News stories from Thursday February 3, 1972

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

Danish folk singer Nina Van Pallandt says she was with Clifford Irving during his trip to Mexico when he allegedly conferred with Howard Hughes about his autobiography. Van Pallandt, a 39-year-old baroness, is a neighbor of Irving's on Ibiza Island, Spain. She supplied details of the visit to Mexico and stated that Irving did not see Hughes during that trip. A federal grand jury in New York postponed Irving's hearing again today. [CBS] Britain ordered army reinforcements to Northern Ireland as Catholics planned another banned march for Sunday in Newry. The Northern Ireland Civil Rights Association announced plans for a peaceful demonstration.Britain protested the burning of its embassy in Dublin; Ireland promised to pay for the damages. Prime Minister Lynch said that the embassy burning was the work of outlaws under a cloak of patriotism. Secretary of State Rogers discussed the violence in Northern Ireland with the British ambassador and the Irish Foreign Minister. Neither side asked for help, and Rogers said that U.S. intervention would be inappropriate. [CBS] Secretary of State Rogers attacked Senator Edmund Muskie's criticism of President Nixon's Vietnam peace proposal. Muskie says that the President's plan is merely a rewording of proposals which have already been offered and refused. Rogers stated that Muskie's speech will be harmful to the prospects of negotiations to end the Vietnam war. Muskie replied to Rogers' attack with his own proposal, and said that although North Vietnam rejected Nixon's plan it would respond to Muskie's, which would set a firm date for U.S. withdrawal. [CBS] At the Paris Peace Talks, the Viet Cong stated that all American POWs would be released by a fixed date, by which all U.S. troops would be withdrawn from Vietnam. They also asked for the dismissal of South Vietnam President Nguyen Van Thieu. [CBS] Fighting was reported in Cambodia near the ancient ruins of Angkor Wat. [CBS] The Senate is six votes short of shutting off a filibuster which is blocking a vote on giving more power to the Equal Employment Opportunities Commission. [CBS] Senator Karl Mundt suffered a stroke in November 1969, and has been absent from the Senate since that time. Today Senate Republicans finally stripped Mundt of his committee assignments. [CBS] The Associated Press Managing Editors Association accused President Nixon of trying to kill presidential press conferences as an institution. [CBS] The House Ways and Means Committee raised the national debt ceiling by $20 billion to $450 billion. President Nixon wanted a $50 billion increase but will have to request the remaining $30 billion next summer. [CBS] The first black female representative, Shirley Chisholm, is campaigning for the Democratic presidential nomination. She refuses to yield to the other Democratic candidates, who urged that she withdraw in order to prevent the division of liberal votes. Georgia state legislator Julian Bond said that blacks who disapprove of Chisholm's campaign do it on a practical political basis. Chisholm says that she doesn't expect to win the nomination, but wants enough power to be able to have a say in who the candidate will be. [CBS] Republican presidential challenger Pete McCloskey pledged, if he is elected, to hold monthly meetings with a joint session of Congress. [CBS] Senator Hubert Humphrey entered the West Virginia Democratic presidential primary and called for tax reform. [CBS] The Federal Communications Commission announced rules for cable TV. [CBS] A economic report says that it will take 20 years to meet the Nixon administration's goal of 4% unemployment, due to the postwar baby boom. [CBS] The wage-price controls enforcement officer charged organized labor and the Democratic party with waging a campaign to scuttle the President's economic stabilization program. [CBS] A settlement may be near in the West coast dock strike. Union leader Harry Bridges testified before Congress on the President's proposal for legislation to end the strike. [CBS] The Bureau of Narcotics and Dangerous Drugs will try to detect marijuana fields via satellite. If the experiment works, drug crops can be controlled from an orbiting policing system. [CBS]

Stock Market Report

Dow Jones Industrial Average: 903.15 (-2.70, -0.30%)
S&P Composite: 104.64 (-0.04, -0.04%)
Arms Index: 0.89

	Issues	Volume*
Advances	607	7.94
Declines	837	9.69
Unchanged	309	2.25
Total Volume		19.88

* 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 2, 1972	905.85	104.68	24.07
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