News stories from Tuesday April 27, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- 45,000 Americans have been killed in the Vietnam war so far; North Vietnam continued its attacks in South Vietnam today. [CBS]
- Secretary of State Rogers said the U.S. government believes that the People's Republic of China has a growing role in Asia, and America encourages China's constructive role. President Nixon will decide within a month on the U.S. policy toward admitting China to the United Nations. [CBS]
- Israel announced its willingness to reopen the Suez Canal in exchange for an unlimited cease-fire; King Hussein of Jordan said he is willing to accept slight border revisions with Israel. [CBS]
- New President Jean-Claude Duvalier of Haiti may soon declare amnesty for Haitians in exile. [CBS]
- Commerce Secretary Maurice Stans praised the Greek military government and referred to close relations between Greece and the U.S. during his visit last week. Today the State Department clarified that Stans was not commenting on internal Greece politics, and the Department is disappointed by the retention of martial law in Greece. [CBS]
- The Justice Department appealed to the Supreme Court to overturn its ruling ordering the federal government to obtain court permission to wiretap or bug domestic subversive organizations. [CBS]
- Defense Secretary Melvin Laird announced that the draft calls for the rest of the year will be the lowest in six years.
The Navy will soon have its first black Admiral.
The Navy has postponed construction of the fourth nuclear-powered aircraft carrier.
[CBS] - A House committee reported that drugs in Vietnam are more plentiful than cigarettes or chewing gum; 60% of soldiers have tried drugs. [CBS]
- President Nixon's alma mater, Whittier College, awarded him an honorary degree 12 years ago. Now the student senate has voted to urge the college to take it back because of Nixon's Vietnam policies; the college is not expected to do so. [CBS]
- A judge dismissed the charge of assault against Capt. Eugene Kotouc, but the charge of maiming a prisoner remains. [CBS]
- President Park Chung Hee is leading in South Korean national elections. The major issue in the campaign involves the South Korean CIA, which also serves as the country's FBI, Secret Service, Narcotics Control Department, Treasury Department, and President Park's personal secret police. Congressman Kim Dae Jung, who is opposing Park in the election, has vowed to eliminate the CIA if he is elected, and to end military reserves and shorten the length of military service.
Rioting college students caused the collapse of the government 11 years ago; they may riot again if they feel the election is not honest. But South Korea's economy is booming, a fact which may overshadow other issues.
[CBS] - Democratic presidential contenders labeled President Nixon's tax depreciation break for businessmen a "giveaway"; Treasury Secretary Connally said that their charge is "runaway rhetoric." [CBS]
- Amtrak will take over national railroad passenger service on Saturday. Unions and passenger organizations are attempting to get the courts to enjoin Amtrak from planned service cutbacks for 30 days. [CBS]
- General Motors and U.S. Steel reported sharp earnings increases for the first quarter of 1971. [CBS]
- Los Angeles Mayor Sam Yorty is preparing to run for president. In New Hampshire, Yorty has the support of the second-largest newspaper in the state and he disagrees with most of the other Democrat contenders on major issues. Yorty says that U.S. technology should be used to win the Vietnam war. [CBS]
- The government reported that 14 million people were on welfare in January. The 1.1% increase was the smallest since mid-1969. [CBS]
- The immunization rate of children for polio has dropped below 66%. A federal health official warned of a possible polio epidemic this summer if immunizations are not stepped up. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 947.09 (+3.09, +0.33%)
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 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 |
| April 14, 1971 | 932.55 | 103.37 | 19.44 |
| April 13, 1971 | 927.28 | 102.98 | 23.20 |