News stories from Thursday December 30, 1971

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

The U.S. bombing of North Vietnam ended. Hanoi claims that 19 American planes were downed but the U.S. says it was only three. The results of the bombings are being assessed; some feel that they were unsuccessful, and Secretary of Defense Melvin Laird is non-committal. Laird defined the purpose of the bombing as an attempt to reduce U.S. casualties. The casualty rate has dropped, but high-priority targets were missed and it is doubtful that the U.S. gained any advantage from the bombing. [CBS] A federal grand jury issued new indictments of former Rand Corporation employees Daniel Ellsberg and Anthony Russo. The new charges are more serious, carrying sentences of 115 years in prison and fines up to $120,000. Ellsberg held a news conference in New York City and denied violating any criminal statutes. Russo surrendered in Los Angeles, where he is being provided free legal aid because he is classified as indigent. Russo is facing a possible fine of $45,000 and 35 years in federal prison. [CBS] The grand jury which indicted Ellsberg and Russo also named two others: former South Vietnamese ambassador to the U.S. Vu Van Thai, and Mrs. Lynda Sinay, a friend of Ellsberg. [CBS] Senator Hubert Humphrey had a tomato thrown at him while addressing the American Association for Advancement of Science in Philadelphia. William Bundy, a key Vietnam adviser in the 1960's, had his speech interrupted. Police moved in and removed Bundy. [CBS] General Robert Cushman was sworn in as the new commandant of the U.S. Marine Corps. [CBS] 100,000 men may escape the draft if no calls are made during the first quarter of 1972. [CBS] Israeli Prime Minister Golda Meir's U.S. visit was successful. U.S. jet fighters will be sold to Israel, and peace talks with the Arabs are scheduled to be resumed. [CBS] A federal jury in Baltimore found Texas Rep. John Dowdy guilty of bribery and conspiracy. [CBS] Love letters from President Warren G. Harding to Mrs. Carrie Phillips which were found seven years ago have been ordered to be sealed in the Library of Congress until 2014. [CBS] Former Massachusetts Governor Endicott Peabody announced his bid for Vice President, and will enter the Democratic primaries. [CBS] President Nixon signed a bill extending unemployment benefits in 11 states where unemployment is high. [CBS] Economic adviser Paul McCracken resigned from his position and revealed his differences with the Nixon administration. [CBS] Military hospital units in Vietnam show evidence of U.S. withdrawal. The usage of medical helicopters has declined, and surgical wards are chiefly filled with non-combat cases. There were only nine combat casualties on Christmas day, compared to 69 last year. A malaria outbreak has been severe, also hepatitis. Deaths now are chiefly from malaria, drug overdose and accidents. Doctors wrote a protest letter to Senator Mike Mansfield demanding immediate, total withdrawal of American forces from Vietnam. [CBS]

Stock Market Report

Dow Jones Industrial Average: 889.07 (-4.59, -0.51%)
S&P Composite: 101.78 (-0.43, -0.42%)
Arms Index: 1.09

	Issues	Volume*
Advances	626	4.81
Declines	801	6.69
Unchanged	318	2.31
Total Volume		13.81

* 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 29, 1971	893.66	102.21	17.15
December 28, 1971	889.98	101.95	15.09
December 27, 1971	881.47	100.95	11.89
December 23, 1971	881.17	100.74	16.00
December 22, 1971	884.86	101.18	18.93
December 21, 1971	888.32	101.80	20.46
December 20, 1971	885.01	101.55	23.81
December 17, 1971	873.80	100.26	18.27
December 16, 1971	871.39	99.74	21.07
December 15, 1971	863.76	98.54	16.89