News stories from Wednesday December 15, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Pakistan requested a cease-fire, but India is demanding that Pakistan surrender. Pakistani President Yahya Khan is scheduled to address his country as Indian forces are within two miles of Dacca. Indian government representative Swaran Singh promised that survivors of the Dacca assault will be well-treated under the Geneva Accord. [CBS]
- India is seeking recognition of the Bangladesh government from the United Nations Security Council. The Pakistani Foreign Minister attacked the Security Council's treatment of Pakistan and walked out. Britain and France have accepted the loss of East Pakistan and are trying to save West Pakistan. [CBS]
- There is some resistance to Indian forces at the East Pakistan towns of Chittagong and Khulna. At Khulna, Indians cut off the Pakistanis to make them scatter or surrender. The Pakistanis then staged a last stand, momentarily stopping the Indians. Some Pakistani refugees have returned from India. [CBS]
- West Pakistani forces invaded Chhamb in the Kashmir region of India. The Indians are mounting a tank offensive to push the Pakistanis back into their own land. [CBS]
- The Pentagon reported that a U.S. Naval task force is within 2-3 days of East Pakistan and will be in position to evacuate Americans from Dacca by air or sea. White House press secretary Ron Ziegler refused to deny that the carrier Enterprise could be used for the evacuation of Pakistanis also. In Karachi, the Pakistani military is convinced that U.S. ships will give military aid.
Soviet ships are also heading for the Indian Ocean. President Nixon has threatened to cancel his trip to Moscow if Russia doesn't help diffuse the war. The U.S. is no longer insisting on immediate Indian troop withdrawal from East Pakistan, instead seeking a cease-fire and political talks.
[CBS] - A Miami-based freighter was attacked by a Cuban gunboat near Little Inagua island off the coast of Cuba. Cuba charged that the freighter is linked to the CIA. [CBS]
- At Valley Forge Hospital in Pennsylvania, doctors allowed Richard Fecteau and Mary Ann Harbert to meet with newsmen. Fecteau declined to be questioned; Miss Harbert will give an interview tomorrow. [CBS]
- The Price Commission set guidelines for medical cost control. Doctors may not raise their fees more than 2.33% and increases in hospital charges may not exceed 6%. Commission chairman Jack Grayson noted that hospital costs have been outpacing the general rate of inflation. [CBS]
- The value of the U.S. dollar continued to drop on world money markets. [CBS]
- The Federal Reserve Board reported that industrial production was up 0.8%. [CBS]
- Senator Robert Taft introduced a bill to permit draft evaders to return to America if they agree to spend three years in government service. Many draft dodgers and deserters in Canada feel that the Taft amnesty bill is just a political move by President Nixon to remove the draft-dodging issue from the upcoming campaign. [CBS]
- A federal grand jury in Chicago indicted former Illinois Governor Otto Kerner for bribery, mail fraud, tax evasion, perjury and conspiracy involving his racetrack investments. [CBS]
- In Oakland, California, the prosecution abandoned its efforts to convict Black Panther leader Huey Newton of killing a policeman in 1967. [CBS]
- An earthquake which occurred in the North Pacific is said to be unrelated to the Amchitka, Alaska nuclear test. [CBS]
- The House passed the defense appropriations bill and a measure for temporarily funding foreign aid. [CBS]
- President Nixon won Congress' support for his plan to devalue the dollar. He now flies to Florida to prepare for his next summit with British Prime Minister Edward Heath. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 863.76 (+8.62, +1.01%)
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 14, 1971 | 855.14 | 97.67 | 16.07 |
| December 13, 1971 | 858.79 | 97.97 | 17.02 |
| December 10, 1971 | 856.75 | 97.69 | 17.51 |
| December 9, 1971 | 852.15 | 96.96 | 14.71 |
| 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 |