News stories from Wednesday April 9, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The White House said President Nixon gave private assurances to Saigon in 1973 that the United States would react vigorously to a major Communist violation of the cease-fire agreement. The statement, in response to Senator Henry Jackson's charge of "secret agreements," said the private assurances had been substantially the same as what Mr. Nixon and others were saying in public. They lost validity, the White House said, because Congress imposed a ban on American combat activity in Indochina in August, 1973. Senator Jackson clearly felt the statement vindicated the charge he had made. [New York Times]
- Communist forces are continuing an assault on the key provincial capital of Xuan Loc, 36 miles northeast of Saigon. It was part of a drive apparently aimed at isolating the national capital. Another hard blow was also struck at the provincial capital Tan An on the highway connecting Saigon with the Mekong Delta area to the southwest. More Communist troops are known to be concentrating in the area. [New York Times]
- President Ford is considering contingency plans to evacuate thousands of South Vietnamese officials who have worked closely with the United States and military officers whose lives might be in jeopardy in a Communist takeover. The plans were reportedly discussed at a National Security Council meeting called to review foreign policy. Decisions on military and humanitarian aid and possible evacuation will figure in Mr. Ford's speech to Congress tomorrow night. [New York Times]
- The House Ways and Means Committee approved a bill to extend health insurance benefits to about 3 million unemployed workers, financing them by an 8 percent special excise tax on the group health insurance paid by the employed. It rejected a version urged by organized labor to rely mainly on revenues. [New York Times]
- The directors of the National Association of Broadcasters voted overwhelmingly to amend the Television Code, effective next September, to designate the hours from 7 to 9 P.M. as "family viewing time." Stations that show programs deemed unsuitable for children without special warning could have their code membership revoked. [New York Times]
- Finance ministers from major non-Communist industrial nations agreed at a Paris conference that the worst of the world's recession was over and no further measures are needed to stimulate the start of recovery. They signed an agreement for a $25 billion lending facility for industrial nations suffering from high oil prices. [New York Times]
- Governor Carey said that his counsel, Judah Gribetz, would meet shortly with senior state judicial officials to discuss the alleged cover-up of possible crimes by law enforcement officers during and after the Attica prison revolt in 1971. He said they would determine if judicial-branch action was warranted to resolve charges brought by a member of the Attica prosecution team who resigned. [New York Times]
- The Beame administration is filling federally financed jobs in the Office of Neighborhood Services with political patronage appointees rather than the long-term unemployed for whom the jobs are intended. Names referred by Democratic Councilmen, Assemblymen, State Senators, Borough Presidents and county leaders have been cleared through City Hall, according to officials within the office. An examination by a reporter of the names of 16 persons listed in the City Record for April 3 as hired to be neighborhood aides or their assistants showed that 11 had political connections. Some were district leaders. [New York Times]
- The Securities and Exchange Commission charged the United Brands Company with having paid a $1.25 million bribe to government officials of Honduras to get favorable tax treatment on banana shipments from that country. In a suit filed in Washington, the S.E.C. also accused the company of having paid $750,000 in bribes to European officials. The suit followed a routine inquiry into the company's affairs after the suicide on Feb. 3 of its chairman and president, Eli Black. [New York Times]
- The House of Commons voted 396 to 170 in favor of continued British membership in the Common Market, but Prime Minister Harold Wilson suffered a potentially damaging loss of support from about half his Labor party's members in the House. Opposition Conservatives supported Mr. Wilson's call for remaining in the market on the recently renegotiated terms. The Common Market issue will be decided by a national referendum in June. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 767.99 (+18.77, +2.51%)
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 8, 1975 | 749.22 | 80.99 | 14.32 |
| April 7, 1975 | 742.88 | 80.35 | 13.86 |
| April 4, 1975 | 747.26 | 80.88 | 14.17 |
| April 3, 1975 | 752.19 | 81.51 | 13.92 |
| April 2, 1975 | 760.56 | 82.43 | 15.60 |
| April 1, 1975 | 761.58 | 82.64 | 14.48 |
| March 31, 1975 | 768.15 | 83.36 | 16.27 |
| March 27, 1975 | 770.26 | 83.85 | 18.30 |
| March 26, 1975 | 766.19 | 83.59 | 18.58 |
| March 25, 1975 | 747.89 | 82.06 | 18.50 |