News stories from Monday December 13, 1971

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

Indian forces have moved within six miles of Dacca, but Pakistan refuses to surrender. An orphanage was bombed in Dacca, killing at least 100 children; the actual target was allegedly a railroad station. Air raid precautions are rudimentary in Dacca despite constant air attacks. Civilians have evacuated Dacca now that Indian forces are within striking distance. [CBS] In East Pakistan, Indians and Bengali guerrillas surrounded border towns; civilians fled. Villagers are devoted to the Bangladesh cause due to the massacres and destruction they suffered at the hands of the West Pakistan army. [CBS] In Calcutta, Indian youths wrecked an office of Pan Am Airways while screaming anti-American slogans. In New Delhi, 300 Indian students demonstrated at the U.S. embassy, accusing the U.S. of pro-Pakistan sentiment. The Soviet embassy was cheered for supporting India. [CBS] The president of the United Nations Security Council refused to admit the representative from Bangladesh. [CBS] Communists attacked an American outpost at Qui Nhon, South Vietnam. South Vietnamese troops with U.S. air cover drove to Chup, Cambodia. [CBS] President Nixon and French President Georges Pompidou met in the Azores; the international monetary crisis was the focal point of their talks. America's 10% import surcharge and U.S. investments in France are considered unfair by Pompidou, and Nixon is frustrated at France's blocking of world monetary reform. [CBS] The Labor Department issued a report regarding the first six months of the new federal job safety agency. Sixty percent of the companies that were investigated were found guilty of violations. [CBS] The Price Commission made its decision on rents. Landlords face rollbacks on rent hikes announced for January 1. The commission ruled that pre-freeze rent rates must be maintained.A Senate-House conference committee extended the President's economic powers and approved some retroactive raises. The chairman and members of the Pay Board and Price Commission must face Senate confirmation. [CBS] Presidential candidates in 1972 will be limited to approximately $8.5 million for radio and television campaigning. The equal-time broadcast regulation will continue. [CBS] China has released Richard Fecteau and Mary Ann Harbert, and the two freed Americans are on their way home. Margaret Fecteau divorced Richard one year before his capture, but corresponded with him when permitted by the Chinese. Her twin daughters, now 21, were babies when their father disappeared. China also commuted the life sentence of John Downey to five more years in prison. President Nixon praised China's acts of clemency. [CBS] The Apollo 16 moon rocket was moved to the launch pad at Cape Kennedy; launch is scheduled for March 17. Astronaut John Young will command the mission, with Thomas Mattingly and Charles Duke. [CBS] Retired Air Force Maj. Robert Cowden, a Vietnam veteran, killed his wife, his four children and himself in Satellite City, Florida. [CBS] In Jacksonville, Florida, William O'Hara was sentenced to 15 months in prison for attempting to sell two children, Theresa and Robert Cox, for $7,000 and a used car. [CBS] Florida is suing the City Service Oil Company for polluting the Peace River. [CBS] The Washington Post reported that Mrs. Jacqueline Kennedy Onassis is working as a volunteer with slum children in Harlem, New York. [CBS]

Stock Market Report

Dow Jones Industrial Average: 858.79 (+2.04, +0.24%)
S&P Composite: 97.97 (+0.28, +0.29%)
Arms Index: 0.73

	Issues	Volume*
Advances	917	10.52
Declines	506	4.26
Unchanged	298	2.25
Total Volume		17.03

* 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*
December 10, 1971	856.75	97.69	17.51
December 9, 1971	852.15	96.96	14.71
December 8, 1971	854.85	96.92	16.65
December 7, 1971	857.40	96.87	15.25
December 6, 1971	855.72	96.51	17.48
December 3, 1971	859.59	97.06	16.76
December 2, 1971	848.79	95.84	17.78
December 1, 1971	846.01	95.54	21.04
November 30, 1971	831.34	93.99	18.32
November 29, 1971	829.73	93.41	18.91