News stories from Tuesday June 1, 1971

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

A girl who was held hostage for 51 hours has been freed in Kartal, Turkey. Police entered a house where two men, wanted for the murder of an Israeli diplomat, were holding the 14-year-old girl hostage. One of the men was killed. [CBS] Heavy fighting was reported near Phnom Penh, Cambodia; U.S. planes bombed enemy forces around Snoul, Cambodia, following South Vietnam's withdrawal from the town yesterday. [CBS] Pro-Nixon Vietnam veterans rallied in Washington, DC; the Vietnam Veterans for a Just Peace held a news conference, Lt. John O'Neill said that Vietnam Veterans Against the War spokesman John Kerry speaks for only 1,000 out of 2 ½ million Vietnam veterans; O'Neill believes that the administration's Vietnamization policy will achieve the goal of self-determination for South Vietnam.One anti-war group helped repair damage to Washington, DC that was done during antiwar demonstrations last month, Mennonite church members are rebuilding park benches and other items which were destroyed during demonstrations; Mennonites are against the war. A national park ranger said that the Mennonites are enthusiastic workers. [CBS] A group of relatives of POWs and MIAs has returned from Europe. Mrs. Joan Vinson said that she believes the handling of POWs could be solved by minor moves on both sides, and confirmed that North Vietnam won't release American POWs until a date for U.S. withdrawal is set; she hopes that President Nixon has a plan for ending the war soon.This was the first time that the group's leadership has criticized the administration. [CBS] The White House reported that President Nixon believes the aluminum industry's 30% wage increase creates a serious problem for America. [CBS] The Supreme Court ruled that courts may issue anti-strike injunctions if railroad or airline unions fail to make reasonable efforts to reach settlements. A tie vote in the court defeated the case of a man who was trying to regain his job after being fired; he refused overtime Sunday work due to his religious beliefs. [CBS] The Swedish press reported that Israeli Prime Minister Golda Meir took part in secret talks with Soviet officials in Finland over the weekend; Meir denied the report. [CBS] The White House announced that Cuba will release the hijacked Pan Am plane tomorrow. [CBS] The Nixon administration's revenue sharing plan has been launched in Congress. Rep. Gerald Ford says that House Ways and Means Committee chairman Wilbur Mills intends to kill the President's revenue sharing plan, so governors and mayors must influence the committee. [CBS] The federal government will not allow industries to dump wastes into rivers or lakes after July 1 without a permit; the government will issue no permits to dump waste into Lake Michigan from Cook County, Illinois, or Lake County, Indiana. [CBS] The National Transportation Council safety board recommended that interstate buses provide seat belts and stronger ceilings. [CBS] The federal government will have orange growers and canners meet with the FDA to determine the percentage of orange content in orange drink. [CBS]

Stock Market Report

Dow Jones Industrial Average: 913.65 (+5.84, +0.64%)
S&P Composite: 100.20 (+0.57, +0.57%)
Arms Index: 0.75

	Issues	Volume*
Advances	857	7.29
Declines	517	3.32
Unchanged	280	1.32
Total Volume		11.93

* 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*
May 28, 1971	907.81	99.63	11.76
May 27, 1971	905.78	99.40	12.61
May 26, 1971	906.41	99.59	13.55
May 25, 1971	906.69	99.47	16.05
May 24, 1971	913.15	100.13	12.06
May 21, 1971	921.87	100.99	12.09
May 20, 1971	923.41	101.31	13.34
May 19, 1971	920.04	101.07	11.74
May 18, 1971	918.56	100.83	17.64
May 17, 1971	921.30	100.69	15.98