News stories from Tuesday February 8, 1972

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

A tentative settlement was reported in the West coast dock strike. Mediator Sam Kagel announced that the International Longshoremen's Workers Union and the Pacific Maritime Association have reached agreement on economic issues; other issues will he mediated. The containerized cargo issue has been settled. Union president Harry Bridges will recommend ratification of the agreement. [CBS] A federal appeals court ordered a temporary stay in the merger of Richmond, Virginia, schools with two suburban counties, but stated that planning for the merger should continue pending a final court decision. [CBS] President Nixon addressed Congress on environmental goals. Nixon urged Congress to act on 18 of his proposals from last year, and he presented new ones. The new proposals include a ban on the killing of predators on federal land; regulation of off-road vehicles; locating highways and airports to minimize environmental damage; taxing smokestack pollution, and discouraging development on wetlands. [CBS] President Thieu of South Vietnam was angered by Secretary of State Rogers' statement that Thieu's stepping down from office one month prior to elections is negotiable. Thieu fears that President Nixon may make a peace deal behind his back during the President's trip to China. [CBS] Northern Ireland Prime Minister Brian Faulkner rejected unification of his province with the Republic of Ireland; Ulster Catholics demand unification. [CBS] A crewman on a British warship in Rio de Janeiro was machine-gunned to death, supposedly as an act of solidarity with the IRA. [CBS] Serious organizational problems have been reported in Hubert Humphrey's presidential campaign. Humphrey's staff reacted angrily to CBS reports of campaign problems, but Senator Humphrey does not deny that he threatened to drop out of the race due to these difficulties, though now he says he does not intend to do so. Robert Hurwitz, Humphrey's campaign director in Florida, accused CBS of using electronic monitoring devices. [CBS] The first presidential primary will be held in one month in New Hampshire. In Manchester, George McGovern is using a radio commercial in his campaign, featuring a 1968 recording of the late Senator Robert Kennedy. Muskie campaign coordinator Tony Podesta says that the tape intentionally deceives the public, with many people thinking that the voice is Senator Edward Kennedy's. McGovern campaign coordinator Joseph Grandmaison stated that no one but Muskie's people gets the voices confused. [CBS] Budget director George Shultz told Congress that the Nixon administration won't ask for any more taxes this year, including a value-added tax. [CBS] The Commerce Department reported that the textile industry suffered a $2 billion trade deficit last year. [CBS] A jury was selected in the Harrisburg, Pa., trial of Reverend Philip Berrigan and six co-defendants. The defendants are charged with conspiring to kidnap presidential aide Henry Kissinger as a protest against the Vietnam war. Defense attorney Ramsey Clark objected to the decision to sequester the jury, but judge R. Dixon Herman insists on shielding the jury from publicity regarding the trial. [CBS] Clifford Irving and his wife Edith appeared before a grand jury in New York for questioning about the Howard Hughes affair. [CBS] Television producer Norman Lear, speaking before Senator Sam Ervin's freedom of the press hearings, said that there aren't more television shows like "All in the Family" because network officials think that the average viewer has the mentality of a 12-year-old. A representative of the Writers Guild of America said that a poll of television writers showed that 86% of them claimed to be victims of censorship by the networks. [CBS] Two 13-year-olds escaped from a home for emotionally disturbed juveniles in Upper Marlboro, Md., and broke into the home of Mr. and Mrs. Kirk Tucker. They kidnapped Mrs. Tucker and took her to Covington, Virginia. Police rescued her. [CBS] Josh Gibson was named to the Baseball Hall of Fame. He was never allowed to participate in the major leagues because he played before Major League Baseball integrated in 1947. Buck Leonard was also selected to the Hall of Fame. [CBS] The Navy turned down the applications of two women who were seeking appointment to the U.S. Naval Academy. Navy Secretary John Chafee said that the women will be accepted into the Navy ROTC program. The women were sponsored by Senator Jacob Javits and Rep. Torbert McDonald. [CBS] Officials of the Catholic Church criticized the American Bar Association for endorsing legalized abortion. Nonetheless, the ABA stood by its praise of Senator Robert Packwood, who has introduced legislation to legalize abortion throughout the nation. [CBS]

Stock Market Report

Dow Jones Industrial Average: 907.13 (+3.16, +0.35%)
S&P Composite: 104.74 (+0.20, +0.19%)
Arms Index: 0.77

	Issues	Volume*
Advances	636	7.75
Declines	797	7.49
Unchanged	318	2.15
Total Volume		17.39

* 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 7, 1972	903.97	104.54	16.93
February 4, 1972	906.68	104.86	17.89
February 3, 1972	903.15	104.64	19.88
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