News stories from Tuesday September 7, 1971

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

More busing of students began as schools opened. In Pontiac, Michigan, police arrested nine women who chained themselves to a fence surrounding the bus parking lot; 9,000 children were bused anyway, though a bomb threat forced the evacuation of one school. The voluntary busing plan in Jackson, Mississippi began without incident; anti-busing sentiment is strong in Boston, Massachusetts. [CBS] President Nixon will ask Congress for economic reforms on Thursday. His speech will stress a 10% investment tax break for business, a repeal of the 7% car sales tax, and income tax breaks. The President will emphasize that the new policy doesn't favor big business over working people in the long run.The Cost of Living Council met with six corporations which raised their dividends since the freeze began; economic adviser Paul McCracken said that the corporations have agreed to cooperate with the economic program. [CBS] President Nixon named Secretary of State William Rogers to head a committee to control international narcotics traffic. [CBS] For the first time since September 2, 1965, the Pentagon published no list of soldiers who were killed in Vietnam, because there were no deaths to report. A U.S. artillery team reopened Fire Base Vandergrift near the DMZ. [CBS] An assassination attempt against U.S. Ambassador to Cambodia, Emory Swank, failed. [CBS] Seven people were killed when a television tower collapsed in Shoreview, Minnesota. The seven victims were employees of the company which was building the tower; the cause of the collapse is unknown. [CBS] Talks between British Prime Minister Edward Heath and Irish Prime Minister John Lynch concerning the situation in Northern Ireland ended with no agreement reached. [CBS] Secretary of State Rogers has ordered American embassies not to discuss, analyze or speculate about President Nixon's China trip; the order prevents foreign governments from giving the U.S. their opinion of the trip. Some officials are reportedly unhappy with the order. [CBS] The Soviet Union is proposing that the United Nations call a world disarmament conference. Communist party leader Leonid Brezhnev will visit Yugoslavia, President Nikolai Podgorny will visit North Vietnam, and Prime Minister Aleksei Kosygin will visit Algeria, Norway, Denmark and Canada by the end of the year. The Soviets have invited West German Chancellor Willy Brandt for discussions on arms reductions. [CBS] Yemen Premier Hassan Al-Amri was insulted by a photographer after dialing a wrong telephone number; Amri had the photographer shot. Amri has been forced into exile in Lebanon, and he resigned as Premier. [CBS] Congress reconvenes tomorrow to face new problems. The Democrat-controlled Congress can do little to alter President Nixon's plans for his trip to China or his new economic policy; an improved economic situation will help Nixon politically. The Committee for an Effective Congress reports that a liberal majority is forming in the House. [CBS]

Stock Market Report

Dow Jones Industrial Average: 916.47 (+3.72, +0.41%)
S&P Composite: 101.15 (+0.46, +0.46%)
Arms Index: 1.01

	Issues	Volume*
Advances	989	10.48
Declines	468	5.02
Unchanged	249	1.59
Total Volume		17.09

* 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*
September 3, 1971	912.75	100.69	14.04
September 2, 1971	900.63	99.29	10.69
September 1, 1971	899.02	99.07	10.77
August 31, 1971	898.07	99.03	10.43
August 30, 1971	901.43	99.52	11.14
August 27, 1971	908.15	100.48	12.49
August 26, 1971	906.10	100.24	13.99
August 25, 1971	908.37	100.41	18.28
August 24, 1971	904.13	100.40	18.70
August 23, 1971	892.38	99.34	13.04