News stories from Wednesday November 10, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Utah's Supreme Court decided, by a vote of 4 to 1, that Gary Gilmore, a convicted murderer, may be executed next Monday as he wishes. The court reversed itself after hearing Mr. Gilmore, his new attorney and a representative of the state Attorney General's office insist that the execution take place as scheduled. [New York Times]
- Stock prices tumbled again in mid-afternoon, with the Dow Jones industrial average closing at 924.04, down 6.73 for the day. A heavy volume of new issues came to market as interest rates on state and city bonds rose. [New York Times]
- American Motors continued its sales slump, reporting a record loss of $51.1 million for the three months ended Sept. 30. The picture is grim for the country's smallest car maker because its Big Three rivals have been accumulating record profits this year. [New York Times]
- "Legionnaires' disease" claimed another victim -- the Bellevue Stratford Hotel in Philadelphia, which housed the convention that was linked to numerous fatalities from a mystery illness last summer. The city's leading convention hotel has suffered a drastically reduced occupancy rate since then and will close Nov. 18. [New York Times]
- A new air pollution policy was announced by the Environmental Protection Agency. It would permit new pollution-causing industry in areas such as New York City and northern New Jersey, provided other improvements in the area meant that there was no net increase in pollution. The National Clean Air Coalition said this would violate the intent of the 1970 law for areas that have failed to meet federal standards. [New York Times]
- Money from Tongsun Park, the South Korean businessman whose Washington lobbying is under investigation, was refused by Gov. David Pryor of Arkansas when he ran for that office, and earlier when he unsuccessfully sought a Senate seat. Mr. Pryor said that as a Representative he was friendly with Mr. Park, but became uneasy about him in 1970 or 1971. [New York Times]
- Syrian tanks and combat troops entered Beirut without resistance from any civil war faction. They advanced under an agreement for a multinational Arab peacekeeping force, but no other countries were represented. In effect, it was the beginning of the final phase of Syria's military occupation of Lebanon that began in June in an effort to end the civil war. [New York Times]
- Emperor Hirohito's 50-year reign was celebrated in Tokyo by some Japanese, but not by others. Some even protested the occasion. At the ceremony he warned his people not to be blinded by the prosperity of the moment and said the country would have to deal with many problems in the future. [New York Times]
- Harsh treatment in Laos of thousands of former rightists and neutralists is being reported by people who have escaped or been released from internment camps. According to accounts reaching Washington, conditions vary considerably from camp to camp. Some 40,000 to 50,000 defeated members of the anti-Communist forces are in what amount to forced-labor camps where the death rate is said to be high. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 924.04 (-6.73, -0.72%)
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* |
| November 9, 1976 | 930.77 | 99.32 | 19.21 |
| November 8, 1976 | 933.68 | 99.60 | 16.52 |
| November 5, 1976 | 943.07 | 100.82 | 20.78 |
| November 4, 1976 | 960.44 | 102.41 | 21.70 |
| November 3, 1976 | 956.53 | 101.92 | 19.35 |
| November 1, 1976 | 966.09 | 103.10 | 18.39 |
| October 29, 1976 | 964.93 | 102.90 | 17.03 |
| October 28, 1976 | 952.63 | 101.61 | 16.92 |
| October 27, 1976 | 956.12 | 101.76 | 15.79 |
| October 26, 1976 | 948.14 | 101.06 | 15.49 |