News stories from Wednesday January 26, 1972

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

Communists dismissed President Nixon's Vietnam peace plan as "propaganda" and chided the President for revealing secret talks, but they did not actually reject the proposal. Presidential aide Henry Kissinger described 12 secret meetings with the Communists on the outskirts of Paris over a period of 30 months. [CBS] William Porter, the U.S. ambassador to the Paris Peace Talks, left Washington for Paris to make a formal proposal of the Nixon peace plan. President Thieu of South Vietnam endorsed the plan, which includes an internationally-supervised election in South Vietnam with Thieu stepping down from the presidency one month prior to the election. Questions about why Thieu would agree to a new election were answered in part by the fact that he must cooperate with the U.S. in order to get economic aid. [CBS] The South Vietnamese Air Force destroyed four North Vietnamese tanks in the Central Highlands, and two more North Vietnamese anti-aircraft missile sites were destroyed by U.S. jets. An American helicopter was downed in the Mekong Delta, killing one soldier. [CBS] The offices of two organizations sponsoring Soviet entertainers in America were firebombed. A receptionist at the office of Sol Hurok was killed; five people were injured. An anonymous caller said that the bombs were a protest of the treatment of Soviet Jews. The Jewish Defense League denied responsibility. [CBS] A nursing home in Cincinnati was destroyed by fire. Nine elderly women were killed, four escaped. [CBS] The Cost of Living Council exempted non-profit private schools and college tuition fees from price controls. [CBS] Clifford Irving, author of the alleged biography of Howard Hughes, insists that his book is authentic; Irving says that Hughes verbally gave him the autobiography. Upon arriving in New York City today, Irving stated that he gave the McGraw-Hill check to Hughes personally, and denied that his wife is "Helga R. Hughes". [CBS] The Environmental Protection Agency is urging the government to set limits for noise pollution. [CBS] Democrat caucuses in Iowa indicate that Edmund Muskie will get 35% of the state's delegates, George McGovern 25%, uncommitted 35% and all others 7%. [CBS] Reverend Daniel Berrigan will be paroled in February. He is currently serving time for destroying draft records. [CBS] The Senate debated enforcement authority for the Equal Employment Opportunity Commission to ensure against discrimination by race, creed, or sex in hiring. [CBS] The federal government reported seizing more than $900 million in drugs last year. [CBS] A Japanese Army sergeant was found by hunters on Guam. He had been hiding there since World War II. [CBS] A basketball game between the University of Minnesota and Ohio State University got out of hand; three players were treated at a hospital for facial lacerations. Big 10 Commissioner Wayne Duke may suspend some players. [CBS] Environmental Protection Agency administrator William Ruckelshaus demanded the resignation of Howard Cohen, who, according to the New York Times, distributed a memo to EPA officials stating that environmental legislation should be compromised in order to help President Nixon's re-election. Cohen denies the charge. [CBS]

Stock Market Report

Dow Jones Industrial Average: 889.15 (-5.57, -0.62%)
S&P Composite: 102.50 (-0.28, -0.27%)
Arms Index: 0.93

	Issues	Volume*
Advances	684	6.65
Declines	718	6.51
Unchanged	331	1.78
Total Volume		14.94

* 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 25, 1972	894.72	102.78	17.57
January 24, 1972	896.82	102.57	15.64
January 21, 1972	907.44	103.65	18.81
January 20, 1972	910.30	103.88	20.21
January 19, 1972	914.96	103.88	18.80
January 18, 1972	917.22	104.05	21.07
January 17, 1972	911.12	103.70	15.86
January 14, 1972	906.68	103.39	14.96
January 13, 1972	905.18	102.99	16.41
January 12, 1972	910.82	103.59	20.97