News stories from Thursday January 13, 1972

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

President Nixon announced the withdrawal of 70,000 men from Vietnam by May 1; 69,000 troops will remain. Defense Secretary Melvin Laird stated that a residual force will remain in South Vietnam until the POW question is resolved, and he criticized Democratic presidential candidates for advocating quicker withdrawals now, but who were silent during a Democratic administration's escalation of the war. [CBS] Five U.S. combat deaths were reported for the past week. [CBS] A peace offer is being considered by North Vietnam: mutual troop withdrawal from South Vietnam in exchange for the release of American POWs. Rejection of the offer is expected. [CBS] At the Paris Peace Talks, the Viet Cong charged the U.S. with planning to use nuclear weapons in northern South Vietnam. Allies termed the charge "absurd". [CBS] Secretary of Defense Laird says that a North Vietnamese offensive is expected in South Vietnam, but he believes that most battles can be won by South Vietnamese forces. The enemy captured the CIA base at Long Cheng, Laos, shelled Danang, and attacked the outskirts of Saigon today. [CBS] Alabama Governor George Wallace announced that he will enter the Democratic presidential nomination race in the Florida primary. The Governor's entourage includes distinguished politicians and uniformed staff. Wallace is considered to be the front-runner in Florida's Democrat race. [CBS] The government of Ghana was overthrown in a bloodless military coup. Mrs. Nixon visited Ghana recently and said that she had no inkling of unrest. [CBS] Sheik Mujibur Rahman, the new Prime Minister of Bangladesh, appointed a cabinet and reserved several posts for himself. [CBS] The FBI issued an arrest warrant for Ronald Kaufman, the AWOL Army private whose fingerprints were found on bomb parts planted in banks in three major cities. [CBS] The Supreme Court reversed the sentence of Father Groppi, who was jailed for disorderly conduct during a welfare protest, because he never had a chance to defend himself in court. [CBS] The Nixon administration announced a program to fight crime in eight major cities. Vice President Agnew said that the funds were allotted in order to make a quick impact against burglary and street crimes. [CBS] A tornado smashed Fort Rucker, Alabama. [CBS] The Pay Board will allow retroactive wage increases for the freeze period; the Price Commission will allow publicly-regulated utilities and industries to raise their rates and prices. [CBS] President Nixon said that he won't have time to sit for an official portrait while in office, but chose Andrew Wyeth as the painter anyway. [CBS] The Russian military newspaper Red Star claims that the Pentagon has a secret arsenal of skunks, sea gulls, dolphins, seals, and bats; the Pentagon denied the use of skunks and sea gulls. [CBS]

Stock Market Report

Dow Jones Industrial Average: 905.18 (-5.64, -0.62%)
S&P Composite: 102.99 (-0.60, -0.58%)
Arms Index: 1.15

	Issues	Volume*
Advances	495	4.40
Declines	1,009	10.35
Unchanged	253	1.66
Total Volume		16.41

* 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 12, 1972	910.82	103.59	20.97
January 11, 1972	912.10	103.65	17.97
January 10, 1972	907.96	103.32	15.32
January 7, 1972	910.37	103.47	17.14
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