News stories from Thursday December 9, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The House and Senate passed the tax bill which increases personal exemptions, permits business equipment deductions, repeals the 7% auto sales tax, allows deductions for the cost of baby-sitters, and contains the check-off plan for taxpayer financing of campaigns starting in 1976. [CBS]
- President Nixon vetoed the anti-poverty bill which contains a child-care program for the poor, stating that there is no immediate need for child care centers. Senator James Buckley praised the veto; Rep. John Brademas said that the veto imposes a cruel "freeze" on the lives of American children. The House passed a supplemental bill to keep the Office of Economic Opportunity alive until June, 1972. [CBS]
- Indian troops have surrounded Dacca, East Pakistan, and a nearby orphanage was bombed. India stated that it will cease bombing Dacca and Karachi, West Pakistan, in order to permit the evacuation of foreign nationals. India captured two more East Pakistan towns on the banks the of Ganges River. In West Pakistan, Indian ships bombed the coast near Karachi where an English ship was damaged. Indians met heavy resistance at Hili, though Pakistanis are cut off from supplies and are outnumbered. Indians are having a harder time in the west, as West Pakistan has air support.
Pakistan agreed to the United Nations' cease-fire and withdrawal proposal, but India is refusing until the Bangladesh government is recognized.
[CBS] - India's legislature stripped Maharajahs of their annual pensions. Tax exemptions, duty free imports, free utilities and titles were banned. [CBS]
- North Vietnam refused a U.S. proposal to allow a neutral agency to handle POWs' mail. [CBS]
- Murder charges were dropped against General John Donaldson. He was accused of killing six Vietnamese civilians from his helicopter. [CBS]
- A two-month secret trial ended in Cairo with a death sentence for former Egyptian Vice President Aly Sabry for his attempt to overthrow President Anwar Sadat's government. Former Interior Minister Sharawy Gomaa and former Minister for Presidential Affairs, Sami Sharaf, received similar sentences. The sentences for all three were commuted by President Sadat to life at hard labor. Former War Minister Mohammed Fawzi had been sentenced to life; his sentence was commuted by Sadat to 15 years. [CBS]
- Dr. Ralph Bunche died in New York at age 67, following an illness which forced him to retire as United Nations Undersecretary General. Bunche won the Nobel Peace Prize in 1950 for helping bring peace to the Mideast in 1949. [CBS]
- A coalition of civil rights groups charged the federal government with subsidizing racial discrimination in law enforcement. The NAACP's Roy Wilkins cited the Mississippi highway patrol as an example. Attorney General John Mitchell said that federal agencies are tightening anti-discrimination bans. [CBS]
- A White House commission recommended to President Nixon that the reporting of crime statistics be handled by an agency independent of the FBI. The proposal is based on a study by commission consultant Hans Zeisel of the University of Chicago law school, which accused the FBI of using crime statistics to support its own position on law enforcement. [CBS]
- Murder indictments were handed down in the death of a Negro youth who was beaten by Memphis police in October, an incident which resulted in riots. Witnesses George Barnes and Calvin McKissick contradicted the story that Elton Hayes died in a car wreck after being chased by police. The coroner's report says that death was due to blows on the head. Nine Memphis lawmen have been indicted, four of them on first-degree murder charges, including Lt. Theodore Wilks, a Negro. [CBS]
- The National Heart and Lung Institute reported that hardening of the arteries is the paramount health problem of our time. The affliction causes heart attacks and strokes. [CBS]
- The National Center for Disease Control reported outbreaks of red measles in St. Petersburg, Florida; Burlington, Iowa; and Lansing, Michigan. [CBS]
- In Beverly Hills, California, a Women's lib group recommends "equality in finances" for a wife's Christmas gift. The gift is a document which nullifies a California law giving husbands 100% control of community property. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 852.15 (-2.70, -0.32%)
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* |
| December 8, 1971 | 854.85 | 96.92 | 16.65 |
| December 7, 1971 | 857.40 | 96.87 | 15.25 |
| December 6, 1971 | 855.72 | 96.51 | 17.48 |
| December 3, 1971 | 859.59 | 97.06 | 16.76 |
| December 2, 1971 | 848.79 | 95.84 | 17.78 |
| December 1, 1971 | 846.01 | 95.54 | 21.04 |
| November 30, 1971 | 831.34 | 93.99 | 18.32 |
| November 29, 1971 | 829.73 | 93.41 | 18.91 |
| November 26, 1971 | 816.59 | 91.94 | 10.87 |
| November 24, 1971 | 798.63 | 90.33 | 11.87 |