News stories from Thursday March 11, 1971

Summaries of the stories the major media outlets considered to be of particular importance on this date:

Fifteen thousand North Vietnamese troops plus tanks are reportedly preparing an attack on the Tchepone, Laos, area currently held by South Vietnam. Communist negotiators boycotted the latest session of the Paris Peace Talks. [CBS] Cambodian Premier Lon Nol is convalescing in Hawaii from a stroke he suffered last month. [CBS] The last witness testified today at Lt. William Calley's trial. Col. Oran Henderson testified that General Westmoreland congratulated the men who were involved at My Lai. Sgt. David Mitchell refused to testify after his defense attorney stated that the Army is reviewing the records of everyone who was at My Lai. The jury must deal with contradictions in testimony from various witnesses throughout the trial. [CBS] Col. Anthony Herbert accused the Army of being slow in investigating the torture and killing of North Vietnamese prisoners, and declared that he may file charges himself. Herbert claims that he witnessed the killing and torturing of prisoners but was told to discontinue his investigation of interrogation techniques. Herbert feels that he is morally and legally responsible to report crimes. [CBS] President Nixon rejected Japan's voluntary textile export restrictions and called for Congress to pass import quotas. Rep. Wilbur Mills said that the President's rejection was "out of hand", and the U.S. should give Japan's voluntary plan a fair trial. [CBS] Postmaster General Blount announced a $1.5 billion Post Office building program to be handled by the Army Corps of Engineers. [CBS] Senator Frank Church introduced legislation to cut aid to countries which are not cracking down on illegal drug traffic to the United States. [CBS] The National Urban League's Whitney Young died today at the age of 49 from a heart attack. [CBS] The Chicago Housing Authority plans to build houses in small units over wide areas. A federal court is forcing the CHA to identify its building sites. Duplexes and two and three-story apartment houses for the poor are being planned for white neighborhoods. Affected homeowners have noted that "do-gooders" are not building this kind of housing in their own neighborhoods, and they believe the CHA projects will bring down property values. Mayor Daley has convinced the city council to postpone consideration of the plan until after the municipal elections in April. [CBS] Shell Oil announced that it hopes to completely extinguish the offshore oil rig fires in the Gulf of Mexico within two weeks. [CBS] Chase Manhattan Bank lowered its prime lending rate to 5.25%. [CBS]

Stock Market Report

Dow Jones Industrial Average: 899.44 (+3.56, +0.40%)
S&P Composite: 99.90 (+0.60, +0.60%)
Arms Index: 1.12

	Issues	Volume*
Advances	673	8.07
Declines	710	9.51
Unchanged	290	2.26
Total Volume		19.84

* in millions of shares

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 10, 1971	895.88	99.30	17.22
March 9, 1971	899.10	99.46	20.49
March 8, 1971	898.62	99.38	19.34
March 5, 1971	898.00	98.96	22.43
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