News stories from Friday June 25, 1971

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

The Supreme Court agreed to hear the case involving the New York Times and Washington Post's publication of a classified Pentagon report. A hearing will be held tomorrow. The court ruled that neither newspaper can print any documents which the government believes could damage national security before tomorrow's hearing.The Chicago Sun-Times reported that the CIA told President Nixon in 1969 that the U.S. could withdraw from the Vietnam war and southeast Asia would remain as it is for another generation. [CBS] At Capt. Ernest Medina's pre-trial hearing, Judge Kenneth Howard denied F. Lee Bailey's motions. Bailey said that he was not surprised by the judge's decision. Medina says that he wants to get on with the trial and he believes he will be found innocent. The government will obtain testimony from two South Vietnamese sergeants in exchange for forgoing a sentence of capital punishment for them. [CBS] South Vietnamese forces recaptured Fire Base Fuller, then abandoned it. UPI reports that an American base near Khe Sanh, which had equipment to monitor enemy troop movements, was overrun earlier in the month. American soldiers in the Mekong Delta are confined to bases during a crackdown on drug usage. [CBS] The Pentagon issued a July-August draft call of 16,000. [CBS] The Pentagon is setting up an education program on race relations that will be mandatory for every member of the armed forces beginning in October. [CBS] Newly elected Prime Minister Dom Mintoff of Malta ousted the commander of NATO's Mediterranean naval forces. [CBS] The Senate Appropriations Committee voted to end the airlift of Cuban refugees to the United States. The State Department hopes that other funds can be found to continue the airlift. [CBS] Senator Harold Hughes toured Harlem today to learn about the heroin problem. After leaving a hospital, a 16-year-old boy handed Hughes some heroin he had just purchased. Hughes also viewed a basement where heroin was supposedly used. [CBS] President Nixon pledged help in improving nursing homes, saying that many nursing homes are just warehouses for the unwanted. He doesn't think that Medicare funds should be used to subsidize substandard nursing homes. [CBS] At the Young Republicans convention in Phoenix, moderates lost out to rightists in a struggle for control of the organization. Senator Barry Goldwater spoke at the convention and pointed out that every war which has involved America started with a Democrat president and ended with a Republican president. [CBS] George McGovern denied Barry Goldwater's charge of his being silent on the Vietnam war during Democratic administrations. McGovern claims that he first spoke out against the war in 1963. [CBS] A federal judge ordered a hearing for former Pentagon cost analyst Ernest Fitzgerald. Fitzgerald claims that he was fired for exposing cost overruns of the C-5A transport plane. [CBS] One thousand people had to evacuate their homes in Imperial, California, because of a cloud of toxic fumes from an airport fire. [CBS]

Stock Market Report

Dow Jones Industrial Average: 876.68 (-0.58, -0.07%)
S&P Composite: 97.99 (-0.18, -0.18%)
Arms Index: 1.43

	Issues	Volume*
Advances	597	3.47
Declines	709	5.89
Unchanged	328	1.23
Total Volume		10.59

* 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*
June 24, 1971	877.26	98.17	11.36
June 23, 1971	879.45	98.41	12.64
June 22, 1971	874.42	97.59	15.20
June 21, 1971	876.53	97.87	16.49
June 18, 1971	889.16	98.97	15.04
June 17, 1971	906.25	100.50	13.98
June 16, 1971	908.59	100.52	14.30
June 15, 1971	907.20	100.32	13.55
June 14, 1971	907.71	100.22	11.53
June 11, 1971	916.47	101.07	12.27