News stories from Tuesday April 10, 1973

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

Israeli commandos killed three Arab guerrilla leaders in Beirut, including Kamal Nasser, spokesman for the Palestinian Liberation Organization. The Lebanese government, headed by Prime Minister Saeb Salam, offered its resignation. Other Israeli commandos attacked a Palestinian refugee camp near Beirut and the nearby offices of Palestinian guerrillas. Over 40 Palestinians are believed to have been killed in the raids. Israeli Chief of Staff General David Elazar feels that today's operation was a serious blow to the Arab guerrilla organization. Israel reported that its casualties in the raids were two dead and two wounded. [CBS] A British charter plane crashed in Switzerland, killing at least 96 persons. Most of the passengers were young women, some with children, on an excursion to the Basel trade fair from England. Rescue efforts are being hampered by heavy fog and a snowstorm. [CBS] The U.S. has begun airlifting fuel into Phnom Penh, Cambodia, as the city remains besieged by Communist forces. North Vietnam says it will not accept a truce in Cambodia until Prime Minister Lon Nol is ousted. [CBS] President Thieu of South Vietnam is visiting Bonn, West Germany. Demonstrators protested against Thieu's visit in many West German cities, and nobody in the Brandt administration will talk with him. President Gustav Heinemann urged Thieu to free South Vietnamese political prisoners. [CBS] House Democrats failed to override President Nixon's veto of the rural water and sewer bill. Republican representative Gerald Ford predicted that Democrats will be unable to override any of the President's vetoes. Speaker Carl Albert was upset by today's defeat. [CBS] Two Senate committees are holding hearings on the doctrine of executive privilege. [CBS] President Nixon asked Congress for a free hand in regulating American trade policy and related matters; House Ways and Means Committee chairman Wilbur Mills pledged top priority attention to the matter. This means that there will be no tax reform this session of Congress, as the agenda would be too crowded to tackle both issues. [CBS] The Nixon administration proposed raising the minimum wage from $1.60 an hour to $2.30 in stages over the next three years. AFL-CIO president George Meany is unhappy with the plan, and accused Labor Secretary Brennan of betraying the unions. [CBS] The defendants took the stand in the Pentagon Papers trial in Los Angeles. Prosecutor David Nissen asked Anthony Russo if he copied the Pentagon Papers. Russo replied that it was his duty as an American citizen to do so; Russo says that he feels the jury is on his side. Defendant Daniel Ellsberg began his testimony today. [CBS] Medical specialist Kenneth Riland, who went with President Nixon to China, has been indicted for tax evasion. [CBS] The Midwest is being plagued with blizzards and floods. At Estral Beach, Michigan, the waters of Lake Erie, blown by high winds, have destroyed much shoreline property. 20,000 people have been evacuated from the area.Ranchers have lost thousands of cattle in Colorado; 90% of spring calves are dead because of the continuing snows. Rancher William Doherty reported that he has lost one-third of his herd, and the remaining cattle are weak with pneumonia. Doherty said that he has never seen such a severe winter. [CBS] The Veterans Administration has a generation gap because of so many young veterans. Most veterans are soldiers from wars other than Vietnam, but the V.A. is making a special effort to reach Vietnam vets. An experimental veterans service center in East St. Louis, Illinois, employs Vietnam veterans in two of its offices in order to communicate more effectively with the younger generation of veterans. The agency goes out and looks for Vietnam veterans and helps them find jobs and deal with drug problems. [CBS]

Stock Market Report

Dow Jones Industrial Average: 960.49 (+12.94, +1.37%)
S&P Composite: 112.21 (+1.35, +1.22%)
Arms Index: 0.72

	Issues	Volume*
Advances	1,009	11.15
Declines	471	3.77
Unchanged	321	1.85
Total Volume		16.77

* 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 9, 1973	947.55	110.86	13.74
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