News stories from Tuesday August 10, 1971

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

At least 16 people are dead following two days of fighting between Catholics and Protestants in Northern Ireland. Fire destroyed 200 homes in the Ardoyne section of Belfast after Protestants set fire to their own homes after Catholics threatened to take over the houses. [CBS] The Russian newspaper Pravda reported that it welcomes a dialogue between the U.S. and China, but warned that U.S.-Soviet negotiations could be jeopardized by backstage intrigue between America and China. [CBS] U.S. ambassador to South Vietnam Ellsworth Bunker met with President Nixon and discussed the ramifications of the President's trip to China on South Vietnam and the South Vietnamese elections; Nixon and Bunker are reportedly worried about the possibility of South Vietnam President Nguyen Van Thieu's unopposed re-election. Sources in Saigon reported that the United States will re-assess its support of South Vietnam if President Thieu is re-elected without opposition; Thieu sent a bill to South Vietnam's National Assembly to impose stiff penalties for selling, importing or hoarding illegal drugs. [CBS] Senator Henry Jackson said that left-wing absolutists have turned their backs on the working man. In New York City, Jackson said that leftists denounce "law and order" as code words for racism and repression; they fail to notice that minority groups are the prime victims of violent crime and also fail to note the repression of people who are afraid to walk the streets. Jackson said that liberal Democrat politicians are alienating the traditional electoral base for liberal Democrat victories. Jackson views himself as a liberal Democrat who is not soft on law and order. [CBS] The White House said that taxpayers will pay for President Nixon's trip to Maine and New Hampshire last week because it was non-political. [CBS] The U.S. Postal Service will raise the rate of third class mail one cent per piece next month; the new rate is five cents per piece. [CBS] A "red tide" continues to kill fish on the west coast of Florida. At Tampa Bay, workers have cleaned some of the 5,000 tons of dead fish from the water and beaches. Biologist Karen Steidinger said that the red tide may be related to land runoff from heavy rains adding nutrients to sea water. Cleanup is expected to cost over $1 million. [CBS] Former Jersey City, N.J., Mayor Thomas Whelan has been sentenced to 15 years in prison for misbehavior in office. [CBS] Because of the mistrial that was declared on Sunday, Black Panther Huey Newton will be tried a third time for killing a policeman. [CBS] Senator Edward Kennedy toured East Pakistani refugee camps near Calcutta, India; the government of Pakistan canceled Kennedy's visa to visit that country. [CBS] British and Belgian airline pilots charged that the West German air force uses commercial airliners as targets in their attack maneuvers; West Germany's defense ministry denied the charges. [CBS] FAA administrator John Shaffer requested that television stations not show the movie "Doomsday Flight"; in the movie, an anonymous telephone caller warns of a bomb on a plane in order to extort ransom. [CBS]

Stock Market Report

Dow Jones Industrial Average: 839.59 (-3.06, -0.36%)
S&P Composite: 93.54 (+0.01, +0.01%)
Arms Index: 0.97

	Issues	Volume*
Advances	558	3.53
Declines	733	4.48
Unchanged	335	1.46
Total Volume		9.47

* 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*
August 9, 1971	842.65	93.53	8.11
August 6, 1971	850.61	94.25	9.49
August 5, 1971	849.45	94.09	12.10
August 4, 1971	844.92	93.89	15.41
August 3, 1971	850.03	94.51	12.49
August 2, 1971	864.92	95.96	11.87
July 30, 1971	858.43	95.58	12.97
July 29, 1971	861.42	96.03	14.57
July 28, 1971	872.01	97.07	13.94
July 27, 1971	880.70	97.78	11.56