News stories from Wednesday September 8, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- No position on school prayer will be taken now by the White House despite doubts by the Justice Department over the constitutionality of proposed legislation on the issue. The measure, sponsored by Senator Jesse Helms of North Carolina, would strip the Supreme Court of jurisdiction over school prayer cases. [New York Times]
- Joining the abortion controversy, President Reagan expressed support for a bill that would sharply limit a woman's right to have an abortion. Mr. Reagan's position fulfilled a campaign promise. Many on Capitol Hill viewed his statement as a political olive branch to his conservative backers and said it would have little impact on the Senate debate. [New York Times]
- The importance of U.S. education aid to students at public colleges and universities was underscored in the first major study of student aid at the institutions. The study found that a typical student could not attend the college without federal assistance. [New York Times]
- George Wallace won a plurality in Tuesday's primary election but still faces a runoff for the Democratic nomination for a fourth term as Governor of Alabama. Mr. Wallace had the support of about one-third of the state's black voters. [New York Times]
- Whites sought U.S monitors for the voting in the Black Belt counties of Alabama in contrast to the late 1960's when blacks, newly re-enfranchised by the Voting Rights Act, actively sought the observers. Their presence is now solicited by white, mostly incumbent, politicians who are losing their hold on the predominantly black farming region. [New York Times]
- A suspect in the Main Line slayings of the aviation pioneer Courtlandt Gross, his wife and their housekeeper in their mansion in the Philadelphia suburb of Villanova was formally charged with the July 15 murders. The defendant is a 22-year-old drifter who has a long criminal record. [New York Times]
- Three Lutheran demoninations voted to form a new church for 5.5 million members that will be the third largest Protestant denomination in the country. The merger brings together denominations that shared a common theology but were organized according to their members' immigrant ancestry. [New York Times]
- Arab leaders neared agreement on a Middle East peace plan, according to delegates at an Arab League conference in Fez, Morocco. The 15 Arab leaders apparently hope that the plan will be acceptable to the West, but reports of its provisions indicate aspects that would be unacceptable to Israel and the United States. The draft was said to call for a homeland for the Palestinians with its capital in East Jerusalem. [New York Times]
- Washington's peace initiative in the Middle East was praised by B'nai B'rith, the American Jewish service organization. It said it took issue with some provisions, but that, over all, President Reagan's plan was "worthy of consideration." [New York Times]
- Israel assailed the U.S. peace plan for the Middle East. Foreign Minister Yitzhak Shamir said that if President Reagan's proposals for the occupied West Bank and Gaza Strip had been advanced as the American position four years ago Israel would never have signed the Camp David accords that led to peace with Egypt. Parliament then voted 50 to 36 to endorse the government's opposition to Washington's proposals. [New York Times]
- Israeli jets destroyed a Syrian anti-aircraft missile battery in Lebanon. Prime Minister Menachem Begin, addressing Parliament, again warned Syria that Israel would not tolerate the transfer of any ground-to-air missiles into Lebanon. [New York Times]
- China, in a conciliatory gesture, has formally dropped from the Communist Party's constitution disparaging characterizations of the United States and the Soviet Union as superpowers that bully weaker nations. [New York Times]
- The primacy of Canada's Constitution was upheld by a Superior Court judge in Quebec. He ruled that guarantees on education in the federal charter supersede provisions of a Quebec law that sought to restrict the number of children attending English-language schools. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 915.75 (+1.47, +0.16%)
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 7, 1982 | 914.28 | 121.37 | 68.96 |
| September 3, 1982 | 925.13 | 122.68 | 130.90 |
| September 2, 1982 | 909.40 | 120.28 | 74.73 |
| September 1, 1982 | 895.05 | 118.25 | 82.83 |
| August 31, 1982 | 901.31 | 119.51 | 86.36 |
| August 30, 1982 | 893.30 | 117.66 | 59.56 |
| August 27, 1982 | 883.47 | 117.11 | 74.39 |
| August 26, 1982 | 892.41 | 118.55 | 137.28 |
| August 25, 1982 | 884.89 | 117.58 | 106.19 |
| August 24, 1982 | 874.90 | 115.34 | 121.65 |