News stories from Monday April 9, 1973

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

Two more International Control Commission helicopters were fired on. Over the weekend one helicopter was shot down and all nine aboard were killed. The White House views the situation as extremely serious. ICC spokesman General Duncan McAlpine said that the helicopter was clearly marked with the International Control Commission sign. A second helicopter was also fired upon but its crew is safe. The helicopter may have been shot down to keep the ICC from checking on Communist infiltration into South Vietnam. [CBS] Government forces in Cambodia regained control of Highway 4, one of the main supply roads to Phnom Penh. Ships are carrying supplies to Phnom Penh via the Mekong River. Five ships, escorted by American planes and gunboats, are bringing supplies into the capital. But other ships en route to the capital turned back at the border between Cambodia and South Vietnam. Communist forces destroyed one freighter and frightened off the rest.Communists in Cambodia are violating the agreement made with Henry Kissinger in Paris. Kissinger had a secret understanding with North Vietnam regarding cease-fires in Laos and Cambodia. Those cease-fires were to go into effect two weeks after the South Vietnam truce was signed. U.S. officials are angry at the lack of peace in Indochina. [CBS] Arab terrorists bombed the Israeli ambassador's residence in Nicosia, Cyprus, and attacked an Israeli passenger plane at the airport. Bombs damaged the ambassador's residence but nobody was injured; the terrorists were arrested. Another Arab group opened fire on an Israeli plane but nobody was aboard at the time. The Arabs may have intended to hijack or bomb the plane. At least nine persons were involved in the two attacks. [CBS] The Mississippi River continued to flood. At Vicksburg, Mississippi, the river was at its highest level in 30 years. [CBS] The Midwest is suffering a severe snow storm. A blizzard has blocked roads in Iowa. All schools are closed. High winds make snow clearing difficult. In Chicago, swollen Lake Michigan threatens to flood the area. [CBS] Former Attorney General John Mitchell denied the charge that he ordered the raids on Democratic party headquarters. President Nixon's re-election committee said it is untrue that campaign attorney Kenneth Parkinson gave the Watergate defendants money to keep them quiet. [CBS] Pentagon Papers trial defendant Anthony Russo took the stand in his own defense today. He said that Viet Cong POWs helped change him into a dove, and that two days of talks with a Communist prisoner in 1965 taught him what people in Vietnamese villages really thought. [CBS] The meat boycott ended. Stores have begun posting signs listing meat price ceilings in compliance with government regulations. The Internal Revenue Service has the duty of seeing that the price ceilings are observed. [CBS] House committees began hearings on legislation regarding strip mining. West Virginia congressman Ken Hechler says that the abolition of strip mining is the only answer. More than a million acres of the Appalachians have been strip mined, a process which ruins the land. Mining companies now reclaim the mined land, but environmentalists say it's impossible to reclaim strip mined areas. Coal companies warn that the energy crisis will get much worse if strip mining is not allowed. Strip miners want to begin looking for coal in the West next. [CBS] The government corporation which insures American firms against political risks in overseas investments rejected ITT's claim for $92.5 million which it lost by expropriation in Chile. [CBS] The recent Organization of American States meeting reminded the U.S. of the hostility felt towards it by Latin America. The United States should improve relations with our neighbors to the south. Latin America is becoming strongly nationalistic and the U.S. position in the world is changing. South America possesses an immense potential for social revolution. [CBS] The American auto industry produced 9 million cars last year; 12 million autos were recalled during the year. [CBS] Army discharge papers are important for job-seeking Vietnam veterans. 188,000 Vietnam vets got "undesirable" discharges from the armed services. Ralph Nader lawyer Ray Bonner says that a bad conduct discharge can only be given after a court-martial. But undesirable discharges are given more freely and with less fairness. An ACLU group is helping some veterans get their papers reviewed, but the process is slow and the review board usually refuses to change the discharge. 93% of men with undesirable discharges get no veterans benefits.Veterans were previously given bad discharges for drug use; now the services give a general discharge for this and are willing to upgrade old undesirable ones. Ralph Nader's group is suing to force the Pentagon to notify all veterans of the change. But men with general discharges also suffer when seeking jobs. There are almost 400,000 general and bad discharges among Vietnam vets. [CBS]

Stock Market Report

Dow Jones Industrial Average: 947.55 (+16.48, +1.77%)
S&P Composite: 110.86 (+1.58, +1.45%)
Arms Index: 0.63

	Issues	Volume*
Advances	995	9.12
Declines	458	2.64
Unchanged	339	1.98
Total Volume		13.74

* 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*
April 6, 1973	931.07	109.28	13.89
April 5, 1973	923.46	108.52	12.75
April 4, 1973	922.71	108.77	11.89
April 3, 1973	927.75	109.24	12.91
April 2, 1973	936.18	110.18	10.64
March 30, 1973	951.01	111.52	13.74
March 29, 1973	959.14	112.71	16.05
March 28, 1973	948.00	111.62	15.85
March 27, 1973	944.91	111.56	17.50
March 26, 1973	927.90	109.84	14.98