July 18, 1979

Gen Anastasio Somoza Debayle resigns as President of Nicaragua; flies into exile in Miami, Fla; fighting continues; joint session of Nicaragua's Congress accepts Somoza's resignation and names Chamber of Deputies President Francisco Urcuyo Malianos to succeed him; Urcuyo appears intent on withholding power from rebel junta; urges guerrillas to lay down their arms and calls for talks among all democratic groups, nationwide address; Amb Lawrence A Pezzullo, after meeting with Urcuyo, reportedly tells opposition leaders that there has been 'violation' of agreement that was worked out with Somoza and that US can play no further role in negotiations; portrait of Somoza as he arrives in Miami and of Augusto Cesar Sandino, foe of late President Somoza Garcia; illus of Sandinist guerrillas celebrating Somoza's resignation (L)

Miller says Federal Reserve will not alter its present degree of monetary restraint, HR Banking Com; repts Open Mkt Com has set unchanged monetary growth targets for rest of yr and '80; says M-1 target range is 1.5%-4.5% growth; actual growth in '79 1st half was at 2.7% annual rate (S)

The recession could be somewhat deeper than the Carter Administration has foreca said “Wiliam Miller, chairman of the Federal Reserve Board: He also said thé central bank would not alter the present degree of mbnetary,restraint, and he cautioned against a precipitous rush to cut taxes. [Page D1.]

Pres Carter's approval rating in NY Times/CBS News Poll rises from 26% to 37% as result of his July 15 speech; percentage who approve of his handling of energy matters rises to 34% from 16%; 29% say they would be willing to buy small-denomination bonds in proposed Energy Security Corp to develop new sources of energy; graphs (M)

Japan weighs spending $11.6 billion by '90 on alternative energy sources; comparison with US program; illus (M)