News stories from Friday April 30, 1971

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

Environmental Protection Agency director William Ruckelshaus has announced new air pollution rules. Health standards are now set for major pollutants; those standards must be met by 1975, but states must file plans by January 1, 1972. Ruckelshaus said that cities will have to change traffic patterns and use more public transportation; work hours may need to be staggered. Ruckelshaus will meet with auto industry representatives next week regarding the deadline for a pollution-free car. [CBS] A federal grand jury revamped the government's case against the "Harrisburg 7". The Justice Department added new charges but reduced the severity of the major charge from conspiracy to kidnap, down to just conspiracy. Reverend Daniel Berrigan has been dropped as a co-conspirator, and the maximum possible penalty for the defendants was reduced from a life sentence to five years in prison. [CBS] Attorney General John Mitchell has complained of a sharp erosion of professionalism in news reporting. But the FCC says that the propriety of editing and the accuracy of CBS's "The Selling of the Pentagon" are not proper matters for government inquiry. The FCC did ask CBS to reply to complaints that it violated the Fairness Doctrine; CBS refused to comply with a second Senate committee subpoena for the material used in preparation of the documentary. [CBS] At Camp Pendleton, California, President Nixon welcomed the first U.S. Marine Division home from Vietnam. The ceremonies were designed as a symbol of America's sacrifices by her sons and the ending of U.S. involvement in Vietnam. The President said that the question remains whether the war can be ended in such a way that South Vietnam is able to defend itself against Communist takeover. [CBS] U.S. bombers continued heavy strikes in northern South Vietnam. [CBS] Sisowath Sirik Matak refused to accept the post of Premier of Cambodia; the Chief of State offered the position to Chuop Hell. [CBS] Deputy Attorney General Richard Kleindienst declared that 7,200 police and National Guardsmen are ready for the antiwar protesters who plan to shut down the federal government on Monday. Today, 2,000 demonstrators sat down in front of the Justice Department building; 335 were arrested. [CBS] Capitol bombing material witness Leslie Bacon was flown to Seattle to testify before a grand jury. The jury is attempting to prove that the bombing of the Capitol building was planned in Seattle. Bacon's attorney decided that it was in her best interest to appear before the jury, though the attorney said that it's unclear whether Bacon is considered to be a material witness or a suspect. [CBS] Senator William Proxmire accused the Pentagon and Senator Henry Jackson of scaring up support for a larger weapons' budget. [CBS] Secretary of State William Rogers said that reopening the Suez Canal could reduce the possibility of renewed fighting in the Middle East. [CBS] The Agriculture Department will spend $85,000 to help farmers eliminate wild marijuana plants in the Midwest. [CBS] A grand jury in Chicago has indicted four persons on charges of embezzling $7 million from the Cosmopolitan National Bank. [CBS] Lockheed Aircraft Corporation chairman Daniel Haughton cut his own salary 25% due to the company's financial trouble; other executives also took cuts. 31,000 pay raises have been deferred. [CBS] The Air Force has grounded all F-111 jet fighters after the 18th crash of an F-111. [CBS] A federal appellate court approved Amtrak's takeover of national railroad passenger service; Congress' moves to delay the takeover failed.Amtrak is considering extending routes through Cleveland and Toledo, Ohio. [CBS] Pollster Elmo Roper has died at age 70. [CBS] Sgt. Dwight Johnson was presented the Medal of Honor in 1968. Johnson entered a military hospital last fall for psychiatric consultation and treatment of an ulcer; Johnson attempted to rob a store last night in Detroit and was fatally shot by the store manager. [CBS] Air Force Sgt. Rogers Mobley was stabbed to death at a Berkeley, California, recruiting station. [CBS] The diplomatic stalemate in Indochina remains; the war situation is changing as U.S. forces withdraw and troop morale worsens. South Vietnam's military capability and North Vietnam's will to continue are uncertain factors. The Vietnam war is becoming more of a domestic problem than a foreign problem for the Nixon administration. The Soviet Union may gamble more boldly in the Middle East because of American war weariness. [CBS]

Stock Market Report

Dow Jones Industrial Average: 941.75 (-6.40, -0.67%)
S&P Composite: 103.95 (-0.68, -0.65%)
Arms Index: 1.05

	Issues	Volume*
Advances	441	4.74
Declines	964	10.91
Unchanged	284	1.84
Total Volume		17.49

* 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 29, 1971	948.15	104.63	20.34
April 28, 1971	950.82	104.77	24.82
April 27, 1971	947.09	104.39	21.25
April 26, 1971	944.00	103.94	18.86
April 23, 1971	947.79	104.05	20.15
April 22, 1971	940.63	103.56	19.27
April 21, 1971	941.33	103.36	17.04
April 20, 1971	944.42	103.61	17.88
April 19, 1971	948.85	104.01	17.73
April 16, 1971	940.21	103.49	18.28