News stories from Monday April 5, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Howard Hughes, the billionaire recluse, died at the age of 70. He was on his way from Acapulco, Mexico, to the Methodist Hospital in Houston for treatment. A physician who accompanied him in a chartered jet told hospital officials that Mr. Hughes died at 1:27 P.M. as the plane was over south Texas. [New York Times]
- James Callaghan, Britain's Foreign Secretary, became the new Prime Minister when the Labor members of the House of Commons gave him a comfortable margin as party leader in the third round of balloting that began March 16 when Harold Wilson unexpectedly announced his resignation. Mr. Callaghan received 176 votes. His closest rival, Michael Foot, the Employment Secretary and chairman of the party's left wing, received 137. They were the only candidates who survived the earlier rounds. [New York Times]
- Senator Henry Jackson, Representative Morris Udall and Jimmy Carter, the three major candidates for the Democratic presidential nomination wound up their drives for the New York primary today with diverse campaigning that reflected their political priorities and strategies. [New York Times]
- The Supreme Court, without comment or explanation, refused to review the court-martial conviction of former Army Lieut. William Calley for the murder of 22 civilians in My Lai, South Vietnam, in 1968. Mr. Calley, who has been free on bail pending appeal since late 1974, after serving a little more than three years of what was originally a life sentence, will not be returned to confinement. [New York Times]
- The Supreme Court ruled, 6 to 2, that police departments had the right to order police officers to wear their hair short and not to wear beards. The Court reversed a decision by a United States Court of Appeals in New York that said policemen had the constitutional right to wear their hair any way they wished and to have beards. The case involved the Suffolk County Police Department and the Suffolk Patrolmen's Benevolent Association. [New York Times]
- The prospect of finding oil and gas under offshore sites in the Atlantic Ocean is "very encouraging" according to the first reports of an exploratory well sunk three miles deep by a consortium of petroleum companies off the New Jersey coast. New Jersey officials confirmed that core samples obtained in test drilling suggest that there were large oil and natural gas deposits. [New York Times]
- Violent demonstrations, apparently in support of former Prime Minister Chou En-lai and his associates, were staged through the day in Peking's Tien An Men Square, and few attempts were made to stop them. Unarmed troops and workers' militiamen tried to maintain order but were careful to avoid clashes. Authorities made no attempt to break up the crowds, apparently hoping that the demonstrators would disperse quietly. The demonstrations appeared to be a backlash to the so-called anti-rightist campaign begun as part of the power struggle in the Chinese leadership after Mr. Chou died in January. [New York Times]
- The Peking riots received close attention in Washington, where United States officials said there might be a major counterattack by supporters of a moderate political policy against the radicals who seemed to dominate the government since the death of Chou En-lai in January. The riots started after authorities removed wreaths that had been placed in memory of Mr. Chou. There was disagreement in Washington about the demonstrations' spontaneity. [New York Times]
- Helmut Sonnenfeldt, Secretary of State Henry Kissinger's chief adviser, is said to have told American ambassadors in Europe that it is in the long-term interest of the United States to encourage East European countries to develop "a more natural and organic" relationship with the Soviet Union, according to an official, but non-verbatim, summary of his remarks. The summary has been the subject of controversy as a result of various versions published in the press. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 1004.09 (+12.51, +1.26%)
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 2, 1976 | 991.58 | 102.25 | 17.42 |
| April 1, 1976 | 994.10 | 102.24 | 17.91 |
| March 31, 1976 | 999.45 | 102.77 | 17.52 |
| March 30, 1976 | 992.13 | 102.01 | 17.93 |
| March 29, 1976 | 997.40 | 102.41 | 16.10 |
| March 26, 1976 | 1003.46 | 102.85 | 18.51 |
| March 25, 1976 | 1002.13 | 102.85 | 22.51 |
| March 24, 1976 | 1009.21 | 103.42 | 32.61 |
| March 23, 1976 | 995.43 | 102.24 | 22.45 |
| March 22, 1976 | 982.29 | 100.71 | 19.41 |