News stories from Wednesday February 2, 1972

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

In Londonderry, Northern Ireland, funerals were held for the 13 victims of "Bloody Sunday"; violence continues to reign in Belfast. In Dublin, Ireland, thousands vented their grief by destroying the British embassy. Nearly 20,000 people were off from work in Dublin for a national day of mourning for the dead of Londonderry. Mock coffins were stacked against the front door of the embassy and the Union Jack was burned. Authorities did not hinder the protest.Twenty thousand mourners gathered at St. Mary's Church in Londonderry for a mass funeral for the 13 Catholics who were killed by British soldiers. Northern Ireland MP Bernadette Devlin attended the service. In London, Defense Minister Lord Carrington declared that Britain will make no concession to violence or terrorism in Northern Ireland. [CBS] The Selective Service held a draft lottery for men born in 1953, who are subject to induction next year. [CBS] South Vietnamese troops entered Cambodia in pursuit of fleeing Communists. Five more U.S. retaliatory strikes were reported against missile and antiaircraft sites in North Vietnam. [CBS] Rep. Les Aspin says that a private group called Amnesty International was prepared to make an inspection of POW camps in South Vietnam and North Vietnam last summer, but South Vietnam refused. [CBS] Israel agreed to indirect talks with Egypt on reopening the Suez Canal, with the U.S. as an intermediary. Egyptian President Anwar Sadat declined the offer and will visit Moscow, seeking military aid. [CBS] President Nixon denounced Congress for its failure to enact emergency legislation to end the West coast dock strike. [CBS] The U.S. dollar dropped in value on the European money markets; gold hit a record price. [CBS] The Securities and Exchange Commission is recommending the merger of all U.S. stock exchanges. [CBS] The Federal Reserve Board announced a plan to speed up the check-processing system with regional clearinghouses using computers. [CBS] Sites of mass executions during the India-Pakistan war have been found in Bangladesh. In Khulna, scattered homes on the banks of a waterway mark sites where villagers were lined up and shot by West Pakistanis. Many Bengalis want revenge and the death of Pakistani collaborators. [CBS] The National Center for Disease Control is reporting Hong Kong flu outbreaks in all 50 states. [CBS] The outbreak of staph infections among newborn infants in 23 hospitals that discontinued hexachlorophene bathing has led to a modification of the government's warning. The FDA now says that hexachlorophene may be used to combat staph germs. [CBS] The Japanese soldier who hid on Guam for 27 years after World War II returned in tears to Tokyo. He will receive back pay for the years since the war ended, amounting to $162. [CBS] House Ways and Means Committee chairman Wilbur Mills says he is not a presidential candidate, but a major write-in campaign has been launched for him in New Hampshire. [CBS] After a clash with Vice President Agnew, antipoverty legal services program director Fred Speaker said that he may resign. [CBS] President Nixon expressed his willingness to compromise on the welfare reform plan, especially the family assistance provision. White House press secretary Ron Zeigler said that the President would consider an experimental program to test the concept, as proposed by Senator Abraham Ribicoff. [CBS]

Stock Market Report

Dow Jones Industrial Average: 905.85 (+4.06, +0.45%)
S&P Composite: 104.68 (+0.67, +0.64%)
Arms Index: 0.77

	Issues	Volume*
Advances	930	14.49
Declines	546	6.54
Unchanged	285	3.04
Total Volume		24.07

* 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*
February 1, 1972	901.79	104.01	19.60
January 31, 1972	902.17	103.94	18.25
January 28, 1972	906.38	104.16	25.00
January 27, 1972	899.03	103.50	20.36
January 26, 1972	889.15	102.50	14.94
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