News stories from Monday November 29, 1971

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

February 21 has been set as the date for President Nixon's trip to China; no other details of the trip were announced. The President is expected to stay in China for 7-10 days. [CBS] An American helicopter with 33 aboard is still missing in South Vietnam. It is thought to have crashed en route to Phu Bai from Danang. Four other jets and helicopters crashed in Vietnam and Laos today; three people were killed, three hurt, and six are missing. [CBS] Pakistan called up its air force reserves and asked the United Nations for observers along the border with India. Pakistan acknowledged that Indians captured a town and a district in the Sylhet and Chittagong regions. India said that the recent incursion was made after Pakistani artillery hit border settlements, and 150,000 Pakistani refugees and Indian civilians were forced to flee. [CBS] King Hussein of Jordan led the mourning at the funeral of Premier Wasfi Tal, who was assassinated in Cairo last Tuesday; Ahmed al-Lawzi will succeed him. General Muhammed Rasoul al-Kallani was named as chief advisor for national security, and he will follow a hard line against the Palestinian guerrillas. One of the four who were arrested for Wasfi Tal's murder said that guerrillas plan to kill all traitors to the Palestinian cause in the Arab world. [CBS] The ruling party in Uruguay swept to victory in the general election, defeating a Communist-supported coalition. French fashion model-turned-journalist, Michele Ray, was covering the election in Montevideo when she was kidnapped; she was later released unharmed. Ray was held by the Viet Cong for 20 days last year. [CBS] A group of 10 non-Communist economically powerful nations attended a conference in Rome, where some urged the devaluation of the American dollar by 5-7% so that the West German Deutschmark and Japanese yen can go upward. Treasury Secretary John Connally opposed the devaluation. [CBS] A congressional conference committee is working on the tax bill. The White House has threatened a veto if the bill contains the campaign fund checkoff plan and bigger tax cuts than President Nixon wanted. Key Democrats say that the President may not get a tax bill at all if this bill is vetoed. Democratic party chairman Lawrence O'Brien called the veto threat an outrageous admission of the Republican party's reliance on big money and vested interests. [CBS] The Senate voted 77-1 to give federal workers 5.5% pay increases in January. [CBS] Today's Price Commission decisions: the commission granted Ford a 2.9% price increase instead of 4.4%; Chrysler got 4.5% instead of 5.3%; American Motors got the 2.5% it asked for. The commission turned down the request of the Oscar Mayer Company for a 1.5% rise in prices because its profit margin is now higher than it was before the freeze. The Bassett Furniture Company was turned down due to providing inadequate data on productivity. [CBS] President Nixon called on workers to rally behind his economic policies; AFL-CIO president George Meany and other leaders of organized labor called on workers to help drive Nixon out of office. [CBS] In the last six months, seven women between the ages of 13-21 have been murdered in the area of Houston, Texas. Authorities began to suspect that the deaths were related when the body of a 21-year-old girl was found 40 miles from Houston on November 7, shot in the head in circumstances similar to the previous deaths of two teenagers.On November 17, the body of Maria Johnson, 15, was found in a pool of water 50 miles from Houston. On November 18, the body of Debbie Akerman was found in the same pond. Five days later, Gloria Gonzales, 19, was found near the Attucks reservoir. On November 26, the partial skeleton of Colette Wilson, 13, was found in the same area; she had been reported missing on June 17. Harris County sheriff Buster Kern said that most of the slayings were committed by the same person, and they have a suspect. [CBS] In 1931, Winnie Ruth Judd was convicted of murdering her friend and sending the body away. After seven escapes from prison, she'll be paroled to live with a California couple who unknowingly employed her for seven years after her last escape in 1962. [CBS] A confirmation hearing was held regarding Mrs. Romana Banuelos for U.S. Treasurer. Thirty-six illegal aliens were arrested at her California food processing plant last month; Banuelos declared that she didn't knowingly permit aliens to work there. The Immigration Service agrees with the Senate that the raid was a publicity stunt designed to embarrass Mrs. Banuelos. [CBS] The American Farm Bureau endorsed Earl Butz's nomination for Agriculture Secretary. [CBS] The "Independent Postal System of America" was formed in Oklahoma City three years ago. Nine million stamps were printed as the first issue; five denominations of stamps have now been issued. Spokesman Thomas Murray said that the IPSA will deliver Christmas cards in every city where it has a post office for five cents. The general counsel of the U.S. Postal Service indicated that the IPSA might be violating the private express statute, so IPSA offered to deliver all Christmas mail in 25 cities for five cents and let the USPS keep three cents off of each piece of mail. IPSA has offices in 53 cities.The U.S. Postal Service says that IPSA stamps may not be put on any U.S. mail, and even if additional postage is placed on it the mail won't be delivered. [CBS] In a speech to the American Medical Association, Vice President Spiro Agnew criticized doctors for being swept up in the pessimistic outlook regarding pollution and chided people for their "doomsday rhetoric". [CBS]

Stock Market Report

Dow Jones Industrial Average: 829.73 (+13.14, +1.61%)
S&P Composite: 93.41 (+1.47, +1.60%)
Arms Index: 0.67

	Issues	Volume*
Advances	1,314	15.97
Declines	204	1.67
Unchanged	194	1.26
Total Volume		18.90

* 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*
November 26, 1971	816.59	91.94	10.87
November 24, 1971	798.63	90.33	11.87
November 23, 1971	797.97	90.16	16.84
November 22, 1971	803.15	90.79	11.39
November 19, 1971	810.67	91.61	12.42
November 18, 1971	815.35	92.13	13.01
November 17, 1971	822.14	92.85	12.84
November 16, 1971	818.71	92.71	13.30
November 15, 1971	810.53	91.81	9.37
November 12, 1971	812.94	92.12	14.54