News stories from Thursday August 5, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A report by a Swedish newspaper of a plan for the release of American POWs is being denied by many sources. Last month a man reportedly chartered a Scandinavian Airlines plane to carry 187 passengers from Vientiane, Laos, to Rome, Italy, for $80,000. The airline said that the man canceled the plane after newspapers reported the story.
In Paris, North Vietnamese negotiator Xuan Thuy called the story a product of someone's excessive imagination, and warned that if President Nixon refuses to set a U.S. withdrawal date from Vietnam, the list of POWs will get longer; White House press secretary Ron Ziegler said that the U.S. was never involved in the plan and never knew about it.
[CBS] - The draft lottery was held today; December 4, 1952 was matched with lottery number 1. [CBS]
- President Nixon appealed to the Senate to pass the draft extension bill before its month-long recess which begins tomorrow. [CBS]
- The South Vietnam Supreme Court has disqualified Vice President Nguyen Cao Ky as a candidate for president. [CBS]
- The U.S. and USSR presented a joint draft of a plan to outlaw germ warfare materials. [CBS]
- Assistant Secretary of State Joseph Sisco returned to the U.S. following fruitless talks with Israel and Egypt. [CBS]
- The wholesale price index was up 0.3% for July; grocery prices were down 0.3% but the prices of industrial products was up 0.5%. [CBS]
- General Motors announced a 4.1% price increase for 1972 model cars. [CBS]
- An attempted bank robbery in Munich, West Germany, has resulted in the deaths of a bandit and a hostage. Police shot one of the two bandits as he walked to an arranged getaway car, but a hostage in the car was killed during the shooting. The other bandit then surrendered; other hostages were unharmed. [CBS]
- Caliente Racetrack in Tijuana, Mexico, has been almost completely destroyed by fire. The grandstand and main buildings were destroyed though the stable areas were saved. Damage is estimated at $10 million. [CBS]
- Apollo 15 astronaut Alfred Worden took a walk in space 200,000 miles from earth; Worden retrieved film from cameras outside the spacecraft. [CBS]
- The Senate passed a bill to limit spending on campaign ads, repeal the equal time provision on broadcast media, and limit the amount of personal income a candidate can spend on a campaign. [CBS]
- A federal judge has ordered Daniel Ellsberg to appear before a California court on August 16 to face charges of illegal possession of government documents. [CBS]
- The British Parliament approved a strike control bill. [CBS]
- Ohio Governor John Gilligan announced reforms at state prisons, including an end to mail censorship. [CBS]
- Foreign policy and domestic politics can influence each other. President Nixon's trip to China will help his 1972 re-election chances, and he may make trips to the Soviet Union and Japan as well. The President hopes to have ended the Vietnam war by election time, and reached an agreement with the USSR on nuclear weapons and Berlin. While it seems possible that Nixon can campaign as a champion of peace, it is uncertain whether he can campaign as a champion of prosperity. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 849.45 (+4.53, +0.54%)
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* |
| August 4, 1971 | 844.92 | 93.89 | 15.41 |
| August 3, 1971 | 850.03 | 94.51 | 12.49 |
| August 2, 1971 | 864.92 | 95.96 | 11.87 |
| July 30, 1971 | 858.43 | 95.58 | 12.97 |
| July 29, 1971 | 861.42 | 96.03 | 14.57 |
| July 28, 1971 | 872.01 | 97.07 | 13.94 |
| July 27, 1971 | 880.70 | 97.78 | 11.56 |
| July 26, 1971 | 888.87 | 98.67 | 9.93 |
| July 23, 1971 | 887.78 | 98.94 | 12.37 |
| July 22, 1971 | 886.68 | 99.11 | 12.57 |