News stories from Friday April 25, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Voting 53 to 14, the Senate passed a $6.1 billion appropriations bill that would either create or continue a million public service jobs to both stimulate the economy and keep workers off unemployment insurance and welfare. The bill will go to a conference with the House. [New York Times]
- In a speech at the 150th convocation dinner of the Yale University Law School, President Ford said that violent crime "obsesses America" and called for mandatory jail terms for those convicted of violent crimes. He declared that "I am urging that virtually all of those convicted of a violent crime be sent to prison, and this should be done especially if a gun was involved or there was other substantial danger or injury to a person or persons." [New York Times]
- The medical license of Dr. Max Jacobson, a New York City physician who for years used powerful amphetamine stimulants to lift the moods of his patients, many of whom were rich and famous, was revoked by the State Board of Regents. The decision was unanimous. Dr. Jacobson, who is 75 years old, was found guilty of 48 counts of unprofessional conduct in 11 specifications and one count of fraud or deceit.
Officials of national and New York medical organizations said the revocation of Dr. Jacobson's license vividly illustrated the need for physicians to police themselves more effectively and for the profession to have broader disciplinary powers. They also criticized New York officials for taking nearly 2½ years to act on Dr. Jacobson's case.
[New York Times] - The United States rang up a large surplus of exports over imports in the January-March period, the first quarterly trade surplus in the last five quarters, the Commerce Department announced. A more than seasonal decline in oil imports and a general decline in imports of materials and industrial goods, a result of the recession, were largely responsible for a trade surplus calculated at $1.3 billion on a seasonally adjusted basis. [New York Times]
- President Tram Van Huong of South Vietnam called on the National Assembly today to decide whether Gen. Duong Van Minh should succeed him as President and negotiate with the Communists. A joint session of the Senate and the Lower House immediately convened to debate the question. The Viet Cong have implied that unless General Minh or someone else acceptable to them is named head of a new government they would destroy Saigon. President Huong told the National Assembly that he could not independently relinquish power because it would be unconstitutional. [New York Times]
- Every 18 minutes, one of the giant planes operating in the American airlift from South Vietnam lands on Guam in the Western Pacific with another load of refugees from Saigon, mostly South Vietnamese relatives of, or employees of Americans. They are the vanguard of the 132,000 South Vietnamese the government has authorized to be admitted to the United States. [New York Times]
- The Ford administration is concerned about the possible impact of the Indochina situation on Asia and hopes to bolster American relations with Japan, South Korea, the Philippines and other Asian nations in the coming weeks and months. High administration officials said that no formal reassessment of American policy toward Asia had been ordered, such as the current Middle East review, but that a number of key officials have already begun giving increased attention to ways of preventing a breakdown in the stability of the Asian area, for example, through reaffirming various defense commitments. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 811.80 (+8.14, +1.01%)
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 24, 1975 | 803.66 | 86.04 | 19.05 |
| April 23, 1975 | 802.49 | 86.12 | 20.04 |
| April 22, 1975 | 814.14 | 87.09 | 26.12 |
| April 21, 1975 | 815.86 | 87.23 | 23.96 |
| 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 |