News stories from Thursday June 10, 1971

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

Two witnesses told of seeing an Air Force jet execute a barrel roll a minute before colliding with an Air West passenger plane on Sunday. National Transportation Safety Board spokesman Brad Umber said that the surviving jet radio operator admitted that the pilot executed a 360-degree roll just before the collision. [CBS] The Federal Trade Commission announced that manufacturers must submit proof of their advertising claims on demand; the FTC will begin with the auto industry. [CBS] Wildlife officials are investigating deaths at Lake Apopka, Florida; water from the lake is being analyzed. A biologist said that part of mystery is the fact that only large alligators are dying. [CBS] The U.S. and Canada announced an agreement to fight pollution in the Great Lakes. [CBS] The U.S. and USSR traded moon soil samples; Soyuz II cosmonauts sent back their first space laboratory weather reports. [CBS] Sgt. William Higdon has been given a dishonorable discharge and fined $25,000 following his conviction for corruption in operating U.S. serviceman's clubs in South Vietnam. [CBS] North Vietnamese negotiator Xuan Thuy restated North Vietnam's willingness to discuss the release of American POWs after the U.S. sets a withdrawal date. [CBS] South Vietnam Vice President Ky, referring to President Thieu, said that he will unmask the tyrant and called for a settlement between North and South Vietnam without the involvement of "big powers".South Vietnam has opened 160,000 square miles of the South China Sea to oil exploration by 30 companies. [CBS] The White House announced a list of non-strategic goods permissible for sale to Red China, and will allow all Chinese imports to be sold in the United States. White House press secretary Ron Ziegler said that President Nixon considers the measures to be just one step in improving communication with China. The President lifted the requirement that 50% of wheat, flour and other grains exported to Communist countries be transported on American ships; he also approved the shipment of truck and automotive machinery to the Soviet Union. [CBS] In Oakland, California, U.S. marshals seized a Soviet freighter as security against damages incurred on the other side of the country. A Massachusetts lobster fisherman has filed suit for $377,000 in damages to his fishing gear that was caused by Russian trawlers. The Soviet ship was seized to provide collateral for payment of the damages; the ship will be released when the Soviet Union provides substitute collateral. [CBS] Five crew members from an American boat will be tried in Cuba in retaliation for the sentencing of four Cuban fishermen by a U.S. court. [CBS] Chile's political parties charged that the CIA was responsible for the assassination of former minister Edmundo Zujovic. [CBS] President Sadat of Egypt said that United States is a party to Israel's aggression and occupation of Arab land. [CBS] Sgt. William Higdon was found guilty of corruption in operating U.S. servicemen's clubs in South Vietnam; his sentence is yet to be determined. [CBS] The Army will send two black soldiers back to West Germany to serve three-year prison terms for attempted rape. [CBS] A Senate committee heard testimony concerning securities thefts. Assistant Treasury Secretary John Carlock said that if dealers decide to refuse to handle securities, that mechanism -- on which the U.S. Treasury depends -- would break down. Securities and Exchange Commission director William Casey wants computerized records to replace securities documents. Most thefts occur as securities are being processed. Security measures on Wall Street are being tightened. [CBS] The U.S. Civil Rights Commission accused the Federal Housing Administration of perpetuating racial segregation in their aid program to low income families. [CBS] The Illinois Central Railroad's "City of New Orleans" train derailed near Tonti, Illinois; at least 13 people were killed and 100 were injured. [CBS]

Stock Market Report

Dow Jones Industrial Average: 915.96 (+3.50, +0.38%)
S&P Composite: 100.64 (+0.35, +0.35%)
Arms Index: 0.76

	Issues	Volume*
Advances	708	6.50
Declines	631	4.40
Unchanged	321	1.55
Total Volume		12.45

* 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*
June 9, 1971	912.46	100.29	14.25
June 8, 1971	915.01	100.32	13.61
June 7, 1971	923.06	101.09	13.80
June 4, 1971	922.15	101.30	14.40
June 3, 1971	921.30	101.01	18.79
June 2, 1971	919.62	100.96	17.74
June 1, 1971	913.65	100.20	11.93
May 28, 1971	907.81	99.63	11.76
May 27, 1971	905.78	99.40	12.61
May 26, 1971	906.41	99.59	13.55