News stories from Monday October 4, 1982

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

Tax credits for private school tuition similar to a federal proposal pressed by President Reagan are the focus of a state case to be reviewed by the Supreme Court. Opening the 1982-83 term, the Justices added to a sizable list of sensitive issues consideration of a Minnesota law that allows state income tax deductions for private, parochial and, in some instances, public school tuition. [New York Times] The Supreme Court agreed to decide several other issues, including liability for medical bills for a criminal suspect who is wounded while being captured or held for trial. [New York Times] A shift in plans to enter college is unusually widespread this fall, according to private institutions across the country. The colleges report that an uncommonly high number of prospective freshmen who were accepted for admission and paid deposits last spring have forfeited the deposits, primarily because of anxiety over ability to pay the bills. [New York Times] The scores of black students in the Scholastic Aptitude Test are on average about 100 points lower than the national norm, according to results made public by the College Board. George Hanford, president of the board, said he hoped that the disclosure would "illuminate the extent and nature of the educational deficit this nation must overcome." [New York Times] A prison sentence for non-registration for a draft was imposed for the first time since the Vietnam War. A federal judge in San Diego sentenced Benjamin Sasway to 30 months in a minimum-security prison camp. He is free on $10,000 bond pending the outcome of his appeal. [New York Times] Agents investigating the deaths of seven people from cyanide in Extra-Strength Tylenol capsules focused on a parking lot near Des Plaines, Ill. A week ago, before the deaths occurred, two sheriff's deputies found hundreds of empty Tylenol capsules strewn on the ground with boxes and a white powder. The deputies became ill with symptoms of poisoning. [New York Times] Critics of the C-58 cargo plane said that a new, more versatile plane could be produced almost as rapidly and at a lower ultimate cost. The critics charged that the Air Force was pressing to sign a contract with Lockheed to buy 50 C-5B's for about $10 billion before more adverse comment was disclosed on its cost, delivery schedule and performance. [New York Times] Organ transplants have risen sharply in numbers in recent months and survival rates have improved. The trends are an apparent result of surgeons' improved ability to perform transplants and of key new drug therapies that help prevent rejection of the transplanted organs. [New York Times] Israeli jets attacked missile positions of Syrians in Lebanon, reportedly destroying a number of sites along the Beirut-Damascus road. The attack followed Sunday's ambush of an Israeli bus in which six Israeli soldiers were killed and 22 were wounded, 11 seriously. [New York Times] Lebanon's Premier was asked to stay by President Amin Gemayel. The President, a Maronite Christian, had to choose a Sunni Moslem under rigid Lebanese tradition, and he decided to ask Shafik al-Wazzan to remain at the urging of Saeb Salam, the 77-year-old former Prime Minister, who is probably the most influential Moslem leader in Lebanon. [New York Times] Continuity in Bonn's foreign policy was suggested by Chancellor Helmut Kohl at his first news conference since his election by Parliament. The West German leader said that his new government planned to seek good relations with European Communist countries and that it wanted "friendship and partnership, but not dependency" in its ties with Washington. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 903.61 (-4.13, -0.45%)
S&P Composite: 121.51 (-0.46, -0.38%)
Arms Index: 1.21

	Issues	Volume*
Advances	620	18.44
Declines	830	29.81
Unchanged	455	7.40
Total Volume		55.65

* 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*
October 1, 1982	907.74	121.97	65.00
September 30, 1982	896.25	120.42	62.61
September 29, 1982	906.27	121.63	62.54
September 28, 1982	919.33	123.24	65.90
September 27, 1982	920.90	123.62	44.83
September 24, 1982	919.52	123.32	54.59
September 23, 1982	925.77	123.81	68.24
September 22, 1982	927.61	123.99	113.09
September 21, 1982	934.79	124.88	82.89
September 20, 1982	916.30	122.51	58.52