News stories from Friday January 7, 1972

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

It was revealed that time bombs were planted months ago in banks in three major cities in order to secure the release of political prisoners. The banks were tipped off by letters to various news media outlets; all of the letters were mailed from Chicago. George Jackson and Sam Melville, prisoners who were killed in the escape and riot at San Quentin last year, were mentioned in the letters. The safety deposit boxes which contained the bombs were rented under the name Christopher Charles Moore, and were last visited in July, 1971. Students for a Democratic Society is suspected in the plot.In San Francisco, one bomb exploded last September at a Bank of America, and two more were found at the Wells Fargo Bank and Crocker Bank. [CBS] President Nixon concluded his meeting with Japanese Prime Minister Sato and announced his candidacy for re-election in New Hampshire by letter. Lane Dwinell, the President's New Hampshire campaign manager, cited Nixon's decision not to run actively in primaries due to his duties as president.The President has agreed to return the island of Okinawa to Japanese control on May 15, and to set up a Washington-Tokyo hotline. [CBS] Senator Hubert Humphrey will announce his presidential candidacy on Monday; Alabama Governor George Wallace will announce in Tallahassee, Florida, on Thursday. [CBS] Senator Adlai Stevenson III said that he will endorse Senator Edmund Muskie. Muskie will fly to Springfield, Illinois, on Monday for the announcement. [CBS] Lewis Powell and William Rehnquist were sworn in as Supreme Court justices. [CBS] The unemployment rate rose from 6.0% to 6.1% in December; 5,200,000 people were unemployed in 1971. Senator William Proxmire is disturbed about the unemployment figures, but administration economic advisor Herbert Stein said that he is optimistic about the figures from the second half of 1971. [CBS] A Pacific Southwest Airlines jet with 134 passengers was hijacked to Cuba en route from San Francisco to Los Angeles. A black couple with an infant, armed with a shotgun and a pistol, allowed passengers to get off in Los Angeles. The plane refueled in Tampa, where the hijackers demanded to fly to Africa but settled for Cuba. The plane and crew returned to Miami after its stop in Cuba. [CBS] An Iberian Airlines jet crashed into a fog-ridden mountain, killing 104 persons aboard the plane. [CBS] In 1967, a bridge over the Ohio River in West Virginia collapsed, killing 46. The resulting federal investigation reported that 1 out of every 6 bridges in the U.S. is critically deficient. The Federal Highway Administration cited Tennessee, Ohio and Michigan as the states with the worst bridges. [CBS] The Pentagon reported that drug addiction among U.S. servicemen in Vietnam has declined sharply. Asst. Defense Secretary Dr. Richard Wilbur says that the number of drug-addicted patients dropped by two-thirds in five months. [CBS] The Atomic Energy Commission reported that China conducted its 12th known atmospheric nuclear test in northwest China. [CBS] India established diplomatic relations with North Vietnam. A reporter stated that India's move was out of anger over the United States' pro-Pakistan position. Assistant Secretary of State Joseph Sisco is said to have told the Indian ambassador in Washington to quit talking to the press during the war. [CBS] The Pentagon announced a large cut-back of military and civilian personnel. [CBS] The Apollo 16 moon shot has been postponed to April 16 due to a technical problem. [CBS] In Minneapolis, Pulitzer Prize-winning poet John Barryman committed suicide by jumping into the Mississippi River. [CBS] Mickey Cohen, a west coast underworld figure, was released from a federal prison hospital. Cohen, who is serving time in Atlanta for income tax evasion, had been severely beaten. [CBS]

Stock Market Report

Dow Jones Industrial Average: 910.37 (+1.88, +0.21%)
S&P Composite: 103.47 (-0.04, -0.04%)
Arms Index: 1.01

	Issues	Volume*
Advances	800	7.90
Declines	667	6.67
Unchanged	306	2.57
Total Volume		17.14

* 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*
January 6, 1972	908.49	103.51	21.10
January 5, 1972	904.43	103.07	21.35
January 4, 1972	892.23	102.09	15.19
January 3, 1972	889.30	101.67	12.57
December 31, 1971	890.20	102.09	14.04
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