News stories from Friday November 5, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Supreme Court agreed to hear arguments regarding the Amchitka Island, Alaska, nuclear test. 34 senators appealed to President Nixon to cancel the test, and 7,600 letters of protest have been received by the Atomic Energy Commission. The test is set for Saturday at 5 p.m. EST; final preparations have been completed.
The effects of the blast will be measured in Anchorage, while observers in the Aleutians will monitor air and water for radiation. Police in Canada received a threat that 50 American companies there will be blown up if the test goes off.
[CBS] - Labor representatives on the Pay Board reported progress regarding wage restraints; another meeting is set for Saturday. Labor is fighting against the 5% limit on raises. [CBS]
- One out of every 17 workers in the U.S. was unemployed in October. Unemployment was down for the third month in a row; the minority unemployment rate is 10.7%. Wholesale prices were stable. The unemployment rate in West Germany is now just 0.8%. [CBS]
- Helicopters and planes dropped food and supplies along the Bay of Bengal coastline in India. Another storm is reported to be nearing the area; 100 cyclones have hit the region in the last 80 years. Bangladesh guerrillas are continuing to train for attacks on East Pakistan. [CBS]
- Neither President Nixon nor Indian Premier Indira Gandhi are changing their positions regarding Pakistan. Premier Gandhi rejected the President's appeal to pull Indian troops from the border and hold a summit meeting with Yahya Khan. [CBS]
- A source reported that thousands of American troops in Vietnam will get unexpected trips home for Christmas this year. [CBS]
- President Nixon ordered a reorganization of the CIA, giving director Richard Helms a larger supervisory role. Helms will coordinate data gathered by the CIA, Defense Intelligence Agency, State Department, National Security Agency, FBI and others. [CBS]
- The Cubans who were denied visas to attend the International Sugarcane Conference in New Orleans have flown home. [CBS]
- The U.S. is selling $135 million worth of grain to the Soviet Union. [CBS]
- The FDA sent out its Christmas message early. The director of product safety reported that the government has banned 187 toys, and he appealed to toy manufacturers to correct the defects. The consumer's union says that Christmas will be safer because of the FDA's warning, but the government overlooked the dangers in thermal and electric toys. [CBS]
- Pro-fascist vandals in Madrid destroyed 24 of Pablo Picasso's engravings which were being displayed. Their leaflets praised Generalissimo Francisco Franco and condemned Picasso. [CBS]
- The number of vasectomies performed in the U.S. increased from 250,000 in 1969 to 750,000 in 1970. [CBS]
- Organized labor and the American Cancer Society will study whether workers in certain industries run greater risks of cancer. [CBS]
- A Soviet scientist figured that the earth's atmosphere weighs 5,157,000,000,000,000 tons. An American atmospheric expert said that the number is of no importance. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 840.39 (-2.78, -0.33%)
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* |
| November 4, 1971 | 843.17 | 94.79 | 15.75 |
| November 3, 1971 | 842.58 | 94.91 | 14.59 |
| November 2, 1971 | 827.98 | 93.18 | 13.33 |
| November 1, 1971 | 825.86 | 92.80 | 10.96 |
| October 29, 1971 | 839.00 | 94.23 | 11.71 |
| October 28, 1971 | 837.62 | 93.96 | 15.53 |
| October 27, 1971 | 836.38 | 93.79 | 13.48 |
| October 26, 1971 | 845.36 | 94.74 | 13.39 |
| October 25, 1971 | 848.50 | 95.10 | 7.34 |
| October 22, 1971 | 852.37 | 95.51 | 14.56 |