October 11, 1979

Alexander says Dix will remain open for at least 12 to 18 months

credit markets plunge and interest rates soar in response to Federal Reserve moves (M)

A table in Business Day yesterday gave an incorrect date for a 26.99‐point decline in the Dow Jones Industrial average in 1974. It occurred on Jan. 9.

Senate debate on the arms treaty with the Soviet Union may begin about Nov. 1, according to the majority leader, Senator Robert C. Byrd. But there is still doubt about the schedule for committee and floor debate. Senate Republicans expressed doubt that there were enough votes to approve the treaty even though the Administration pledged to provide an outline of future military spending plans before the Senate vote. [Page Al, Columns 2‐3.]

Sen majority leader Sen Robert C Byrd says he hopes to begin debate on treaty by about Nov 1; urges Foreign Relations Committee to complete preparatory work; says he does not intend to present treaty to Sen for full action if defeat seems likely; committee ends hearings on treaty; will begin deliberations within days; Armed Services Committee member Sen Howard W Cannon says he may oppose treaty since it is unfair and weighted in favor of USSR; Sens Barry Goldwater and Birch Bayh testify on committee's findings about US ability to monitor Soviet compliance with accord; Bayh says 'sizeable majority' of Senate Intelligence Committee feels more confident about verification than indicated in recent committee report; Carter Adm, in statement by Defense Sec Harold Brown, pledges to give Congress outline of future military spending before Sen votes on pact; Sen Republicans voice doubt that there are enough votes to insure approval of pact (M)