News stories from Wednesday January 13, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Berrigan brothers denied their involvement in kidnapping or bombing plots after they and 11 others were named as defendants or conspirators in an indictment today. Reverend Neil McLaughlin, former priest Anthony Scoblick and Reverend Job Wenderoth were arrested in Baltimore; attorneys for those arrested said that bail for their clients is set too high. The indictment claims that there was a plot to kidnap foreign affairs adviser Henry Kissinger, and to bomb the heating systems of government buildings. [CBS]
- The Interior Department recommends building an oil pipeline across Alaska. Environmentalists are worried about the destruction of tundra and upsetting the migration patterns of caribou. The government report admits that there may be some environmental damage but says that national security makes the pipeline necessary. A former Secretary of the Interior and the Governor of Alaska stated that the report indicates enough environmental safeguards for the project to be able to proceed. [CBS]
- The National Weather Service reported that building high density housing on shorelines and river valleys exposes more Americans to hurricanes and floods. [CBS]
- Israel charged that Egyptian planes flew over the Suez Canal today in violation of the cease-fire agreement. [CBS]
- The President of the Soviet Union was in Egypt to take part in the dedication of Aswan Dam. The dam will provide 10 times the amount of electricity that was formerly available in Egypt. Water from the dam will also make 1.5 million acres cultivatable. America's refusal to aid in building the dam gave the USSR a foothold in Egypt; the Soviets financed one-third of the project. The dam is a military target if war resumes. [CBS]
- A University of Michigan research team reported that 20% of the mummies that they x-rayed in a Cairo museum have gold and jewels under their wrappings. [CBS]
- South Vietnamese and Cambodian forces encountered resistance in their drive to reopen Highway 4 in Cambodia. A South Vietnamese convoy reached its furthest point ever into Cambodia. [CBS]
- A soldier in South Vietnam is being charged with the murder of an Army major and the attempted murder of another, whom he wounded. [CBS]
- Five young Democratic representatives are attacking the seniority system of Congress. They propose a limit on the number of committees that a representative can head, a maximum of four terms on a committee and no committee chairman beyond the age of 70.
Rep. Brock Adams says that changes are necessary so the House can function. Rep. Thomas Rees stated that the rebels are simply trying to spread the base of participation. Their proposals were made before the House Democrat caucus. If the new rules are adopted, seven current committee chairmen would be unseated.
[CBS] - A federal grand jury indicted Robert Carson, who is the chief aide to Hawaii Senator Hiram Fong, on charges of perjury to conspire to fix a securities fraud case. [CBS]
- A black minister won the Democratic nomination from Washington, DC as the District's delegate to Congress; it is a non-voting seat. [CBS]
- It was announced that Postmaster General Winton Blount will continue as the head of the Post Office after its switch from a cabinet department to an independent agency on July 1. [CBS]
- The Treasury Department stated that hearings will be held in connection with President Nixon's tax breaks for business. Ralph Nader entered the Common Cause lawsuit, claiming that the President's action bypassed required public hearings. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 841.11 (-3.08, -0.36%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| January 12, 1971 | 844.19 | 92.72 | 17.82 |
| January 11, 1971 | 837.21 | 91.98 | 14.72 |
| January 8, 1971 | 837.01 | 92.19 | 14.10 |
| January 7, 1971 | 837.83 | 92.38 | 16.46 |
| January 6, 1971 | 837.97 | 92.35 | 16.96 |
| January 5, 1971 | 835.77 | 91.80 | 12.60 |
| January 4, 1971 | 830.57 | 91.15 | 10.01 |
| December 31, 1970 | 838.92 | 92.15 | 13.39 |
| December 30, 1970 | 841.32 | 92.27 | 19.14 |
| December 29, 1970 | 842.00 | 92.08 | 17.75 |