News stories from Thursday March 30, 1972

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

The White House rejected calls by Democratic leaders of Congress for a new wage-price freeze if food prices continue to rise. The Agriculture Department reported that the price for raw farm products declined 0.2% in the last month. Retail prices are up, an increase at least partially due to labor costs. The Grand Union supermarket chain announced a 30-day freeze on the prices of its meat and poultry. [CBS] The FBI released crime statistics for 1971, which show an overall 6% increase from 1970. Some large cities reported a decrease in crime in '71, however. [CBS] A fire in a fireworks factory in Bridgewater, Massachusetts, caused a series of explosions; three people were killed. [CBS] Last Sunday in Kizildere, Turkey, terrorists kidnapped two Britons and a Canadian and held them for ransom. The kidnappers were found and killed in a gun battle with police. The hostages had been executed. [CBS] Britain formally took over the government of Northern Ireland. Violence was reported as bombs exploded in Londonderry, Belfast, and Lisburn. [CBS] The jury began deliberations in the trial of Reverend Philip Berrigan and six other antiwar activists in Harrisburg, Pa. Judge R. Dixon Herman reviewed the evidence of the trial for the jury, mentioning only damaging items; defense attorneys were angered. Defense attorney Paul O'Dwyer called the judge's summary "one-sided". Defendant Sister Elizabeth McAlister said she was not surprised by the judge's action. [CBS] A North Vietnamese missile downed an American AC-130 jet over Laos. All 14 crewmen aboard are presumed dead. Communists launched attacks against eight South Vietnamese positions south of the DMZ. [CBS] William Porter, the U.S. ambassador to the Paris Peace Talks, returned to Washington for consultation. [CBS] Four American servicemen were killed in Vietnam last week, 13 were wounded. [CBS] The General Accounting Office reported to Congress that 32 vaccines currently on the market are ineffective, and some can cause serious side effects. Senator Abraham Ribicoff declared that some influenza shots are little better than water. [CBS] The Alabama highway patrol hired its first three black state troopers, in accordance with a federal court order. [CBS] Democrat presidential candidates are campaigning in Wisconsin. Senator Hubert Humphrey, from the neighboring state of Minnesota, needs to win the Wisconsin primary and is calling on organized labor and farmers for support. But George McGovern threatens to cut into Humphrey's rural vote and the Humphrey campaign fears a McGovern upset in Wisconsin. [CBS] Joan Vincent, who represents a families-of-POWs group, criticized a Republican fundraising letter for President Nixon which says that he has brought America out of the Vietnam war. The wording of the letter will be changed. [CBS]

Stock Market Report

Dow Jones Industrial Average: 940.70 (+7.68, +0.82%)
S&P Composite: 107.20 (+0.71, +0.67%)
Arms Index: 0.57

	Issues	Volume*
Advances	900	9.90
Declines	515	3.25
Unchanged	323	1.21
Total Volume		14.36

* 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*
March 29, 1972	933.02	106.49	13.86
March 28, 1972	937.01	107.17	15.38
March 27, 1972	939.72	107.30	12.18
March 24, 1972	942.28	107.52	15.39
March 23, 1972	944.69	107.75	18.38
March 22, 1972	933.93	106.84	15.40
March 21, 1972	934.00	106.69	18.61
March 20, 1972	941.15	107.59	16.42
March 17, 1972	942.88	107.92	16.04
March 16, 1972	936.71	107.50	16.70