News stories from Wednesday May 31, 1972

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

Israeli Prime Minister Golda Meir is accusing Lebanon of sheltering the organization of Arab guerrillas who were responsible for yesterday's attack at the Tel Aviv Airport. 25 people were killed by a team of hired Japanese terrorists who opened fire inside a terminal with submachine guns and grenades. Meir says that Beirut is the terrorists' headquarters.78 people were wounded in the airport massacre. 26 Puerto Rican pilgrims, arriving for a tour of the Holy Lands, were among the victims. The Popular Front for the Liberation of Palestine claimed responsibility for the killings. Two of the three attackers were killed, and the third was captured. Israeli Transportation Minister Shimon Peres vowed that the government will take measures to meet this new menace facing air traffic; defense forces are implementing new, strict security procedures. Israeli retaliation against Arabs is expected. [CBS] President Nixon is scheduled to arrive in Washington at 9:00 p.m. EDT tomorrow. He will fly by helicopter from Andrews Air Force Base to the Capitol to address a joint session of Congress. His address will be broadcast live at 9:30 p.m. EDT.The President is visiting Poland today after his stop in Iran, which was marred by a series of terrorist bombings. Security was tight for Nixon's airport arrival in Warsaw. The Premier and President of Poland met Nixon, but the Communist Party secretary did not. President Nixon greeted a cheering crowd and laid a wreath on the tomb of the Unknown Soldier. Nixon and Polish leaders will discuss European security, Radio Free Europe broadcasts and trade. [CBS] The President's visit to Iran was marred by bombings. One bomb exploded at a memorial site 45 minutes before President Nixon was due to arrive to lay a wreath on the tomb of the Shah's father. The grounds were checked by security men, and Nixon proceeded. Another bomb went off at the U.S. Information Service office. Press secretary Ron Ziegler confirmed that more bombs exploded elsewhere. One of them injured U.S. General Harold Price and killed two others. [CBS] Secretary of State Rogers left Russia for Bonn, West Germany, for talks with NATO allies. They agreed to have a major conference to re-examine European security. NATO will make a proposal to Russia for mutual military reductions in Europe. [CBS] During a press party at a Teheran night club, a Persian belly dancer wound up on the lap of foreign policy adviser Henry Kissinger. He says that they discussed strategic arms limitations. [CBS] U.S. jets flew more heavy raids in North Vietnam. Rail and highway bridges at Vinh were destroyed, as was a fuel depot. [CBS] Fighting continues in Kontum in South Vietnam's Central Highlands; 100 North Vietnamese soldiers offered to surrender. President Nguyen Van Thieu visited, saying that North Vietnam has failed in its attack on Kontum, and he claimed that his visit proves the town is secure. [CBS] Rep. Wilbur Mills and Senator Mike Mansfield introduced tax reform measures which would eliminate 54 tax exemptions. [CBS] George McGovern and Hubert Humphrey held another televised debate in California. Humphrey quoted McGovern's statement which appeared in the Wall Street Journal, in contrast to what McGovern said in the debate regarding corporate taxes. Humphrey supporters think that McGovern will lose votes in California because Humphrey's stands on welfare, taxes and defense are better known. Humphrey campaign manager Jack Chestnut charged that McGovern is trying to buy the election and has violated the agreement among candidates limiting the amount to be spent on radio and television commercials.McGovern says that his campaign centers on the basic issues more than any presidential campaign in his memory. McGovern is preparing for a confrontation with President Nixon and is endeavoring to erase his radical image while avoiding a brawl with Humphrey. McGovern denied that his campaign has overspent the agreed-upon advertising allowance; McGovern workers remember when they made similar charges against Senator Muskie. [CBS] Mrs. George Wallace reports that her husband has experienced some movement in his ankle. Cornelia Wallace is sure that the governor will be at the Democratic national convention. She stated that she thought Senators McGovern and Humphrey were more intelligent than to say they would refuse to have George Wallace as a running mate; she noted that Wallace has not even ruled out the possibility of having Rep. Chisholm on his ticket. Mrs. Wallace said that Arthur Bremer has not been discussed much. Governor Wallace is taking the situation as a challenge. [CBS] Senator John McClellan failed to poll more than 50% in the Arkansas Democratic primary. He will face Rep. David Pryor in a runoff. [CBS] The Senate Labor Committee heard officials of the federal government and ones from West Virginia deny responsibility for the dam collapse which killed 118 people recently. The director of the U.S. Bureau of Mines stated that the agency had no responsibility. The chief engineer of the West Virginia Public Service Commission said that his group is not responsible once the dams have been built. [CBS] Today was the deadline for the Environmental Protection Agency to announce approval or disapproval of state plans for meeting federal pollution control standards. EPA administrator William Ruckelshaus approved the cleanup plans of nine states: Alabama, Mississippi, Florida, North Carolina, West Virginia, Connecticut, North Dakota and Oregon. The 41 other states will have to make changes. Ruckelshaus granted a two-year extension to 25 cities in meeting deadlines for holding air pollution to acceptable levels. [CBS] The Civil Aeronautics Board has abolished its consumer advisory committee, which had been set up to look after passengers' interests. The committee chairman, an associate of Ralph Nader, said that the committee's work was ignored by the board anyway. [CBS]

Stock Market Report

Dow Jones Industrial Average: 960.72 (-10.46, -1.08%)
S&P Composite: 109.53 (-0.82, -0.74%)
Arms Index: 1.17

	Issues	Volume*
Advances	399	3.31
Declines	1,068	10.35
Unchanged	294	1.57
Total Volume		15.23

* 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 30, 1972	971.18	110.35	15.81
May 26, 1972	971.25	110.66	15.73
May 25, 1972	969.07	110.46	16.48
May 24, 1972	965.46	110.31	17.87
May 23, 1972	962.30	109.78	16.41
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