News stories from Wednesday January 17, 1973

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

South Vietnamese Foreign Minister Tran Van Lam says that peace is near but obstacles still exist. In Paris, technical talks continued today. Evidence indicates that a cease-fire is only days away, but press secretary Ron Ziegler is trying to discourage rumors and he gave no information on the Vietnam settlement. General Alexander Haig in still in Saigon going over the draft settlement with President Thieu. CBS was criticized by South Vietnam over yesterday's report of a possible cease-fire. [CBS] The U.S. bombed enemy positions in South Vietnam. [CBS] Government troops in South Vietnam have been ordered to guard against Communist land grabs in the last days before the cease-fire. [CBS] The Berrigan brothers are trying to visit Hanoi, but the U.S. Board of Parole will not allow it. A court ruled that the board lacks the authority to prevent their visit. Chief Justice Burger and the Supreme Court will review the matter on Friday. [CBS] Three antiwar demonstrations are planned for Washington, DC on Saturday to coincide with President Nixon's inauguration. Congressman Don Edwards says that as much as one-third of the U.S. House of Representatives may protest the war by boycotting the inauguration and joining the demonstrations. [CBS] The Pentagon Papers trial of Daniel Ellsberg and Anthony Russo began in Los Angeles. Prosecuting attorney David Nissen stated that neither the wisdom of the Vietnam war nor the government classification of documents are important factors in the case; he said that the release of the Pentagon Papers could have revealed information about American intelligence operations and hindered peace efforts. Ellsberg replied that if the Pentagon Papers had been available over the last 20 years, there would have been no Gulf of Tonkin Resolution and therefore no war. Defense attorney Leonard Weinglass says that Ellsberg was giving "necessary information" to the public. [CBS] Former FBI agent Alfred Baldwin testified about his connection with the Watergate bugging. An assistant U.S. attorney questioned Baldwin about how he was hired by James McCord, first as a bodyguard for Martha Mitchell and then to monitor telephone conversations at Democratic national headquarters. Baldwin said that he once drove with McCord, G. Gordon Liddy and E. Howard Hunt to McGovern headquarters and was told that might be his next assignment, but it never materialized.Baldwin claims to have monitored over 200 telephone conversations, mainly from the telephone of Democrat party employee R. Spencer Oliver. When Baldwin was asked to identify who else at Democratic party headquarters he overheard using that phone, the ACLU's Charles Morgan quickly objected on the grounds that naming others would violate the anti-bugging law, so Judge Sirica called for a closed-door hearing on the issue. Baldwin will testify again tomorrow; he has not identified any higher officials so far. [CBS] The Supreme Court ruled that black defendants have the right to question prospective jurors about their racial prejudice. [CBS] A bank robbery and triple murder was reported in Grandin, Missouri. Bank president Bob Kitterman was made to rob his own bank while his wife and daughter were held hostage. Later, the bodies of the Kitterman family were found shot to death. [CBS] The FDA is ordering stringent food labeling requirements. The new rule requires food products to carry labels regarding nutritional value; unprocessed foods are not included in the new rule. Protein, calorie content, carbohydrates, fats and vitamins all must be listed on the label. FDA commissioner Dr. Charles Edwards said that the new labeling may not go into effect for two years in order to give companies time to comply.A spokesman for the General Foods Corporation stated that new labels will be put on processed foods only when it is feasible to do so; the company feels that labeling is voluntary. At Del Monte Foods, the new labels are already being printed. In Minneapolis, a Pillsbury spokesman said that the company approves of the new rules and in many cases is already conforming to them. [CBS] A government study reported that little cigars are as dangerous to health as cigarettes. [CBS] Anti-hijack metal detectors in airports can be triggered by such items as keys and pens. The government now says that new detectors will overlook such items but will still detect all weapons. [CBS] President Nixon eliminated import barriers on oil and is allowing more oil to be imported. [CBS] Caspar Weinberger, the Health, Education and Welfare Secretary-designate, was questioned by the Senate. Weinberger stated that some programs will be cut or terminated, but wouldn't say which ones. Walter Mondale called Weinberger "unresponsive." Harold Hughes threatened not to call a vote on the nomination until the Senate knows Weinberger's views. Mondale asked Weinberger if he would object to having his nomination held up until after the Senate has the department's budget and could ask further questions. Weinberger replied that he would object, and declared that such questions are inappropriate to a confirmation hearing. [CBS] Secretary of State Rogers is attempting to make progress towards Mideast negotiations. Rogers suggested that Egypt re-opening the Suez Canal would be an important first step to Israeli withdrawal from occupied Arab land. Israel is not in favor of this suggestion. [CBS] Martial law continues in the Philippines. A new constitution giving President Ferdinand Marcos unlimited power has been instituted. [CBS] Secretary of Labor-designate Peter Brennan announced that a 90-day cooling-off period in the Long Island railroad strike has been ordered. [CBS] British Prime Minister Heath extended the United Kingdom's wage-price freeze for 60 days. Opposition to the freeze is significant. [CBS] Mariner 9 sent back pictures which suggest that life may once have existed on Mars. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1029.12 (+4.81, +0.47%)
S&P Composite: 118.68 (+0.54, +0.46%)
Arms Index: 0.71

	Issues	Volume*
Advances	788	9.78
Declines	651	5.73
Unchanged	357	2.17
Total Volume		17.68

* 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*
January 16, 1973	1024.31	118.14	19.17
January 15, 1973	1025.59	118.44	21.52
January 12, 1973	1039.36	119.30	22.23
January 11, 1973	1051.70	120.24	25.05
January 10, 1973	1046.06	119.43	20.88
January 9, 1973	1047.11	119.73	16.83
January 8, 1973	1047.86	119.85	16.84
January 5, 1973	1047.49	119.87	19.33
January 4, 1973	1039.81	119.40	20.23
January 3, 1973	1043.80	119.57	20.62