News stories from Friday February 16, 1973

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

A federal court ordered the Nixon administration to enforce the 1964 Civil Rights Act requirement for full school integration. Judge John Pratt said that the period of voluntary compliance is over for schools from the elementary level through college. Failure to integrate would mean a cutoff of federal aid. [CBS] Twenty more POWs are scheduled for release tomorrow night as a good will gesture following Henry Kissinger's visit to Hanoi; 60 more POWs arrived at Travis Air Force Base from the Philippines today. Lt. Commander Everett Alvarez, the longest-held prisoner, was among those 60 returning POWs. Alvarez said that POWs dreamed of this day for years, and he always kept his faith in God and the President and his country. In Florida, President Nixon spoke about the war to a crowd. He talked with a woman whose husband was killed in Vietnam, and told Navy men that they helped make peace possible. Nixon said that the statements of patriotism being made by prisoners of war such as Jeremiah Denton and others makes him proud of America.Former POW Capt. James Mulligan returned home to Virginia Beach; his wife was active in the antiwar movement. Mrs. Mulligan was interviewed and said that although now is the time for Americans to come together, an open discussion of issues is necessary in a free country. [CBS] Lt. William Calley's conviction was upheld by a military court of review. The court rejected Calley's claim that he was only obeying orders in the My Lai mass murder in 1968. The Army charged 25 men with My Lai offenses, tried six and convicted only Calley. More appeals will be made. [CBS] During the heavy bombing of North Vietnam last December, B-52 Capt. Michael Heck refused to fly further missions. Heck received a less than honorable discharge from the service today. He says that his refusal to fly combat missions over Vietnam was a matter of conscience, and he believes that because there's now a cease-fire in Vietnam, B-52's are bombing elsewhere in Indochina because they have nothing else to bomb. As for the POWs and their patriotic comments, Heck wants to hear what their reactions are to American policy after they've been free for a while. [CBS] An American helicopter was shot down over Vietnam while flying a Joint Military Commission mission. [CBS] President Nixon will soon nominate L. Patrick Gray to be the permanent director of the FBI. Gray has been acting director since the death of J. Edgar Hoover. [CBS] Canada announced that it will limit fuel exports. Commerce Secretary Dent appealed to American industries to conserve fuel. [CBS] Farmers are beginning to react to President Nixon's plan to phase out farm subsidies. Wheat farmers on the North Dakota plains fear that ending subsidies will force small farmers out of business. Farmers gathered today to protest farm cutbacks, declaring that President Nixon has betrayed them and not been honest with farmers. Edward Smith, president of the North Dakota Farmers Union, stated that Nixon farm policy will hurt the nation's economy.In the Mississippi delta, large cotton farms like that of W.W. Sullivan are not unusual. Sullivan feels that the ending of subsidies is a good thing if it is done over a period of years. But small farmers won't survive without subsidies, and many would have to find another job. [CBS] A new law lets taxpayers give $1.00 of their federal income taxes to help finance presidential elections. The idea is to free candidates from reliance on contributions from big vested interests. But the idea isn't working -- the IRS reports that only 4% of taxpayers so far have authorized the contribution on their tax forms. [CBS] The American dollar appeared to be stronger on international money markets today. In London, the dollar is becoming stable now that it has been devalued. [CBS] Armed security guards are now posted at all airport boarding gates in order to prevent hijackings. The cost of the guards will be covered by higher ticket prices. [CBS] Moscow researchers have created artificial caviar due to a shortage of sturgeon eggs that has been caused by pollution. [CBS]

Stock Market Report

Dow Jones Industrial Average: 979.23 (+6.10, +0.63%)
S&P Composite: 114.98 (+0.53, +0.46%)
Arms Index: 0.80

	Issues	Volume*
Advances	723	6.81
Declines	666	5.03
Unchanged	365	1.48
Total Volume		13.32

* 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*
February 15, 1973	973.13	114.45	13.94
February 14, 1973	979.91	115.10	16.52
February 13, 1973	996.76	116.78	25.32
February 12, 1973	991.57	116.06	16.13
February 9, 1973	979.46	114.68	19.26
February 8, 1973	967.19	113.16	18.44
February 7, 1973	968.32	113.66	17.96
February 6, 1973	979.91	114.45	15.72
February 5, 1973	978.40	114.23	14.58
February 2, 1973	980.81	114.35	17.47