Among the old&#8208;fashioned pleasures that remain in Connecticut is the fun of riding, with bells jingling, in a onehorse open sleigh&#8212;or, for that matter, in an open sleigh drawn by two horses, or even three. troika style.

When It's Sleigh Ride Weather

News Summary

Illinois: More than 300 passengers are injured, few seriously, when Ill Central Gulf commuter train crashes into rear of another at a Chicago station; accident occurs as office workers are struggling to get home during blizzard; cause of crash is not known, but passengers say motormen had trouble stopping at station in heavy snow (S)

Middle West Battered by Deadly Blizzard

illus of Baker and Rhodes preparing Repub rebuttal

Senate Is Deluged by Lobbyists As It Studies Labor Law Change

FDA's investigations has had devastating effect on $100-million dietary supplement indus; illus (M)

Liquid Protein: Turmoil Intensifies

Big NY banks cut bad loan reserves, helping their holding cos to increase reptd '77 operating earnings; almost all of 10 biggest banking cos, except Citicorp, rept earnings gains for '77; M A Schapiro & Co analysis of 1st 100 banks to rept '77 earnings finds 11 banks reptd lower operating earnings; finds earnings for 100 gained almost 14%, compared with 5-8% rises in 2 prior yrs; other figures; table of financial data of top 10 cos (M)

Banks Are Setting Aside Less for Future Bad Loans

An article in The Times yesterday reported incorrectly that liquefied natural gas heats more than half the homes and commercial establishments

CORRECTIONS

BACK in 1925, when jazz was barely 25 years old, Bessie Smith was singing, i &#8220;You've been a good of wagon, Daddy, but you done broke down.&#8221;

Old Jazz That Makes Us Feel So Young

US-Canadian air-search teams discover powerful radiation in area where satellite re-entered atmosphere; radiation is described as too heavy to have come from natural sources; Defense Min Barnett J Danson says there is 90% chance radiation is from remnants of satellite; radiation is pinpointed in area 200 mi west of Baker Lake, fishing settlement of 950 residents in Canada's Northwest Territories; reptdly is too far from any habitation to pose danger to human beings; Amer scientist Dr Richard Wagner comments; search by air teams described; map (M)

POWERFUL RADIATION DETECTED IN CANADA

GNP is expected to reach $ 2-trillion mark on Jan 27; while it took 200 yrs for GNP to reach $1-trillion, it took only 7 yrs to achieve 2d trillion; inflation accounts for about 66% of 2d trillion, about 33% of 1st trillion; cartoon (M)

G.N.P. (Yawn) at $2 Trillion!

NYC Soc Services Dept is offering 100,000 poor people chance to drop usual Medicaid coverage in favor of same prepaid comprehensive health and hosp care that is provided to city employees; objective is to cut soaring Medicaid costs and improve quality of med care for poor by giving them continuity of care that outpatient hosp clinics and so-called Medicaid mills rarely provide; new program to be operated by HIP of Greater NY under $25-million contract; city will pay plan monthly premium of $49.23 an adult and $25.33 a child, with total payments not to exceed $25.8-million a yr; HIP has been largely underused and will be able to accommodate additional 100,000 patients; HIP provides comprehensive health and hosp care in return for fixed prepaid premium; HIP pres Allan Kornfield hails contract (M)

New York Offers H.I.P. Coverage To 100,000 Poor Now on Medicaid

SEC outlines plan for highly competitive natl mkt system linking major exchs and over-the-counter mkt; delays until Sept 30 any decision on whether to abolish remaining rules barring off-bd trading of listed securities; calls for composite quotation system to take effect May 1; calls for implementation by Sept 30 of systems to link various exchs and route orders among them so that broker at any exch can buy or sell at exch offering best price and so that brokers can route orders directly from their offices to any exch they chose; asks exchs to present plans for implementing systems by Apr 15; calls for exchs to develop plan by Sept 30 for development of natl system to execute and give priority to customer limit orders, instructions to buy or sell security at specified price; Chmn Harold M Williams stresses comm will act to implement plan itself if indus does not respond to timetable, news conf (M)

S.E.C. Outlines Its Plans For One National Market

HEW Dept Sec Joseph Califano says Fed Govt will help finance abortions for impoverished women who are victims of rape or incest provided they or 'anyone' repts crime within 60 days to law enforcement or public health agency; provision of proposed legis discussed; Reprs Henry J Hyde and Robert H Michel, Sen Edward W Brooke and Atty Gen Griffin Bell comment (M)

H.E.W. SETS OUT RULES ON AID FOR ABORTIONS FOR VICTIMS OF RAPE

Police Dept is training 70-member kidnapping task force in wake of recent rash of kidnappings by terrorists in other nations; Inspector Robert T Pirro Jr, commanding officer of div, comments; illus (M)

Overseas Kidnappings Spur New York Police Effort

Repts net income of $332 million in 4th qr and $1.1 billion for all of '77; chmn Reginald H Jones comments (M)

G.E.'S 1977 EARNINGS UP TO $1.1 BILLION; SHARE GAINS $4.79

In a major address here, Treasury Secretary W. Michael Blumenthal yesterday sought to rebut business criticism of the President's economic program. In essence, he indicated, the business reaction was unfair. Page D3.

Blumenthal Answers Critics

illus of marine examining overturned auto

New York Area Gets Flooding, Winds, Fog and Sun

Comment on upcoming antiques events including 24th Winter Antiques Show, 4th annual World Antiques and Fine Arts Mkt and sales at Sotheby Parke Bernet (M)

If You Love Antiques, This Is Your Season

T E Mullaney comments on Wall St reaction to Carter's tax proposals; leaders of securities indus point out that Carter failed to propose elimination of 'double taxation' of divds; link stock mkt malaise in part to gen tax burden (M)

Concern Over Securities Business Health

The stock market declined along a broad front yesterday as unfavorable economic news and interest&#8208;rate worries, combined to send the Dow Jones industrial average down 9.10 points to 763.34.

Dow Down 9.10 On News of Lag In Productivity

WASHINGTON, Jan. 26&#8212;Administration officials said today that Egypt and Israel were close to an agreement on principles for an overall Middle East settlement and that tentative plans were being discussed for President Anwar elSadat and Prime Minister Menachem Begin to make separate trips to Washington in the next month to confer with President Carter.

A BEGIN‐SADAT ACCORD ON AIMS CALLED NEAR; TRIPS TO U.S DISCUSSED

WEEKENDER GUIDE

Article on efforts to save famous Old Harbor Life Saving Station, Chatham, Mass-once focus of dramatic sea rescues along Cape Cod's treacherous shore; Govt is trying to save it from encroaching sea and preserve it as museum at Race Point, Mass; old bldgs have been stranded aboard barge for past 2 mos because of adverse weather; illus (M)

Saving the Life of a Lifesaving Station

THE MIGHTY GENTS,&#8221; which was called &#8220;The Last Street Play&#8221; when it was done at the Manhattan Theater Club, will come into the Ambassador Theater on April 13. Briefly, it is about a group of young men, hanging out on a street corner in Newark, who realize that they were happiest when they were members of a street gang called the Mighty Gents. Then they try to resurrect the street gang. Mel Gussow, reviewing that production for The New York Times last May, said. the  play was &#8220;an eloquent threnody to lost, spent youth.&#8221;

Broadway

Gold and platinum futures fell slightly yesterday after the London bullion price dropped $1.70 to $175.80 an ounce. But silver prices slumped after being unable to stay above the $5 level.

January 27, 1978

Headlines from January 27, 1978

When It's Sleigh Ride Weather

News Summary

Middle West Battered by Deadly Blizzard

Senate Is Deluged by Lobbyists As It Studies Labor Law Change

Liquid Protein: Turmoil Intensifies

Billboard 200

Saturday Night Fever

Foot Loose + Fancy Free

All 'n' All

Out Of The Blue

News Of The World

Historical Context for January 27, 1978