News stories from Tuesday March 2, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- An allied spokesman declared that the Laos and Cambodia operations have eliminated the possibility of North Vietnam launching a spring offensive. North Vietnamese and South Vietnamese forces are building for a big battle in Laos. General Frederick Weyand feels that North Vietnam has involved many men and much equipment in Laos, and is taking heavy losses.
The Nixon administration has stressed the positive aspects of the Laos operation, but when Secretary of State Rogers briefed Congress about the situation in Laos he was defensive and acknowledged difficulties in Laos.
[CBS] - Senator Stuart Symington charged that foreign affairs adviser Henry Kissinger is the most powerful man in the administration besides the President, yet he is not accountable to anyone. President Nixon insists that Secretary of State Rogers is his chief foreign affairs adviser. [CBS]
- The architect of the Capitol building said that yesterday's bombing didn't disturb its structural integrity. Security for the Capitol has been increased as the Senate opens hearings on bombings. The Senate Sergeant at Arms says that 25,000 people a day pass through the Capitol. The Associated Press and the New York Post both received letters from the Weather Underground terrorist group claiming credit for the bombing. [CBS]
- President Nixon asked Congress for a half billion dollars for revenue sharing to improve state law enforcement, courts and prisons. [CBS]
- A federal grand jury indicted United Mine Workers president Tony Boyle on charges of embezzlement, conspiracy and the use of union funds for illegal political contributions. UMW secretary-treasurer John Owens and political director James Kmetz were also indicted. [CBS]
- Unions and builders signed an agreement to cut construction industry costs and create more jobs. [CBS]
- A Senate committee heard more testimony on the extent of military spying on civilians. Assistant Defense Secretary Robert Froehlke admitted that the Pentagon collected information on 25 million people, but claimed that many of those files have been destroyed. Froehkle said that agents posed as photographers during the 1968 Democratic National Convention to interview and film demonstrators, and he admitted the existence of a file on Illinois Senator Adlai Stevenson III. [CBS]
- The Senate again failed to end the filibuster which is blocking legislation for filibuster reform. [CBS]
- A Senate committee reopened hearings on the confirmation of William Casey as head of the Securities and Exchange Commission due to questions raised concerning past lawsuits. [CBS]
- Premier Per Borten of Norway has resigned in the wake of the leak of a confidential report regarding the possibility of Norway joining the European Common Market. [CBS]
- The Soviet Union gave quick permission for the emigration 30 Jews after a series of sit-ins at the Supreme Soviet building. [CBS]
- Britain publicly chided Israel for refusing to give up occupied territory as the price for a Mideast peace settlement. Israel Prime Minister Golda Meir met today with U.S. officials. [CBS]
- A department of Health, Education and Welfare examiner recommended that up to $3.5 million be cut off from the public schools in Wichita, Kansas, due to continuing racial segregation; the government accused Wichita of "gerrymandering" school districts. Appeals of the cutoff of funds could take five years to resolve. [CBS]
- Commerce Secretary Maurice Stans announced a ban on the killing of whales by any U.S. fisherman. The last U.S. whaling firm is already out of business, and the industry has been taken over by Russia and Japan. [CBS]
- Nineteen-year-old draftee C.J. Paterson was returned to the U.S. after hijacking a plane to Canada; Canada ruled him ineligible for asylum. [CBS]
- The Supreme Court ruled that a six-lane highway may not be built through a public park in Memphis, Tennessee. [CBS]
- The Supreme Court made a ruling concerning "30 days or $30" sentences. The Court ruled that defendants cannot be jailed if they are too poor to pay a fine, and also decreed that courts must allow divorce cases even if the parties involved are too poor to pay court costs.
Citizens' fears of legal complexities and court costs keep many from filing complaints, and these new decisions may partially rectify the situation. The overall solution to judicial problems will require additional money, judges, prosecutors, lawyers and quasi-judicial agencies to handle matters not involving victims.
[CBS]
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Stock Market Report
Dow Jones Industrial Average: 883.01 (+0.48, +0.05%)
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 1, 1971 | 882.53 | 97.00 | 13.02 |
| February 26, 1971 | 878.83 | 96.75 | 17.25 |
| February 25, 1971 | 881.98 | 96.92 | 16.20 |
| February 24, 1971 | 875.62 | 96.73 | 15.93 |
| February 23, 1971 | 870.00 | 96.09 | 15.08 |
| February 22, 1971 | 868.98 | 95.72 | 15.84 |
| February 19, 1971 | 878.56 | 96.74 | 17.86 |
| February 18, 1971 | 885.06 | 97.56 | 16.65 |
| February 17, 1971 | 887.87 | 98.20 | 18.72 |
| February 16, 1971 | 890.06 | 98.66 | 21.35 |