News stories from Friday February 25, 1972

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

The Senate passed a tough anti-busing measure. Senator Robert Griffin's amendment forbids courts to order busing for integration. Griffin said that most people, black and white, oppose busing as a tool unless it results in improving the quality of education. Senator Philip Hart claims that the vote will be reversed when absent senators, some of whom are campaigning for president, return to Washington; Hart called Griffin's proposal "segregationist".Senators Edmund Muskie, Hubert Humphrey, Henry Jackson, George McGovern and Vance Hartke are all believed to oppose Griffin's amendment. But Democratic Senator William Proxmire voted for the amendment, saying that he flatly opposes busing. [CBS] President Nixon is spending his last full day in Peking, but he may not have another meeting with Chairman Mao. Nixon's meeting with Premier Chou En-lai today began late and lasted less than one hour. Toasts at today's banquet were less cordial than before; the talks may not be ending as optimistically as they began. [CBS] President Nixon hosted a farewell banquet for Chinese leaders at the Great Hall of the People in Peking. The President declared that differences between the U.S. and China will not keep the two countries from living together in peace. Premier Chou said that the Chinese will work for the normalization of relations with America. The toasts were kind but unenthusiastic, which may indicate that little has been accomplished in these meetings. [CBS] U.S. soldiers were ambushed near Saigon, wounding 21 out of a company of 100 men. Elsewhere, seven soldiers were wounded when their truck convoy was ambushed. South of Danang, five soldiers were wounded accidentally by American helicopter gunships. [CBS] The U.S. delegation canceled next week's session of the Paris Peace Talks, after the Communists walked out of yesterday's session. [CBS] Five U.S. pilots who were shot down over North Vietnam were displayed in Hanoi. Lt. Ralph Galati, Capt. William Schwartfeger, Capt. Kenneth Frazier, Capt. James Cutter and Capt. Edwin Hawley were shown. [CBS] John Taylor, Northern Ireland's Home Affairs Minister, was shot four times in the head and chest. His condition is listed as serious. [CBS] Israeli jets, tanks and infantrymen attacked Arab guerrilla bases in Lebanon. Lebanon charged Israel with aggression; Israel says that the raids are reprisals for guerrilla attacks. [CBS] British coal miners voted to end their seven-week strike and will return to work on Monday. [CBS] Wholesale prices were up 0.8% in January. [CBS] West Germany reportedly paid the biggest ransom in the history of hijacking, $5 million, to prevent five Arab commandos from blowing up a German jet and its crew this week. [CBS] Attorneys for Howard Hughes obtained a restraining order in New York City against four companies that were selling Howard Hughes tee-shirts. [CBS]

Stock Market Report

Dow Jones Industrial Average: 922.79 (+10.09, +1.11%)
S&P Composite: 106.18 (+0.73, +0.69%)
Arms Index: 0.74

	Issues	Volume*
Advances	858	10.52
Declines	576	5.26
Unchanged	303	2.40
Total Volume		18.18

* 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 24, 1972	912.70	105.45	15.86
February 23, 1972	911.88	105.38	16.77
February 22, 1972	913.46	102.29	16.67
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