News stories from Friday December 31, 1971

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

The New Year's truce has temporarily silenced the guns in South Vietnam. North Vietnam claims to have shot down 24 U.S. jets during the last five days of bombing; the U.S. claims that only three planes were lost. Hanoi named three pilots who were captured: David Hauffman, Norris Charles and Leon Walter. Now that bombing missions over North Vietnam are complete, pilots will resume bombing the trails in Laos. [CBS] Indian Prime Minister Indira Gandhi said it is remarkable that Bangladesh reprisals against West Pakistanis and their supporters haven't been more severe. The Biharis, a minority group accused of siding with West Pakistan, are being persecuted by the Bengalis. The Biharis are suffering in poor conditions with little food or medicine; a cholera epidemic could wipe them out. [CBS] In Belfast, Northern Ireland, a bomb exploded at a theater just minutes after 300 children were evacuated from a matinee. A stolen car rigged with a bomb blew up a hotel and the theater in what was termed the biggest blast of the Irish revolt. [CBS] Maltese Prime Minister Dom Mintoff announced that Britain has two weeks to get its forces off his island. [CBS] Senator Hubert Humphrey will declare his candidacy for the Democratic presidential nomination on January 10, in time for the Pennsylvania primary. [CBS] The Washington Post reports that a private campaign, supported by former Joint Chiefs of Staff chairman Earl Wheeler, is trying to convince the public that the Communists are ahead of the U.S. on military spending. "Operation Alert" is being coordinated by a group called the American Security Council, an education and research organization on national security. [CBS] Actor Peter Deuel invited his girlfriend over to watch his television show, "Alias Smith and Jones", then shot himself to death later that night. [CBS] An Arizona copper company fired its four geologists, saying that times are tough. One geologist blames it on unrealistic environmental regulations proposed for the Arizona copper industry.Copper smelting pours sulfur dioxide into the air; if pollution standards are not lowered, the Phelps Dodge Corporation will have to shut down operations, causing employees to lose their jobs and benefits. Phelps Dodge says that it would cost $240 million -- one-third of what the entire company is worth -- to bring smelters into compliance with pollution laws. Polls show that a majority of Arizonans want tougher pollution laws. [CBS] The Spanish government declared that pollution poses a hazard to art masterpieces in Madrid's Prado Museum. [CBS]

Stock Market Report

Dow Jones Industrial Average: 890.20 (+1.13, +0.13%)
S&P Composite: 102.09 (+0.31, +0.30%)
Arms Index: 0.82

	Issues	Volume*
Advances	933	8.50
Declines	512	3.82
Unchanged	287	1.73
Total Volume		14.05

* 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 30, 1971	889.07	101.78	13.81
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