News stories from Wednesday May 26, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Australia's Qantas Airways paid $560,000 in response to a call claiming that there was a bomb aboard their plane; no bomb was found when the plane landed. Police searched the Melbourne, Australia, airport for the bomb hoaxer. [CBS]
- Three South African air force jets crashed near Cape Town, South Africa. [CBS]
- The bodies of several murdered migrant workers have been found in a California orchard. In Yuba City, Sutter county sheriff Roy Whiteaker said that some of the bodies were dead only 48 hours, others for two months. Police arrested migrant worker contractor Juan Corona for the murders and are continuing to dig for more bodies. [CBS]
- The Senate rejected two amendments to the draft extension bill. [CBS]
- The Pentagon and the CIA differ in their opinions on the purpose of the new Soviet missile site that is being constructed. The Pentagon admits that the construction could be for new missiles, existing missiles, or strengthening present systems. [CBS]
- U.S. command has declared South Vietnamese drugstores off limits to soldiers. [CBS]
- Soviet President Podgorny met with President Sadat in Egypt; Israeli financial minister Pinhas Sapir stated that Israel would rather lose American support than accept an unsatisfactory Middle East settlement. [CBS]
- The chairman of a presidential commission warned of the possibility of a race war. Dr. Milton Eisenhower said that the great cause of crime is handguns, and he believes that the National Rifle Association is misleading America. Eisenhower clams that the extreme right and extreme left are building arsenals of every type of weapon. In response to a question from Senator Edward Kennedy, Eisenhower said that he believes a racial war is possible in the United States. [CBS]
- A House investigator said that re-registration plans were used in Mississippi in order to purge black voters from voting rosters. [CBS]
- Joetha Collier, an 18-year-old black girl, was shot in Drew, Mississippi; police arrested three white teenagers. The shot was fired from a car at another target, but the bullet struck and killed Collier. [CBS]
- President Nixon called on the Justice Department and the FBI to give all possible assistance in solving the recent shootings of policemen. [CBS]
- A new subpoena from a House committee calls for the appearance of CBS president Frank Stanton and a submission of outtakes of interviews or events used in the broadcast of "The Selling of the Pentagon".
Administration communications chief Herbert Klein criticized the committee's subpoena.
[CBS] - A conference of 18 nations on urban problems is being held in Indianapolis. Cleveland Mayor Carl Stokes proposed a national housing insurance program to be administered by the federal government, Stokes estimates the program cost at $10 billion per year. Housing Secretary George Romney said that he doesn't believe Stokes' proposal would be as effective as the competitive enterprise approach. [CBS]
- A group of teachers in Jacksonville, Florida, complained that President Nixon's daughter, Julie Eisenhower, has received special treatment by being given a teaching position four blocks from her residence. [CBS]
- President Nixon asked Congress for $60 million to fund art projects. [CBS]
- 60 former Fidel Castro supporters recently professed disillusionment with Castro after his arrest of Cuban poet Heberto Padilla. Padilla, formerly critical of Castro, confessed the error of his ways after a month in a Cuban jail; left wing intellectuals are now expressing their first indignation with Castro. Havana radio broadcast Padilla's statement calling the 60 intellectuals "cynical enemies of socialism". [CBS]
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Stock Market Report
Dow Jones Industrial Average: 906.41 (-0.28, -0.03%)
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* |
| May 25, 1971 | 906.69 | 99.47 | 16.05 |
| May 24, 1971 | 913.15 | 100.13 | 12.06 |
| May 21, 1971 | 921.87 | 100.99 | 12.09 |
| May 20, 1971 | 923.41 | 101.31 | 13.34 |
| May 19, 1971 | 920.04 | 101.07 | 11.74 |
| May 18, 1971 | 918.56 | 100.83 | 17.64 |
| May 17, 1971 | 921.30 | 100.69 | 15.98 |
| May 14, 1971 | 936.06 | 102.21 | 16.43 |
| May 13, 1971 | 936.34 | 102.69 | 17.64 |
| May 12, 1971 | 937.46 | 102.90 | 15.14 |