News stories from Monday January 31, 1972

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

In Northern Ireland, a general strike and widespread violence is being reported in the wake of the slaying of 13 civilians in yesterday's demonstration in Londonderry. Northern Ireland Prime Minister Lynch has recalled the country's ambassador to Britain. In Belfast, trucks were set on fire and soldiers were shot at. A bomb exploded in a department store; college students marched in the streets.Northern Ireland MP Bernadette Devlin attacked British Home Secretary Reginald Maudling as he was telling the army's version of the incident. Devlin says that Maudling and the government bear the responsibility for the deaths of 13 people. [CBS] Swiss police issued warrants for the arrest of author Clifford Irving and his wife in connection with the Howard Hughes book affair. In Switzerland, Mrs. Irving posed as "Helga R. Hughes" to deposit and subsequently withdraw money intended for Howard Hughes. As "Hannah Rozencrantz", she then deposited the money in a nearby bank. A district attorney in Zurich said that Mrs. Irving will be punished for falsifying documents if she did so to damage someone or to gain illegal advantage. New York and federal grand juries have delayed hearings for Irving in order to permit him to consult with his attorneys. [CBS] Pretrial hearings continued for Angela Davis in California, where she faces charges of murder and kidnapping. On August 7, 1970, Davis made a violent attempt to escape the Marin County courthouse in San Rafael. Guns were smuggled to San Quentin inmates awaiting the hearing, who then took over the courtroom and forced hostages outside; Judge Harold Hailey was killed. Davis is accused of furnishing the guns and conspiring in the crime. Her attorneys will appeal for another trial postponement. Demonstrators protested today outside the courthouse and chanted "Free Angela". [CBS] The Federal Aviation Administration is ordering U.S. airlines to screen passengers and baggage in an attempt to thwart hijackings. [CBS] Negotiations between shippers and Longshoremen resumed in San Francisco. Labor Secretary Hodgson urged Congress to approve an administration bill to force compulsory arbitration. [CBS] Treasury Secretary John Connally asked the House Ways and Means Committee for a higher legal limit on deficit spending. He denied the need for more taxes, if spending is restrained. [CBS] U.S. bombers in Indochina kept pressure on enemy supply lines and base camps. Army Chief of Staff General William Westmoreland, ending his inspection trip, said he expects a Communist offensive within 10 days. [CBS] North Vietnam revealed a nine-point peace plan which it claims to have offered to Henry Kissinger in secret talks in Paris last June 26. [CBS] Much of Cambodia is now in Communist hands. Cambodia wants to discuss peace with North Vietnam, but North Vietnam is busy with the proposed U.S. peace plan. [CBS] The Senate Armed Services Committee approved the nomination of Kenneth Rush as Deputy Secretary of Defense. Senators Barry Goldwater, John Stennis and Strom Thurmond, normally friends of the Pentagon, criticized military spending. [CBS] Rep. Pete McCloskey questioned the propriety of former Commerce Secretary Maurice Stans serving as President Nixon's campaign fundraiser. [CBS] The national Democratic party has implemented reform in choosing state delegates to its national convention. The Arizona caucus shows John Lindsay in second place behind Edmund Muskie. In this new system, women, youth and Mexican-Americans are more substantially represented. [CBS] Cigarette manufacturers agreed to print health warnings in their advertisements. [CBS] Antibiotics lose effectiveness if used too often, yet most meat-producing animals are regularly treated with such drugs. The FDA is taking steps to reduce antibiotics in food for poultry, hogs, sheep and cattle. [CBS] The Atomic Energy Commission is considering allowing nuclear-powered heart stimulators to be implanted by doctors on an experimental basis. [CBS] Maury's Tavern at Yale University is a battleground for Women's Lib. The Connecticut liquor control commission may revoke the club's liquor license for discriminating against women, as they are still barred from being served there. [CBS]

Stock Market Report

Dow Jones Industrial Average: 902.17 (-4.21, -0.46%)
S&P Composite: 103.94 (-0.22, -0.21%)
Arms Index: 1.08

	Issues	Volume*
Advances	795	8.61
Declines	642	7.53
Unchanged	306	2.11
Total Volume		18.25

* 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*
January 28, 1972	906.38	104.16	25.00
January 27, 1972	899.03	103.50	20.36
January 26, 1972	889.15	102.50	14.94
January 25, 1972	894.72	102.78	17.57
January 24, 1972	896.82	102.57	15.64
January 21, 1972	907.44	103.65	18.81
January 20, 1972	910.30	103.88	20.21
January 19, 1972	914.96	103.88	18.80
January 18, 1972	917.22	104.05	21.07
January 17, 1972	911.12	103.70	15.86