News stories from Monday March 8, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A government expert witness at Patricia Hearst's trial -- a physician who described himself as a specialist in social and health problems -- said that it was his opinion that Miss Hearst voluntarily joined her revolutionary captors within four weeks of her kidnapping by the so-called Symbionese Liberation Army and then took part willingly in the bank robbery for which she is on trial. Dr, Joel Fort was the first expert witness called by the government to counter expert opinion given by three psychiatrists who testified for the defense. [New York Times]
- Gov. George Wallace of Alabama is in danger of being eliminated from the New York Democratic primary on April 6. His delegate candidates have been ruled off the ballot in 13 congressional districts and may be ruled off in another 11. The Wallace campaign here was also shaken by charges that the New York campaign coordinator, Mark Bablin, may have had a role in forging signatures on delegate petitions. [New York Times]
- President Ford was told by leaders of American Jewish organizations that they were "most strenuously opposed" to the administration's plan to lift the military embargo against Egypt, beginning with the sale of six military transport planes. Several Jewish leaders said that a major effort would be made by supporters of Israel in coming weeks to halt the sale of the planes, or at least to insure that nothing more militarily important would be sold to Egypt. Max Fisher, a Republican fundraiser from Michigan who has been an unofficial liaison between Jewish groups and the White House, will meet with Mr. Ford tomorrow to express his concern that the sale of the planes may hurt Mr. Ford's election chances. [New York Times]
- As a result of nearly 18 months of congressional investigations, congressional and administration sources said, Attorney General Edward Levi will impose guidelines on the Federal Bureau of Investigation's handling of domestic security, White House employment and civil disorder inquiries. Mr. Levi, it was said, temporarily abandoned a proposal that would permit the F.B.I. to take "preventive action" against plans of violence. [New York Times]
- Congressional sources said that two former senior Internal Revenue Service officials and an assistant Southeast regional commissioner told members of a House investigation committee that they were unfairly pressured to retire because their politics did not suit Donald Alexander, the I.R.S. Commissioner. A.J. O'Donnell, one of the two former senior officials, suggested that the enforced retirements might have been connected with knowledge that Mr. Alexander's former law firm had come up in a major I.R.S. inquiry into Bahamian tax-fraud schemes. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 988.74 (+15.82, +1.63%)
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* |
| March 5, 1976 | 972.92 | 99.11 | 23.03 |
| March 4, 1976 | 970.64 | 98.92 | 24.41 |
| March 3, 1976 | 978.83 | 99.98 | 25.45 |
| March 2, 1976 | 985.12 | 100.56 | 25.59 |
| March 1, 1976 | 975.36 | 100.02 | 22.07 |
| February 27, 1976 | 972.61 | 99.71 | 26.94 |
| February 26, 1976 | 978.83 | 100.11 | 34.32 |
| February 25, 1976 | 994.57 | 101.69 | 34.68 |
| February 24, 1976 | 993.55 | 102.03 | 34.38 |
| February 23, 1976 | 985.28 | 101.61 | 31.46 |