News stories from Monday March 15, 1971

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

North Vietnam attacked South Vietnamese forces at Fire Base Lolo in Laos and shelled Khe Sanh, South Vietnam. [CBS] Enemy positions were overrun by Cambodian forces near Phnom Penh. [CBS] The prosecution summed up its case in Lt. William Calley's trial. Prosecution attorney Aubrey Daniel stated that proof of even just one murder at My Lai is enough to find Calley guilty; Daniel scoffed at the defense psychiatrist's testimony. [CBS] Folk singer Joan Baez greeted her husband, David Harris, upon his release from prison today. He had served a jail term for refusing induction into the military. [CBS] The State Department lifted its 20-year ban on travel to Red China. [CBS] A congressional conference committee agreed on a 10% increase in Social Security benefits. Higher boosts in benefits which had been approved by the Senate were eliminated by the conference. [CBS] Senator Sam Ervin noted that Social Security numbers are required for identification on credit applications and for voter registration, despite the Social Security card saying it is not to be used for identification purposes. But Health, Education and Welfare Secretary Richardson claims that using Social Security numbers in that manner is not illegal, and he stated that safeguards exist to prevent unauthorized persons from obtaining information in government files under Social Security numbers. [CBS] At a Senate committee hearing, Senator Edmund Muskie charged that the government is not doing enough against pollution. Muskie attempted to obtain a specific deadline for clean water from Environmental Protection Agency director William Ruckelshaus. Ruckelshaus presented an alternate route for the Alaska oil pipeline to the committee but said that he is not advocating it. The alternate route would cost twice as much to build. [CBS] Former Rep. Edward Mitchell reportedly punched Rep. Hale Boggs outside a gridiron dinner during an argument. Boggs threatened a lawsuit; Mitchell said he would meet Boggs in court or in a gym. [CBS] The Federal Reserve Board reported that industrial production in February was down 0.4%. [CBS] President Nixon declared Florida a disaster area due to frost damage to crops; $2.5 million was granted to aid jobless migrant workers. [CBS] Israeli Foreign Minister Abba Eban is on his way to the United States with new Mideast peace proposals. Eban may propose leasing Sharm el-Sheikh from Egypt to insure Israeli access to the Strait of Tiran. [CBS] Turkish President Sunay says that his new government will halt terrorism. An American was pistol whipped last night, and bombs exploded in front of the U.S. consulate.The United States created the Turkish army after World War II. Now Turkey's military has forced the resignation of a pro-American government and it is demanding a new government with a stronger stand against anarchy. The Soviet Union will provide aid to Turkey for new industries. [CBS] Four gunmen received $50,000 ransom and a getaway car in Toulouse, France, after a day-long gun battle with police following a bank robbery. [CBS]

Stock Market Report

Dow Jones Industrial Average: 908.20 (+9.86, +1.10%)
S&P Composite: 100.71 (+1.14, +1.14%)
Arms Index: 0.69

	Issues	Volume*
Advances	1,003	13.16
Declines	420	3.80
Unchanged	257	1.97
Total Volume		18.93

* 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 12, 1971	898.34	99.57	14.68
March 11, 1971	899.44	99.90	19.83
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