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Stock traders obviously are concerned. After going down nearly 50 points in two weeks because of worry about interest rates, the Dow Jones industrial average recovered only a fraction of a point Friday in response to the drop in unemployment, and closed at 1,183. Its 1983 high: 1,248, on June 16. No fretting, however, occurred among Reagan and his aides. "This is a red-letter day in the White House," said Communications Director David Gergen. "Unemployment went down-and Congress is going home." The President joked: "There's one way we can tell our program is beginning...
...Wall Street. The stock market's bull market of 1982 was set off when the Open Market Committee voted last August to ease Committee policy, and the market has been reacting nervously to rumors of higher rates. Investor fears that Fed tightening would boost interest levels caused the Dow Jones industrial average to drop 14.92 points last week, to close at 1192. The Reagan Adminstration, which fears that tight money could brake the recovery, has been making some clumsy attempts to influence the Federal Reserve's policy on interest rates. White House Spokesman Larry Speakes said last week...
Following a 1964 dioxin spill and outbreak of chloracne at Dow's Midland, Mich., plant and complaints from consumers, Dow met with other chemical companies to discuss "problems of health" associated with dioxin. Dow says that the get-together was an attempt to police the industry from within and coordinate methods to keep the level of dioxin in Agent Orange below the danger point. In 1970 Dow recommended to then Defense Secretary Melvin Laird that the Government set a safer maximum level of dioxin content in Agent Orange...
...Dow maintains that even before this warning, top U.S. officials already knew the hazards of dioxin in Agent Orange from the Government's own research and that as a Government contractor, the company was simply filling an order. The federal court documents show that in 1967 the Joint Chiefs of Staff reviewed a Rand Corp. warning about the herbicide but discounted it and continued the spraying, believed by the military to be essential to the war effort, for an additional 2½ years. Yet the Pentagon is on record as having ordered Agent Orange from Dow and others specifically...
...Besides Dow, which was the Government's main supplier, the defendants in the Agent Orange case include the Monsanto Co. of St. Louis, the Diamond Shamrock Corp. of Dallas, Uniroyal Inc. of Middlebury, Conn., and T.H. Agriculture and Nutrition Co. Inc. of Kansas City. The case, now in pretrial hearings, is not expected to go before a jury until next year. "It's been all cloak and dagger," says ex-Navyman Sutton, "but I think the truth is finally coming out." No doubt, but some truths may continue to prove elusive: while scientific studies have shown that dioxin...