News stories from Tuesday October 5, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Foreign policy adviser Henry Kissinger will go to Peking to make arrangements for President Nixon's upcoming visit. Nixon and Kissinger want the trip to take place before spring, so the trip won't be thought of as a political gimmick; the best dates are between December 1 and January 15. Kissinger is convinced that the recent mysterious happenings in China won't threaten the President's trip. [CBS]
- South Vietnamese figures show that President Nguyen Van Thieu got 94.3% of the vote. An opposition group, led by Vice President Nguyen Cao Ky, will ask the court to rule the results invalid and ask for new elections to be held; General Minh has already filed a similar suit. [CBS]
- Fighting in Vietnam near the Cambodian border was reported to be over. [CBS]
- The Senate rejected a bill to halt all bombing in Indochina by a vote of 64-19. Senator Mike Gravel sponsored the bill. [CBS]
- Organized labor attacked President Nixon's economic plan. AFL-CIO president George Meany spoke at a labor convention and criticized the administration's use of television for its new rhetoric, and vowed to resist any attempt to limit labor's right to strike. Meany stated that labor will cooperate in the fight against inflation, but won't be patsies for the failure of the administration's economic plan. [CBS]
- A five-man board is studying the west coast dockworkers strike as a prelude to invoking the Taft-Hartley Act. [CBS]
- Labor Secretary James Hodgson reported that both sides in the coal strike will resume talks. [CBS]
- Gravediggers in San Francisco will vote to end their four-month strike. 1,800 bodies have accumulated during that time, and could become a health hazard. [CBS]
- A truck went out of control on a bridge in Tampa and ran over motorcycle rider Steven Wallin. Wallin suffered only a slight cut. [CBS]
- Jerome Lowinger, a fireman from Pontiac, Michigan, confessed to being the FBI tipster in the Ku Klux Klan bus bombing. [CBS]
- Senator Birch Bayh's committee held a hearing on his bill to ban handguns. The Justice Department agrees with the concept but wants to submit its own bill, which is not yet ready. Bayh accused the Justice Department of dragging its feet. [CBS]
- Ex-Justice Department representative Charles Rogeman says the Nixon administration's anti-crime plan is a boondoggle, and he told a House hearing that further grants should be held up unless the government reveals how the money is spent. [CBS]
- A new mass transit system will begin in San Francisco in January, the $1.5 billion "BART" system. BART's super-quiet and comfortable cars will travel at 50 m.p.h. It will cost $1.30 for a one-way ride; critics complain that low income workers won't be able to afford it. The system is pollution free, landscaped and modern. [CBS]
- The Nixon administration is considering long-term military, economic and political ties with Israel. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 891.14 (-4.52, -0.50%)
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* |
| October 4, 1971 | 895.66 | 99.21 | 14.57 |
| October 1, 1971 | 893.98 | 98.93 | 13.40 |
| September 30, 1971 | 887.19 | 98.34 | 13.49 |
| September 29, 1971 | 883.83 | 97.90 | 8.58 |
| September 28, 1971 | 884.42 | 97.88 | 11.25 |
| September 27, 1971 | 883.47 | 97.62 | 10.22 |
| September 24, 1971 | 889.31 | 98.15 | 13.46 |
| September 23, 1971 | 891.28 | 98.28 | 13.25 |
| September 22, 1971 | 893.55 | 98.47 | 14.25 |
| September 21, 1971 | 903.40 | 99.34 | 10.64 |