News stories from Wednesday September 22, 1971

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

At Fort McPherson, Georgia, the jury found Capt. Ernest Medina not guilty of all charges after one hour of deliberation. Medina said that he is extremely happy and has always believed he would be proven innocent, but he still intends to resign from the Army. Attorney F. Lee Bailey introduced millionaire Glenn Turner, who contributed nearly $25,000 to pay the costs of the trial; Turner said that he made up his mind to become a millionaire in order to help people.Lt. William Calley remains the only soldier to be convicted in connection with the My Lai massacre. [CBS] The South Vietnamese Senate passed a resolution stating that the uncontested presidential election is against the will of the people; the Associated Press reports that South Vietnam's program to control villages is failing because government officials are concentrating on President Nguyen Van Thieu's re-election. [CBS] U.S. planes bombed enemy positions in the DMZ. [CBS] Communist negotiators called off tomorrow's session of the Paris Peace Talks in protest of the U.S. bombing North Vietnam yesterday. [CBS] The cost of living and wages were both up during August. The consumer price index was up 0.3%; the Bureau of Labor Statistics noted that the figures include data from before the freeze. The price of gasoline was up 3.7%. [CBS] The House Ways and Means Committee tentatively approved President Nixon's tax bill to increase the personal exemption to $700, repeal the 7% auto excise tax and revoke the 10% tax on small trucks. [CBS] Officials in Washington, DC believe that China's political leaders may have been purged earlier in the month; Chinese officials denied that Chairman Mao is dead or dying. Japanese sources report that China has canceled all military leaves. [CBS] The U.S. proposed the "Two Chinas" plan at the United Nations today; Japan co-sponsored the proposal. [CBS] Soviet Communist party leader Leonid Brezhnev arrived in Yugoslavia for talks with President Tito. [CBS] The Berlin agreement implementation talks between East and West Germany remain stalemated. [CBS] An Attica prison parolee was interviewed and said that the riot was originally planned for July 4. The New York prison guards union has threatened to confine inmates to cells beginning October 7th unless they receive riot equipment and instruction in riot control. [CBS] The body of California judge Harold Haley will be exhumed for a new autopsy; Ruchell Magee requested the autopsy in an attempt to prove that Haley was killed by police bullets during the shootout at the Marin County courthouse last year. [CBS] Indian demonstrators tried to make a citizen's arrest of Indian Affairs Deputy Commissioner John Crow; 26 were arrested. [CBS] Congress passed a bill forbidding the upcoming Amchitka Island nuclear test without President Nixon's approval. [CBS] The city of Boston has abandoned its school busing plan; children will return to neighborhood schools. [CBS] San Jose State College psychologists say that their study shows no evidence that sports build character. [CBS]

Stock Market Report

Dow Jones Industrial Average: 893.55 (-9.85, -1.09%)
S&P Composite: 98.47 (-0.87, -0.88%)
Arms Index: 1.47

	Issues	Volume*
Advances	329	2.21
Declines	1,070	10.58
Unchanged	278	1.46
Total Volume		14.25

* 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*
September 21, 1971	903.40	99.34	10.64
September 20, 1971	905.15	99.68	9.54
September 17, 1971	908.22	99.96	11.02
September 16, 1971	903.11	99.66	10.55
September 15, 1971	904.86	99.77	11.08
September 14, 1971	901.65	99.34	11.41
September 13, 1971	909.39	100.07	10.00
September 10, 1971	911.00	100.42	11.38
September 9, 1971	915.89	100.80	15.79
September 8, 1971	920.93	101.34	14.23