News stories from Friday April 13, 1973

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

Arabs are threatening severe retaliation against Israel in the wake of the Israeli commando raid into Lebanon. Israel has threatened retaliatory raids if the Arabs attack. Al Fatah leader Yasser Arafat claims to have evidence that the United States was involved in the raid on Lebanon, and he charged the former U.S. ambassador to Lebanon with working with the Israelis against Palestinians. The U.S. denied Arafat's claim. The U.S. says it has proof that Arafat knew of and sanctioned the murder of two American diplomats in Khartoum last month. The U.S. wants Lebanon either to expel or contain Arab terrorists, and wants Arab states to stop aiding the extremists.Israeli Defense Minister Moshe Dayan stated that in the future Israel may expand its war on Arab guerrillas by striking directly at any Arab country that harbors terrorists. The Soviet Union said that it will support Arab states against the Israelis at the United Nations. Lebanese Premier Saeb Salam offered to resign in the wake of the Israeli raid. Today his resignation was accepted. [CBS] The Cunard line's Queen Elizabeth II is sailing for Israel with a ship full of European and American Jews to celebrate the 25th anniversary of Israel. The crew has been given hazardous duty pay. Cunard denied that some of the crew refused to sail for fear of terrorist attack. [CBS] The U.S. announced that it will continue bombing in Cambodia until all North Vietnamese forces are out of that country. [CBS] A Canadian spokesman for the International Control Commission reported that North Vietnamese forces are infiltrating South Vietnam. Michael Gauvin was also critical of Poland and Hungary for blocking the ICC's inspection of Communist missile sites in South Vietnam. [CBS] Antiwar activist Jane Fonda says that American POWs are lying when they claim they were tortured by North Vietnam. Lt. Commander David Hoffman has stated that he was tortured and then forced into meeting with Jane Fonda's group. Fonda asserted that other prisoners who met with her said they weren't tortured and she feels they should confront Hoffman. [CBS] Former POW Sgt. Thomas Davis returned home to Alabama, where Governor George Wallace greeted him and wished him well in the future. Davis is black. [CBS] The White House and the Senate Watergate Committee may be nearing an agreement on letting White House aides testify to the committee. Press secretary Ron Ziegler reported that talks are ongoing. Harold Lipset, a staff investigator for the Senate committee, resigned after it was revealed that he was once convicted for wiretapping. [CBS] West German Chancellor Willy Brandt was re-elected as chairman of the Social Democratic party. West Germany and Czechoslovakia announced that they are moving toward a treaty of friendship to erase the 1938 Munich Pact.But other traces of the Hitler era remain. Many former Nazi war criminals live comfortable lives in West Germany. Some even draw government pensions. Some former Hitler aides have been tracked down, but remain free. Even the Nazis who have been brought to trial in recent years have escaped with sentences of a few weeks in jail because of so-called ill health. Former Nuremburg prosecutor Robert Kempner said that many former Nazis develop "illnesses" every time their trials come up. [CBS] The city of Venice received $500 million from the Italian government for a program to help the city stop its gradual sinking into the sea. [CBS] The Mississippi River continues to flood but its waters will soon recede.In June, 1972, Hurricane Agnes hit Wilkes-Barre, Pa. Damage was severe and many people lost their homes. Despite government aid, 7,000 families still remain in temporary housing; most live in trailers. People are frustrated by having to deal with government bureaucracy. Aid for victims is available, but there is general confusion regarding how to obtain it. Flood victim Betty Greenberg told a meeting of other victims that the group must fight city hall for what it wants. Pennsylvania Secretary of Community Affairs William Wilcox said that he favors a federal program to directly reimburse disaster victims. [CBS] The Navy reported that human error is to blame for the California plane crash involving a Navy plane and a NASA jet. NASA said that the collision will seriously affect some space programs. [CBS] President Nixon released $500 million for schools which he had previously said he would not spend. The aid is designated for schools in areas with high concentrations of federal employees, such as military bases. [CBS] Secretary of State William Rogers is being sent on a tour of Latin America next month. [CBS] In his nightly commentary, Eric Sevareid noted that presidential assistant John Ehrlichman recently stated that he accepted the concept of one-man rule because the President is the only official elected by all the people. This week the Attorney General declared that "executive privilege" is unlimited. President Nixon is dismantling programs, impounding funds, and bombing in Cambodia. The new criminal code proposed by the President would make it a federal crime for any government official to give any classified information regarding national security to an unauthorized person, regardless of whether it would actually damage national security. Sevareid accused President Nixon of seeking "dictatorial" powers. [CBS]

Stock Market Report

Dow Jones Industrial Average: 959.36 (-4.67, -0.48%)
S&P Composite: 112.08 (-0.50, -0.44%)
Arms Index: 1.21

	Issues	Volume*
Advances	582	4.63
Declines	788	7.60
Unchanged	387	2.16
Total Volume		14.39

* 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 12, 1973	964.03	112.58	16.36
April 11, 1973	967.41	112.68	14.89
April 10, 1973	960.49	112.21	16.77
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