News stories from Tuesday April 13, 1971

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

South Vietnamese reinforcements are attempting to break the two-week siege of Fire Base No. 6, as U.S. planes continue to bomb the area around the base; 10,000 South Vietnamese troops are opposing 10,000 North Vietnamese in the battle. [CBS] Defense Secretary Laird stated that even after American ground forces are withdrawn from South Vietnam, the Navy and Air Force will remain. The U.S. role in ground combat will end this summer. [CBS] In Belfast, Northern Ireland, the Orangemen Annual Easter Tuesday Show of Strength March was peaceful, but a smaller march resulted in violence when Protestants entered a Catholic area. [CBS] The East Pakistan rebellion has reportedly been crushed by the West Pakistani army. Rebels no longer display flags and lack leadership. [CBS] Britain will buy six American helicopters to ship to Ceylon for use against the leftist rebellion. Seven Indian helicopters have entered the fighting against the rebels. [CBS] The U.S. ping-pong team will meet Red Chinese Premier Chou En-lai tomorrow; U.S. teams lost matches to second-string Chinese teams today. U.S. player John Tannehill said that he would like to stay in Communist China longer, and he called Chairman Mao the world's greatest moral and intellectual leader; Tannehill said that Americans are "conformists" compared to the Chinese. A Boston radio station was allowed to make the first U.S. telephone call to Red China in 2½ years. [CBS] The Nixon administration issued an inflation alert which states that presidential pressure will be applied against steel unions. Economic adviser Paul McCracken said that the length of a possible steel workers' strike and the resulting agreement would affect inflation, unemployment and the general economy. The alert also warns of inflation in meat processing, the oil industry, freight industry, lumber industry, construction industry, and taxi cab rates. United Steel Workers president I. W. Abel charged that the administration is trying to cover up its own failures by singling out workers. [CBS] The federal government demanded that Nevada restore welfare payments to 15% of the 22% of recipients who were recently cut from welfare rolls. [CBS] FBI records were stolen last month from a small office in Media, Pennsylvania; now the FBI, CIA and Secret Service are considering closing some small offices as a result. [CBS] Police raided the Stanford University newspaper in search of evidence about a violent incident on campus last Friday. A sit-in at Stanford Hospital in protest of the firing of a black janitor resulted in the arrest of 23 people and injuries to 13 policemen. Last night the police, with a search warrant, checked the files of the Stanford Daily for pictures of the demonstrators. The editor of the paper said that she intends to publish photos which are considered newsworthy, and she will destroy any incriminating negatives. The Palo Alto police chief reported that most of those who were involved in the sit-in were not students.Stanford University president Richard Lyman said that if he had been informed of police intentions to search the newspaper office, he would have advised against it. [CBS] Three bandits held a bank manager captive overnight then forced him to open the Fort Hamilton Military Reservation bank vault in the morning. The robbers got away with $250,000. [CBS] Fayette, Mississippi, Mayor Charles Evers admitted his former involvement in prostitution, bootlegging and gambling. He said he was forced into those operations because of racism. Evers is expected to be a nominee for Governor of Mississippi in the next election. [CBS] The Safeway supermarket chain will equalize job status and pay for men and women, and will drop the "light duty" category which is held mostly by women. [CBS] The cosmetics industry agreed to list the ingredients of its products with the federal government, if the lists are kept secret. [CBS] Researchers at the North Carolina School of Medicine reported that tar from marijuana produces the same destructive changes in mice as cigarette tar. [CBS] President Nixon's inflation alert has brought attention to the economy, but the focus on economic problems comes inopportunely at income tax time. American citizens pay taxes without much complaint, despite weariness with the Vietnam war and mediocre social programs. Citizens pay partly out of a sense of duty, a fear of being in trouble if they don't, and the psychological satisfaction of paying. [CBS] Former Senator Eugene McCarthy will become an English professor at the University of Maryland. [CBS]

Stock Market Report

Dow Jones Industrial Average: 927.28 (+0.64, +0.07%)
S&P Composite: 102.98 (+0.10, +0.10%)
Arms Index: 0.81

	Issues	Volume*
Advances	742	12.10
Declines	660	8.72
Unchanged	288	2.38
Total Volume		23.20

* 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*
April 12, 1971	926.64	102.88	19.41
April 8, 1971	920.39	102.10	17.59
April 7, 1971	918.49	101.98	22.27
April 6, 1971	912.73	101.51	19.99
April 5, 1971	905.07	100.79	16.04
April 2, 1971	903.04	100.56	14.52
April 1, 1971	903.88	100.39	13.47
March 31, 1971	904.37	100.31	17.61
March 30, 1971	903.39	100.26	15.43
March 29, 1971	903.48	100.03	13.65