News stories from Thursday September 30, 1971

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

Hurricane Ginger hit North Carolina, but there have been no casualties. Ginger lost considerable punch after making landfall. [CBS] Unless an agreement is reached, longshoremen on east coast and Gulf coast ports may strike as they have done against west coast ports. [CBS] 7,000 coal miners went on strike in advance of tonight's contract deadline. [CBS] At the International Monetary Fund conference, the U.S. and other nations are not getting very far. Treasury Secretary John Connally said that the change in gold prices is of no economic significance, but there can be no change in the U.S. import surcharge until the trade deficit is turned around. Connally proposed that other nations remove their trade barriers, and then the U.S. will remove its import surcharge. Connally didn't say that the U.S. would not devalue the dollar, but the U.S. is ready to negotiate new trade and currency arrangements. [CBS] The Labor Department added the San Francisco-Oakland, California area and the Gary-Hammond-East Chicago, Indiana area to the list of places where unemployment is at 6% or more. There are now 64 areas on the list. [CBS] A woman on the Supreme Court is unlikely since no female attorney or judge meets President Nixon's criteria for conservative philosophy, but many feel that it's a political risk if he doesn't appoint a woman. The National Women's Political Caucus believes that two women should be appointed to the court; Rep. Bella Abzug called it "untenable" for President Nixon to fill the court only with people who share his point of view. The Daughters of the American Revolution, a conservative group, is reportedly also involved in pressuring the President. [CBS] An appeals court in San Francisco ruled that Leslie Bacon was illegally arrested with regard to the March bombing of the U.S. Capitol building in Washington, DC. [CBS] An appellate court ruled that the state of Ohio can be sued for the four shooting deaths of Kent State University students by the National Guard in 1970. [CBS] Three alleged ringleaders of the Attica riots testified about their treatment. Security remains tight at Attica; warden Vincent Mancusi has relieved eight guards from duty due to their emotional state.Inmate Frank Lott told of being stripped and beaten, but couldn't identify the guards by name. Inmate Roger Champen described his mistreatment. Inmate Herbert Blyden won't name any guards for fear of retaliation. Lott said that he saw Elliot Barcley die after the uprising was put down. New York assemblyman Arthur Eve said the same thing Wednesday. Prison representatives claim that Barcley was killed as the riot was ending. [CBS] The defector who blew the whistle on 105 Russian spies in Britain has been identified as Oleg Lyalin, a 34-year-old member of a Soviet trade group. Lyalin sought asylum after being arrested for drunk driving. [CBS] Pope Paul opened the Bishops' Synod and spoke about priesthood celibacy and his view of the role of the Catholic church regarding social reform. Militant priests and laymen criticized the Pope's speech. [CBS] Senator Sam Ervin's subcommittee continued its hearing on freedom of the press. Anchorman Walter Cronkite argued against controlled broadcasting and claimed that intimidation from high government representatives is becoming clear. Law professor Jerome Barron stated that regulation of broadcasting should be continued and cited the advantages of the "Fairness Doctrine". Author Laurence Leamer said that the mainstream press ignores the unconstitutional persecution of the underground press and its rights. [CBS] The Senate voted 57-38 to add Senator Mansfield's amendment regarding U.S. troop withdrawal from Vietnam to the weapons bill. If American POWs are released, the amendment calls for U.S. troops to pull out within six months. [CBS] The Pentagon will draft 10,000 men over the months of October, November and December, bringing the total to 98,000 for the year. [CBS] The allied build-up on the South Vietnam-Cambodian border has stopped the Communist offensive. A rocket and mortar attack just missed Tay Ninh, South Vietnam. [CBS]

Stock Market Report

Dow Jones Industrial Average: 887.19 (+3.36, +0.38%)
S&P Composite: 98.34 (+0.44, +0.45%)
Arms Index: 0.97

	Issues	Volume*
Advances	801	7.15
Declines	560	4.85
Unchanged	301	1.49
Total Volume		13.49

* 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 29, 1971	883.83	97.90	8.58
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