News stories from Wednesday July 14, 1971

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

Telephone workers are out on strike; the Communication Workers of America says that the strike will last at least two weeks; supervisors are filling in for operators. AT&T vice president Paul Lund recalled strikes which lasted for six months, during which telephone companies continued to provide service. Union president Joseph Beirne believes that equipment breakdown will put the American communications industry in serious trouble within six weeks; automated equipment is handling most calls now. [CBS] An epidemic of sleeping sickness is killing horses in Texas. Horses are now being quarantined, and a horse can't be moved unless its owner can prove that it was vaccinated at least 14 days prior to the epidemic. The government is spraying to control mosquitoes which carry the disease, and is launching a vaccination program.The U.S. communicable disease center reported that the fatality rate of horses with sleeping sickness could be as high as 80%, and seven people in the Brownsville, Texas, area have the disease; it is impossible to predict how far the disease will spread. [CBS] South Vietnam Vice President Nguyen Cao Ky charged President Nguyen Van Thieu with running a dictatorship, rigging the upcoming elections and censoring the press. [CBS] American forces opened a new artillery base near the DMZ in South Vietnam. [CBS] Australian labor party leader Gough Whitlam says that the Chinese Premier Chou En-lai is willing to join the Geneva conference on Vietnam if it is held in Asia. [CBS] King Hassan II of Morocco stated that the attempted coup was "Libya-styled"; Libya has broken off diplomatic relations with Morocco. [CBS] The Jordan army routed Palestinian guerrillas from five villages. [CBS] Capt. Thomas Culver was fined $1,000 and reprimanded for his participation in an antiwar demonstration; Culver will appeal his conviction. [CBS] The American Friends Service Committee and a Philadelphia antiwar group filed a suit against the FBI claiming harassment, intimidation and surveillance. [CBS] Western states' governors are holding a conference at Jackson Hole, Wyoming. Oregon Governor Tom McCall said that unless California Governor Ronald Reagan mends his differences with President Nixon, he could do more to hurt Nixon's re-election chances than Rep. Pete McCloskey. Reagan says that he considers himself the father of the 11th commandment which states that Republican party members do not speak against each other publicly. After meeting with Reagan, McCall said that Reagan is a gung-ho Nixon man. [CBS] The Senate upheld President Nixon's veto of the $5.6 billion economic development bill; industrial production was up 0.4% for June. [CBS] Today's rehearsal countdown for Apollo 15 was marred by a momentary electrical power failure. [CBS] An environmental group filed a lawsuit to halt construction of the Tennessee-Tombigbee Waterway project. [CBS] The extent of the corn blight is still uncertain; the blight may be as bad as last year, but blight-resistant corn is expected to be developed by next year. [CBS] Senator Edward Kennedy accused the American Medical Association of blocking reforms to improve health care. [CBS] Coal miners suffer from occupational diseases such as black lung disease. Kentucky miner Bill Eversall says that he cannot sleep on his back; Eversall has black lung disease at the age of 33 and can no longer work in the mines. The government has denied his claim for compensation because x-rays do not reveal that he has the disease. The Social Security administration defends its use of x-rays, though some doctors say that x-rays are unreliable for determining the presence of black lung. The agency admits that the number of people applying for disability benefits affects the chances of a claim being approved. [CBS]

Stock Market Report

Dow Jones Industrial Average: 891.21 (-1.17, -0.13%)
S&P Composite: 99.22 (-0.28, -0.28%)
Arms Index: 0.87

	Issues	Volume*
Advances	596	5.90
Declines	738	6.36
Unchanged	318	2.12
Total Volume		14.38

* 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*
July 13, 1971	892.38	99.50	13.54
July 12, 1971	903.40	100.82	12.02
July 9, 1971	901.80	100.69	12.64
July 8, 1971	900.99	100.34	13.92
July 7, 1971	895.88	100.04	14.52
July 6, 1971	892.30	99.76	10.44
July 2, 1971	890.19	99.78	9.96
July 1, 1971	893.03	99.78	13.09
June 30, 1971	891.14	99.70	15.41
June 29, 1971	882.30	98.82	14.46