News stories from Monday July 12, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Associated Press reports that three rebel generals who were involved in the attempted coup against King Hassan II of Morocco have been executed. Hassan held a news conference and said that the coup attempt may have been organized by Libya. [CBS]
- President Nixon signed a $2.25 billion bill to create 150,000 jobs, and explained why he signed this bill when he vetoed a similar one last year.
The AFL-CIO has begun a jobs conference in Washington, DC. AFL-CIO president George Meany says that the economy is lousy and Treasury Secretary Connally doesn't understand the problems of American workers. House Speaker Carl Albert blamed the Nixon administration for the economic situation.
[CBS] - The head of the FAA testified that big new jets are making less noise than old planes, and that changes in flight patterns are not made at the expense of safety. A new FAA policy keeps planes high during landing and takeoff in order to minimize noise. Airline Pilots Association V.P. Alex Bonner has accused the FAA of requiring pilots to sacrifice safety to minimize noise. Congress is considering bills to cut engine noise rather than continue having pilots make steep takeoffs and landings. [CBS]
- The National Women's Political Caucus is demanding that half of the delegates to next year's political conventions be women. [CBS]
- Presidential adviser Henry Kissinger left Paris, France, after meeting with the American delegation to the peace talks. Kissinger did not meet with North Vietnamese politburo member Le Duc Tho; the U.S. wants to know more about North Vietnam's peace proposal before entering definitive negotiations.
Senators Walter Mondale and Thomas Eagleton introduced a resolution demanding that President Nixon to give serious consideration to North Vietnam's proposal.
[CBS] - The Army announced that General James Baldwin has been relieved of his command as the result of 33 soldiers being killed by an enemy raid on Fire Base Mary Ann in South Vietnam. [CBS]
- Another British soldier was killed in Belfast, Northern Ireland. Protestants in Northern Ireland are celebrating their victory over the Catholics in 1690. [CBS]
- A House-Senate conference committee was unable to agree on the form of the draft extension bill; their next meeting will be July 20. [CBS]
- Havana radio reported that two men were thwarted by passengers in their attempt to hijack a Cuban airplane. [CBS]
- The FTC asked Grolier Incorporated to agree that door-to-door encyclopedia sales are binding only after the salesman and the customer sign a statement to the effect that the customer was aware that the salesman entered the house to sell an encyclopedia. [CBS]
- Billie Sol Estes was released from prison after serving six years for swindling. [CBS]
- Francis and Merle Dellanbach live in an abandoned ICBM missile site in Wyoming; their front door weighs 45 tons and takes two minutes to open. The real estate cost the government $5 ½ million and the equipment another $5 ½ million. The Dellanbachs bought the site for $3,116.60. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 903.40 (+1.60, +0.18%)
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* |
| July 9, 1971 | 901.80 | 100.69 | 12.64 |
| July 8, 1971 | 900.99 | 100.34 | 13.92 |
| July 7, 1971 | 895.88 | 100.04 | 14.52 |
| July 6, 1971 | 892.30 | 99.76 | 10.44 |
| July 2, 1971 | 890.19 | 99.78 | 9.96 |
| July 1, 1971 | 893.03 | 99.78 | 13.09 |
| June 30, 1971 | 891.14 | 99.70 | 15.41 |
| June 29, 1971 | 882.30 | 98.82 | 14.46 |
| June 28, 1971 | 873.10 | 97.74 | 9.81 |
| June 25, 1971 | 876.68 | 97.99 | 10.58 |