News stories from Thursday September 16, 1982

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

A special session of Congress has been requested by President Reagan to adopt 13 appropriations bills needed to for government needs in the next fiscal year. The special session has been scheduled for after the November elections and the congressional recess and has been agreed to reluctantly by both Speaker Tip O'Neill, the Massachusetts Democrat, and Senator Howard Baker, Republican of Tennessee, the majority leader. Senator Baker urged that the Congress reconvene for the special session on Nov. 29. [New York Times] A contract plan for Chrysler workers was reached by the auto workers union and the company. The contract restores cost of living payments for workers, but ties wage increases to company profits. It did not come early enough to avert a strike at five assembly plants. The pact must still be approved by local union leaders and by members. [New York Times] The anti-abortion lobby will continue its fight against legalization of the medical procedure, despite their defeat on Capitol Hill, leaders have vowed. They said that the personal intervention of President Reagan in their cause had made them more determined for a stronger fight next year. [New York Times] A large-scale public works program that supporters say would provide at least 200,000 jobs was approved by House Democrats despite Republican charges that they were cynically playing election year politics. The measure would allocate more than $1 billion to cities with high levels of unemployment. [New York Times] A plan to hire more women on the Massachusetts state police force without imposing quotas was filed, the Justice Department announced. In another development, William Bradford Reynolds, the head of the Justice Department's Civil Rights Division, met with the civil rights leader, the Rev. Jesse Jackson, to discuss Voting Rights Act enforcement. [New York Times] Israeli troops seized control of most of west Beirut after overcoming resistance by Lebanese Moslems and leftist militiamen. They were continuing the drive that they began on Wednesday, hours after Lebanon's President-elect, Bashir Gemayel, was assassinated. [New York Times] A withdrawal of Israeli troops from west Beirut was demanded by the United States as the Reagan administration charged that the entry of military forces was a "clear violation" of the cease-fire agreement negotiated last month. A State Department spokesman said the Israelis had told American officials that the military moves were "limited and precautionary." But, he went on, the situation "does not seem to jibe" with the assurances. [New York Times] The Salvadoran government,with the quite support of the Reagan administration, has begun an indirect "dialogue" with guerrilla leaders intended to end the civil war. According to Western diplomats, interest in talks accelerated in the aftermath of a secret meeting Sept. 3 between the provisional President, Alvaro Magana, and the Costa Rican Foreign Minister, Fernando Volio, to discuss peace negotiations between the government and guerrilla forces. [New York Times] Princess Grace's car accident, which led to her death on Tuesday, occurred when she lost control of her car after apparently suffering an attack similar to a stroke, according to two doctors who attended the Princess. They reported that that the 52-year-old princess experienced a "cerebral vascular incident" while at the wheel of her automobile. [New York Times] Signs of a weakening government were evident during an unusual meeting between West Germany's Chancellor Helmut Schmidt of the Social Democrats and leaders of the opposition Christian Democrats. The meeting occurred amid reports that Mr. Schmidt, convinced that his junior partners plan to abandon the coalition in comming weeks, will seek a bipartisan pact to hold new elections. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 927.80 (-2.66, -0.29%)
S&P Composite: 123.77 (-0.52, -0.42%)
Arms Index: 1.32

	Issues	Volume*
Advances	836	32.77
Declines	727	37.73
Unchanged	368	8.40
Total Volume		78.90

* 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*
September 15, 1982	930.46	124.29	69.67
September 14, 1982	923.01	123.10	83.06
September 13, 1982	918.69	122.24	59.51
September 10, 1982	906.82	120.97	71.07
September 9, 1982	912.53	121.97	73.08
September 8, 1982	915.75	122.20	77.95
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