News stories from Tuesday May 23, 1972

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

The U.S. and the Soviet Union will cooperate in cleaning up the environment and in medical research. The Kremlin Grand Palace in Moscow was the scene of the signing of the agreements. Champagne toasts followed the signings; Leonid Brezhnev spilled his champagne. Secret talks, believed to be about Vietnam, were held for three hours. The limitation of nuclear missiles was discussed at another meeting. [CBS] Mrs. Nixon went sightseeing in Moscow and visited a school where students begin studying English in the second grade. The students sang a Russian song for her and played a game of basketball. A subway ride and a tea party with the wives of the Soviet leaders is also on the First Lady's agenda. Mrs. Nixon stated that she likes Moscow because of its historical interest. [CBS] U.S. jets continued air strikes over North Vietnam, averaging 335 missions in each of the past five days. Six bridges on the rail line to China have been knocked out, and a transformer station supplying electricity to military bases in Hanoi was damaged. Pentagon officials say that bombings of North Vietnam are being expanded to include industrial plants as well as transportation lines and military targets. [CBS] The Reuters news agency reported from Peking that the Soviet Union will not divert merchant ships from North Vietnam's mined ports to Chinese harbors. In Paris, the North Vietnamese representative to the peace talks claimed that the U.S. mines are being cleared away.U.S. Admiral William Mack stated that the mine blockade is a complete success. He doesn't think that North Vietnamese ships can sweep the kind and number of mines in their harbors. Mack believes that the blockade is already being effective and cutting North Vietnamese military power in South Vietnam. [CBS] Fighting was reported on South Vietnam's three main fronts as well as in the Mekong Delta. North of Hue, Communist forces again tried to break through South Vietnam's defense line. A village 25 miles north of Hue was set on fire by enemy shells. South Vietnamese marines knocked down shops and dwellings in order to salvage materials, but the flames spread as citizens fled. Marine reinforcements are heading for outposts near Hue. U.S. adviser Maj. Robert Sheridan said that a Viet Cong force with 118 tanks attempted to come through the South Vietnamese marines again; 12 tanks were destroyed. [CBS] Britain's peace plan with Rhodesia has been abandoned after blacks expressed overwhelming opposition. [CBS] Arthur Bremer, who is charged with shooting Alabama Governor George Wallace, was indicted in Maryland. [CBS] Governor Wallace continues to improve but his paralysis remains unchanged. Democratic party chairman Lawrence O'Brien visited Wallace in Holy Cross Hospital. O'Brien reported that Wallace expects to attend the Democratic national convention in Miami Beach, and he called Wallace a serious candidate and a serious campaigner. [CBS] George McGovern is favored to win the Oregon and Rhode Island presidential primaries. McGovern denied speculation that he will offer the V.P. position to Senator Edward Kennedy, but David Broder of the Washington Post reported that McGovern will give Kennedy the first chance at being his running mate. [CBS] The Senate's 10 most popular lecturers received over $300,000 in fees for speeches and articles. Senators Humphrey, Hatfield, McGovern, Dole and Bayh submitted figures to the secretary of the Senate. [CBS] The Nixon administration designated 122 areas as medical poverty areas. 150 government doctors, 20 dentists and 72 nurses will be sent into those areas. Fees will be charged based on ability to pay. [CBS]

Stock Market Report

Dow Jones Industrial Average: 962.30 (-3.01, -0.31%)
S&P Composite: 109.78 (+0.09, +0.08%)
Arms Index: 0.93

	Issues	Volume*
Advances	649	6.61
Declines	762	7.24
Unchanged	356	2.56
Total Volume		16.41

* 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*
May 22, 1972	965.31	109.69	16.03
May 19, 1972	961.54	108.98	19.58
May 18, 1972	951.23	107.94	17.37
May 17, 1972	941.15	106.89	13.60
May 16, 1972	939.27	106.66	14.07
May 15, 1972	942.20	106.86	13.60
May 12, 1972	941.83	106.28	13.99
May 11, 1972	934.83	105.77	12.90
May 10, 1972	931.07	105.42	13.87
May 9, 1972	925.12	104.74	19.91