News stories from Friday July 9, 1971

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

Bantam Books released a paperback edition of the Pentagon Papers. The Pentagon Papers are available at the Pentagon bookstore for $2.34, despite still being classified as top secret. Daniel Ellsberg claims that the Joint Chiefs of Staff withheld a study on the Gulf of Tonkin incident from Defense Secretary Robert McNamara during the Johnson administration. [CBS] The amounts of U.S. aid to various foreign countries have been revealed; Greece is getting $117 million this year, the first time since 1967 that any U.S. aid has been supplied to Greece. [CBS] Rep. Pete McCloskey announced that he will challenge President Nixon in the 1972 presidential primaries. McCloskey said that Nixon's policy of killing Vietnamese civilians to protect American pride and prestige is unacceptable, and he intends to enter the New Hampshire and California primaries if the Vietnam war continues. [CBS] Wholesale prices were up 0.4% for June. [CBS] Rolls-Royce increased its car price by almost $2,400; a Rolls-Royce now costs over $24,000. [CBS] Rep. Robert Steele charged that South Vietnam Major General Ngo Dzu with being involved in drug traffic; Ngo Dzu said that he has never been involved in heroin traffic and asked Steele to confirm his charges because the honor of South Vietnam and the South Vietnamese army has been challenged. Steele claims that his charges are based on "hard intelligence". [CBS] Dr. Jerome Jaffe arrived in South Vietnam to study the military drug problem, and said that the problem is not as bad as the worst reports indicated. [CBS] Assistant Treasury Secretary Eugene Rossides testified before a House committee on international drug traffic, and reported that before Turkey's ban on poppy crops takes effect, two more harvests will be made, which may result in 3-4 more years of raw material for heroin. [CBS] Fire Base Charlie 2, the last American base in northern South Vietnam, was turned over to South Vietnamese forces; North Vietnamese Defense Minister Vu Van Giai asked how the U.S. can hope that the Vietnamization program will succeed when even the U.S. Army was unable to win the war. [CBS] Rioting today resulted in deaths in Londonderry, Northern Ireland. Two civilians were killed, one was seriously wounded and over 20 were injured in a riot where youths threw chunks of pavement at British soldiers; soldiers used rubber bullets and tear gas on the rioters. [CBS] Chile was hit by an earthquake; 81 are known dead. Valparaiso is among the cities that were hardest hit. [CBS] An attempted bank robbery turned into a bigger drama in Minneapolis. Two of the robbers were captured after a chase, but the other two holed up in a house with a grandmother and her granddaughter as hostages. One of the two bandits surrendered and the granddaughter has been released; the other robber is demanding a plane to Algeria and continues to hold the grandmother hostage in her house. [CBS] In Cleveland, 40 policemen and their families marched to city hall to protest police layoffs. Cleveland Mayor Carl Stokes blamed voters' rejection of tax increases for cutbacks in personnel and services; 193 policemen have been laid off. [CBS] Jewish Defense League head Rabbi Meir Kahane pleaded guilty to charges of conspiracy in manufacturing bombs; his sentence could be five years and a $10,000 fine. [CBS] The Nixon administration endorsed the increased cost of hunting stamps, which are required for hunting ducks and geese, as a way of saving the birds. [CBS] It was announced that singer Jim Morrison of "The Doors" rock group, who died six days ago in Paris, had either a heart attack or pneumonia. [CBS] Jazz trumpeter Louis Armstrong's funeral was held in New York City today. [CBS]

Stock Market Report

Dow Jones Industrial Average: 901.80 (+0.81, +0.09%)
S&P Composite: 100.69 (+0.35, +0.35%)
Arms Index: 0.83

	Issues	Volume*
Advances	755	6.65
Declines	607	4.45
Unchanged	306	1.55
Total Volume		12.65

* 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*
July 8, 1971	900.99	100.34	13.92
July 7, 1971	895.88	100.04	14.52
July 6, 1971	892.30	99.76	10.44
July 2, 1971	890.19	99.78	9.96
July 1, 1971	893.03	99.78	13.09
June 30, 1971	891.14	99.70	15.41
June 29, 1971	882.30	98.82	14.46
June 28, 1971	873.10	97.74	9.81
June 25, 1971	876.68	97.99	10.58
June 24, 1971	877.26	98.17	11.36