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America's joy pealed from church belfries, rippled from flag staffs and wrapped itself in a million miles of yellow ribbon, tied around trees, car antennas and even the 32-story Foshay Tower in Minneapolis. Barbara Deffley, wife of the Methodist minister in Holmer, Ill., rang the church bell 444 times, once for each day of captivity. "At about 200 pulls, I thought I'd never make it," she gasped. "Then at about 300 pulls, I got my second wind and kept going all the way." Massachusetts House Speaker Thomas W. McGee, 56, was too impatient to wait...

Author: /time Magazine | Title: Iran Hostages: An End to the Long Ordeal | 2/2/1981 | See Source »

...unpredictable Iranians through a second virtually sleepless night. Before dawn, he knew that final agreement on the technicalities for release had been reached. The money had been deposited in the Algerian account at the Bank of England for transfer to the Iranians. At 8:06 a.m. his red phone rang. He was told by Deputy Secretary of State Warren Christopher that two Air Algerie Boeing 727 jetliners had been cleared for takeoff at Tehran's Mehrabad Airport. One was to carry the Americans, the other the Algerian doctors who had examined the hostages in Tehran to certify that they were...

Author: /time Magazine | Title: Iran Hostages: An End to the Long Ordeal | 2/2/1981 | See Source »

...through the morning, Sick relayed the bad news to Carter, which was that there was no news about takeoffs in Tehran. He called him away from coffee with the Reagans in the Blue Room, rang him as Carter and Reagan rode together to the Capitol in the black presidential limousine, reached him again at a phone in the Capitol Rotunda. During Reagan's Inaugural speech, Carter briefly closed his red-rimmed eyes, a moment caught by television cameras. He had been praying for the hostages, he later told aides, who had wondered if he had fallen asleep...

Author: /time Magazine | Title: Iran Hostages: An End to the Long Ordeal | 2/2/1981 | See Source »

...beamed joyfully as neighbors filed into her modest house in suburban Washington to help clean up after the freedom celebration. One friend tried to buff away the cigarette burns on the living room furniture; another stacked empty champagne bottles in a back room. At 2:10 p.m. the phone rang, and a friend laughed into the receiver, then shouted: "Well, it's about time you called! Ask your wife what happened at your house last night...

Author: /time Magazine | Title: Iran Hostage Gary Earl Lee: I Thought I Was Dead | 2/2/1981 | See Source »

Frenzy set in as soon as the opening bell rang last Wednesday morning at the New York Stock Exchange. Prices plunged as brokers carried out orders from their clients to sell out their accounts. By midday the Dow Jones industrial average had fallen 31 points, although it recovered slightly in the afternoon to close down 23.80 points on a volume of 92.9 million shares. It was the busiest session in the 188-year history of the exchange. The following day, the Dow Jones index sank another 15.19 points...

Author: /time Magazine | Title: Granville Stuns the Market | 1/19/1981 | See Source »

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