News stories from Wednesday October 3, 1979

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

The Pope bade a warm farewell to New York before departing for Philadelphia. Shifting from the role of world statesman to that of attentive shepherd, Pope John Paul II turned a rain-drenched crowd at Shea Stadium into an exuberant parish gathering.The Pope arrived in Philadelphia this afternoon where hundreds of thousands of people attended a papal mass in the city and heard the Pontiff deliver a speech that implicitly upheld the Roman Catholic teachings against abortion, divorce and artificial methods of birth control. [New York Times] A crowd of 19,000 teenagers greeted Pope John Paul II at Madison Square Garden. The young people were full of spirit and joy as they cheered, roared and sang their greeting to the Pope, who responded with "wows" in Polish, and pronounced the outpouring "a charismatic moment."More than 60,000 filled Shea Stadium to hear Pope John Paul II, who, on the last day of his visit here, spoke to New Yorkers about the special qualities of their city in four of its languages. The Pontiff's speech, which was constantly interrupted by applause, moved many to tears. [New York Times] Praise from non-Catholic leaders has greeted Pope John Paul II in the first three days of his trip to the United States, though some religious leaders have said the Pope could have been more specific in his calls for disarmament and social justice. Generally, Jewish and Protestant leaders stressed the humanity, the ecumenical spirit and the evangelical zeal of the special visitor from Rome. [New York Times] The possibility of evacuating nearby residents would have been considered on the first day of the accident at the Three Mile Island nuclear reactor had the five members of the Nuclear Regulatory Commission had all the information available to their staff and the operator of the nuclear reactor, the commission members told a Senate panel. [New York Times] A political upset in Cleveland saw the city's embattled Mayor, Dennis Kucinich, defeated in the nonpartisan mayoral primary by Lt. Gov. George Voinovich, the state's top Republican vote-getter. Mr. Voinovich outpolled Mayor Kucinich by 11,228 votes. The two candidates will face each other in a runoff in the general election Nov. 6. [New York Times] Possible violations of federal law were uncovered by the Senate Select Committee on Ethics in its long investigation into Senator Herman Talmadge's finances. The committee would only say that it had uncovered about six possible violations, but sources close to key members said the Justice Department had been asked to take a closer look at the Georgia Democrat and several of his top aides. [New York Times] Parole was granted to former Newark Mayor Hugh Addonizio after the United States Parole Commission abandoned its two-year fight to return him to federal prison. Mr. Addonizio was released from prison in April 1977 after serving five years of a 10-year sentence for conspiring with underworld figures to extort $1.4 million from contractors doing business with the city. [New York Times] A major shift of power in Britain's Labor Party -- away from the party's traditionally more moderate faction and in favor of a group dominated by leftists -- took place at the party's annual conference. The shift came through changes adopted in party rules and it represented a devastating defeat for former British Prime Minister James Callaghan. [New York Times] In the event of a worldwide war with the Soviet Union, the United States should take steps to involve China in the conflict, according to a secret Defense Department study on American military policy in Asia. The New York Times obtained a copy of the study, which urges the United States to bolster China's military potential to enable Peking to aid the West in the event of a major war. [New York Times] A constitution for Zimbabwe Rhodesia was put forward by Britain, which said the draft would be the last one offered at the constitutional conference being held in London. British officials asked for agreement on the draft by Monday. Observers thought the government of Bishop Abel Muzorewa would be generally agreeable to the proposals but that the Patriotic Front guerrilla alliance would have serious reservations. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 885.15 (-0.17, -0.02%)
S&P Composite: 109.59 (0.00, 0.00%)
Arms Index: 1.00

	Issues	Volume*
Advances	836	18.35
Declines	638	13.96
Unchanged	426	4.16
Total Volume		36.47

* 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 2, 1979	885.32	109.59	38.32
October 1, 1979	872.95	108.56	24.98
September 28, 1979	878.58	109.32	35.96
September 27, 1979	887.46	110.21	33.12
September 26, 1979	886.35	109.96	37.70
September 25, 1979	886.18	109.68	32.41
September 24, 1979	885.84	109.61	33.79
September 21, 1979	893.94	110.47	52.38
September 20, 1979	893.69	110.51	45.10
September 19, 1979	876.45	108.28	35.37