News stories from Wednesday June 23, 1976

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

Jimmy Carter, who will probably be the Democratic Party's presidential candidate, told the Foreign Policy Association that his administration would encourage a more active participation by other democracies in the resolution of international problems. The former Georgia Governor criticized the Ford administration's foreign policies as being "secretive" and "amoral." [New York Times] Democratic members of the House of Representatives passed the bulk of reform proposals that would substantially change the chamber's administrative operations after hours of debate. In a night session, the Democratic Caucus approved a series of leadership-sponsored proposals intended to prevent future abuses. [New York Times] Two men who have been questioned by federal officials in the disappearance of James Hoffa were indicted with two other men for the kidnapping and murder of a New Jersey Teamster Union official in 1961. Federal officials said the indictments of the officials, Anthony Provenzano and Salvatore Briguglio, were not connected with Mr. Hoffa's disappearance. [New York Times] A barge carrying seven million gallons of fuel oil ran aground in the St. Lawrence River, spilling 250,000 gallons of oil and forcing a temporary closing of the waterway. The barge was towed for another seven miles by its tug before anchoring so that the Coast Guard could place booms around it to contain the leaking oil. [New York Times] A Department of Justice investigation into illegal burglaries committed in the last five years by the Federal Bureau of Investigation could ultimately involve hundreds of the bureau's agents, according to sources close to the inquiry. The investigation has already prompted a dozen agents, including an assistant director of the bureau, to seek private counsel. [New York Times] In its last report, the Senate Select Committee on Intelligence Activities said that the Federal Bureau of Investigation and the Central Intelligence Agency had failed to fulfill their obligations in investigating the death of President Kennedy. While concluding that there was no new evidence to justify a conclusion of conspiracy, the report called for a new investigation by the new Senate intelligence committee. [New York Times] Investigators for the Labor Department have found that the Teamster's union's Central States Pension Fund has several hundreds of million dollars in funds that are unaccounted for, and sources close to the investigation said the department was considering placing the fund in the hands of federal trustees. In addition, indictments may be sought against some of the 16 present trustees of the pension fund. [New York Times] The National Institutes of Health released guidelines to govern research in the revolutionary and potentially hazardous field of genetics. The research has been called one of the most exciting frontiers of biological science, but some of it is deemed so potentially dangerous to public health that scientists have adopted moratoriums on some experiments. [New York Times] A number of Long Island public officials began blaming New York City as the major source of the sewage that has washed up on their beaches recently. Meanwhile, a few Suffolk County beaches reopened, while others in both Nassau and Suffolk were cleaned in anticipation of reopening for the weekend. [New York Times] Italian Communist Party officials said that they would not press for immediate inclusion in a new government in return for a more formal role in formulating policy with the Christian Democrats. During the election campaign, the Communists had stressed the need for a government of "national unity" embracing all parties except the neo-Fascists. [New York Times] Angola's application for membership in the United Nations was vetoed by the United States on the ground that the west African nation failed to meet the requirements of independence while thousands of Cuban troops remained on its soil. The United States delegate said in the Security Council that there was no justification for such a foreign force in a truly independent state. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 996.56 (-1.07, -0.11%)
S&P Composite: 103.25 (-0.22, -0.21%)
Arms Index: 0.95

	Issues	Volume*
Advances	566	5.93
Declines	837	8.32
Unchanged	432	3.28
Total Volume		17.53

* 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*
June 22, 1976	997.63	103.47	21.15
June 21, 1976	1007.45	104.28	18.93
June 18, 1976	1001.88	103.76	29.71
June 17, 1976	1003.19	103.61	27.81
June 16, 1976	988.52	102.01	21.62
June 15, 1976	985.92	101.46	18.44
June 14, 1976	991.24	101.95	21.25
June 11, 1976	978.80	100.92	19.47
June 10, 1976	964.39	99.56	16.10
June 9, 1976	958.09	98.74	14.56