News stories from Monday May 24, 1971

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

The murder trial of Black Panthers Bobby Seale and Ericka Huggins in New Haven, Connecticut, cost $1 million; it took four months to select a jury. The jury was unable to agree on any charges against either defendant so the judge declared a mistrial; the prosecution will ask for a new trial. [CBS] The National Guard is patrolling Chattanooga, Tennessee after a riot followed black soul singer Wilson Pickett's refusal to perform if he was not paid in advance. Firebombs caused several fires; the mayor called in the National Guard after local police were on duty for 72 straight hours. 300 people were arrested for curfew violations. [CBS] The Justice Department has admitted using wiretapping to obtain evidence in the "Harrisburg 7" case. [CBS] The Congressional Black Caucus called the Nixon administration's reply to their demands for civil rights policy changes "disappointing". Rep. Charles Diggs said that the administration's reply shuts off the possibility of new, promising initiatives. Presidential aide Leonard Garment said that President Nixon is willing to meet with the Black Caucus again. [CBS] A Gallup poll indicates that 67% believe they are not being told all they should know about the Vietnam war; White House press secretary Ron Ziegler disputed the findings. [CBS] North Vietnamese guerrillas destroyed 2 million gallons of fuel in a raid on the U.S. base at Cam Ranh, South Vietnam; U.S. troop strength in South Vietnam is down to 259,300. [CBS] White House adviser Robert Finch reported that the military is discharging drug addicts at the rate of 20,000 per year; he added that measures to combat drug abuse have been ineffective. [CBS] Col. Oran Henderson, who commanded the brigade that was involved in the My Lai massacre, said that he believes most U.S. brigades in South Vietnam have had their own version of My Lai; he stated that he feels no guilt and believes that the U.S. Army is on trial. Henderson says that he is trying to prove his own innocence in order to prove the innocence of the entire corps of officers. [CBS] It was announced that the next session of the Strategic Arms Limitation Talks will be held in Helsinki, Finland, in July. [CBS] Israeli Prime Minister Golda Meir praised President Sadat's handling of the Egyptian government's reorganization. [CBS] Over 800 are known to be dead from the recent earthquake in Turkey; scientists in Los Angeles are trying to develop a way to predict earthquakes. [CBS] Navy contract overseer Gordon Rule says that Congress shouldn't approve the $250 million loan to Lockheed Aircraft Corporation in order to keep other companies from also demanding loans. [CBS] Former Senator Thomas Dodd died today of a heart attack. [CBS] President Nixon's daughter, Julie Eisenhower, has accepted a job teaching fourth grade in Atlantic Beach, Florida. [CBS] A Senate committee has begun investigating plans for a power plant in the southwest; opponents of the plant fear air pollution and strip mining. Six plants which are being built or have been completed are on or near Indian lands; Indians oppose the strip mining which is used to provide coal for the plants. Power company consultant Peter McTague said that electric service to areas related to the plants will be curtailed if the construction timetable is upset. [CBS] The FDA ruled that foods with geographic names must actually come from those places. [CBS]

Stock Market Report

Dow Jones Industrial Average: 913.15 (-8.72, -0.95%)
S&P Composite: 100.13 (-0.86, -0.85%)
Arms Index: 1.29

	Issues	Volume*
Advances	379	2.45
Declines	993	8.26
Unchanged	289	1.36
Total Volume		12.07

* 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 21, 1971	921.87	100.99	12.09
May 20, 1971	923.41	101.31	13.34
May 19, 1971	920.04	101.07	11.74
May 18, 1971	918.56	100.83	17.64
May 17, 1971	921.30	100.69	15.98
May 14, 1971	936.06	102.21	16.43
May 13, 1971	936.34	102.69	17.64
May 12, 1971	937.46	102.90	15.14
May 11, 1971	937.25	102.62	17.73
May 10, 1971	932.55	102.36	12.81