News stories from Wednesday September 1, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- South Vietnamese youths rioted in protest of government policies. In Saigon, university students protested compulsory military training at a funeral for a student who was killed during training. Police used tear gas and shot at the students, who were throwing rocks. [CBS]
- Vice President Nguyen Cao Ky's name has been removed from the South Vietnam presidential ballot; the government announced that elections still will be held as scheduled next month. Former presidential candidate General Duong Van Minh charged U.S. Ambassador Ellsworth Bunker with slander and insolence.
A spokesman for Vice President Ky is in the U.S. to meet with officials; he said that public reaction will prevent the presidential election from taking place as scheduled, and that Vice President Ky and his supporters have never mentioned a coup.
[CBS] - Fighting continued in South Vietnam near the DMZ. [CBS]
- Col. Anthony Herbert is losing his job as reenlistment officer at Fort McPherson, Georgia; he has been reassigned to base industrial operations, including supervision of the incinerator. Herbert is retiring next year due to Army pressure after charging other officers with atrocities in Vietnam. [CBS]
- The Virginia Supreme Court said that an insurance company must pay the survivor of a soldier who was killed in auto accident in South Vietnam, because the conflict there is not legally a war. [CBS]
- Attorney General John Mitchell said that college students should not be allowed to vote in college towns if it is not their home town. [CBS]
- New 18-20 year old voters will have a measurable impact; it is believed that most of the new voters will vote for the Democratic nominee against President Nixon. [CBS]
- The government is still not sure whether teachers will receive raises in spite of the wage freeze. Treasury Undersecretary Charles Walker said that most teachers won't receive raises during the freeze, but the National Education Association claims that the Cost of Living Council indicated that raises could be paid to most teachers; a final decision is still pending.
President Nixon froze the wages of federal workers and the military.
[CBS] - The U.S. will sell 175 Phantom jets to West Germany. [CBS]
- 74-year-old Mrs. Sarah Krasnoff and her grandson flew back and forth between New York City and Amsterdam, Holland, almost daily this summer; Mrs. Krasnoff died of a heart attack last night; the boy has been reunited with his father. [CBS]
- The Florida Power and Light Company has agreed not to put water hotter than 95 degrees into Biscayne Bay. [CBS]
- A man killed his Lincoln Continental after two years of trouble with it. Eddie Campos burned his car on the lawn of the Ford Motor Company assembly plant in Pico Rivera, California. Campos said that poor people always get rotten car deals. He saved for four years to buy the car but could have got the same service out of a wheelbarrow; now Ford knows he had a lemon. The dealer says that the car was repaired 11 times in 22 months, and Campos' charges are a gross exaggeration. [CBS]
- Former food industry lobbyist Peter Mutt has become general counsel to the Food & Drug Administration; FDA general counsel William Goodrich retired to become the head of the same food lobbying organization Mutt worked for. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 899.02 (+0.95, +0.11%)
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* |
| August 31, 1971 | 898.07 | 99.03 | 10.43 |
| August 30, 1971 | 901.43 | 99.52 | 11.14 |
| August 27, 1971 | 908.15 | 100.48 | 12.49 |
| August 26, 1971 | 906.10 | 100.24 | 13.99 |
| August 25, 1971 | 908.37 | 100.41 | 18.28 |
| August 24, 1971 | 904.13 | 100.40 | 18.70 |
| August 23, 1971 | 892.38 | 99.34 | 13.04 |
| August 20, 1971 | 880.91 | 98.33 | 11.89 |
| August 19, 1971 | 880.77 | 98.16 | 14.19 |
| August 18, 1971 | 886.17 | 98.60 | 20.68 |