News stories from Thursday July 15, 1971

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

U.S. Paris Peace Talks negotiator David Bruce called for a cease-fire in Indochina pending clarification of the Communist's peace proposal. Communist delegates charged that the U.S. is stalling for time. [CBS] South Vietnamese forces withdrew from the Parrot's Beak area of Cambodia and encountered little enemy resistance. [CBS] General Duong Van Minh charged that the upcoming South Vietnamese presidential election won't be fair due to President Nguyen Van Thieu's repressive tactics. [CBS] The sleeping sickness which is killing horses in Texas is also prevalent in Mexico. 600 people and 3,000 horses have sleeping sickness in Tamaulipas, Mexico. Mexican President Luis Alvarez is calling for a meeting of U.S. and Mexican officials to coordinate the battle against sleeping sickness. All Texas horses are under quarantine, including Ringling Brothers circus horses. [CBS] The House Foreign Affairs Committee voted to halt military assistance to Greece and Pakistan. Aid will be resumed when the Greek government allows the return of constitutional government through free elections. When Pakistan restores normal relations with East Pakistan and allows refugees to return from India, aid will resume there. [CBS] Police broke up a three-day hunger strike by Soviet Jews near the Kremlin; the Jews were demanding permission to emigrate to Israel. [CBS] The Selective Service System will conduct a draft lottery on August 5, even if the draft extension bill is not passed by Congress before then. [CBS] The United Transportation Union will strike the Union Pacific and Southern railroads tomorrow. Contract talks between the CWA and telephone companies continued today in the communications workers' strike.The Illinois Bell Telephone company's garage in Elgin, Illinois, was firebombed; two members of the International Brotherhood of Electrical Workers were arrested for cutting telephone lines. Illinois Bell insists that it will not continue negotiations until criminal acts are halted by the union. A union spokesman said that he has told workers to remain calm; workers are inflamed because they claim they are not earning as much as they deserve. [CBS] Treasury Secretary John Connally stated that the U.S. economy is recovering from last year's recession. [CBS] The Federal Reserve Board raised the discount rate to 5%. [CBS] Senator Harold Hughes is the first casualty among contenders for the 1972 Democratic presidential nomination. Hughes said that his effectiveness in the Senate was being hampered by his undeclared candidacy. Hughes added that he doesn't think his decision will affect the other candidates, and he hasn't told his campaign staff to endorse any other candidate.Hughes reportedly did recommend that his staff support Senator George McGovern. [CBS] The Senate voted to continue price supports for tobacco, and defeated an amendment to limit subsidy payments to farmers to $20,000 for crops. [CBS] Georgia Governor Jimmy Carter testified that heroin addiction is rampant in the South. [CBS] A poll indicates that one-third of California residents want to move elsewhere due to overcrowding and pollution. [CBS] President Nixon will speak on nationwide radio and television tonight to make a "major statement". [CBS] Daniel Ellsberg appeared in a Boston courtroom as lawyers attempted to block his extradition to California. The Justice Department is attempting to obtain an indictment against the New York Times' Neil Sheehan, who received the Pentagon Papers from Ellsberg. [CBS]

Stock Market Report

Dow Jones Industrial Average: 888.87 (-2.34, -0.26%)
S&P Composite: 99.28 (+0.06, +0.06%)
Arms Index: 1.33

	Issues	Volume*
Advances	758	5.47
Declines	575	5.51
Unchanged	320	2.11
Total Volume		13.09

* 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 14, 1971	891.21	99.22	14.36
July 13, 1971	892.38	99.50	13.54
July 12, 1971	903.40	100.82	12.02
July 9, 1971	901.80	100.69	12.64
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