News stories from Tuesday March 23, 1971

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

U.S. helicopters are withdrawing from Khe Sanh, South Vietnam, as the Laos operation nears its end; 2,000 South Vietnamese troops are still in Laos. North Vietnamese commandos attacked Khe Sanh. Near Khe Sanh, platoons refused an order to recover a damaged armored personnel carrier on Highway 9 and pulled back to the base. General John Hill said that the men can be shot for refusing an order, but he took no action. Defense Department spokesman Jerry Friedheim stated that South Vietnamese forces would have stayed longer in Laos if the enemy had not resisted so strongly. President Nixon complained in an interview last night that news reports have concentrated only on the four South Vietnamese battalions which were in trouble in Laos, and ignored the other 18 battalions. [CBS] Laos Premier Souvanna Phouma appealed to Britain and the Soviet Union to do something about North Vietnam's threat to Luang Prabang. Communist forces are within two miles of the city. [CBS] Lt. William Calley's lawyers are unhappy that jurors are wining and dining instead of buckling down to reach a verdict. Judge Reid Kennedy noted that the jurors did relax and drink on Sunday night, but he feels that the jurors are entitled to some relaxation. [CBS] The House passed a constitutional amendment to lower the voting age to 18 for all elections; 38 states must now ratify the amendment. [CBS] The Senate will vote on funds for the supersonic transport tomorrow. Nine Senators are still uncommitted about the upcoming vote; voting records currently read 49-46 against the SST. Vice President Agnew will vote in case of a tie. Senator Edward Kennedy called the supersonic transport a "flying toy for the jet set"; Senator Warren Magnuson accused SST opponents of blocking progress.President Nixon is personally contacting undecided Senators to convince them to vote for the SST, emphasizing job losses if the supersonic transport is not approved. House Republican leader Gerald Ford stated that 13,000 workers would be laid off immediately and 10,000-15,000 more later if funds are not approved tomorrow. [CBS] West Germany will order U.S. Phantom jet fighters to replace its own Star fighters which have crashed during the last 10 years. [CBS] The Supreme Court refused a case brought by the state of Ohio against Michigan and Canadian chemical firms for poisoning Lake Erie; the case will be heard in an Ohio court instead. It is believed that the Supreme Court would uphold the Ohio court's decision if the allegations prove to be true. [CBS] Senators Jacob Javits and Henry Jackson attacked the Nixon administration's position of demanding that Israel withdraw from occupied territory, but Senator William Fulbright warned that Israel risks losing U.S. support if refuses to accept withdrawal. [CBS] Two people were killed as 70,000 European farmers rioted in Brussels, Belgium, in protest against a three-year income freeze. Common Market agriculture ministers are meeting in Brussels to set farm prices for 1971. Economists feel that Europe has too many farmers. [CBS] Northern Ireland chose Brian Faulkner as its new Prime Minister. Unionist Party leadership elected Faulkner by a vote of 26 to 4. Faulkner says that the main problem in Northern Ireland is a lack of law and order. He stated that the country needs practical ways to eliminate terrorism, sabotage, riots and disorders, and no law abiding people need fear repression. [CBS] President Roberto Levingston of Argentina attempted to fire the leader of the military junta, General Lanusse, but failed. The junta wants to return the nation to civilian rule in a year or two. [CBS] East Pakistan denied reaching an agreement with West Pakistan, despite reports of an agreement yesterday. East Pakistan is tired of domination by West Pakistan and has threatened to form a new nation called "Bangla Desh". East Pakistan leader Sheik Mujibur Rahman said that "a united people, fighting for a just cause, cannot be suppressed." The West Pakistan army currently patrols East Pakistan; a declaration of independence would result in a bloodbath. [CBS] House Commerce Committee chairman Harley Staggers promised to launch an investigation of Railpax's proposed railroad network after receiving complaints from many cities. The Interstate Commerce Commission approved rate increases between 6% and 14% for the U.S. railroad freight industry, but warned the industry to improve service to shippers. [CBS] President Nixon devoted most of his televised interview last night to Indochina. The interview was unique, being the first with a single reporter and the first to air on a single network. That format gives viewers the choice of watching the President or another program; only 11% watched the interview according to rating services. The low rating may reflect the fact that the American people are tired of hearing about the Vietnam war. [CBS] U.S. military command in Saigon called the recent bombing of North Vietnam "limited duration protective reaction air strikes". A spokesman said that "limited duration" means the same thing as "re-enforced protective reaction", but different than "spontaneous protective reaction". [CBS]

Stock Market Report

Dow Jones Industrial Average: 908.89 (-1.71, -0.19%)
S&P Composite: 100.28 (-0.34, -0.34%)
Arms Index: 0.74

	Issues	Volume*
Advances	505	6.51
Declines	833	7.93
Unchanged	311	2.03
Total Volume		16.47

* 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 22, 1971	910.60	100.62	14.29
March 19, 1971	912.92	101.01	15.15
March 18, 1971	916.83	101.19	17.91
March 17, 1971	914.02	101.12	17.07
March 16, 1971	914.64	101.21	22.27
March 15, 1971	908.20	100.71	18.92
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