News stories from Thursday July 22, 1971

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

General Gaafar Mohammed Al-Nimeiry has regained power in a counter-coup in the Sudan, and he broadcast an appeal for the arrest of all Communists. Coup leader Babakr Al-Nur Osman never reached Sudan on his return trip from London, and is now interned in Libya; Libya arrested him after forcing the BOAC plane on which he was a passenger to land in Benghazi. Sudan's ambassador to England, Sayad Abdin Ismael, said that the removal of Al-Nur Osman from the plane was unprecedented air piracy by the Libyan government.An airplane carrying Iraqi officials to the Sudan crashed in Saudi Arabia. [CBS] Jordan released most of the captured Palestinian guerrillas. Some of the guerrillas will be tried, then expelled from the country. [CBS] Egypt announced that former Vice President Aly Sabry, War Minister Mohammed Fawzi and Interior Minister Sharawy Guma will be tried for treason. [CBS] The United Methodist Church Board of Christian Social Concerns charges that National Guardsmen conspired in advance to shoot students at Kent State University. The group issued a report charging that 8-10 Guardsmen planned the shootings. A spokesman said that the Guardsmen involved are guilty of murder, but not all who fired are guilty. The report was first submitted privately to the Justice Department in order to prod grand jury hearings. [CBS] A man using the alias "George White" gave a Senate committee more information pertaining to underworld influence in business, saying that the influence is so pervasive that it underpins the U.S. economy. He named two Massachusetts judges who accepted bribes. [CBS] The national convention of the Elks voted against deleting the words "whites only" from its membership requirements, but gave the grand exalted ruler the power to suspend the requirement if courts order it. [CBS] Communist negotiators said that their demand for unconditional U.S. withdrawal from South Vietnam is not negotiable. [CBS] The wives of POWs shouted down John Kerry, the spokesman for Vietnam Vets Against the War, at a Washington, DC news conference. The wives charged that he's using the prisoners of war issue to further his political career. [CBS] Defense Secretary Melvin Laird warned that the armed forces will have personnel shortages if a new draft law is not passed by September. [CBS] The UTU reached a tentative agreement with the Chicago and Northwest Railway Company. The agreement gives workers a 42% wage increase over 42 months, and new work rules were agreed upon. The railroad industry is expected to take the UTU to court on the grounds that there should be one national settlement. [CBS] Senator Abraham Ribicoff said that the federal government could eliminate poverty by simply giving cash to the poor; he pointed out that if the $31 billion allocated for poverty programs was handed out directly, every poor family would receive $4,800 per year. [CBS] Senator Edward Kennedy last week accused the American Medical Association of having a stranglehold on the Nixon administration's health programs. American Medical Association lobbyist Harry Hinton said that if Senator Kennedy wants every American physician to leave the Democratic party, he's going about it the right way. [CBS] The Navy is equipping the Apollo 15 recovery team with a new weapon for use against sharks. [CBS] Residents in Morehead, Kentucky, have begun returning to their homes as the water level is receding from a dam which was threatened by heavy rains. [CBS] The government is asking that sick horses anywhere in the U.S. be reported, in an attempt to control the sleeping sickness epidemic. [CBS] At least two men remember when the Chinese revolution produced cries of treason in America. John Davies and John Stewart Service were questioned yesterday at a Senate committee hearing about Mao Tse-tung's and Chou En-lai's request to see President Roosevelt in 1945. Davies' and Service's political careers were ruined during the McCarthy era, with help from Richard Nixon. Now President Nixon is beginning to restore contacts with China. [CBS]

Stock Market Report

Dow Jones Industrial Average: 886.68 (-4.16, -0.47%)
S&P Composite: 99.11 (-0.17, -0.17%)
Arms Index: 1.00

	Issues	Volume*
Advances	518	3.96
Declines	794	6.05
Unchanged	346	2.57
Total Volume		12.58

* 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 21, 1971	890.84	99.28	11.92
July 20, 1971	892.30	99.32	12.54
July 19, 1971	886.39	98.93	11.43
July 16, 1971	888.51	99.11	13.87
July 15, 1971	888.87	99.28	13.08
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