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University Daily Kansan, November 19, 1980
News Briefs From United Press International
Dow Jones approaches 1,000 mark
NEW YORK—The Dow Jones Industrial Agriculture edged closer to the magical 1,000 mark yesterday, apparently still riding the post-election inflation wave.
Analysts said the average probably would crack the 1,000 mark this morning, repeating a pattern after the elections of Presidents Richard Nixon and Ronald Reagan.
The Dow Jones Industrial Average is a closely watched indicator of 30 blue-chip industrial stocks.
The low closed yesterday at 97.95, up 11.69 to its highest level since 1978. Although it never went through the 1,000 mark in the hourly averages, it got better in the latter half of the year.
"My guess is that it will break through the 1,000 mark tomorrow morning," said William M. Lefevre, vice president of investment strategy at Purcel, Graham and Co., yesterday. "Like a horse that has the bit in its teeth, the market is going to do its thing despite soaring interest rates."
The buying yesterday generated a volume of 70.3 million shares—the fourth-highest session on record, although it was well below the peak 84.3 million shares that year.
Analysts said the expected breakthrough differs from the previous two because it depends more on long-term anticipation of what Reagan could achieve in the economy. Also, the economy is fighting rising interest rates, persistent inflation and other economic uncertainties.
House passes budget of $631.7 billion
WASHINGTON—The House passed a long-delayed $31.7 billion budget for the federal impairment of federal funds. Republican proposal to allow presidential impoundment of federal funds.
The House rejected the "sense of Congress" resolution that would have supported giving Ronald Keagan the power to withhold funds appropriated for public programs.
The House voted 232-154 against the impoundment proposal by Rep. Delbert Larson R-Ohio, and then announced the budget. 203-191.
Only two Republicans, John Anderson of Illinois and Charles Dougherty of Pennsylvania, voted for the budget.
The spending plan for fiscal 1981, which began seven weeks ago, includes the Reagan bacet and he would make by trimming federal waste abuse, minimizing pollution and
The House and Senate considered separate versions of the 1811 budget after Reagan visited Capitol Hill yesterday. The Senate put off final action on its bill until today.
Ford. UAW request import reduction
WASHINGTON—The Ford Motor Co. and the United Auto Workers labor union asked Congress yesterday to give President Caerter new powers to reduce Japanese auto exports to the United States.
Their appeal to the House Ways and Means Trade subcommittee came a week after the U.S. International Trade Commission refused to recommend that the Ways and Means Trade subcommittee
UAW President Douglas Fraser said at a subcommittee hearing that quick passage of a resolution would clarify the president's authority to negotiate a voluntary reduction in Japanese-made imports. It would send a clear signal that Congress is ready to pass legislation that Congress wanted immediate action on the automotive question.
Carter's trade ambassador, Reubin Askew, had testified to the trade commissioner. He said he was sure whether the commissioner had the authority to negotiate such a reduction.
Askew had said he thought the agreement would violate U.S. antitrust laws
William Scott, Ford vice president, told the subcommittee, "It's time for the United States to assert sovereignty over its own automotive market."
Civil rights leaders appeal acquittals
GREENSBORO, N.C. - Civil rights leaders appealed yesterday for federal action against six Ku Klux Klanismers and Nazis acquitted of the murder of
The six men were acquitted by an all-white jury Monday. They demanded $100 an interview yesterday, saying, "What we've been through ought to be."
The men, although cleared of the state's charges of murder and riot, still could be prosecuted on federal civil rights charges.
Joseph Lowery, president of the Southern Christian Leadership Conference, sent telegrams to Ronald Reagan and President Carter demanding that he remove his son from the White House.
U. S. District Attorney H.M. Michaux said Justice Department officials were examining the case to decide whether any federal civil rights statutes applied.
The five Communists were killed Nov. 3, 1979, during a shootout that occurred at a Communist-sponsored "Death to the Klan" rally. The trial was the longest in North Carolina's history; the jury deliberated for seven days before deciding that the Klansmen and Nazis had acted in self-defense.
Official says no hostage release soon
The release of the $2 American hostages in Iran is still a long-wait off, and the nation's relevant law requires that, a way, high-ranking member of Iran's hostage commission, be present every day.
However, the speaker of the Majlis, Iran's parliament, said the conditions for the hostages' release were final. The speaker, Hojatolleslam Hashemi Rafsanji made the comment before leaving on a diplomatic mission Monday.
All Novari, governor of the Central Bank and a member of the hostage commission, told Sioux Falls, S.D., radio station KXRB that within three days, the group might complete its study of the U.S. reply to Iran's terms for release of the hostages.
"If the U.S. government abides to the four conditions that have been set for the Iranian parliament then there is a good possibility of the release of the hostages."
However, most Iranian still believe that the four conditions are a "bare minimum" to be met for the hostages' release, Novari said. "If the U.S. government does not abide to them (the conditions), then there would be another fever for extremism," he said.
Today is the 382 day of the hostages' captivity.
Party leadership in Poland changed
WARSAW, Poland-Polish authorities announced major changes in currency regulations allowing travel to Czechoslovakia to four times a year.
Meanwhile, the Solidarity labor coalition called a strike alert when it was learned that the provincial governor of Czestochowa was still in office. Workers had demanded his resignation Monday and apparently had thought it had been accepted.
Solidarity claims to have as many as 6 million members nationwide.
The currency regulations, limiting the number of times Poles can buy Czech money, require travel to Czechoslovakia as a part of an attempt to establish the position of the Polish economy.
In major party reforms, Alojpy Karkoska, head of the Warsaw area Communist organization, was ousted from office. He was an ally of former party chief Edward Gierek. Gierek had been removed from office in the midst of massive labor strikes last September.
Karkoszka's removal, which officials said was at his own request, made it almost certain that he also would be removed from the ruling party. Politi-
The party leader in the textile center of Lodz also was replaced, the government announcement said. Lodz also had been hit by waves of labor protests.
Easterners were stunned yesterday by a winter storm that buried New England under foot-deep snow and kingland people in a sweep from Texas to Maine.
Snowstorm hits; at least 20 killed
Schools closed, and police were overwhelmed by reports of minor accidents. Hospitals were kept busy with patients who suffered exhaustion and heart problems from shoveling snow or pushing cars out of snowdrifts.
Thirteen people were killed and another, a pilot, was missing in storm-swept Pennsylvania, which was blanketed by up to 15 inches of snow from the third-worst November storm. Two storm-related deaths were reported in New Hampshire and another in Massachusetts.
SEOUL, South Korea--A Korean Air Lines Boeing 747 jumbo jet from Los Angeles with 226 people landed in a heavy fog and burst into flames at Kimoo International Airport yesterday. Five people were injured and three passengers—were killed, airline officials said.
12 people killed in Korean jet crash
The storm started in Texas during the weekend and left three people dead. One more died in Oklahoma before the storm moved east.
Eleven Americans escaped uninjured. Officials at the U.S. Embassy said they did not know any other American were aboard.
The airline's official announcement said the jet had hit a raised section of the runway. Its landing gear snapped off and the plane sid down the strip, belching black smoke. Early reports said the plane was with a military vehicle, but there was no official confirmation.
Airport officials in Seoul said the death toll could go as high as 22, though the official count of the presumed dead stood at eight.
Heat from the slide triggered a fire that engulfed the midsection of the jet, the announcement said. The intense heat melted the top half of the craft. The rear of the plane appeared to have suffered the least damage, but the midsection was gutted.
Most of the passengers managed
to escape through emergency exits and were not seriously injured.
In Los Angeles, Korean Air Lines spokesman Bill Core, who had talked with airline officials in southwest Arkansas's No. 1 engine had caught fire.
The plane had started from Los Angeles Monday evening with a refueling站 at Anchorage, Alaska. It touched down at Kimoo International Airport at 4:25 p.m. CST on May 8, 2015 at 8 a.m., Wednesday in South Korea).
Authorities said firefighters extinguished the blaze in about 40 minutes.
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