News stories from Wednesday March 7, 1973

Summaries of the stories the major media outlets considered to be of particular importance on this date:

Eighty former American POWs arrived in the United States today. General Daniel James greeted former prisoner Col. Frederick Crow enthusiastically as Crow got off the plane at Andrews AFB in Maryland. Crow said that the prisoners had faith in God, the President and the American people. In an exchange of Communist and South Vietnamese POWs, South Vietnam has agreed to release about 6,000 Communist POWs. [CBS] Fewer than 8,000 American servicemen remain in Vietnam. [CBS] A climax appears to be nearing in the occupation of Wounded Knee, South Dakota. Negotiations between government officials and the Indians have broken off; the Indians were told to leave the area by tomorrow night. American Indian Movement leader Carter Camp says that the Indians anticipated trouble from the beginning, and he vowed that they will stay in Wounded Knee until wrongs are righted or the government takes them by force. AIM leader Russell Means says that the Indians are in Wounded Knee in order to obtain better conditions for Indian children yet unborn.Indians in Lumberton, North Carolina, went on a window-smashing rampage; eight were arrested. [CBS] Because of air collisions over France due to the strike by French air controllers, many airlines have canceled flights to and over France. [CBS] The Consumers Union reported that microwave ovens are unsafe because they leak radiation. A spokesman said that any product which emits radiation can't be said to be safe. Association of Home Appliance Manufacturers spokesman Guenther Baumgart stated that the potential for injury from microwave ovens is very low. The Bureau of Radiological Health said that the production of microwave ovens with no leakage is not practical. [CBS] AFL-CIO president George Meany accused giant American corporations with overseas operations of crawling through tax loopholes at home and speculating against the dollar abroad. Meany suggested several tax reforms aimed at corporations. [CBS] A Senate committee heard testimony that the Post Office has been more concerned with cutting costs than improving services, and that the special delivery system is a disgrace. The testimony came from Postmaster General E.T. Klassen. [CBS] Acting FBI director L. Patrick Gray testified at his Senate confirmation hearing about irregularities in the FBI investigation of the Watergate bugging case. Gray also said that his earlier testimony about Martha Mitchell's involvement in the case was incorrect. [CBS] Funeral services were held today in Washington, DC for Cleo Noel and Curtis Moore, the American diplomats who were murdered by "Black September" terrorists in the Sudan. The men were then buried in Arlington National Cemetery near the grave of Robert Kennedy, who was assassinated by Sirhan Sirhan (whom the terrorists demanded be freed). Secretary of State Rogers and other officials and diplomats attended the services. [CBS] Left-wing author Jessica Mitford suggested to a Senate committee that stockholders in drug companies could be used to test new drugs. [CBS] New York City Mayor John Lindsay announced that he will not run for re-election this year. [CBS] Pulitzer prize winner Clark Mollenhoff stated that he sharply opposes legislation to shield reporters from having to disclose confidential sources. [CBS] The Florida legislature will soon vote on the Equal Rights Amendment, which would outlaw sex discrimination. ERA advocate Penny Morgan says that the amendment is for minorities as well as women. It must pass in 10 more states in order to become law, but has a good chance of passage in only one. [CBS]

Stock Market Report

Dow Jones Industrial Average: 979.98 (+0.98, +0.10%)
S&P Composite: 114.45 (+0.35, +0.31%)
Arms Index: 1.06

	Issues	Volume*
Advances	824	9.94
Declines	563	7.20
Unchanged	370	2.17
Total Volume		19.31

* in millions of shares

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*
March 6, 1973	979.00	114.10	17.71
March 5, 1973	966.89	112.68	13.72
March 2, 1973	961.32	112.28	17.71
March 1, 1973	949.65	111.05	18.21
February 28, 1973	955.07	111.68	17.95
February 27, 1973	947.92	110.90	16.13
February 26, 1973	953.79	112.19	15.86
February 23, 1973	959.89	113.16	15.45
February 22, 1973	971.78	114.44	14.57
February 21, 1973	974.34	114.69	14.88