News stories from Wednesday December 3, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Communist-led Pathet Lao took full control of Laos, announcing the end of the 600-year-old monarchy, abolition of the coalition government and establishment of a People's Democratic Republic. A broadcast by the Vientiane radio said that King Sayang Vatthana had given up the throne and the neutralist Prime Minister, Prince Souvanna Phouma, had resigned his office. [New York Times]
- A staff report of the Senate Select Committee on Intelligence said the Federal Bureau of Investigation supplied secret files and conducted wiretaps and physical surveillance at the behest of presidents from Franklin D. Roosevelt to Richard Nixon. Among its disclosures were that the late Robert F. Kennedy, as Attorney General, authorized wiretaps of New York Times and Newsweek correspondents in an effort to trace news leaks. [New York Times]
- President Ford's proposed legislation for up to $2.3 billion in renewable loans to prevent a New York City default won its first Senate test. By 57 votes to 23 a motion to table it was defeated. Senator Mike Mansfield, the majority leader, filed a cloture petition to head off a filibuster and the leadership also indicated no amendments to the bill passed by the House would be accepted by it. [New York Times]
- Five persons connected with the Teamsters union and with the underworld, including an associate of Anthony Provenzano, a former Teamster official from New Jersey, have reportedly been subpoenaed to testify today before a Detroit grand jury investigating the disappearance of James Hoffa. Federal officials were understood to be planning to use the session to press for a break in the Hoffa case, although the warrants referred to the disappearance of another man. [New York Times]
- Estrogen hormones taken by millions of American women to ease symptoms and aftereffects of menopause have been linked to a higher risk of cancer of the uterus in two studies published by The New England Journal of Medicine. They strongly suggest, but do not prove, a causal relationship between the dramatic increase in the disease and the wide increase in the use of the drug. The advisory committee on obstetrics and gynecology of the Food and Drug Administration will meet to review the findings and determine what action, if any, should be taken. [New York Times]
- Chinese and American leaders have decided not to issue a joint communique when President Ford's visit to Peking ends Friday. This was in line with the expectation that the meeting was more a matter of atmosphere than substance and would produce no fundamental change in relations. Mr. Ford met for the fourth time with Teng Hsiao-ping, the Deputy Prime Minister. [New York Times]
- Information in Moscow indicated a 1975 grain crop of 137.2 million tons, which would mean the most disastrous harvest failure in a decade, putting it well below the United States estimate of 160 million tons. The goal was 215.6 million tons. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 825.49 (-17.71, -2.10%)
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* |
| December 2, 1975 | 843.20 | 89.33 | 17.93 |
| December 1, 1975 | 856.34 | 90.57 | 16.05 |
| November 28, 1975 | 860.67 | 91.24 | 12.87 |
| November 26, 1975 | 858.55 | 90.94 | 18.78 |
| November 25, 1975 | 855.40 | 90.71 | 17.49 |
| November 24, 1975 | 845.64 | 89.70 | 13.93 |
| November 21, 1975 | 840.76 | 89.53 | 14.11 |
| November 20, 1975 | 843.51 | 89.64 | 16.46 |
| November 19, 1975 | 848.24 | 89.98 | 16.82 |
| November 18, 1975 | 855.24 | 91.00 | 20.76 |