News stories from Wednesday September 29, 1971

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

Thousands of South Vietnamese reinforcements were rushed to the Cambodian border near Tay Ninh, South Vietnam, to counter North Vietnamese attacks. North Vietnamese forces launched their offensive on the eve of South Vietnam's presidential election; fighting was reported just 35 miles from Saigon. Two North Vietnamese divisions are reportedly taking part in the attack. [CBS] President Nguyen Van Thieu ordered police to shoot to kill anti-government protesters who are involved in violent demonstrations. [CBS] Senator Barry Goldwater called Senator Edward Kennedy's statement that he would crawl to Paris to the negotiating table if it would free American POWs an insult and a disgrace. [CBS] The first satellite television program from China was disappointing. Most of the broadcast involved a gymnastic exhibition with the Chinese and Albanians; the reason for the broadcast is unclear, though Albania is sponsoring a U.N. resolution for the admission of China and the expulsion of Taiwan. [CBS] Hungary announced that Cardinal Jozsef Mindszenty has been granted amnesty from his life sentence for high treason; the announcement is apparently part of a deal to get Mindszenty to end his exile. [CBS] President Nixon hosted a high level meeting with Soviet Foreign Minister Andrei Gromyko, Ambassador Anatoly Dobrynin, Secretary of State William Rogers and adviser Henry Kissinger. Arms limitations, the Middle East and the Vietnam war were among the topics discussed. [CBS] Lockheed Aircraft Corporation was charged with waste and mismanagement by former employee Henry Durham, who displayed rusted drill bits at a Senate hearing. [CBS] Senator William Proxmire refuted a Navy official's charge that four Louisiana congressmen used pressure to win a shipbuilding dispute. [CBS] The Senate rejected an attempt to scrap the anti-ballistic missile system, and defeated an amendment to cut off funds for the Navy F-14 plane. [CBS] Hearings continued on freedom of the press. Rep. Ogden Reid said that a reporter's sources should be treated the same as lawyer-client or doctor-patient information. CBS president Frank Stanton claimed that government agencies are increasingly attempting to make news agencies investigative tools of government through the use of subpoenas; the public's right to know has not been affected yet, but the tendency is growing. [CBS] New York state assemblyman Arthur Eve charged that Attica prison riot leader Elliot Barcley was killed after the rebellion was put down. Relatives were allowed to visit inmates today for the first time since the riot. Some relatives said that inmates told them of brutality following the rebellion. The New York deputy corrections commissioner said that complaints of physical abuse will be investigated. [CBS] FBI figures indicate that violent crime was up 11% for the first half of this year; 80 policemen were killed in the first eight months of the year. [CBS] The Massachusetts Board of Education will file a suit against Boston school officials for abandoning busing; the Board is withholding $14 million in school funds. [CBS] The Black Business and Cultural Exposition, sponsored by the Southern Christian Leadership Conference, was held in Chicago. The goal of the Black Expo is to stimulate cultural, political and economic awareness among blacks; black-owned businesses comprise less than 1% of total U.S. enterprises. Reverend Jesse Jackson said that blacks have potential and desire to be other than welfare recipients, and through new economic vision they will begin to end hunger and poverty. Chicago Mayor Richard Daley attended the Black Expo. [CBS] Transportation Secretary John Volpe liberalized rules for auto manufacturers regarding the development of air bags for 1974 model cars; air bags will not be required until 1976. [CBS] Two satellites that were launched from a single rocket were placed in egg-shaped rather than circular orbits due to a rocket malfunction; the satellites are still expected to perform their tasks. [CBS] Hurricane Ginger is headed for the North Carolina coast. [CBS] At a meeting of the International Monetary Fund, Latin American countries called for an end to the U.S. 10% import surcharge for less-developed nations. [CBS]

Stock Market Report

Dow Jones Industrial Average: 883.83 (-0.59, -0.07%)
S&P Composite: 97.90 (+0.02, +0.02%)
Arms Index: 1.16

	Issues	Volume*
Advances	625	3.35
Declines	628	3.90
Unchanged	363	1.33
Total Volume		8.58

* 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 28, 1971	884.42	97.88	11.25
September 27, 1971	883.47	97.62	10.22
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