News stories from Wednesday October 13, 1982

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

President Reagan acknowledged that unemployment was a major national problem, but he asserted it would be solved if the country stayed on course with his economic program. Mr. Reagan, in a televised address from the White House, spoke in personal and nonpartisan terms in arguing that the nation's economic problems resulted from decades of mistakes. [New York Times] Damage to aid programs in many cities has resulted from President Reagan's policy of consolidating federal programs into block grants, according to a study issued by the United States Conference of Mayors. Seventy percent of the cities said they were "not fairly represented" in the process by which the states distributed the funds, worsening the effects of federal budget cuts. [New York Times] High bids for oil drilling rights off Alaska totaling a near-record $2.1 billion were made by 23 companies despite the global slump in the world oil market. The tracts offered for sale by the Interior Department in the Beaufort Sea off Alaska's North Slope cover 1.8 million acres. [New York Times] Higher scores by minority students were a main reason why scores on the Scholastic Aptitude Test were higher this year for the first time in 19 years, according to the College Entrance Examination Board. [New York Times] Jim Thorpe's gold medals and amateur status were restored by the International Olympic Committee. The American Indian athlete won the medals in the 1912 Olympic Games and was forced to return them after he admitted he had once been paid to play baseball. [New York Times] San Francisco's antigun law was overturned by the California Court of Appeal on the ground that the city had no authority to enact it. The ordinance, which generally banned the possession of pistols, is regarded as the most far-reaching antigun measure ever enacted by a major American city. [New York Times] Polish shipyard workers who struck for two days in Gdansk over the outlawing of the independent trade union Solidarity returned to work after the martial law authorities drafted them into military service. But new protests erupted in southern Poland, where 3,000 workers marched out of a steel plant outside Cracow. Street clashes were reported in Wroclaw in the southwest. [New York Times] The Nobel Peace Prize was awarded to Alva Myrdal of Sweden and Alfonso Garcia Robles of Mexico for their efforts to promote disarmament. Mrs. Myrdal's husband is Gunnar Myrdal, who shared the 1974 Nobel Memorial Prize in Economic Science. Mr. Garcia Robles is a 71-year-old career diplomat. [New York Times] A serious dispute in the P.L.O. over the concept of a Palestinian state being joined in confederation with Jordan emerged in Damascus. Five groups in the Palestine Liberation Organization issued a statement denouncing such a federation, which has been under discussion in Amman between King Hussein and Yasser Arafat, the P.L.O. leader. [New York Times] Israel reversed a longstanding policy in announcing that it would take an active role in housing and protecting Palestinian refugees in southern Lebanon this winter. [New York Times] A new agenda for West Germany at home and abroad was set by Chancellor Helmut Kohl. He told Parliament that his new conservative government would encourage private investment, trim welfare spending, restrict foreign immigration and "reinforce and stabilize" Bonn's ties with NATO and the United States. [New York Times] Napoleon was probably not poisoned by arsenic, according to scientists who cited evidence from the pigment in the exiled Emperor's wallpaper and a strand of his hair. The murder theory was advanced after a residue of arsenic was found in some preserved samples of his hair. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1015.08 (+11.40, +1.14%)
S&P Composite: 136.71 (+2.27, +1.69%)
Arms Index: 0.88

	Issues	Volume*
Advances	1,351	106.16
Declines	398	27.65
Unchanged	264	5.99
Total Volume		139.80

* 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 12, 1982	1003.68	134.44	126.30
October 11, 1982	1012.79	134.47	138.53
October 8, 1982	986.85	131.05	122.26
October 7, 1982	965.97	128.80	147.08
October 6, 1982	944.26	125.97	93.57
October 5, 1982	907.19	121.98	69.77
October 4, 1982	903.61	121.51	55.65
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