News stories from Friday April 4, 1975

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

An American Air Force transport taking 243 Vietnamese orphans to refuge in the United States crashed and burned shortly after takeoff from Saigon. More than 100 of the children and at least 25 of the adults accompanying them were believed to have been killed. The Galaxy C-5A jet, the world's biggest plane, apparently suffered a loss of pressure that blew out its rear door after take off. [New York Times] A vast southward movement of North Vietnamese troops was reported in Saigon as Communist units carried out probing actions along South Vietnamese government defense lines in an arc around Saigon. A military spokesman announced that the government had re-established contact with three coastal cities which had previously been reported abandoned to the Communists without a fight. [New York Times] Four United States Navy aircraft carriers are standing by in the Western Pacific to evacuate American citizens and some South Vietnamese, but President Ford has not issued orders for the carriers to proceed to Vietnamese waters, administration officials said. The carriers and two-thirds of a Marine division based on Okinawa make up the evacuation forces, the officials said. [New York Times] President Nguyen Van Thieu of South Vietnam named a new Premier to head a "government of war and national union" and said it intended to defend the country's remaining territory against the Communists. Speaking over television and radio, he called upon the United States "to meet its commitments to South Vietnam." The new Premier is Nguyen Ba Can, speaker of the lower house of Parliament. [New York Times] The national unemployment rate rose substantially in March to 8.7 percent of the labor force and the number of "discouraged workers" -- those who have stopped looking for work -- reached a record figure of 1.1 million, the Labor Department said. The number of the unemployed was the highest since 1940 and the rate was highest since 1941. The March figures also showed the smallest monthly loss of jobs since last September. This may indicate "a weakening of the forces of recession," according to the Commissioner of Labor Statistics, who emphasized, nevertheless, that "the unemployment situation is extremely serious." [New York Times] President Ford, responding to the official announcement that the unemployment rate is now 8.7 percent of the nation's labor force, said that he would recommend a further extension of unemployment benefits. He said that when Congress returns from its Easter recess, he would propose legislation that would extend the benefits under two emergency programs. [New York Times] Portugal's armed forces virtually imposed a constitution on the country, with all essential power in the hands of their governing body, the High Council of the Revolution, exclusively a military body of 28 officers. A draft of the constitution was accepted by all the major political parties campaigning for the election of a constituent assembly. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 747.26 (-4.93, -0.66%)
S&P Composite: 80.88 (-0.63, -0.77%)
Arms Index: 1.19

	Issues	Volume*
Advances	492	3.87
Declines	821	7.71
Unchanged	459	2.56
Total Volume		14.14

* 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 3, 1975	752.19	81.51	13.92
April 2, 1975	760.56	82.43	15.60
April 1, 1975	761.58	82.64	14.48
March 31, 1975	768.15	83.36	16.27
March 27, 1975	770.26	83.85	18.30
March 26, 1975	766.19	83.59	18.58
March 25, 1975	747.89	82.06	18.50
March 24, 1975	743.43	81.42	17.81
March 21, 1975	763.06	83.39	15.94
March 20, 1975	764.00	83.61	20.96