News stories from Wednesday March 5, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Cambodian insurgents brought captured American-made howitzers to bear on the airport that is Phnom Penh's last remaining link with the outside world, supplementing the scatter-shot rockets with more accurate fire. Although the airport was not shut, the new weaponry raised serious concern at the United States Embassy and the Cambodian command. [New York Times]
- Secretary of Defense James Schlesinger said that the United States would have to reassess its military airlift into Cambodia if the Phnom Penh government could not protect the airport adequately. Officials said privately that if Cambodian troops could not or would not force insurgents out of artillery and rocket range of the airport, there was little hope that the government could survive through United States military aid. The helicopter carrier Okinawa was stationed off the coast to evacuate Americans if necessary. [New York Times]
- President Ford asked for expenditure of more than $2 billion above his budget for additional summer jobs for youths and to extend public service jobs for six months. His move fell short of demands of many in Congress for emergency employment programs that would have a greater effect on high unemployment. [New York Times]
- Representative Bella Abzug expressed outrage that the Central Intelligence Agency has kept a dossier on her at least since 1953 when as a lawyer she represented a client before the House Committee on Un-American Activities. She said that it was clearly illegal to open letters of a lawyer representing a client. William Colby, director of the agency, acknowledged at a House subcommittee hearing that the C.I.A. had special files on her and three other unnamed present or former Congress members as part of its operations against Vietnam war dissidents. [New York Times]
- The Senate decided the ultimate outcome of debate on the filibuster rule by an overwhelming 73 to 21 vote on a key procedural issue. When the debate ends, opponents cannot prevent adoption of a new rule weakening the filibuster weapon. [New York Times]
- Arab commandos stormed ashore and seized a Tel Aviv hotel, where they held at least 40 hostages until Israeli soldiers attacked. As the soldiers fought their way into the hotel, an explosion destroyed one wing of the building. At least six Arabs and some of the hostages were reported killed. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 752.82 (-4.92, -0.65%)
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 4, 1975 | 757.74 | 83.58 | 34.10 |
| March 3, 1975 | 753.13 | 83.03 | 24.10 |
| February 28, 1975 | 739.05 | 81.59 | 17.56 |
| February 27, 1975 | 731.15 | 80.77 | 16.43 |
| February 26, 1975 | 728.10 | 80.37 | 18.79 |
| February 25, 1975 | 719.18 | 79.53 | 20.91 |
| February 24, 1975 | 736.94 | 81.44 | 19.15 |
| February 21, 1975 | 749.77 | 82.62 | 24.44 |
| February 20, 1975 | 745.38 | 82.21 | 22.26 |
| February 19, 1975 | 736.39 | 81.44 | 22.19 |