News stories from Monday September 27, 1971

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

President Nixon met with Japanese Emperor Hirohito in Alaska. The President expressed his hope that the meeting would demonstrate the determination of America and Japan to work together; Hirohito said that friendly relations will be increased by close contact between governments and peoples. President Nixon had a reunion in Alaska with former cabinet member Walter Hickel; Nixon fired Hickel because of a "lack of mutual confidence". [CBS] Police in Danang, South Vietnam, used tear gas to disperse anti-Thieu demonstrators; three U.S. military vehicles were firebombed in Can Tho. Anti-Thieu protesters were also tear gassed in Saigon. President Thieu called for an end to protests in a televised speech. [CBS] The families of POWs and MIAs are holding their second annual meeting in Washington, DC. The organization is deciding whether to remain non-partisan or begin lobbying. [CBS] The Reuters news agency reports that preparations are being made in China for a celebration on October 1; heart specialist Dr. Paul White denied treating Chairman Mao Tse-tung during his visit to China. [CBS] The U.S. trade deficit was $260 million for August. [CBS] An international meeting has begun in Washington, DC to negotiate a currency realignment. The United States' 10% import surcharge and foreign aid cutbacks are hurting poorer nations. 40% of third-world manufactured goods are bought by the U.S.; the sooner that new monetary stability is achieved, the better the chances for poor countries to avoid worse poverty. [CBS] The government has ordered the Atlanta Falcons football team to roll back ticket price increases. [CBS] Agriculture Secretary Clifford Hardin reversed his policy on federal milk support prices after dairy firms protested to President Nixon in March; dairy firms are now raising campaign funds for the President. Money that was given by dairy firms to various organizations was in turn given to the Republican National Committee. Committee chairman Senator Robert Dole denied that the contributions are the result of increases in the milk support price; Dole noted that the dairy firms have disclosed the amount they gave so that Americans can make their own judgment. [CBS] Rep. Morris Udall criticized the handling of the Postal Service bond issue due to the relationship between those working with the bond issue and the Nixon administration. [CBS] Vice President Agnew addressed the International Conference of Police Chiefs in Anaheim, California. Agnew stated that the most inflammatory and baseless charges of radical militants are being given wide media coverage concerning the Attica prison riot; the basic issue of Attica is whether free institutions are to survive. Agnew said that the goal of militants is not reform, justice or peace, but power to themselves. [CBS] The FDA reported that some recycled paper used in food packaging has contaminated food with PCB chemicals. [CBS] The Atomic Energy Commission reported that the Soviet Union tested a nuclear device. [CBS] Art objects were auctioned from the estate of Anna Thompson Dodge. 20,000 people paid $8 to view the estate in Grosse Pointe Farms, Michigan. The fortune made by car builder Horace Dodge was increased by Anna Thomson Dodge through investments; her estate is valued at over $30 million. [CBS]

Stock Market Report

Dow Jones Industrial Average: 883.47 (-5.84, -0.66%)
S&P Composite: 97.62 (-0.53, -0.54%)
Arms Index: 1.00

	Issues	Volume*
Advances	373	2.45
Declines	986	6.49
Unchanged	303	1.28
Total Volume		10.22

* 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 24, 1971	889.31	98.15	13.46
September 23, 1971	891.28	98.28	13.25
September 22, 1971	893.55	98.47	14.25
September 21, 1971	903.40	99.34	10.64
September 20, 1971	905.15	99.68	9.54
September 17, 1971	908.22	99.96	11.02
September 16, 1971	903.11	99.66	10.55
September 15, 1971	904.86	99.77	11.08
September 14, 1971	901.65	99.34	11.41
September 13, 1971	909.39	100.07	10.00