News stories from Friday September 4, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Smaller school lunches have been proposed by the Agriculture Department for the federally subsidized lunch program in schools throughout the country. A reduction in school lunch subsidies was mandated by Congress this year, officials said. [New York Times]
- Producer prices rose only slightly in August. The Labor Department reported a rise of three-tenths of 1 percent over July in the indicator, which measures price changes at the last level of production. Declines in meat and energy prices helped keep the index's increase, which is equal to a rise of 3.6 percent annually, small. [New York Times]
- A sharp rise in joblessness among young blacks caused a slight rise in the national unemployment rate in August to 7.2 percent, an increase of two-tenths of a percentage point over July, when the rate was at its lowest in 15 months, the Labor Department reported. Unemployment among black youths rose 10.7 percentage points last month. This meant that 50.7 percent of employable young blacks had no jobs. [New York Times]
- An Idaho woman is being sought by federal marshals who believe she might have given shelter to Christopher Boyce, the convicted Soviet spy, during much of the 19 months that he was a fugitive after escaping from a federal prison. The woman, identified as Gloria White, 40 years old, was said to have disappeared the day after Mr. Boyce was arrested Aug. 21 in Port Angeles, Wash. [New York Times]
- The suppressing of a retirement study because it did not support President Reagan's recommendations for reducing Social Security benefits was charged to the administration by Representative Claude Pepper, chairman of the House Select Committee on Aging. Mr. Pepper made public a 371-page report by the Department of Labor. He said it should have been delivered to Congress seven months ago but had been "withheld" because it demonstrated that lowering Social Security benefits would have little affect on discouraging early retirement. The President proposed lower benefits for persons who retire at 62. [New York Times]
- An inquiry into food stamp abuse will focus initially on charges of widespread fraud in New York City, Attorney General William French Smith said. He announced in Washington that a federal investigative panel had been established. [New York Times]
- 120 Haitian refugees were transferied to a federal prison in Otisville, N.Y., about 50 miles northwest of New York City, following a rock-throwing demonstration this week in a federal camp near Miami. Among the group -- all men -- were about 30 who were accused of instigating the protest against their prolonged detention in Florida and others who had escaped from the camp and were recaptured. [New York Times]
- Gunmen in Beirut fatally shot France's Ambassadsor to Lebanon. Ambassador Louis Delamare's car was stopped as he was being driven home for lunch and he was shot seven times. No one claimed reponsibility for the shooting. [New York Times]
- The Soviet Union was accused by the State Department of withholding information on the number of troops participating in maneuvers being held in the Baltic region near Poland. Under terms of the 1975 Helsinki agreements, notification of major military exercises must include information about the strength of forces. [New York Times]
- A roundup of dissidents in Cairo resuited in the arrest of 1,000 critics of President Anwar Sadat in two days. The police used tear gas to break up demonstrations at several Cairo mosques after the arrests. The police action was the severest taken against the government's critics since Mr. Sadat took office 11 years ago. The semi-official newspaper Al Abram said that the President would announce a dozen decisions regarding opposition to him in a major speech tomorrow. [New York Times]
- U.S. discussions with South Africa toward achieving the independence of South-West Africa have made considerable progress, Secretary of State Alexander Haig said in an interview. "We're not where we want to be yet," he said, "but we are farther ahead on where we want to be." [New York Times]
- A combination of third world nations, the Soviet Union and its allies blocked an attempt to let members of the South African delegation to the United Nations General Assembly speak at a session called to protest South Africa's continued rule of South-West Africa, despite objections from the United States and other Western nations. The Assembly then rejected the delegation's credentials. The vote was 117 to 22 with 6 abstentions. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 861.68 (-5.33, -0.61%)
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* |
| September 3, 1981 | 867.01 | 121.24 | 41.72 |
| September 2, 1981 | 884.23 | 123.49 | 37.57 |
| September 1, 1981 | 882.71 | 123.02 | 45.11 |
| August 31, 1981 | 881.47 | 122.79 | 40.36 |
| August 28, 1981 | 892.22 | 124.08 | 38.02 |
| August 27, 1981 | 889.08 | 123.51 | 43.91 |
| 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 |