.27 |