News stories from Friday January 19, 1973

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

Vice President Agnew will go to Saigon a week from Sunday to initial the cease-fire agreement. The Prime Minister of Thailand stated that the cease-fire agreement could extend to all of Indochina within 10 days of being signed. South Vietnam Foreign Minister Tran Van Lam says that the cease-fire poses no problem for South Vietnam, and the terms for the withdrawal of North Vietnamese troops from South Vietnam are flexible; Lam believes that peace is very near.Hanoi and Washington have both made concessions in the agreement. The U.S. is willing to settle for a cease-fire in Vietnam alone; an Indochina cease-fire may come later. The U.S. must now release enemy POWs before North Vietnam releases American POW's. North Vietnam has agreed to make mention of the demilitarized zone in the cease-fire agreement, and has agreed to a peacekeeping force of 3,000 troops rather than 250 as it originally desired. But South Vietnam still feels that the settlement gives North Vietnam a good chance to conquer South Vietnam. [CBS] At his final news conference, outgoing Defense Secretary Melvin Laird said if war breaks out again in South Vietnam, that country must defend itself. [CBS] President Thieu's daughter Nguyen Thi Tuan Anh married Nguyen Tan Trieu, whose father is a very wealthy South Vietnamese businessman. [CBS] Washington is preparing for the inaugural ceremonies to be held on Saturday. J. Willard Marriott, chairman of the inaugural committee, says that preparations are going smoothly. But some Congressmen will boycott the inauguration, and antiwar demonstrations are planned. Jerry Gordon, coordinator for the National Peace Action Coalition, said that President Nixon can't flee town during this demonstration. Leonard Bernstein conducted a free concert for peace at the Washington Cathedral. The concert was not part of the inaugural ceremonies. [CBS] Washington (DC) police are hunting for eight blacks who are suspects in a mass murder. At a house once owned by Kareem Abdul-Jabbar (formerly known as Lew Alcindor), five children whose ages ranged from 9 days to 11 years were murdered. Two adults were also murdered. Four of the children were drowned, the rest of the victims were shot. The murders may be the result of a feud between warring Muslim sects. District of Columbia police captain A. F. DiGennaro called it the worst crime he's ever seen. Two women at the house were wounded but are still alive; the father of one of the women said he was afraid that something like this would happen. Jabbar stated that the murderers must be "lunatics", and he discounted the religious war theory. [CBS] The gross national product was up 6.5% in 1972. Economist Herbert Stein says that the result is a higher standard of living. [CBS] The trial of Daniel Ellsberg and Anthony Russo continued in Los Angeles. Army General William DePuy testified that the Wheeler report, which was part of the Pentagon Papers that was leaked by the defendants, could have helped the enemy. The defense attorney then produced a government report on Vietnam which was published before the Pentagon Papers release and contains most of the information later disclosed by the defendants. Russo said that the government's report is available anywhere for $6.00. [CBS] After a court ruling that monitored telephone conversations cannot be used as evidence in the Watergate bugging, the trial resumed. Prosecution witness Alfred Baldwin testified to delivering tapes of conversations to the Committee to Re-Elect the President, implicating E. Howard Hunt and G. Gordon Liddy. [CBS] The current oil spill in San Francisco Bay was not accidental. Oil company officials say that vandals deliberately opened the valves of five oil storage tanks; 6,000-10,000 gallons of oil were spilled. [CBS] Senator Vance Hartke refused to be searched by a metal detector at the Evansville, Indiana, airport. He feels that such searches are illegal and unnecessary. [CBS] At New York City's Metropolitan Museum of Art, many paintings supposed to have been done by old masters are suspected of being phonies. Some of the paintings done by Rembrandt, El Greco, Goya and others are now believed to have been painted by helpers and others. The value of the paintings is now in a state of violent flux. Everett Fahy, curator of European paintings, says that 800 so-called Rembrandts exist in the U.S. alone, but Rembrandt only ever painted 300. Eight of the 38 Rembrandts owned by the Metropolitan Museum have been judged inauthentic. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1026.19 (-2.93, -0.28%)
S&P Composite: 118.78 (-0.07, -0.06%)
Arms Index: 1.13

	Issues	Volume*
Advances	522	5.04
Declines	928	10.14
Unchanged	338	1.84
Total Volume		17.02

* 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*
January 18, 1973	1029.12	118.85	17.81
January 17, 1973	1029.12	118.68	17.68
January 16, 1973	1024.31	118.14	19.17
January 15, 1973	1025.59	118.44	21.52
January 12, 1973	1039.36	119.30	22.23
January 11, 1973	1051.70	120.24	25.05
January 10, 1973	1046.06	119.43	20.88
January 9, 1973	1047.11	119.73	16.83
January 8, 1973	1047.86	119.85	16.84
January 5, 1973	1047.49	119.87	19.33