News stories from Tuesday September 28, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Cardinal Jozsef Mindszenty flew to Rome after spending the past 15 years at the U.S. embassy in Budapest, Hungary. Mindszenty refused to leave Hungary until now despite entreaties from Pope Paul; the Pope met with Mindszenty at the Vatican. Mindszenty's arrival is the result of negotiations between the Vatican and Hungary. [CBS]
- President Nixon signed the draft extension bill and ordered military pay raises to be delayed until the end of the wage freeze. The Pentagon has approved higher allowances for soldiers' housing, living and travel due to the declining value of the dollar. [CBS]
- 54 congressmen called for a reassessment of America's support for the United Nations if Communist China is admitted and Taiwan is expelled. Senator James Buckley said that if Taiwan is expelled, he would be forced to reassess America's financial and moral support of the U.N.
Rep. John Schmitz said that those who are giving in to China's admittance into the United Nations are taking the soft position. Speaking at the U.N., Soviet Foreign Minister Andrei Gromyko warned that U.S.-China relations shouldn't threaten the USSR.
[CBS] - China postponed explaining of the cancellation of its October Day parade until tomorrow; Black Panther leader Huey Newton arrived in China, but he will return to the U.S. for his trial on charges of killing a policeman. [CBS]
- A treaty to abolish biological weapons was submitted at the Geneva disarmament conference. [CBS]
- Four International Monetary Fund participants proposed paper gold to replace the U.S. dollar as the standard for currency exchange; credit with the IMF would be established on the basis of a country's gold and reserve currencies holdings. [CBS]
- Commerce Secretary Maurice Stans denied that the administration's new economic policy favors business over the consumer; Stans said that most of the 1,250 largest corporations have pledged not to raise their dividends. [CBS]
- Leading business indicators were down 0.9% for August. [CBS]
- Senator Sam Ervin's committee has begun hearings on freedom of the press. Ervin said that the founding fathers understood that the press couldn't be censored without undermining the cornerstone of free expression. Norman Isaacs, president of the American Society of Newspaper Editors, said that the difficulty in reporting the Attica prison riot calls for an examination of official conduct; he believes that the Nixon administration is determined to lower the public's regard for the press and force the news media into a subservient role. White House press secretary Ron Ziegler denied that the administration is trying to intimidate the press. [CBS]
- Vice President Agnew will visit Greece and Turkey next month. [CBS]
- A military court in Athens, Greece, convicted Lady Amalia Fleming and four others for attempting to help Premier George Papadopoulos' would-be assassin escape from jail. [CBS]
- Britain, Ireland and Northern Ireland Prime Ministers ended talks on the situation in Northern Ireland. [CBS]
- Supreme Court Justice Hugo Black's funeral was held in Washington, DC; Black was buried at Arlington National Cemetery. [CBS]
- Navy official Gordon Rule said that Rep. Hale Boggs, Rep. Edward Hebert, Senator Allen Ellender and Senator Russell Long tried to force him to make a favorable decision to a Louisiana firm in a shipbuilding dispute. [CBS]
- On September 8, Senator Edmund Muskie said he didn't think that a ticket with a black running mate could win the presidential election. Muskie's supporters are working to turn the comment to his advantage, calling it "candor", but Muskie's opponents are trying to use the statement against him. President Nixon, Senators Henry Jackson, Birch Bayh, George McGovern, Hubert Humphrey and Mayor John Lindsay have criticized Muskie's position.
Rep. John Conyers said that it is an insult for Muskie to state that American voters are so racist that they would reject even the most qualified black. Los Angeles city councilman Tom Bradley said that he doesn't agree with Muskie's evaluation, but he called Muskie's statement "honest and direct".
[CBS] - Twelve people died in a hotel fire in Eindhoven, Holland. [CBS]
- A student pilot radioed the Oklahoma City airport that he was forced to take off by a kidnapper from Fort Smith, Arkansas, and the kidnapper then bailed out. The pilot later admitted that he took off while drunk, then realized he didn't know how to land. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 884.42 (+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* |
| September 27, 1971 | 883.47 | 97.62 | 10.22 |
| September 24, 1971 | 889.31 | 98.15 | 13.46 |
| September 23, 1971 | 891.28 | 98.28 | 13.25 |
| September 22, 1971 | 893.55 | 98.47 | 14.25 |
| September 21, 1971 | 903.40 | 99.34 | 10.64 |
| September 20, 1971 | 905.15 | 99.68 | 9.54 |
| September 17, 1971 | 908.22 | 99.96 | 11.02 |
| September 16, 1971 | 903.11 | 99.66 | 10.55 |
| September 15, 1971 | 904.86 | 99.77 | 11.08 |
| September 14, 1971 | 901.65 | 99.34 | 11.41 |