News stories from Monday August 23, 1971

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

An agreement has been reached on Berlin; the Berlin Wall will be opened to West Berliners as it is for West Germans. West Berlin will be included in all West German trade agreements with Eastern Europe, the Soviet Union will open a consulate in West Berlin, and it was agreed that access to the city should be unhindered. However, West Germany is not allowed to move its capitol from Bonn to Berlin. Communists refused to guarantee that there will be no harassment of traffic. [CBS] The U.S. dollar is floating as European money markets have reopened. In London, the U.S. dollar remained firm in its first day of trading; the Nixon administration is hoping that the dollar will devalue in order to make U.S. exports cheaper and more competitive abroad. American tourists are getting more for their dollar now than they have since the President's announcement. European countries are waiting to see if Japan revalues the yen. [CBS] The steel industry is being allowed to keep its recent 8% price increase despite the price freeze. The federal home loan bank will announce its plans to hold mortgage rates down tomorrow. Texas Attorney General Crawford Martin ruled that Texas Governor Preston Smith has no authority to defy the wage freeze. [CBS] Vice President Nguyen Cao Ky announced that he won't run in the South Vietnam presidential election; U.S. Ambassador Ellsworth Bunker met with President Nguyen Van Thieu today. Ky believes that the simultaneous resignation of Thieu and himself would solve the present crisis. Thieu is now the only candidate on the ballot. Nixon administration officials fear a coup attempt against the Thieu government, which could undercut the American people's support for the Vietnam war. [CBS] South Vietnamese patrols found 76 enemy soldiers who had been killed by U.S. bombing raids near the DMZ. [CBS] 23 South Korean prisoners killed 12 officials at an island prison, stole a boat and then a bus. The bus ran into a tree; prisoners blew up the bus when they found themselves surrounded. 15 prisoners were killed. [CBS] President Ferdinand Marcos of the Philippines stated that "a foreign government" is aiding rebels in their attempt to overthrow his government, and warned that he'll jail anyone without a trial. [CBS] Right-wing rebel forces defeated student supporters of Bolivian President Juan Torres in La Paz. [CBS] The Selective Service System announced that physical exams will begin on September 1 for those with lottery numbers 1-50. [CBS] Col. Oran Henderson's trial for the alleged cover-up of the My Lai massacre has begun at Fort Meade, Maryland. Prosecution witness General Andy Lipscomb called Henderson a top-flight officer. Defense attorney Henry Rothblatt said that Henderson's actions at the time of My Lai shouldn't be second-guessed three years later. [CBS] California is looking for Stephen Mitchell Bingham, who visited San Quentin prison inmate George Jackson shortly before Saturday's fatal shootout. [CBS] A House Internal Security Committee report states that the Black Panthers have never presented a "clear and present danger" to America. [CBS] The Campbell Soup Company has yet to locate one-third of possibly contaminated chicken vegetable soup cans that were shipped to 16 states. [CBS] The federal government is x-raying coal miners for black lung disease; of 4,000 x-rayed, 40% have signs of the disease. A miners group from Kentucky went to federal court to force the government to use other means to detect the disease. [CBS] Robert F. Kennedy, Jr. was arrested for loitering and was fined $50 after calling the charges lies and pleading no contest. [CBS] British Parliament member Bernadette Devlin gave birth to a girl; she refused to name the father. [CBS]

Stock Market Report

Dow Jones Industrial Average: 892.38 (+11.47, +1.30%)
S&P Composite: 99.34 (+1.01, +1.03%)
Arms Index: 0.78

	Issues	Volume*
Advances	917	8.52
Declines	474	3.43
Unchanged	264	1.10
Total Volume		13.05

* 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 20, 1971	880.91	98.33	11.89
August 19, 1971	880.77	98.16	14.19
August 18, 1971	886.17	98.60	20.68
August 17, 1971	899.90	99.99	26.79
August 16, 1971	888.95	98.76	31.72
August 13, 1971	856.02	95.69	9.96
August 12, 1971	859.01	96.00	15.91
August 11, 1971	846.38	94.66	11.37
August 10, 1971	839.59	93.54	9.46
August 9, 1971	842.65	93.53	8.11