News stories from Friday March 16, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Thirty-two American POWs were released by the Viet Cong in North Vietnam. Maj. Floyd Thompson, the longest-held POW, was among those released, along with Sgt. Ronald Ridgeway, long believed to have been killed in action. Col. Theodore Guy says he is sure that the bombing of North Vietnam hastened an end to the war. But Michael Branch, John Young, Floyd Kushner and other antiwar POWs may be court-martialed.
Tapes exist of anti-American statements being made by some prisoners. Defense Secretary Elliot Richardson said that no decision has yet been made on what to do about antiwar POWs. Former POW Capt. Lynn Guenther said that his antiwar statements were the result of "bewilderment and confusion."
[CBS] - North Vietnamese newspaper editor Hoang Tung said that all American POWs have now been accounted for. Tung stated that U.S. bombing of North Vietnam did much damage and therefore the U.S. has an obligation to rebuild North Vietnam. [CBS]
- The U.S. and North Vietnam traded warnings against shipping military supplies into South Vietnam. North Vietnamese tanks and other equipment sent down the Ho Chi Minh trail are reportedly now in South Vietnam. [CBS]
- Consumers are organizing a beef boycott to protest high prices. Consumer advocate Betty Furness says that now is the time to boycott meat. Women are forming groups to organize the boycott, which is to begin the first week in April. President Nixon stated his belief that a boycott will be ineffective. White House consumer adviser Virginia Knauer suggested selective buying and noted that it will take time for prices to decrease. [CBS]
- Industrial production was up 0.8% in February. [CBS]
- The U.S. and 13 other nations have reached an agreement on steps to end the international monetary crisis. Treasury Secretary Shultz stated that the U.S. is prepared to intervene to support the dollar. Other nations agreed to support their own currencies when necessary. One economist said that today's action will force up interest rates and prices in the United States; others disagree. [CBS]
- The administration sent to Congress seven bills aimed at providing more self-determination for Indian tribes. Indians would be allowed to run some programs of the Bureau of Indian Affairs. Similar bills were rejected by Congress previously. Undersecretary of the Interior John Whitaker said that nothing productive can come from the Wounded Knee incident, but earlier passage of Indian bills by Congress might have prevented the occupation of Wounded Knee. Whitaker stated that the Interior Department will talk to tribal chief Richard Wilson but not to the militants, unless the tribe itself so desires. [CBS]
- Urban League leader Vernon Jordan attacked President Nixon's cuts in anti-poverty programs, but Rep. Edith Green charged that much anti-poverty and education money is lost as the result of corruption. The U.S. commissioner of education reported that the FBI is investigating some education contracts. [CBS]
- President Nixon withdrew L. Patrick Gray's invitation to let Congress see the FBI files of its Watergate investigation, but Attorney General Kleindienst stated that the files will be made available to key figures in the Senate's investigation of the Watergate bugging. Those key figures include Senators Sam Ervin and Howard Baker. [CBS]
- The Transportation Department wants to drop the Chicago-Miami and New York City and Washington, DC to St. Louis and Kansas City railroad routes, according to a departmental report on Amtrak. The report states that Amtrak is making progress. [CBS]
- Tornadoes and rains hit southern states, causing flooding. Greenwood, Mississippi, was among the hardest hit. [CBS]
- Bermuda Governor Sir Richard Sharples and aide Hugh Sayers were buried today; both were assassinated last week. [CBS]
- Sylvia Sullivan, the wife of Ed Sullivan, died today of heart disease. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 963.05 (-6.77, -0.70%)
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 15, 1973 | 969.82 | 114.12 | 14.45 |
| March 14, 1973 | 978.85 | 114.98 | 14.46 |
| March 13, 1973 | 976.07 | 114.48 | 14.21 |
| March 12, 1973 | 969.75 | 113.86 | 12.81 |
| March 9, 1973 | 972.23 | 113.79 | 14.07 |
| March 8, 1973 | 976.44 | 114.23 | 15.10 |
| March 7, 1973 | 979.98 | 114.45 | 19.31 |
| 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 |