News stories from Thursday March 13, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Western and Vietnamese sources said today that North Vietnamese troops had captured almost the entire city of Ban Me Thuot in the Central Highlands of South Vietnam and that South Vietnamese troops were gathering north of the city and were preparing to retake it. [New York Times]
- In an exchange of letters between North Vietnam's Foreign Minister and Senator Edward Kennedy, Hanoi has indicated publicly for the first time that it has information about Americans believed to be missing in action in Southeast Asia. Foreign Minister Nguyen Duy Trinh made it clear that Hanoi will not release this information until the United States forces President Nguyen Van Thieu of South Vietnam out of office and cuts off military aid to Saigon. [New York Times]
- The Senate Finance Committee added a new provision to the antirecession tax-cut bill that would have the effect of cutting as much as $2,000 from the price of houses bought between April 1 and the end of the year. It is intended to stimulate the extremely depressed housing market and would apply to the purchase of a house or apartment designated as the "principal residence" of the buyer. [New York Times]
- The new management of the Great Atlantic and Pacific Tea Company, the nation's largest supermarket chain, will close about 1,250 of its 3,500 stores within the next 12 months as well as warehouses and distribution centers serving those stores. The company is building 160 large new supermarkets. It described the stores it would close as "small and obsolete." [New York Times]
- The Internal Revenue Service has disallowed nearly $200,000 in income tax deductions claimed by Senator Hubert Humphrey for the gift of his vice-presidential papers to the Minnesota Historical Society. Mr. Humphrey's lawyer said that the objection was based on a regulation that prohibits such deductions for "gifts of a future interest" over which the donor keeps some control. Mr. Humphrey has stipulated that public access to his papers be restricted for 25 years. [New York Times]
- Administration-backed assistance to Cambodia received a double setback in Congress with the House Foreign Affairs Committee rejecting a proposed compromise and Senate Democrats voting overwhelmingly against additional military aid. [New York Times]
- After another meeting in Aswan with President Anwar Sadat of Egypt, Secretary of State Kissinger said he had received new ideas from Mr. Sadat that should elicit responses from Israel and advance the negotiations for an Egyptian-Israeli agreement on Sinai. [New York Times]
- Portugal's new Military Revolutionary Council decreed the nationalization of almost all the country's banks, excepting foreign ones, savings institutions and agricultural credit institutions. The leftist military regime had crushed what it said was a rightist plot Tuesday. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 762.98 (-0.71, -0.09%)
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 12, 1975 | 763.69 | 83.59 | 21.56 |
| March 11, 1975 | 770.89 | 84.36 | 31.28 |
| 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 |