News stories from Thursday April 29, 1971

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

The Communist negotiators at the Paris Peace Talks made a new proposal. Viet Cong negotiator Madame Nguyen Thi Binh said that the Viet Cong will not fire on American units which are taking no hostile action against them. U.S. negotiator David Bruce replied that the U.S. still proposes a total cease-fire in Indochina.Presidential press secretary Ron Ziegler labeled the Communist proposal a "propaganda stunt"; the State Department found nothing new in the Communists' willingness to negotiate a U.S. withdrawal date. [CBS] A jury found Capt. Eugene Kotouc not guilty of maiming a Vietnamese prisoner. Kotouc admits cutting off the prisoner's finger, but claimed it was an accident. The judge instructed the jury that Army regulations at the time of the incident could have led Kotouc to believe it was legal to threaten violence in order to obtain information from a prisoner.Kotouc said that he is pleased to live in a country with a just judicial system, and he plans to stay in the Army. Even prosecutor Maj. William Eckhardt said that he believes the verdict was fair. [CBS] Nails are among the U.S. weapons being fired from helicopters in the Vietnam war. The nails are called "flechettes"; there are over 2,000 of them in a rocket, and two rockets can spread flechettes over an area the size of a football field. Flechettes are most effective against the enemy out in the open or in trees. The enemy doesn't have to be as closely pinpointed in order to be hit. Nails are also used in artillery shells and shotguns. [CBS] Cambodian Premier Lon Nol has been unable to form a new government since his resignation last week. General Sirik Matak was named the new Premier and Lon Nol is now the commander-in-chief. [CBS] Antiwar demonstrations got out of hand at the Department of Health, Education and Welfare building, where guards pushed back protesters who were enraged by wooden barricades that were erected to keep them out of the main part of the building. Later, protesters tore down a wall and began to march with boards towards the White House, so police arrested 150 of them for "parading" without a permit. [CBS] A court of appeals turned down defense motions to free Capitol bombing suspect Leslie Bacon. Bacon is expected to testify before a grand jury in Seattle. Bacon, the eldest of eight children of a lumber executive from Atherton, California, is described as studious, quiet and honest. Her parents share Leslie's views against the Vietnam war and believe her to be morally incapable of violence. A friend stated that Bacon has always been a pacifist. [CBS] The ad-hoc House War Crimes Committee heard from a former helicopter pilot who told them of helicopters firing at Vietnamese civilians. One congressman accused the committee of trying to undermine the military and said that those on the committee should be censured. House Speaker Carl Albert refused to intervene, noting that any congressman can use the facilities for a meeting on any subject. [CBS] House Speaker Carl Albert introduced a resolution calling for President Nixon to convene a national unemployment and inflation conference. [CBS] The Agriculture Department's new food stamp regulations take effect next month. The government says that 350,000 people will lose their stamps and another 1.75 million will pay more for them. A Senate witness contended that the new regulations will adversely affect 4 million poor people. [CBS] A grand jury in Cleveland indicted four companies for polluting Lake Erie. The maximum fine is $2,500 per charge. [CBS] New Haitian President Jean-Claude Duvalier announced amnesty for Haitian exiles, except Communists and "troublemakers". Duvalier attended a church service in tribute to his deceased father, Francois Duvalier, with security forces massed around the church. The government expects a coup attempt, but coup attempts in Haiti over the last 14 years have all been unsuccessful. [CBS] The price of gold reached an 18 month high as the value of the U.S. dollar declined. [CBS] Defense Secretary Melvin Laird had a successful operation for a double hernia. He is expected to be back at work by mid-May. [CBS]

Stock Market Report

Dow Jones Industrial Average: 948.15 (-2.67, -0.28%)
S&P Composite: 104.63 (-0.14, -0.13%)
Arms Index: 1.25

	Issues	Volume*
Advances	587	6.67
Declines	824	11.72
Unchanged	277	1.96
Total Volume		20.35

* 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 28, 1971	950.82	104.77	24.82
April 27, 1971	947.09	104.39	21.25
April 26, 1971	944.00	103.94	18.86
April 23, 1971	947.79	104.05	20.15
April 22, 1971	940.63	103.56	19.27
April 21, 1971	941.33	103.36	17.04
April 20, 1971	944.42	103.61	17.88
April 19, 1971	948.85	104.01	17.73
April 16, 1971	940.21	103.49	18.28
April 15, 1971	938.17	103.52	22.54