News stories from Monday May 3, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A key compromise on voting rules won the backing of President Reagan and virtually assured congressional passage of an updated version of the Voting Rights Act of 1965. A bipartisan group of Senators agreed on a provision designed to defuse the contention that the House-approved bill would lead to proportional representation based on race. [New York Times]
- Voluntary prayer in public schools is firmly backed by President Reagan. White House and congressional officials said that the President would announce his support for a proposed constitutional amendment authorizing the plan on Thursday, which he has proclaimed a National Day of Prayer. A senior White House official said that Mr. Reagan was expected to recommend exact wording for the proposed amendment. [New York Times]
- The Hinckley trial has a jury of seven women and five men. The panel is to decide whether John W. Hinckley was insane, and thus not criminally responsible, when he shot President Reagan and three other men 13 months ago. The opening statements were set for tomorrow. [New York Times]
- The disposal of radioactive waste on a permanent basis is set at the Savannah River plant in South Carolina where plutonium and tritium have been produced for nuclear warheads for nearly three decades. A controversial plan for pumping the toxic liquids far below ground into caverns cut into the bedrock has been set aside in favor of a plan to solidify the waste within leak-resistant steel containers for eventual burial in a safer location at least 2,000 feet underground. [New York Times]
- A recycling of readers' letters was confirmed by Ann Landers, whose column of personal advice appears daily in newspapers reaching 70 million readers. The columnist said that about 30 columns this year and last contained letters or answers that were essentially unchanged from ones she wrote 15 years ago. [New York Times]
- The roundup of illegal aliens by federal immigration officials in nine cities last week had little impact, according to officials of several of the companies that were major targets of the raids in the New York City area. They said that many of the aliens had been freed and were back at work and that only a few unemployed citizens had applied for the jobs. [New York Times]
- Antisocial behavior by youngsters has prompted New York City's Board of Education to institute a broad new effort to instruct pupils on the responsibilities of citizenship. [New York Times]
- Argentina's only cruiser sank after being torpedoed by a British submarine Sunday, Argentina announced. It said that 123 survivors had been picked up and that rescue operations were continuing. But an Argentine navy spokesman said that many of the 1,042 men aboard the 43-year-old American-built cruiser General Belgrano had probably been lost in the icy seas. [New York Times]
- Britain reported new navy victories. The Defense Ministry said that several hours after the Argentine cruiser was hit, missile-firing British helicopters had sunk an Argentine patrol vessel and damaged a second ship in the 200-mile blockade zone around the Falklands. [New York Times]
- American peace efforts will continue in attempts to settle the Falklands crisis peacefully, Reagan administration officials said. But they added that recent public and private statements by Argentine leaders "have not been encouraging." [New York Times]
- The QE2 has been commandeered by the British navy to take troops to the South Atlantic. The Queen Elizabeth 2, one of the world's most elegant ocean liners, will be taken over tomorrow when she arrives in Southhampton from the United States. Military modifications on the liner will begin at once, and her schedule of trans-Atlantic crossings and cruises has been suspended indefinitely. [New York Times]
- Polish policemen fought protesters in Warsaw and other cities as demonstrations against the martial law government continued. In the capital, the police used truncheons, water cannons, flares and tear gas in clashes with about 10,000 people who chanted slogans in support of the suspended Solidarity union. [New York Times]
- Jordan has been offered new arms by the Reagan administration, according to administration and industry officials. They said Washington sought to sell to Jordan newly developed jet fighters and anti-aircraft missiles in the first phase of a program that could eventually include advanced fighers and missiles. [New York Times]
- Israel will demand sovereignty over the West Bank and Gaza Strip at the end of the five-year transition period envisioned by the Camp David accords with Egypt, Prime Minister Menachem Begin said. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 849.03 (+0.68, +0.08%)
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 30, 1982 | 848.35 | 116.44 | 48.03 |
| April 29, 1982 | 844.94 | 116.13 | 51.33 |
| April 28, 1982 | 852.64 | 117.26 | 50.52 |
| April 27, 1982 | 857.50 | 118.00 | 56.48 |
| April 26, 1982 | 865.58 | 119.26 | 60.50 |
| April 23, 1982 | 862.16 | 118.64 | 71.85 |
| April 22, 1982 | 853.12 | 117.19 | 64.46 |
| April 21, 1982 | 843.42 | 115.72 | 57.81 |
| April 20, 1982 | 840.56 | 115.44 | 54.60 |
| April 19, 1982 | 846.08 | 116.70 | 58.46 |