News stories from Thursday October 14, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A new drive against drug trafficking by organized crime was announced by President Reagan. Administration officials said the government would hire 900 new agents for law enforcement agenices, 200 new assistant United States Attorneys and a support staff of 400 people and that the program would be financed by shifting funds from other agencies. [New York Times]
- Pressure to cut military spending will increase in the next several years, according to former Defense Secretary James Schlesinger. Mr. Schlesinger, an economist, predicted that the federal budget deficit would exceed $200 billion in 1984 and would generate pressure on politicians to trim military spending below the level planned by President Carter. [New York Times]
- A derailment led to the arrests of three railroad employees in Louisiana. The state charged the three with reckless handling of hazardous material, a felony, arising from the Sept. 28 derailment of a speeding 43-car freight train. The accident set off explosions and fires and forced more than 2,700 people to stay away from their homes for two weeks. [New York Times]
- The Tylenol-death investigators work in a big, brightly-lighted room in a modern police stationhouse on Chicago's North Side. The room is filled with holster-wearing men typing while two sergeants review large stacks of follow-up reports. "A typical night," according to a detective, includes "a lot of tips, a lot of crazies and a lot of leads." [New York Times]
- Republicans and Democrats agreed that President Reagan was at his best in his televised address Wednesday night. The consensus was that Mr. Reagan sailed through his Teleprompter lines, making his points with innovative color graphics, and using a poignant letter from a homemaker to convey a concern for the plight of the little people. [New York Times]
- The United States and Israel agreed on the need for early withdrawal of Israeli, Syrian and Palestinian forces from Lebanon, and expressed the hope that it could take place by the end of the year. At a four-hour meeting at the State Department, the two countries set up a working group to begin examining proposals for bringing about the withdrawal and for providing security for Israel's northern borders. [New York Times]
- Ten days of sweeps in West Beirut by Lebanese army forces resulted in 1,441 arrests, the seizure of tons of arms and ammunition, and the confiscation of 23,000 forged identity papers, the government announced. [New York Times]
- A French neutron weapon is to be produced, according to an allied official. The decision, which has not been made public, could have considerable effect on the military balance in Europe. The radiation weapon restricts damage to a relatively small area and is designed to kill soldiers in tanks without destroying property. [New York Times]
- Polish industrial centers where street fighting erupted for three days were reported to be mostly quiet. But a demonstrator died in the southern steelmaking center of Nowa Huta a day after being shot during a protest against the outlawing of the independent trade union Solidarity. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 996.87 (-18.21, -1.79%)
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 13, 1982 | 1015.08 | 136.71 | 139.80 |
| 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 |