News stories from Tuesday February 15, 1972

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

Attorney General John Mitchell has resigned his post to manage President Nixon's re-election campaign. Mitchell's wife Martha was saddened by the move. Attorney General nominee Richard Kleindienst said that he too is sad to see Mitchell leave office, but flattered at being nominated to replace him. Senate liberals will oppose the conservative Kleindienst.Senator Barry Goldwater praised Kleindienst, but Senator Birch Bayh said that he is skeptical about Kleindienst's nomination. Senate Judiciary Committee chairman James Eastland called Kleindienst a worthy successor to Mitchell, and scheduled confirmation hearings. [CBS] The 24-hour allied Tet cease-fire ended; U.S. bombing resumed. [CBS] During December's air raids over North Vietnam, three U.S. jets were shot down and three pilots were captured. An interview with one captured flyer, David Hoffman, has been released. He described being shot down and captured and says he is being treated well. Hoffman urged his family to plead for peace so that the POWs can be released. [CBS] Defense Secretary Melvin Laird said that the Soviet Union is ahead of the United States in the development of nuclear weapons; Laird urged more defense spending. [CBS] President Anwar Sadat of Egypt is reported to have received very little military aid from Russia during his recent trip there. [CBS] British Prime Minister Edward Heath called for an end to the coal miners strike. More than a million workers have been laid off due to the power shortage. [CBS] A federal judge issued a warrant for the arrest of Mrs. Clifford Irving. She faces charges of fraud and forgery in Switzerland for cashing a check made out to Howard Hughes' there. [CBS] The White House disputed the authenticity of a memo produced by AFL-CIO president George Meany, quoting presidential aide George Bell as stating that Nixon would receive a hostile reception at the AFL-CIO convention last November. [CBS] Senate Republican leader Hugh Scott stated that he prefers legislation instead of a constitutional amendment to prohibit busing for racial balance. Senate Democratic Leader Mike Mansfield said that an amendment would be too time-consuming. [CBS] AFL-CIO leaders met in Florida, where the issue of busing was discussed. Union leaders reviewed Democratic presidential hopefuls Hubert Humphrey, Vance Hartke and Edmund Muskie.Organized labor has clarified its support of busing; AFL-CIO president George Meany approves busing to improve the quality of education, but deplores using the issue for political gain. Humphrey stated that compulsory busing doesn't work; Muskie said that the objective is the quality education of all children, and busing is the least desirable answer. [CBS] The school boycott by whites has eased and attendance has increased in Augusta, Georgia, where parents are protesting busing. However, the boycott continued in schools directly involved by the busing order. Students burned I.D. cards denoting buses and schools. Congressman Fletcher Thompson congratulated parents on their stance against busing. [CBS] The Senate voted to require the enforcement of job discrimination bans through courts. The Equal Employment Opportunity Commission will not be able to issue cease and desist orders on its own. [CBS] The Wall Street Journal reported that Pay Board chairman George Boldt was entertained by General Electric in December. Boldt's host was Virgil Day, G.E. vice president and a business member of the Pay Board. [CBS] Rep. Wilbur Mills visited New Hampshire, where a write-in campaign on his behalf is underway. Mills, the chairman of the House Ways and Means Committee, insists he isn't running for president although a "Draft Mills" program is promoting him. Mills addressed the New Hampshire state legislature concerning revenue sharing, but he claims to be a reluctant candidate and disavowed involvement in the draft campaign. [CBS] In Miami Beach, New York Mayor John Lindsay encountered heckling while campaigning, mostly from former New York residents now retired and living in Florida. [CBS]

Stock Market Report

Dow Jones Industrial Average: 914.51 (+4.02, +0.44%)
S&P Composite: 105.03 (+0.44, +0.42%)
Arms Index: 0.59

	Issues	Volume*
Advances	822	11.03
Declines	606	4.81
Unchanged	316	1.93
Total Volume		17.77

* 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 14, 1972	910.49	104.59	15.84
February 11, 1972	917.59	105.08	17.85
February 10, 1972	921.28	105.59	23.46
February 9, 1972	918.72	105.55	19.85
February 8, 1972	907.13	104.74	17.39
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