News stories from Thursday March 25, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Associated Press reported that South Vietnamese casualties from the Laos operation were equal to half of the invasion force. South Vietnam claims to have killed 10 Communists for every one South Vietnamese who was killed.
South Vietnam refused the U.S. request to maintain the base at Khe Sanh, so it is being dismantled. The Pentagon reports that North Vietnam is setting up artillery in the demilitarized zone.
[CBS] - Secretary of State Rogers privately briefed the Senate on U.S. policy in the Mideast. Rogers eased fears that the Nixon administration is pressuring Israel to withdraw from occupied territory before a settlement is negotiated with Egypt. Rogers' briefing followed Israel Foreign Minister Abba Eban's speech to the Senate last week. United Nations mediator Gunnar Jarring is flying to Moscow to visit family; he may stay there unless peace talks resume. [CBS]
- The State Department confirmed the report that a Japanese firm has offered to buy the U.S. government's SST assets. Senator Muskie introduced a bill to use $100 million of the money saved by the defeat of the SST for mass transit and aviation safety. [CBS]
- The Labor Department added five cities to the list of those with 6% or more unemployment. [CBS]
- Welfare reform legislation was discussed by the House Ways and Means Committee. The committee agreed, in a tentative vote, to a $2,400 minimum income for a family of four. The Nixon administration is going along with Congress' reforms despite fears that they may be an alternative to the revenue sharing plan he favors. [CBS]
- President Nixon sent his proposal to Congress to reorganize the Executive Branch. [CBS]
- The Senate confirmed William Casey as head of the Securities and Exchange Commission. [CBS]
- Democratic party chairman Lawrence O'Brien will ask for equal television time for the Democrats in order to balance recent television appearances by President Nixon. [CBS]
- The federal government will review the contempt of court sentences which were given to some of the defendants in the Chicago-Democratic National Convention riot conspiracy trial. [CBS]
- Ford Motor Company announced that it will de-emphasize styling changes in new model cars in order to cut production costs. [CBS]
- Black members of Congress met with President Nixon. Black Caucus chairman Charles Diggs presented Nixon with a 32-page statement. Diggs said that the President was sympathetic to the presentation, but implementation of the Black Caucus' demands is what's important in the final judgment. Rep. Shirley Chisholm said despite the fact that all of the blacks in Congress are Democrats, the members of the Black Caucus are not motivated by partisan politics but by their concern for the 25 million blacks in the United States. [CBS]
- In Opa-Locka, Florida, buildings were burned and stores were looted by blacks after an accidental death during a police shootout with a bandit. Later, the persons involved in the looting helped clean up the downtown area. An investigation into blacks' grievances has begun. [CBS]
- The University of South Carolina elected its first black student president, Harry Walker. [CBS]
- Britain's Taylor and Cutter's new list of the 100 best-dressed men includes Communist China's Chairman Mao Tse-tung. [CBS]
- Twenty-one-year-old Polish musician and dancer Richard Gabriel defected to the United States. [CBS]
- A man who was nearly executed twice was released from Folsom Prison. Paul Imbler was released after spending 10 years on death row following his conviction for the murder of a Los Angeles grocer; a federal court recently overturned the conviction. Imbler is starting work as a kitchen helper next week, and said that he will spend most of his free time working to abolish capital punishment. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 900.81 (+1.44, +0.16%)
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 24, 1971 | 899.37 | 99.62 | 15.72 |
| March 23, 1971 | 908.89 | 100.28 | 16.47 |
| 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 |