News stories from Monday April 21, 1975

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

Denouncing the United States as untrustworthy, South Vietnam's President, Nguyen Van Thieu, has resigned after 10 years in office. He appointed his Vice President, Tran Van Huong, to replace him and said President Huong would immediately press for an end to the war and a start of peace negotiations. In an impassioned address to his nation, Mr. Thieu defended his character and his regime's accomplishments. [New York Times] Fighting in South Vietnam virtually ceased after President Thieu's resignation, highly informed military sources reported today. The Viet Cong radio, while denouncing the new President, Tran Van Huong, spoke mostly in terms of carrying out the Paris peace accord rather than making military threats. [New York Times] Administration sources in Washington said that President Ford two or three weeks ago had ordered a "hands off" policy that neither supported nor abandoned President Nguyen Van Thieu. This instruction, one official said, must have been interpreted by high South Vietnamese officials as a change in American policy, and caused them to put pressure on Mr. Thieu to resign as the only hope of getting congressional approval of more military aid. [New York Times] Defense Department officials in Washington have concluded that the situation in South Vietnam is deteriorating so rapidly that the United States must plan for an immediate evacuation of all Americans and their dependents from Saigon. The White House, State Department and the Pentagon were reported urgently weighing the evacuation of 2,800 Americans and 1,200 Vietnamese dependents. Officials reported that Secretary of State Kissinger was resisting proposals for a complete evacuation of all Americans and their dependents. [New York Times] In the first major confrontation between employment and the environment in the present session of Congress, the House of Representatives has voted for jobs. The issue involved would change federal environmental protection laws in order to end legal snarls that have halted 130 highway construction jobs in New York, Connecticut and Vermont amounting to $2.3 billion and providing jobs for some 150,000 workers. One of the major projects involved here is the West Side Highway reconstruction. Another is an approach to Kennedy International Airport. [New York Times] This week has been designated Law and Order Week on the Pine Ridge Oglala Sioux Reservation in South Dakota. The irony of the designation is evident as Federal Bureau of Investigation statistics show that six persons have been killed on the reservation since the first of the year and 67 other persons have been assaulted, some with tomahawks and hammers. This gives Pine Ridge a per-capita homicide rate six times greater than that of Chicago. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 815.86 (+7.43, +0.92%)
S&P Composite: 87.23 (+0.93, +1.08%)
Arms Index: 0.49

	Issues	Volume*
Advances	991	17.68
Declines	463	4.05
Unchanged	376	2.23
Total Volume		23.96

* 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*
April 18, 1975	808.43	86.30	22.61
April 17, 1975	819.46	87.25	32.65
April 16, 1975	815.71	86.60	22.97
April 15, 1975	815.08	86.30	29.62
April 14, 1975	806.95	85.60	26.80
April 11, 1975	789.50	84.18	20.16
April 10, 1975	781.29	83.77	24.99
April 9, 1975	767.99	82.84	18.12
April 8, 1975	749.22	80.99	14.32
April 7, 1975	742.88	80.35	13.86