News stories from Wednesday March 17, 1971

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

South Vietnamese forces continued to fall back in Laos -- the Pentagon calls the movement "mobile maneuvering" -- and Fire Base Lolo has been abandoned. Forces which were unable to reach Fire Base Brown due to enemy resistance are now attempting to reach Fire Base Aloui. [CBS] A reporter who just returned from Laos claimed that there is a large discrepancy between what he witnessed and what reports from Washington and Saigon say about the fighting. Operational objectives in Laos have changed several times, and the U.S. may have pressured South Vietnam into withdrawing from the threat of enemy contact in order to prevent higher casualty figures. [CBS] A White House spokesman said that reporters misinterpreted Defense Secretary Laird's statement that the U.S. will have no more than 50,000 soldiers in Vietnam by the end of next year; the White House is not committed to an exact figure. [CBS] Israeli Prime Minister Golda Meir rejected Secretary of State Rogers' proposal for an international peacekeeping force to guarantee the security of Israel's borders. [CBS] There are reports of a purge in Turkey which is forcing leftist military officers to resign. Police have captured the man who is believed to be the head of the group which recently kidnapped four U.S. Air Force men. [CBS] Italian police raided the headquarters of right-wing extremists in several cities; some dynamite was seized. [CBS] A 24-hour strike was staged in Britain to protest the government's anti-strike legislation. [CBS] Cuba is cracking down on able-bodied people without jobs, saying that all must work or be put to work in "rehabilitation centers." [CBS] A Senate committee concluded hearings into corruption at military service clubs overseas. Senator Charles Percy stated that he supports handing over the testimony to the Treasury and Justice Departments for possible prosecution for tax evasion and perjury. Col. Earl Cole said that if this was considered to be a fair and impartial hearing, then he fears for the future of the country. [CBS] At a news conference, three scientists said that supersonic transport flights could increase skin cancer; the conference was called by SST foe Senator William Proxmire. The White House called the statements a shocking attempt to create fear. [CBS] A White House panel proposed a plan for population control. [CBS] Personal income increased just one-fourth as much in February as it did in January, and only half as much as the average monthly increase in 1970. [CBS] A Senate committee approved a bill to create a $1.75 billion public works program to provide jobs for the unemployed. [CBS] President Nixon attended the funeral for civil rights leader Whitney Young in Lexington, Kentucky, and delivered a eulogy. [CBS] A hearing involving Angela Davis resumed in San Rafael, California. The hearing centered on Davis' co-defendant Ruchell Magee petitioning judge John McMurray to disqualify himself; McMurray agreed after a two-hour meeting. Magee and Davis apparently disagree on trial tactics; Magee objects to Davis' request to be freed on bail. The appointment of a new judge may take weeks. [CBS] Heavyweight boxing champion Joe Frazier remained in a Philadelphia hospital. Frazier stated that he always gets black eyes in a fight unless he beats his opponent in three or four rounds, and said that his kidneys are good but his blood pressure is high anytime he gets excited. Frazier says that he won't fight for while, but doesn't plan to retire. [CBS] Tricia Nixon revealed that she has been engaged to Edward Cox for over two years, though Cox didn't formally ask President Nixon's approval until last Thanksgiving. The wedding is planned for June. [CBS] Last November a judge ordered a New York lawyer to resume support of his 20-year-old daughter despite her hippie lifestyle. Now an appellate court has ruled that the father has the right to set reasonable behavior standards in exchange for support. [CBS]

Stock Market Report

Dow Jones Industrial Average: 914.02 (-0.62, -0.07%)
S&P Composite: 101.12 (-0.09, -0.09%)
Arms Index: 0.84

	Issues	Volume*
Advances	643	7.83
Declines	742	7.62
Unchanged	291	1.62
Total Volume		17.07

* 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*
March 16, 1971	914.64	101.21	22.27
March 15, 1971	908.20	100.71	18.92
March 12, 1971	898.34	99.57	14.68
March 11, 1971	899.44	99.90	19.83
March 10, 1971	895.88	99.30	17.22
March 9, 1971	899.10	99.46	20.49
March 8, 1971	898.62	99.38	19.34
March 5, 1971	898.00	98.96	22.43
March 4, 1971	891.36	97.92	17.35
March 3, 1971	882.39	96.95	14.68