News stories from Friday March 5, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Mideast cease-fire deadline is Sunday. United Nations Secretary General U Thant is appealing for an extension of the cease-fire, and he urged Israel to accept the 1948 boundaries of Palestine. [CBS]
- The expected battle for Tchepone, Laos, is yet to begin; 2,000 South Vietnamese soldiers have been ferried into position by U.S. helicopters, after seven half-ton bombs cleared landing areas. Defense Secretary Melvin Laird says that Tchepone itself is not the objective, disrupting enemy supply routes in the area is. Attacking the town would be a waste of effort. [CBS]
- Defense Secretary Laird announced the creation of an educational program on race relations for all military personnel. [CBS]
- Secretary of State Rogers testified before a Senate committee concerning the ratification of a 1925 treaty which would ban chemical and biological weapons. There was no confrontation between the senators and Rogers about charges that foreign affairs adviser Henry Kissinger has usurped Rogers' power. Congress' attempts to have Kissinger testify before Senate committees failed. [CBS]
- The February wholesale price index up was 0.9%; the unemployment rate was down from 6% to 5.8%. Treasury Secretary Connally said that the drop in unemployment was not large enough to guarantee future trends. [CBS]
- A federal grand jury indicted the publisher of the pornographic version of the government's pornography report for mailing obscene matter. [CBS]
- International Teamsters union vice president Salvatore Provenzano was arrested for counterfeiting money, postage stamps and food stamps. [CBS]
- Turkish soldiers and police battled students in Ankara while attempting to search for four kidnapped U.S. Air Force men. The kidnappers are demanding $400,000 in ransom by tonight. [CBS]
- Canadian Prime Minister Pierre Trudeau married 22-year-old Margaret Sinclair. [CBS]
- Britain proposed a cost-sharing plan to rescue the Rolls Royce jet engine deal with Lockheed. Britain would put up $144 million; Lockheed has yet to decide. [CBS]
- Transportation Secretary Volpe ruled that 1974 cars must have safety devices to protect passengers in crashes up to 30 mph. Air bags were the most frequently mentioned safety device. [CBS]
- The Muhammad Ali-Joe Frazier heavyweight boxing match will take place on Monday. The match will be broadcast worldwide; gross revenues may be $20-$30 million. Jack Kent Cooke put up $4.5 million of the $5 million guarantee to the boxers, and says that he hopes to make 50 cents on each of 1½ million seats sold in the U.S. and Canada. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 898.00 (+6.64, +0.74%)
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* |
| March 4, 1971 | 891.36 | 97.92 | 17.35 |
| March 3, 1971 | 882.39 | 96.95 | 14.68 |
| March 2, 1971 | 883.01 | 96.98 | 14.87 |
| March 1, 1971 | 882.53 | 97.00 | 13.02 |
| February 26, 1971 | 878.83 | 96.75 | 17.25 |
| February 25, 1971 | 881.98 | 96.92 | 16.20 |
| February 24, 1971 | 875.62 | 96.73 | 15.93 |
| February 23, 1971 | 870.00 | 96.09 | 15.08 |
| February 22, 1971 | 868.98 | 95.72 | 15.84 |
| February 19, 1971 | 878.56 | 96.74 | 17.86 |