News stories from Tuesday April 1, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Government troops abandoned South Vietnam's third largest city, Qui Nhon, amid indications that the North Vietnamese were pouring through most of the country without having to do much fighting. As the Communists pressed closer to Saigon, Western diplomats voiced dismay at the government's relative silence, and some believed an attack on the capital might be imminent. At least six regular North Vietnamese divisions are said to be in the region. According to military sources, Qui Nhon, like Da Nang, was handed to the North Vietnamese with scant fighting, panic, and a mass exodus of civilians and deserters. [New York Times]
- Despite an official American denial that the United States Embassy has begun evacuating personnel, Americans are streaming out of Vietnam. Airlines reported departing flights fully booked. Other Americans appeared to be leading their normal lives. Many seemed either unable to grasp the collapse of the South Vietnamese army or simply unconcerned. Some senior officials were said to be deeply alarmed at the rout and aware that Saigon itself might not last much longer. [New York Times]
- Opposition to President Nguyen Van Thieu has become widespread and vocal as the impression has grown that he no longer controls the people of South Vietnam, or even the government and armed forces. A South Vietnamese official reported hearing a broadcast from the northern city of Da Nang, occupied by the North Vietnamese army on Sunday, announcing that it was being governed by a coalition rather than the Viet Cong. The chief flag flown was said to be that of the National Force of Reconciliation and Concord, a Saigon Buddhist group. There was speculation that the Communists may plan such a coalition for Saigon. [New York Times]
- Marshal Lon Nol's five-year rule came to a virtual end as he left Phnom Penh's airport under rocket attack on his way to Indonesia. He left to his friends and supporters the task of trying to use his departure to obtain new aid from the United States or for negotiations with the insurgents. [New York Times]
- The trial of John Connally on charges that as Secretary of the Treasury in 1971 he accepted a bribe of $10,000 from a dairy industry official opened in federal court in Washington. Mr. Connally, once considered a leading contender for the Republican presidential nomination for 1976, has persistently denied the charge that he took the money in exchange for efforts to persuade President Nixon to raise the federal supports for milk prices. He declined comment on entering and leaving the courthouse. [New York Times]
- Courts and bar associations, at the urging of some lawyers but to the outrage of others, are moving slowly and cautiously to improve the quality of legal services by forcing lawyers to take periodic refresher courses or leave the bar. At the request of the Minnesota Bar Association, the Supreme Court of that state is expected to impose such an order within a week. The Supreme Court of Iowa is expected to adopt a similar plan, and other states are working on or considering their own plans. [New York Times]
- Governor Byrne and the Democratic leaders of the New Jersey Legislature announced that they had achieved consensus on the need of some kind of state income tax to meet the fiscal crisis. This showed unprecedented unity on tax policy, but did not extend to an agreement on the form the income tax should take or the amount of revenue it would produce. Mr. Byrne said he thought all had agreed that the income tax would be the priority item when the legislature met later this month. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 761.58 (-6.57, -0.86%)
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 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 |
| March 24, 1975 | 743.43 | 81.42 | 17.81 |
| March 21, 1975 | 763.06 | 83.39 | 15.94 |
| March 20, 1975 | 764.00 | 83.61 | 20.96 |
| March 19, 1975 | 769.48 | 84.34 | 19.03 |
| March 18, 1975 | 779.41 | 85.13 | 29.16 |
| March 17, 1975 | 786.53 | 86.01 | 26.78 |