News stories from Monday February 14, 1972

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

President Nixon held a meeting with selected members of Congress to consider how best to fight busing in schools. Senator Henry Jackson proposed a constitutional amendment to give parents the right to choose their children's school. Alabama Governor George Wallace and Republican presidential candidate Rep. John Ashbrook criticized Nixon's inactivity on this issue, while NAACP president Roy Wilkins denounced the President's actions against busing.Martha Mitchell says that busing is horrible and should be done away with. Vice President Agnew opposes a constitutional amendment to prevent busing; he believes that the situation can be handled within the existing framework of laws. [CBS] Busing was ordered for Augusta, Georgia; half of the children boycotted schools. One principal said that only 4 out of approximately 400 showed up for school today. Bomb threats emptied some schools. One parent who was interviewed call busing "communistic and socialistic". [CBS] President Nixon relaxed trade restraints with China, permitting the exports of industrial goods and placing China on equal trade footing with Russia. Nixon dined with Andre Malraux, an admirer of Mao Tse-tung who helped inspire the notion of the President's trip to Peking. [CBS] South Vietnam proclaimed a cease-fire in honor of the Tet holiday. Eight hundred allied bombing missions were flown prior to the cease-fire. [CBS] Republican national headquarters spokesman John Lofton confirmed a CBS report that he contacted the wife of an American prisoner of war about Senator Hubert Humphrey's stand on ending the Vietnam war. Lofton says that he only asked her to question Humphrey about why he advocates a policy to end the war without considering the POWs, and insisted that he did not ask her to condemn him publicly. [CBS] The coal strike has forced sharp power cutbacks in Britain. Londoners check power company maps to find out when their power will be cut off. Traffic lights, gasoline pumps, and especially industries are powerless. Some factories have been put on a three-day work week in order to conserve energy. The Labor Party attacked the conservative Heath government, claiming that the industrial catastrophe was caused by the government's mishandling of coal miners. [CBS] Senator Edward Kennedy visited Dacca, Bangladesh, and told students there that the American people sympathize with the Bengalis even though the Nixon administration took a pro-Pakistani stance during the war. Kennedy predicted U.S. diplomatic recognition of Bangladesh. [CBS] The Associated Press reported that a Rumanian General was secretly executed by a firing squad for passing defense information to Rumania's supposed ally, Russia. [CBS] The Russians launched an unmanned moon mission, the Luna 20. [CBS] Los Angeles Mayor Sam Yorty is running hard in the New Hampshire presidential primary. Although most people don't take Yorty seriously, he is engaged in a well-financed New Hampshire campaign. The Manchester Union Leader, a statewide newspaper, backs Yorty. The paper's publisher, William Loeb, endorsed Yorty for his stand to rebuild U.S. credibility by building up the military, and for his other conservative views. Edmund Muskie dismissed the paper's endorsement, saying that Loeb doesn't control many votes. [CBS] Russia's Boris Spassky will meet America's Bobby Fischer in a championship chess match, playing 12 games in Belgrade, Yugoslavia, and 12 in Iceland. [CBS] Switzerland is demanding the extradition of Mrs. Clifford Irving to face charges of fraud and forgery for depositing a check made out to Howard Hughes. In New York, Nina Van Pallandt testified before a federal grand jury regarding the Hughes affair. [CBS]

Stock Market Report

Dow Jones Industrial Average: 910.49 (-7.10, -0.77%)
S&P Composite: 104.59 (-0.49, -0.47%)
Arms Index: 1.10

	Issues	Volume*
Advances	552	5.03
Declines	875	8.75
Unchanged	323	2.06
Total Volume		15.84

* 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*
February 11, 1972	917.59	105.08	17.85
February 10, 1972	921.28	105.59	23.46
February 9, 1972	918.72	105.55	19.85
February 8, 1972	907.13	104.74	17.39
February 7, 1972	903.97	104.54	16.93
February 4, 1972	906.68	104.86	17.89
February 3, 1972	903.15	104.64	19.88
February 2, 1972	905.85	104.68	24.07
February 1, 1972	901.79	104.01	19.60
January 31, 1972	902.17	103.94	18.25