News stories from Monday February 5, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- American prisoners of war may not be released until the end of this week rather than by Wednesday as originally indicated. The delay is due to the U.S. not supplying a troop withdrawal schedule yet. [CBS]
- North Vietnamese members of the Joint Military Commission have joined South Vietnamese and U.S. members at seven locations in South Vietnam. The military commission is to assist the International Control Commission and watch over the withdrawal of American troops from South Vietnam. No Viet Cong members are yet in place. [CBS]
- Viet Cong and South Vietnamese officials talked in Paris. The purpose of the talks, as Viet Cong representative Dinh Bai Thi explained it, is to set up consultations for a political settlement in Vietnam. Saigon's Nguyen Phuong Thiep says that higher level meetings will take place in South Vietnam. [CBS]
- An American naval team led by Rear Admiral Brian McCauley is in Haiphong, North Vietnam, to begin clearing U.S. mines from the harbor. [CBS]
- Col. William Nolde, the last U.S. casualty in Vietnam, was buried today at Arlington National Cemetery. After the funeral, the Nolde family visited with President Nixon at the White House. [CBS]
- President Nixon is withholding more funds that have been appropriated by Congress; the total being withheld is now $15 billion. The new freeze involves programs in defense, agriculture and transportation. An outgrowth of the impoundment is a move to make the Office Management and Budget leadership, including incumbents, subject to Senate confirmation.
Senator Hubert Humphrey described the administration's budget as being conceived in secrecy. Senator Sam Ervin wants to get at the impounding of appropriations by President Nixon. Senate Republican Whip Robert Griffin is leading the opposition, and he feels that Roy Ash and Fred Malek, who have already been sworn in, should not be subject to Senate confirmation. Fifteen Republicans including Barry Goldwater joined with Democrats in passing the bill to require the confirmations. A presidential veto is certain, but could be overridden.
[CBS] - Senator Sam Ervin will lead the Watergate investigation in the Senate. Ervin wants the Watergate committee to have wide powers, including subpoena power, and a half-million dollar budget. [CBS]
- The consensus of opinion among businessmen is that the voluntary economic controls of Phase III will be difficult to enforce. President Nixon is especially concerned with keeping food prices down. [CBS]
- President Salvador Allende of Chile wants sweeping governmental changes, including a new constitution and the replacement of the Senate and House with a so-called "People's Assembly." Allende faces a re-election bid next month. [CBS]
- A House committee opened hearings on legislation to protect reporters and their sources. Reporters constantly get information from sources who want to remain anonymous. Over the years, reporters have gone to jail to protect confidential sources. In 1959, television critic Marie Torre went to jail for 10 days for refusing to reveal her source for a story about Judy Garland. Torre says that those who are aware of wrongdoing in government must feel free to talk to reporters about it and be able to remain unknown to the public. The situation got worse during the Chicago convention in 1968; a flood of subpoenas followed but the media resisted. Then last summer the Supreme Court ruled 5-4 that reporters could be forced to give up notes, tapes or film by courts.
New York Times reporter Earl Caldwell refused to testify concerning articles he wrote about the Black Panthers. Caldwell said he was disappointed by the Supreme Court decision; he believes that its ruling makes effective journalism impossible. Reporter Peter Bridge says that he distrusts "guidelines" designed to limit the subpoenas of sources because those guidelines can be changed at the whim of the Attorney General. St. Paul Dispatch and Pioneer Press chief John Finnegan says that the question is whether the press will become the investigative arm of the government.
[CBS] - A court ordered the Greyhound Bus company to erase its ban on hiring people over the age of 40. [CBS]
- Twelve cars of the Penn Central railroad derailed near Downingtown, Pennsylvania. Toxic fumes from a damaged tank car forced 1,000 residents to leave their homes temporarily. [CBS]
- Police may be close to solving the murders of seven women in Boston, Massachusetts. They have a suspect in the brutal murders of seven young and attractive women in the Boston University area. Ruth Hamilton, a 22-year-old teacher, was smothered in her apartment with a pillow. Damaris Synge Gillispie, also 22, is the latest victim; she was found strangled. Three of the girls disappeared while hitchhiking. [CBS]
- Black and white students fought at two Florida high schools, one in Gulfport and one in Boca Raton; 18 people were injured. [CBS]
- A coalition of antiwar and draft resistance organizations announced that they will fight for amnesty for Vietnam war draft dodgers. [CBS]
- The new law requiring security guards at all airport boarding gates will not go into effect until February 15. It was scheduled to go into effect tonight, but many airports say they need more time. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 978.40 (-2.41, -0.25%)
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* |
| February 2, 1973 | 980.81 | 114.35 | 17.47 |
| February 1, 1973 | 985.78 | 114.76 | 20.67 |
| January 31, 1973 | 999.02 | 116.03 | 14.87 |
| January 30, 1973 | 992.93 | 115.83 | 15.27 |
| January 29, 1973 | 996.46 | 116.01 | 14.68 |
| January 26, 1973 | 1003.54 | 116.45 | 21.13 |
| January 24, 1973 | 1004.59 | 116.73 | 20.87 |
| January 23, 1973 | 1018.66 | 118.22 | 19.06 |
| January 22, 1973 | 1018.81 | 118.21 | 15.57 |
| January 19, 1973 | 1026.19 | 118.78 | 17.02 |