News stories from Tuesday March 11, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A surprise vote of 4 to 3 in a Senate Foreign Relations subcommittee approved an administration compromise to give Cambodia an additional $125 million in military aid. This action, and to a lesser extent a 3-3 tie vote on a similar measure in a House Foreign Affairs subcommittee, gave at least a temporary reprieve in the administration's uphill struggle to aid the Lon Nol government. [New York Times]
- President Lon Nol asked Premier Long Boret to form a new cabinet in Cambodia and removed the commander of the armed forces. This was seen as a gesture to the Cambodian insurgents and to leaders of the American Congress who have demanded removal of the entire Lon Nol government, but the action was not expected to have a major impact on either group. [New York Times]
- Fighting picked up sharply across South Vietnam. Government reinforcements reached the provincial capital of Ban Me Thuot in the Central Highlands where North Vietnamese troops have a firm foothold in the southern section. Some thought the action there might be a feint with the real direction of the North Vietnamese drive not yet evident. [New York Times]
- The Securities and Exchange Commission charged the Gulf Oil Corporation with falsifying its reports to conceal a $10 million secret fund from which illegal political contributions were made between 1960 and 1974. The sum is by far the largest corporate political fund alleged to exist by any law enforcement agency since disclosures began as an outgrowth of the Nixon administration scandals. The S.E.C. said that Gulf had agreed to an order that will bar it from taking similar illegal action. The company will be required to produce details about the fund and to correct its previous false reports. [New York Times]
- Fossil hunters in Big Bend National Park in West Texas have discovered remains of an extinct winged reptile with an estimated wing span of 51 feet -- more than twice the span of the biggest previously known pterodactyl and the largest known creature ever to have flown. It flourished more than 50 million years ago. [New York Times]
- Egypt has suggested that a new disengagement agreement with Israel in Sinai contain some of the language as the first such agreement in January, 1974, according to Egyptian officials in Aswan. That one included a formal cease-fire observance pledge and a promise to refrain from military or paramilitary action. The Egyptians have also suggested that the accord extend to naval units operating in the Mediterranean and Red Sea. [New York Times]
- Two planes of Portugal's Air Force attacked a Lisbon artillery barracks in what officers called an attempted coup against the left-wing military government. Loyal officers said the government remained in complete control. The chief of security forces hinted that he believed the United States was involved. Gen. Antonio de Spinola, who led the coup against the dictatorship last April but was ousted as president in September, arrived in Spain and was detained by the authorities. [New York Times]
- The government chiefs of the nine Common Market countries reached agreement in Dublin on easier membership terms for Britain. After two difficult days of bargaining in the face of British threats of withdrawal, the others conceded to Prime Minister Wilson the lower budget payment to the Market he had sought. His cabinet is now expected to urge the people to vote "yes" in the coming referendum, but there is no certainty voters will do so. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 770.89 (-5.24, -0.68%)
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 10, 1975 | 776.13 | 84.95 | 25.89 |
| March 7, 1975 | 770.10 | 84.30 | 25.93 |
| March 6, 1975 | 761.81 | 83.69 | 21.78 |
| March 5, 1975 | 752.82 | 82.90 | 24.12 |
| 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 |