News stories from Thursday April 12, 1973

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

The Arab guerrillas who were killed in the raids by Israeli commandos earlier this week were buried today in Beirut. Huge crowds were angry and vengeful as 100,000 people marched in the funeral procession for the three assassinated Arab terrorist leaders.The Palestinians charged the United States with involvement in the Israeli raid. John Scali, U.S. Ambassador to the United Nations, denied that the U.S. had anything to do with the raid. The U.S. is concerned about a new wave of anti-Americanism and Mideast violence between the Arabs and Israel. Secretary of State Rogers is said to fear for the safety of Americans and American property in Arab areas. Israeli commandos seized documents during their Lebanese raid which implicate many Arabs living in Israel as terrorists. Many arrests have resulted from the new information. [CBS] The crew of the Queen Elizabeth II demanded and were promised hazardous duty pay for their upcoming voyage to Israel. Most of the passengers will be Jews from England, the U.S. and Europe. [CBS] The military situation in Cambodia remains grim. Speculation is growing that South Vietnamese troops may come to the government's aid. The Viet Cong charged that such a venture is being planned by South Vietnam with the help of the United States. The White House officially denied reports that South Vietnam is planning a Cambodian intervention and played down the return of General Alexander Haig from his Indochina visit. Options reportedly open to the U.S. are: (1) increase B-52 raids in Cambodia, (2) help coordinate American, South Vietnamese and Cambodian efforts to relieve the siege of Phnom Penh and (3) arrange a meeting between Henry Kissinger and Hanoi's Le Duc Tho regarding the rapidly deteriorating Indochina situation. [CBS] The U.S. has over 1,300 MIAs in Indochina. The person in charge of locating the men said that perhaps all are dead. The search will continue, however. [CBS] The Senate opened hearings on diet fads. Robert Atkins, the author of "Diet Revolution", testified that American Medical Association attacks on his low-carbohydrate diet are based on inadequate studies. AMA spokesman Dr. C. E. Butterworth stated that the Atkins diet is dangerous because it advocates unrestricted fat intake and greatly increased vitamin intake. [CBS] House Democratic leaders changed their minds about postponing the vote on economic controls. Action will be taken Monday on a bill to put a ceiling on rents at January 10 levels and on prices and interest rates at March 16 levels. [CBS] President Nixon asked Congress to increase unemployment benefits. [CBS] Howard Phillips, the man in charge of dismantling the Office of Economic Opportunity, says that the OEO will be dismantled on schedule. But White House spokesman Jerry Warren stated that the administration will obey the law regarding yesterday's court decision that dismantling the OEO is illegal. Office of Economic Opportunity appropriations must be voted on by Congress before June 30. [CBS] A Department of Health, Education and Welfare survey shows that the integration of schools is continuing; 37% of black children are now in predominantly white schools. [CBS] Armand Hammer, president of the Occidental Petroleum Company, announced an $8 billion deal with the Soviet Union for chemical fertilizer production. Hammer has had business relations with Russia since the days of Lenin. [CBS] Pablo Picasso's family announced that they are giving Picasso's collection of paintings by other artists to the French people. The collection includes works by Matisse, Cezanne and Renoir, among others. [CBS] Environmental Protection Agency director William Ruckelshaus defended his one-year extension of the 1975 anti-pollution standards for cars, and stated that Henry Ford was mistaken in saying that EPA standards can't be met by 1976. Ruckelshaus said that the auto industry has a bad attitude towards change. [CBS] The U.S. is observing "Earth Week." An Oregon law outlaws the use of no-deposit, no-return containers. Governor Tom McCall claims that the law helps keep roadsides free of litter. Bottlers have noted that bottles are not the only form of roadside pollution, and grocers say that the law is inconvenient. [CBS]

Stock Market Report

Dow Jones Industrial Average: 964.03 (-3.38, -0.35%)
S&P Composite: 112.58 (-0.10, -0.09%)
Arms Index: 1.31

	Issues	Volume*
Advances	703	6.07
Declines	717	8.12
Unchanged	366	2.17
Total Volume		16.36

* 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*
April 11, 1973	967.41	112.68	14.89
April 10, 1973	960.49	112.21	16.77
April 9, 1973	947.55	110.86	13.74
April 6, 1973	931.07	109.28	13.89
April 5, 1973	923.46	108.52	12.75
April 4, 1973	922.71	108.77	11.89
April 3, 1973	927.75	109.24	12.91
April 2, 1973	936.18	110.18	10.64
March 30, 1973	951.01	111.52	13.74
March 29, 1973	959.14	112.71	16.05