News stories from Monday April 19, 1982

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

New details from the 1980 census reflected a rapidly changing nation making gains in such areas as education and housing. The report showed that the use of public transportation in the 1970's dropped despite an energy crisis, and the percentage of foreign-born residents, which had been declining for decades, spurted. One in every 10 persons reported speaking a foreign language at home. [New York Times] An unusual Supreme Court action was announced after months of uncertainty. The Court said it would decide whether lower courts were correct in ruling that racially discriminatory private schools are not entitled to federal tax exemptions. The Justices appointed William Coleman, a prominent lawyer, to argue as a "friend of the Court" the legal position that the Reagan administration abandoned early this year. [New York Times] A change in Medicare reimbursement was proposed by the hospital industry. Under the plan, hospitals would receive a standard payment, set in advance, for each elderly patient, regardless of length of stay or illness. Alexander McMahon, president of the American Hospital Association, said that the proposed system would give hospitals strong incentives to control Medicare costs. The plan would require congressional action. [New York Times] A Hungarian spy plot was announced by federal officials in Augusta. A naturalized American citizen who is a native of Hungary was arraigned on charges of trying to buy military secrets from a Hungarian-born American Army warrant officer stationed at nearby Fort Gordon. [New York Times] The fastest Boston Marathon ever, 2 hours 8 minutes 51 seconds, was run by Alberto Salazar, who outkicked Dick Beardsley in the final 50 yards. Salazar's time was the fourth fastest in any marathon, and his margin of victory, 10 yards and two seconds, equaled the closest finish in the Boston race's 86-year history. [New York Times] Darwin's theory of evolution appears to be confirmed by new studies of the tiny and endangered Devils Hole pupfish in Nevada. But in the minds of some scientists, the studies seem to dispute the assumptions about the tempo of evolution expostulated by Darwin, who died 100 years ago today. [New York Times] New curbs on travel to Cuba were announced by the United States in an effort to reduce Havana's hard currency earnings. It said the curbs would have the effect of banning tourist and business trips after May 15. [New York Times] Alexander Haig warned that "time is running out" in the Falklands crisis. On leaving Buenos Aires for Washington, Secretary of State Haig said that more than three days of detailed talks had led to "a further identification and refinement of the Argentine position" and that he would report to Britain and President Reagan. Diplomatic sources said that the military junta had refused to modify its position that sovereigny over the islands be guaranteed to Argentina.American officials said Mr. Haig had made some progress in his latest talks in Buenos Aires, but not enough to suggest an early resolution of the Falklands dispute. Britain indicated dissatisfaction with the latest proposals for easing the Falklands crisis received from Secretary Haig. Officials in London said that at first sight the proposals were unsatisfactory. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 846.08 (+2.66, +0.32%)
S&P Composite: 116.70 (-0.11, -0.09%)
Arms Index: 1.01

	Issues	Volume*
Advances	799	27.44
Declines	656	22.74
Unchanged	432	8.29
Total Volume		58.47

* 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*
April 16, 1982	843.42	116.81	55.89
April 15, 1982	839.61	116.35	45.69
April 14, 1982	838.09	115.83	45.15
April 13, 1982	841.04	115.99	48.66
April 12, 1982	841.32	116.00	46.51
April 8, 1982	842.94	116.22	60.18
April 7, 1982	836.85	115.46	53.14
April 6, 1982	839.33	115.36	43.20
April 5, 1982	835.33	114.73	46.90
April 2, 1982	838.57	115.12	59.86