News stories from Tuesday July 13, 1971

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

The House voted to send the contempt of Congress citation against CBS back to committee; the vote effectively defeats the citation. Representatives criticized television news during the debate but voted against the contempt citation; opponents believe that the subpoena of unbroadcast material from "The Selling of the Pentagon" violates the first amendment. The roll call vote was 226-181.Rep. Harley Staggers said that it is a sad day for America when a television network can influence members of Congress; CBS president Stanton was pleased by the vote. [CBS] Four generals, five colonels and one major were executed for their involvement in the attempted coup against King Hassan II of Morocco. [CBS] Presidential adviser Henry Kissinger arrived in San Clemente, California, to brief President Nixon on his just-completed world tour. The expected resignation of Paris Peace Talks negotiator David Bruce was among topics they discussed; William Porter, currently the ambassador to South Korea, is expected to succeed Bruce. [CBS] Capt. Thomas Culver was found guilty of taking part in an antiwar demonstration in London, England; Culver maintains that he was petitioning, not demonstrating. The judge in the court-martial hearing ruled that a demonstration includes any group publicly expressing a common feeling. Culver said that he is upset by the ruling, but is confident that an appeals court will rule in his favor. [CBS] A federal parole board will hold hearings on July 28 regarding the parole applications of Philip and Daniel Berrigan. [CBS] CIA-trained Laotian tribesmen recaptured the Plain of Jarres in Laos, as North Vietnamese troops withdrew for the rainy season.There are new charges that U.S. bombing is creating refugees in Laos. Project Air War spokesman Fred Branfman asked Laotian refugees to draw pictures of their life during American bombing, and he read the captions to the pictures that were written by refugees; the refugees all said that their villages were bombed, and described "poison paper" being dropped from airplanes. [CBS] Dr. Jerome Jaffe stated that 5% of soldiers leaving South Vietnam are addicted to heroin; many addicts are reportedly paying other soldiers to take tests for them. [CBS] The Senate Banking Committee approved a bill to provide a $250 million loan for Lockheed Aircraft as well as loans for other companies whose bankruptcy could hurt the U.S. economy. [CBS] A telephone strike is set to begin tomorrow. [CBS] The Army commenced the destruction of its germ warfare arsenal at Pine Bluff, Arkansas. The Pine Bluff base will become an Food & Drug Administration research facility after the arsenal is destroyed. [CBS] Mary Ann Wyatt, previously praised for helping rescue patients from a fire at a Louisville, Kentucky, nursing home, has been indicted for arson and murder. [CBS] A man with a machete killed two people and injured three in the Sierra foothills in California. [CBS] A former mental patient killed a hospital official and shot at people from the official's office in Detroit. Police used tear gas to force 21-year-old Robert Putnam from the building. [CBS] The FTC ordered seven automobile manufacturers to submit documents proving their advertising claims. [CBS] The Commerce Department reported that the U.S. trade deficit with Japan will be over $2 billion this year; Amalgamated Clothing Workers president Jacob Potofsky said that American workers can not compete with foreign labor which works for as little as 9 cents an hour. [CBS]

Stock Market Report

Dow Jones Industrial Average: 892.38 (-11.02, -1.22%)
S&P Composite: 99.50 (-1.32, -1.31%)
Arms Index: 1.62

	Issues	Volume*
Advances	351	2.10
Declines	1,069	10.35
Unchanged	264	1.09
Total Volume		13.54

* 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 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
June 28, 1971	873.10	97.74	9.81