News stories from Wednesday August 25, 1971

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

54 countries have agreed to accept the new 10% U.S. surcharge on imports without retaliation. [CBS] Ford Motor Company reported that sales were up 16.5% over this period last year; General Motors, American Motors and Chrysler Corporation reported declines in August sales. Volkswagen announced a 6.5% price increase for cars sold in the United States. [CBS] The Office of Emergency Preparedness received a complaint about an increase in the price of marijuana. [CBS] President Nguyen Van Thieu said that the South Vietnam presidential election will take place even without any opponent on the ballot. Thieu reportedly ordered Vice President Nguyen Cao Ky's name to remain on the ballot despite Ky's objections, and said that the election will take place as scheduled unless the South Vietnam Supreme Court rules otherwise.American soldiers have been ordered off the streets of Saigon due to rumors of a possible coup against Thieu's government; restrictions on soldiers will continue indefinitely. [CBS] An ammo dump at Cam Ranh Bay, South Vietnam, blew up; Communists shelled five U.S. bases. [CBS] Capt. Ernest Medina's trial continues. Witness Frederick Widmer took the fifth amendment; Gerald Heming testified that two South Vietnamese civilians were shot in Medina's presence, but Calvin Hawkins said that he saw no one shot in Medina's presence. [CBS] A witness testified that Col. Oran Henderson made no real effort to find out what happened at My Lai. [CBS] A bomb exploded at the Belfast, Northern Ireland, electricity board headquarters; one person was killed and 32 were injured. [CBS] The number of families on welfare went down by 16,000 for May; 30% of welfare checks in New York City have gone unclaimed because of a new rule which requires recipients to pick up the checks in person. [CBS] The Chicago Bar Association wants Illinois state's attorney Edward Hanrahan to take a leave of absence while awaiting trial for allegedly obstructing justice in connection with the 1969 police raid on Black Panther headquarters. [CBS] It was announced that astronaut Alan Shepard will be promoted to Rear Admiral; astronaut Neil Armstrong will become an engineering professor at the University of Cincinnati. [CBS] Limestone County. Alabama, has decided to obey a federal court rather than Governor George Wallace in closing a junior high school. A judge rescinded the busing order for Norfolk, Virginia, due to the price freeze. [CBS] Mississippi Democrats choose William Waller as their candidate to oppose independent candidate Charles Evers for governor; no Republican candidate is running. Waller said that he defeated the lieutenant governor in the primary because the current governor is not responsive to the needs of the people. Evers said that he prefers to be defeated by Waller than some other nominee. [CBS] Bandleader Ted Lewis died at age 81; his trademark was asking, "Is everybody happy?" [CBS] Washington, DC police are not allowing those who park cars in the wrong places to move them. Police are applying locks to the wheels of cars whose owners have parked in a no- parking zone and have a record of not paying parking tickets. Police say that "wheel boots" are being used because the city has ¼ million outstanding tickets. [CBS]

Stock Market Report

Dow Jones Industrial Average: 908.37 (+4.24, +0.47%)
S&P Composite: 100.41 (+0.01, +0.01%)
Arms Index: 1.11

	Issues	Volume*
Advances	842	9.08
Declines	598	7.18
Unchanged	267	2.03
Total Volume		18.29

* 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 24, 1971	904.13	100.40	18.70
August 23, 1971	892.38	99.34	13.04
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