News stories from Friday June 6, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Labor Department said the national unemployment rate rose again in May, although the total number of the employed increased for the second consecutive month. The unemployment rate in May was 9.2 percent of the labor force, up from 8.9 percent in April and the highest since 1941. Both employment and unemployment can rise at the same time in an expansion of the labor force -- those at work or looking for jobs. That is what happened in April. [New York Times]
- Arthur Burns, chairman of the Federal Reserve Board, relayed to the Internal Revenue Service President Nixon's order that the agency make special investigations of student protesters, black militants and anyone who was financing them, according to a report issued by the staff of the congressional Joint Committee on Internal Revenue Taxation. The staff has been investigating the use of the I.R.S. to impede the activities of people and groups regarded as "extremist." Dr. Burns sent the order to the I.R.S. in June, 1969, when he was a presidential counselor, the report said. [New York Times]
- President Ford received a report on Central Intelligence Agency activities. But there were doubts about whether it would be made public and contradictions about the handling of the investigation of alleged assassination plots. Vice President Rockefeller presented a 299-page volume detailing the findings of his special commission created last January to investigate certain activities of the agency. Mr. Rockefeller told the President that the commission "did not have time to review the assassination attempts, but we will turn over to you the information we've gathered." [New York Times]
- A man armed with a knife hijacked a helicopter soon after its takeoff from a Detroit-area airport and forced its pilot to land him inside the walls of Southern Michigan Prison in Jackson and whisk away a waiting prisoner. The inmate was identified as Dale Remling, 46 years old, of Sidney, Mich. The police announced two arrests in connection with the intricately planned escape, but the inmate, described as a "real hard case," was still at large. [New York Times]
- The British voted overwhelmingly to remain in the Common Market, ending a long-standing political debate over the country's role in Europe. The final tally of Thursday's national referendum -- the first in Britain's history -- showed that 67.2 percent of the voters said "yes" to the Market. The margin of more than 2 to 1 surprised the most fervent pro-Market politicians. [New York Times]
- Portugal's military rulers announced that the Socialist newspaper Republica would be allowed to resume publication as soon as its owners ask the military authorities to remove the seal that officially closed the newspaper building in Lisbon on May 20. The military appeared to yield, at least temporarily, to a demand by the Socialist party that the newspaper be permitted to publish, or the party would withdraw from the government. The paper had been closed when Communist-led printers sought the removal of the publisher and a voice in the paper's policy. [New York Times]
- Gen. Paul Stehlin was on the payroll of the Northrop Corporation as an overseas consultant while he was a vice president of the French National Assembly, according to an auditor's inquiry into Northrop's operations made public by the Senate Foreign Relations subcommittee on multinational corporations. General Stehlin was forced to resign last November after he precipitated a storm by writing to President Valery Giscard d'Estaing to the effect that American aircraft were cheaper and had undergone more impressive flight tests than French-built Mirages. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 839.64 (-2.51, -0.30%)
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* |
| June 5, 1975 | 842.15 | 92.69 | 21.61 |
| June 4, 1975 | 839.96 | 92.60 | 24.90 |
| June 3, 1975 | 846.14 | 92.89 | 26.56 |
| June 2, 1975 | 846.61 | 92.58 | 28.24 |
| May 30, 1975 | 832.29 | 91.15 | 22.67 |
| May 29, 1975 | 815.00 | 89.68 | 18.57 |
| May 28, 1975 | 817.04 | 89.71 | 21.85 |
| May 27, 1975 | 826.11 | 90.34 | 17.05 |
| May 23, 1975 | 831.90 | 90.58 | 17.87 |
| May 22, 1975 | 818.91 | 89.39 | 17.61 |