August 31, 1979

Corporate Data Exchange study on holdings of public and private pension plans finds American labor movement has done almost nothing to influence way in which billions of dollars in union-related pension funds have been invested; finds that more than $12 billion in union-related funds is invested in predominantly nonunion companies, and in some cases union funds have bought stock in companies that same unions have tried unsuccessfully to organize; finds that all funds, public, company-sponsored and union-related, have heavy concentration of investments in non-unionized companies, companies with major investments in South Africa and companies that violated Federal health and safety and equal employment laws; study director Michael Locker comments (M)

Mattel Inc announces it has agreed in principle to merger deal involving total of $329 million; proposed merger calls for Macmillan shareholders to receive combination of cash, Mattel common stock and subordinated debentures; dominance of conglomerates in book field noted (M)

Irish police charge Francis McGirl and Thomas McMahon with assassination of Mountbatten; authorities say both are IRA members; both enter no pleas during court proceeding, Special Criminal Court, Dublin; team of bomb experts at Sligo is attempting to piece together recovered fragments of Mountbatten's boat; Mountbatten's body is flown to England after special memorial ceremonies at airport near Dublin; also on plane are bodies of victims Nicholas Brabourne and Lady Brabourne; Paul Maxwell, 15-year-old boat boy, is buried near Mullaghmore; Ireland's Prime Min Lynch attends airport ceremonies; illus of Royal Air Force members carrying coffin containing Mountbatten's body as Princes Charles and Philip stand by; illus of Lynch at ceremony; illus of McGirl (L)

11 bank robberies are reported on Aug 30, raising total for August to record 137; NYC Police Department stages simulated bank robbery as part of training course for new special team deployed to combat bank robberies; illus (M)

Heymann reptdly told Ulmer, 7 other grand jury members and Judge Bryant at July closed meeting that Richard M Harden, Carter special assistant, apparently perjured self in testimony about talks he had with W Spencer Lee 4th, Georgia lawyer retained to talk to White House about Vesco's legal problems (L)

Rise in value of pound, spurred by Conservative Govt's strategy of raising interest rates and by North Sea oil reserves, is hurting earnings of Wedgwood Ltd, other British companies that manufacture for export market; graph shows rising value of pound; illus (M)

Commerce Dept reports factory orders for manufactured products fell to $139.7 billion in July, down 2% from June's total of $142.5 billion; says factory inventories were up 1.3% in July to $217.1 billion; also says biggest contributors to 4decline in orders were transportation equipment industries; graph on new factory orders, '77–79 (M)

An article in Business Day on Monday incorrectly described the California operations of the Equitable Life Assurance Society. The company says it is not approving new mortgages in California but it is not closing its investment operations offices there.

NE of the nice things about living in New York is that everybody doesn't have to leave town every time a holiday weekend rolls around — there is always plenty to do close to home. Take this Labor Day weekend, for example: with very little effort, it is possible to catch a couple of outdoor art shows, several festivals celebrating one ethnic neighborhood or another and a scattering of open‐air concerts.

Herbert T Witzenberger is arrested; NYS police issue warrants for other suspects Kenneth Rieman, 19, Russell Rieman, 15, and Robert L Lewis, 20 (S)

Iacocca and Riccardo will reduce their $360,000 annual salaries to $1 a year for 2 years unless company returns to profitability before then; will earn credits tied to value of Chrysler's stock that will be redeemed by company at end of 2-year period; portraits (M)

Profile of Great Northern Nekoosa Corp under management of James Giffune; mill in Millinocket, Me, is in process of converting several paper machines to turning out special lower-cost papers; company president Robert Hellendale comments; illus; graph of paper industry's production rate; list of company's revenues, net income and earnings per share (L)