News stories from Tuesday December 22, 1970

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

North Vietnam released a full list of the prisoners of war they are holding; 1,000 Americans are still MIA. Hanoi says that all American POWs are on the list, which includes 20 Americans who died and nine who were released for a total of 368 names. All names on the list were already known by the United States. [CBS] South Vietnam will release 50 disabled Communist POWs. [CBS] There was heavy fighting along Highway 4 in Cambodia, which is the link between Phnom Penh and the sea. [CBS] Pvt. Gerald Smith and Sgt. Esequiel Torres will be tried for committing murders at My Lai. Torres' attorney Charles Weltner claims that the CIA caused the massacre, and three CIA agents have been subpoenaed to testify. [CBS] Civil rights leader Whitney Young met with President Nixon and his cabinet. Young stated that such a meeting was unprecedented, and he believes that the President is responsive to the needs of blacks. Nixon wants to improve his administration's image. [CBS] Congress compromised on the food stamp bill. Poor people who receive food stamps must work if they are able. Rep. W.R. Poage declared that Congress won't feed people who won't work; Senator George McGovern called the bill inadequate. The bill provides $1.75 billion this year and extends the program for 2½ years. [CBS] The House will give retiring Speaker John McCormack $38,000 a year above his $44,000 annual pension. [CBS] The Senate approved aid to Cambodia, but the filibuster against the supersonic transport continues. U.S. troops are banned from Cambodia. The welfare reform, import quotas and Social Security bills remain stalled. [CBS] The federal government charged Gulf, Mobil, Tenneco and Kerr-McGee oil companies with operating unsafe rigs in the Gulf of Mexico. [CBS] President Nixon authorized an increase of 100,000 barrels per day of oil imports in order to keep oil prices down and avoid winter a fuel shortage. [CBS] Major banks cut the prime interest rate from 7% to 6.75%. [CBS] The new Polish government called off the state of emergency. The Communist Party stated that former chief Wladyslaw Gomulka was out of touch with the people. Red China denounced the Soviet Union for interfering in Polish politics. [CBS] East Germany ended its harassment of traffic to West Berlin. [CBS] The Coast Guard ended its investigation of the Soviet defection attempt. The crew of the Vigilant wanted to grant asylum to the Lithuanian sailor, and Commander Ralph Eustis said that he wanted to harbor the defector but had to carry out orders to return the man. [CBS] Angela Davis was extradited from New York City to California under heavy security. [CBS] A West German court sentenced former Nazi death camp commander Franz Stangl to life in prison. As camp commander, Stangl ordered 400,000 Jews to be killed. [CBS]

Stock Market Report

Dow Jones Industrial Average: 822.77 (+1.23, +0.15%)
S&P Composite: 90.04 (+0.10, +0.11%)
Arms Index: 1.03

	Issues	Volume*
Advances	761	7.17
Declines	609	5.93
Unchanged	309	1.41
Total Volume		14.51

* 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*
December 21, 1970	821.54	89.94	12.69
December 18, 1970	822.77	90.22	14.36
December 17, 1970	822.15	90.02	13.66
December 16, 1970	819.07	89.72	14.24
December 15, 1970	819.62	89.66	13.42
December 14, 1970	823.18	89.80	13.81
December 11, 1970	825.92	90.26	15.79
December 10, 1970	821.06	89.92	14.61
December 9, 1970	815.24	89.54	13.55
December 8, 1970	815.10	89.47	14.37