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Monday April 15, 1974
. . . where the 1970s live forever!

News stories from Monday April 15, 1974


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

  • The Federal Bureau of Investigation said that Patricia Hearst participated in a bank robbery in San Francisco this morning, but strongly indicated that she may have been acting under duress. Two bystanders were shot in the holdup. At least four of the nine persons who escaped with $10,960 were linked to the Symbionese Liberation Army, the underground terrorist group that kidnapped Miss Hearst 10 weeks ago. Eleven days ago, in a tape-recorded message to her parents, Miss Hearst said she had chosen to remain and join forces with the Symbionese group. [New York Times]
  • John Mitchell testified that while he was Attorney General he "willingly contacted" the chairman of a federal agency on behalf of a man that agency was investigating. He said, however, that this was not "improper." The agency was the Securities and Exchange Commission, the call was made to its then-chairman, William Casey, and it was made on behalf of Robert Vesco. [New York Times]
  • President Nixon has received more than $47,000 in unsolicited cash and pledges to help him pay his income taxes, the White House press office said. Mr. Nixon, although "heartened and moved in the past 10 days by an outpouring of public support" for his tax debt, decided to keep none of the contributions and pay "every penny himself," according to his spokesman. [New York Times]
  • Birth and fertility rates in the United States dropped to the lowest points in history last year, according to a report by the National Center for Health Statistics. It was the second consecutive year in which the rates were at record lows, suggesting a possible trend which, if it continues, means the United States would reach the stage of zero population growth in the first half of the 21st century. [New York Times]
  • The Cost of Living Council removed the last controls over food retailers and wholesalers, the largest segment of the economy that had still been subject to price and wage restraints. The decision permits the food distribution industry to charge whatever consumers are willing to pay. [New York Times]
  • Secretary of State Kissinger pledged "a major effort" by the United States to assist developing countries, but he also cautioned them against resorting "to the politics of pressures and threats." Making a broad statement of American economic policy before a special United Nations General Assembly meeting, he warned commodity producers against organizing to raise prices along the lines of the Organization of Petroleum Exporting countries. [New York Times]
  • Syria and Israel remain far apart in their proposals for separating their forces in the Golan Heights, but well-placed diplomats at the United Nations said that Mr. Kissinger believes he can narrow the gap on his forthcoming Middle East trip. [New York Times]
  • The army of Niger, one of the West African countries hardest hit by drought and famine, seized power and announced in a broadcast that it had acted because of the nation's "catastrophic situation." The radio in Niamey, Niger's capital, announced the overthrow of the government of President Hamani Diori, who had ruled the country since it became independent from France in 1960. There was no indication whether power had been seized peacefully. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 843.79 (-1.02, -0.12%)
S&P Composite: 92.05 (-0.07, -0.08%)
Arms Index: 1.05

IssuesVolume*
Advances6033.66
Declines7544.79
Unchanged4151.68
Total Volume10.13
* 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
DateDJIAS&PVolume*
April 11, 1974844.8192.129.97
April 10, 1974843.7192.4011.16
April 9, 1974846.8492.6111.33
April 8, 1974839.9692.0310.74
April 5, 1974847.5493.0111.67
April 4, 1974858.8994.3311.65
April 3, 1974858.0394.3311.50
April 2, 1974846.6193.3512.01
April 1, 1974843.4893.2511.47
March 29, 1974846.6893.9812.15


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