News stories from Tuesday February 22, 1972

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

President Nixon and Henry Kissinger met for four hours with Chinese Premier Chou En-lai. Nixon and Chou have established a rapport and are discussing a wide range of issues. The Communist newspaper Peking Daily gave front-page coverage to Nixon's visit, with headlines and pictures. The publicity indicates that the Chinese are impressed with the talks so far. [CBS] Mrs. Nixon went sightseeing in Peking, visiting the summer palace where emperors spent their summers 350 years ago during the Ching Dynasty. She visited a zoo and saw the pandas, two of which Premier Chou plans to ship to America in exchange for President Nixon's gift of musk oxen. The first lady also visited the Peking Hotel's kitchen. [CBS] The Chinese have permitted American reporters to view schools and communes. Politics in the classroom extends even to music students; schools have factory workshops where students learn to carry out Mao's exhortation to serve the people.The Red Star commune, which is said to be a prototypical example, includes 75,000 people who live and work there. Rice production has increased, even to the point of a possible surplus. Hogs and horses are raised. Machine shops aren't as successful as the agriculture. Homes have no plumbing or lights, but the people eat well. [CBS] Arab commandoes held Joseph Kennedy III and other passengers of a hijacked jumbo jet. The plane with the late Senator Robert Kennedy's son aboard was en route from New Delhi to Athens but was hijacked to Aden, South Yemen.The South Yemen government said that all 172 passengers were released by the Palestine Liberation Force, but an airline official stated that 120 males are still captives. The Associated Press and Reuters are saying that all passengers have now been released. Senator Edward Kennedy said that he is encouraged by reports of his nephew's safety, but is awaiting official information from the State Department. [CBS] A Irish Republican Army bomb killed seven people in an army officers' mess hall in Aldershot, England. Five of the dead were waitresses, one a male dishwasher, and one soldier who was a Catholic chaplain. The IRA said that the bombing was revenge for 13 civilians who were killed in Londonderry, Northern Ireland, by British soldiers on "Bloody Sunday". [CBS] A U.S. Phantom jet intercepted a North Vietnamese MiG-21 over Laos and shot it down. Other U.S. planes struck anti-aircraft and missile sites in North Vietnam. [CBS] In Cambodia, more fighting was reported near temple ruins. The 9th century ruins of Angkor Wat are now controlled by North Vietnam, who consider the site safe from U.S. bombing. Cambodians are trying to surround the temples to cut off supplies. [CBS] East Germany will permit West Germans to cross through the Berlin Wall at Easter for the first time since 1966. [CBS] The Senate passed a bill strengthening the government's power to fight discrimination in employment. The Equal Employment Opportunity Commission may now file job discrimination suits in federal courts. [CBS] The Senate Judiciary Committee opened hearings on the nomination of Richard Kleindienst as Attorney General; confirmation is expected. [CBS] The Supreme Court will review a $165 million case against the Hughes Tool Company, which is owned by Howard Hughes. TWA had filed an antitrust suit against Hughes Tool 10 years ago. [CBS] Navy Secretary John Chafee announced that no more Naval officers would take graduate courses at any of the 15 universities which are discontinuing their Naval ROTC programs. The Pentagon has contradicted Chafee's order, saying that it will continue to send military men to the most appropriate graduate schools. This nullifies the request of Edward Hebert, chairman of the House Armed Services Committee. Hebert claimed that the Pentagon will withdraw its statement, but Chafee says that the Pentagon statement reflects Navy policy. [CBS] The Environmental Protection Agency proposed that gas stations be required to sell unleaded gasoline by 1974. Higher gas prices and reduced automotive power may result. [CBS] The Florida Supreme Court ruled that anyone running for president in New Mexico must also run in Florida whether he approves or not. Therefore Los Angeles Mayor Sam Yorty must remain on the Florida ballot though he will probably lose. [CBS] In Peking, President Nixon and Premier Chou attended a ballet. Chiang Ching, the wife of Mao Tse-tung and the mother of the "cultural revolution", sat between the President and Mrs. Nixon. The ballet, named The Red Detachment of Women, exemplifies the use of art solely to serve the state. [CBS]

Stock Market Report

Dow Jones Industrial Average: 913.46 (-4.06, -0.44%)
S&P Composite: 102.29 (-2.99, -2.84%)
Arms Index: 0.85

	Issues	Volume*
Advances	724	8.03
Declines	721	6.77
Unchanged	313	1.87
Total Volume		16.67

* 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 18, 1972	917.52	105.28	16.59
February 17, 1972	922.03	105.59	22.33
February 16, 1972	922.94	105.62	20.67
February 15, 1972	914.51	105.03	17.77
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