News stories from Friday March 12, 1971

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

South Vietnamese forces withdrew from the Tchepone area. U.S. helicopters airlifted 1,000 South Vietnamese from Fire Base Sophia in Laos. [CBS] President Nixon addressed graduates at the Naval Officers School in Newport, Rhode Island; construction industry and antiwar protesters were kept at a distance. The President presented a diploma to David Eisenhower, who graduated today. [CBS] There were strong reactions to Col. Anthony Herbert's charges of mistreatment of North Vietnamese POWs. At Fort McPherson, Georgia, Herbert said that the most common reaction is that it's time this story was made public, but he doesn't think it will make it. Herbert is charging both mistreatment of POWs and a cover-up by superior officers. [CBS] Bing Crosby and some of his associates are reportedly attempting to negotiate ransom for U.S. POWs in North Vietnam. [CBS] Foreign affairs adviser Henry Kissinger met privately with three of the co-conspirators in the plot to kidnap him. Participants were quoted as describing the meeting as amicable but bittersweet. [CBS] The California Committee on Un-American Activities has been abolished after Senate leader James Mills found his name in the committee's files. [CBS] The Turkish military demanded that Premier Suleyman Demirel resign or face a coup; Demirel resigned. [CBS] Protestant and Catholic shipyard workers marched together in Belfast, Northern Ireland, demanding a crackdown on terrorism in the wake of the killing of three British soldiers. [CBS] Senator William Fulbright announced that the Soviet Union has agreed to participate in a Mideast peacekeeping force, if Israel and Egypt reach an agreement. [CBS] The Soviet Union is reportedly resuming a program to land cosmonauts on the moon. [CBS] The Senate approved Social Security benefit increases ranging from 10% to 56%. [CBS] Supreme Court Chief Justice Warren Burger proposed that both sides of a court case share the costs of litigation to prevent bluffing until the last moment before negotiating a settlement. [CBS] The Federal Trade Commission went to court to stop the Philip Morris Corporation from distributing Personna Razor Blades as ad samples in Sunday newspapers. [CBS] Chicago Mayor Richard Daley appointed a committee to bid for both the Democrat and Republican national conventions in 1972. [CBS] Many women reporters expected to hold a news conference with President Nixon, but only nine were selected to interview the President about his wife's upcoming birthday. Women's Wear Daily reporter Candy Stroud claims that the media is being controlled, and reporters will only be allowed to ask approved questions. New York Daily News reporter Ann Wood also said that there are specific ground rules for the interview. El Paso Times reporter Sara McClendon stated that the President should talk to all reporters, not just those writing sweet stories about him. [CBS]

Stock Market Report

Dow Jones Industrial Average: 898.34 (-1.10, -0.12%)
S&P Composite: 99.57 (-0.33, -0.33%)
Arms Index: 0.81

	Issues	Volume*
Advances	642	6.80
Declines	687	5.87
Unchanged	314	2.01
Total Volume		14.68

* 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*
March 11, 1971	899.44	99.90	19.83
March 10, 1971	895.88	99.30	17.22
March 9, 1971	899.10	99.46	20.49
March 8, 1971	898.62	99.38	19.34
March 5, 1971	898.00	98.96	22.43
March 4, 1971	891.36	97.92	17.35
March 3, 1971	882.39	96.95	14.68
March 2, 1971	883.01	96.98	14.87
March 1, 1971	882.53	97.00	13.02
February 26, 1971	878.83	96.75	17.25