News stories from Wednesday April 14, 1971

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

President Nixon announced five new policies toward Red China: opening direct trade, stopping controls on U.S. currency to and from China, easing travel restrictions, permitting U.S. air and ship traffic to China (if allowed by them) and lifting restrictions on U.S. oil companies against furnishing fuel for Chinese ships and planes. The new policy on direct trade is the most significant. Nixon is also thought to be considering a new policy toward admitting Communist China to the United Nations. [CBS] South Vietnamese reinforcements reached besieged Fire Base No. 6 after a 16-hour battle. American helicopters carried supplies to the base and evacuated U.S. advisers. [CBS] Five men are on their way to Vientiane, Laos, to offer themselves to North Vietnam in exchange for five American POWs. Rep. Pete McCloskey, while visiting Laos, accused the U.S. embassy of trying to keep him from viewing a report on Laotian refugees. [CBS] Twenty people were injured in rioting in Belfast, Northern Ireland, as Protestants threw bricks, bottles and Molotov cocktails at British soldiers; the rioting resulted from a Catholic gunman firing into a Protestant parade. It was the first Protestant riot since last October. [CBS] Haitian President Duvalier failed to appear for a parade honoring his birthday, increasing speculation that he is seriously ill. [CBS] Senator Edmund Muskie charged that the FBI spied on between 40 and 60 Earth Day activities last spring and he has proposed an independent board to oversee intelligence agencies. The White House says that the FBI is only watching persons with records of criminal violence. CIA director Richard Helms stated that effective intelligence is as important to world peace as it is to national security. [CBS] The American Society of Newspaper Editors believes that the use of subpoenas against the press has reached epidemic proportions, and the summons of material from CBS's "The Selling of the Pentagon" amounts to serious censorship. The editors support a bill in Congress which would prevent newsmen from being forced to reveal confidential information or sources. [CBS] The industrial production index was up 0.2% in March. [CBS] Dr. Paul Gordon revealed that the FDA is studying a drug that he discovered which can cure the common cold in 24 hours. [CBS] Mississippi Senator John Stennis is demanding that school desegregation be enforced as vigorously in the North as it is in the South; he cited Boston as an example. Boston's "open enrollment" program allows parents to transfer children to any school in the city which has a vacancy, and some white parents have transferred their children to mostly white schools. When confronted with the situation in Boston, Attorney General John Mitchell said he didn't think it was constitutional. The Department of Health, Education and Welfare is now conducting an investigation of Boston's schools. [CBS] San Francisco priest Robert Duryea was removed from the priesthood and excommunicated after it was discovered that he is married and has a 5-year-old son. [CBS] The Vatican recommended that familiar wedding music, including "Here Comes the Bride", no longer be used at Catholic weddings and suggested that standard liturgical music is better suited to marriage services. [CBS]

Stock Market Report

Dow Jones Industrial Average: 932.55 (+5.27, +0.57%)
S&P Composite: 103.37 (+0.39, +0.38%)
Arms Index: 0.57

	Issues	Volume*
Advances	804	12.26
Declines	605	5.27
Unchanged	286	1.92
Total Volume		19.45

* 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 13, 1971	927.28	102.98	23.20
April 12, 1971	926.64	102.88	19.41
April 8, 1971	920.39	102.10	17.59
April 7, 1971	918.49	101.98	22.27
April 6, 1971	912.73	101.51	19.99
April 5, 1971	905.07	100.79	16.04
April 2, 1971	903.04	100.56	14.52
April 1, 1971	903.88	100.39	13.47
March 31, 1971	904.37	100.31	17.61
March 30, 1971	903.39	100.26	15.43