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Tuesday September 21, 1971
. . . where the 1970s live forever!

News stories from Tuesday September 21, 1971


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

  • The Senate shut off a filibuster of the draft extension bill, then passed the bill 55-30. Senator John Stennis organized a two-thirds majority to end the filibuster; the cloture vote was 61-30. [CBS]
  • There are new developments in the investigation of the San Quentin prison shootout. It was originally believed that inmate George Jackson shot from a prison tower but an autopsy casts doubt on the official explanation. The coroner said that the bullet entered Jackson's back and came out through the skull. Warden Louis Nelson sees no inconsistency because Jackson was reportedly running in a crouched position. [CBS]
  • A riot by 250 inmates in a New Orleans prison was quelled without serious injuries. [CBS]
  • New York State corrections commissioner Russell Oswald was interviewed today and said he negotiated with the inmates because he believed that all of the hostages could be saved; an agreement was close until the inmates demanded complete amnesty. Oswald decided to attack because of fear for the hostages and some inmates; there would have been more deaths if tear gas and restraint hadn't been used.

    Oswald doesn't think his job is in jeopardy as result of his handling of the Attica rebellion; mail is running 50 to 1 in favor of the action he took. [CBS]

  • There are rumors that Chinese Communist party Chairman Mao Tse-tung is dead or dying. Preparations for an October 1 parade have been canceled, plane flights over China were suspended for three days last week, and Premier Chou En-lai is suddenly unavailable for public functions. If Mao is dead, it will result in a period of uncertainty in China. Mao has been ill for a long time; if he is dead, army chief Lin Piao is expected to run the country along with Chou. It is unlikely that Mao's death would affect President Nixon's trip.

    Heart specialist Dr. Paul White is in Peking; friends say he's there only as a tourist. [CBS]

  • The 26th session of the United Nations began today; U.N. president Adam Malik warned that the organization is close to bankruptcy. The U.S. still expects to get Japan to co-sponsor its "Two Chinas" proposal, despite Japan's prior refusal. [CBS]
  • U.S. planes bombed enemy military positions in North Vietnam; the raids were the largest on North Vietnam in three years. [CBS]
  • Demonstrations against President Nguyen Van Thieu's unopposed candidacy continue in Saigon, South Vietnam; a terrorist bombing was reported. [CBS]
  • U.S. command announced that soldiers in South Vietnam are subject to surprise medical tests four times per year to determine if they are using drugs. [CBS]
  • A witness at Col. Oran Henderson's trial testified concerning Henderson's letter to General Samuel Koster in which he denied that civilians were killed at My Lai. [CBS]
  • The Defense Department delivered a censored, declassified version of the Pentagon Papers to Congress; the papers will be published. [CBS]
  • A U.S. district judge issued a temporary injunction against the construction of an inland barge canal between the Tennessee and Tombigbee rivers until the Army Corps of Engineers proves that the canal won't harm the surrounding environment. [CBS]
  • The House will vote on a constitutional amendment to permit prayer in schools; passage appears certain. [CBS]
  • The House Ways and Means Committee approved a 7% tax credit for business, retroactive to March 31. [CBS]
  • President Nixon met with consumer representatives today; consumer leaders said that the wage-price freeze is inadequate and called for the President to unfreeze lower-income wages. They fear that the price freeze may cause producers to cut quality, and asked for profits, dividends and interest controls in Phase II. Senator Hugh Scott reported that Phase II will be announced in mid-October. [CBS]
  • The U.S. dollar continued to fall on world money markets. [CBS]
  • Securities and Exchange Commission chairman William Casey announced new commission rates, advantageous to big investors, which will go into effect after the wage-price freeze. [CBS]
  • Arthur Godfrey announced his retirement from daily radio broadcasts. [CBS]


Stock Market Report

Dow Jones Industrial Average: 903.40 (-1.75, -0.19%)
S&P Composite: 99.34 (-0.34, -0.34%)
Arms Index: 0.82

IssuesVolume*
Advances5294.09
Declines8035.07
Unchanged3301.49
Total Volume10.65
* 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
DateDJIAS&PVolume*
September 20, 1971905.1599.689.54
September 17, 1971908.2299.9611.02
September 16, 1971903.1199.6610.55
September 15, 1971904.8699.7711.08
September 14, 1971901.6599.3411.41
September 13, 1971909.39100.0710.00
September 10, 1971911.00100.4211.38
September 9, 1971915.89100.8015.79
September 8, 1971920.93101.3414.23
September 7, 1971916.47101.1517.08


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