News stories from Tuesday June 15, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A federal judge ordered the New York Times not to publish any more of a classified Pentagon report on U.S. involvement in the Vietnam war; the Times will resist the permanent injunction at a hearing Friday. Articles that were published today tell of former President Lyndon Johnson's secret decision to increase U.S. troop strength in South Vietnam in 1965. Secretary of State Rogers said that disclosure of the report is serious because it affects foreign governments' confidence in dealing with the U.S. confidentially. Other administration officials also criticized the disclosure of the report, whose writers were not named. Senator Mike Mansfield was delighted by the publication of the papers. [CBS]
- Secretary of State William Rogers said that no date for U.S. withdrawal from South Vietnam will be set; he is disappointed that former Defense Secretary Clark Clifford did not bring his plan for obtaining the release of POWs to the government first.
Senate debate on the McGovern-Hatfield amendment is concluding. The amendment calls for cutting off funds for the Vietnam war on December 31. Senator George McGovern said that he can't understand why any senators would vote against the amendment since the American public obviously favors it. Senator Lawton Chiles introduced a bill setting a June 30th, 1972 withdrawal date. Chiles believes that senators may vote against the McGovern-Hatfield amendment because it sets a date only 4 months away and would weaken President Nixon's position; Chiles hasn't decided how he will vote on the amendment.
[CBS] - A U.S. patrol was ambushed north of Saigon.
South Vietnamese forces broke the siege of Fire Base 5.
An American cargo vessel was damaged by a mine explosion.
[CBS] - President Nixon will address the nation on Thursday regarding the drug problem; he will ask Congress for $125 million to set up a new program to address the issue. [CBS]
- Cuba fined five Americans $20,000 apiece for their violation of Cuba's territorial waters; the U.S. is undecided about paying the fines. [CBS]
- The House approved a $2 billion program to create more jobs through increased public works construction; President Nixon may veto the program. [CBS]
- The federal government has filed six lawsuits to halt racial discrimination in housing. In Black Jack, Missouri, residents were upset yesterday by the government's suit against zoning to prevent the construction of a housing project. Residents noted that Black Jack was integrating without trouble; now the government is forcing things the people don't want. An attorney for the city asked how he can prove to the federal government that racial discrimination doesn't exist in Black Jack. [CBS]
- The National Urban League named Vernon Jordan as executive director to replace the late Whitney Young. [CBS]
- House Armed Services Committee chairman Edward Hebert will block $800 million for F-14 fighter plane development until the Pentagon reports on problems with construction costs. [CBS]
- President Nixon named Robert Froehlke as the new Secretary of the Army, replacing Stanley Resor. [CBS]
- The Bank of California will increase its prime interest rate to 6% on Monday. [CBS]
- The National Guard remains in Albuquerque, New Mexico, after two days of rioting. [CBS]
- The Bituminous Coal Operators Association asked a federal court to stop a mine workers strike in support of UMW union president Tony Boyle. Boyle was recently stripped by the federal government of his trusteeship of the union's pension fund. [CBS]
- Italian elections resulted in gains for neo-Fascists. The gains are considered a no-confidence vote for the Christian Democratic Party government; the vote could cause a government reorganization and a new Prime Minister. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 907.20 (-0.51, -0.06%)
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* |
| June 14, 1971 | 907.71 | 100.22 | 11.53 |
| June 11, 1971 | 916.47 | 101.07 | 12.27 |
| June 10, 1971 | 915.96 | 100.64 | 12.45 |
| June 9, 1971 | 912.46 | 100.29 | 14.25 |
| June 8, 1971 | 915.01 | 100.32 | 13.61 |
| June 7, 1971 | 923.06 | 101.09 | 13.80 |
| June 4, 1971 | 922.15 | 101.30 | 14.40 |
| June 3, 1971 | 921.30 | 101.01 | 18.79 |
| June 2, 1971 | 919.62 | 100.96 | 17.74 |
| June 1, 1971 | 913.65 | 100.20 | 11.93 |