News stories from Monday October 4, 1971

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

President Nguyen Van Thieu won 91% of the vote in South Vietnam; 85% of voters turned out. Of 159 members of the newly-elected legislature, 65 are supporters of Thieu and 33 are against him. Thieu did not attend the opening of the legislature, as he has in the past. An election representative in Danang claimed that results were tampered with; a reporter stated that ballot box stuffing and rigged results were widespread. [CBS] The enemy offensive near the Cambodian border is in its ninth day. [CBS] The Senate voted to limit spending for ground action in Laos; the limit is the same amount that the administration requested. [CBS] Secretary of State William Rogers outlined a six-point plan for Mideast peace at the United Nations. Rogers rejected Soviet requests for a disarmament conference on the grounds that China's entrance to the U.N. would provide a forum for such talks. Rogers urged that both Chinas be admitted to the United Nations, but China has vowed that it wouldn't come in to the U.N. as long as Taiwan remained a member. A leadership struggle is going on in China, at lower levels. [CBS] The French ambassador to China said that something going on there, but he can't say exactly what. [CBS] George Giffe, a real estate salesman from Nashville, Tennessee, killed a pilot, his estranged wife and himself after his hijacking attempt was foiled in Jacksonville, Florida. The plane took off for the Bahamas, but the pilot persuaded Giffe that the plane needed refueling; the FBI was waiting in Jacksonville, where agents shot out the tires and the engine. A second hijacker was arrested. [CBS] In Monroe, Louisiana, an anti-drug pep rally was held for 12,000 youths. President Nixon spoke to the rally via telephone from Florida, but was cut off during his remarks and then reconnected a few minutes later. [CBS] President Nixon will appoint a five-member board to study the dockworkers strike; it is the first step towards invoking the Taft-Hartley back-to-work law. AFL-CIO president George Meany, speaking to the House Banking Committee, urged Congress to re-assert its control over the economy. [CBS] Federal judge Stephen Roth has given Detroit 60 days and the state of Michigan 120 days to come up with plans for ending school desegregation. Homeowners presented a plan for the integration of 61 school districts within 12 miles of Detroit. [CBS] The House voted 207-174 to delay pay raises for federal employees for six months. [CBS] The Senate voted 65-4 to add a military pay raise of $380 million in a move to create an all-volunteer army. [CBS] It was announced that postage rates will rise next spring. [CBS] The Supreme Court paid tribute to the late Justice Hugo Black and ailing Justice John Harlan. Rep. Richard Poff has removed himself from consideration for a Supreme Court vacancy due to possible controversy like the two previously-rejected Nixon appointees. [CBS] A reporter in Brussels was shown the stolen Jan Vermeer painting "The Love Letter" and told that it would be returned if $4 million is raised for East Pakistani refugees and if the Brussels and Amsterdam art museums organize against world hunger. [CBS] Yippie leader Abbie Hoffman got a haircut and urged youth to work within the system. Hoffman said that long hair was once a symbol of the rejection of American values, now it's just an affectation. [CBS]

Stock Market Report

Dow Jones Industrial Average: 895.66 (+1.68, +0.19%)
S&P Composite: 99.21 (+0.28, +0.28%)
Arms Index: 0.84

	Issues	Volume*
Advances	823	8.12
Declines	579	4.78
Unchanged	294	1.68
Total Volume		14.58

* 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*
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
September 20, 1971	905.15	99.68	9.54