News stories from Friday August 18, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A middle-aged man on a bicycle rode up to a United Airlines jet at the Reno, Nevada, airport. He ordered the plane to Vancouver, British Columbia, and demanded $2 million in ransom -- to help crippled Vietnamese children -- as well as guns, diapers, rope, flashlights, sleeping pills, handcuffs, cigarettes, sandwiches and smelling salts. He revealed a conspiracy to blow up United planes until the Vietnam war ends. When told that the entire ransom amount was not available in Vancouver, he ordered the plane to fly to Seattle for the rest of the money. [CBS]
- The Republican platform committee called on Democrats to support President Nixon, saying that the Democratic party has been seized by a radical clique. The White House approved a draft of the committee's convention platform. The committee agreed with Nixon on defense and Vietnam, but is tougher than the administration regarding amnesty for draft dodgers, and it also stiffened the anti-busing provision and incorporated tough language on welfare. A child-care center plank was opposed. [CBS]
- The Eagleton and Salinger affairs make it appear that George McGovern's campaign organization is losing the high efficiency which took him through the primaries to the Democratic presidential nomination. McGovern says that he will be more cautious about his public statements and he will improve communications within his organization. Regarding the Nixon administration's criticism of him, McGovern noted that at least he speaks for himself instead of having others do it for him. [CBS]
- Protest groups are gathering at the Republican convention site. Vietnam Veterans Against the War has motorcades coming from various cities to Miami Beach. They, along with other groups, are converging on Flamingo Park. Leaders expect between 5,000 and 8,000 protesters to show up, down from the original 10,000-15,000 estimate. The major demonstration is expected on Wednesday night during President Nixon's acceptance speech. Protesters will block the streets in order to delay delegates from reaching the convention.
The 82nd Airborne Division has arrived at Homestead Air Force Base; 2,000 Army troops and 500 Marines are standing by in case of violence. Miami Beach police chief Rocky Pomerance won't divulge his department's plans for reacting to demonstrators.
"Zippies" as so radical that they consider "Yippie" leaders Jerry Rubin and Abbie Hoffman to be part of the establishment. Rennie Davis said that he doesn't consider the Zippies to be a major force, although they get more television coverage. Protest coalition member Marty Feinrider said that orderly protesters will outnumber the disrupters, and coalition leaders will be in control of the situation. Demonstrations will center around the bombing of Vietnam, especially North Vietnamese dikes.
[CBS] - Communist gunners shelled the U.S. Air Force Base at Danang, South Vietnam. [CBS]
- There have been seven accidental bombings by U.S. planes in the past 45 days; 25 South Vietnamese soldiers have been killed and 55 wounded by misdirected strikes. [CBS]
- Henry Kissinger is in Tokyo for a meeting with Japanese leaders on political and economic problems. No word has been reported regarding his talks with President Thieu of South Vietnam; North Vietnam appears to be as inflexible as ever. [CBS]
- The House passed the U.S.-Soviet Strategic Arms Limitation Talks agreement. Senator Henry Jackson's efforts to attach reservations has stalled Senate action on the pact. [CBS]
- The Moroccan government interrogated the air force pilots who were involved in the assassination attempt on King Hassan. General Mohamed Oufkir, the Moroccan defense Minister, committed suicide either out of remorse or because the plan failed. [CBS]
- Black members of the U.S. Olympic team have threatened not to participate in the Munich games if Rhodesia is permitted to participate. Many African nations are also threatening a walkout. [CBS]
- The 15th game of the world championship chess match in Iceland ended in a draw. The score is now Bobby Fischer, 9; Boris Spassky, 6. [CBS]
- The FTC forced the sugar industry to correct advertisements which stated that eating sugar helps a person lose weight. [CBS]
- The Senate passed a bill to switch America to the metric system of counting and measuring over the next 10 years; the Commerce Department recommends the switch. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 965.83 (+4.44, +0.46%)
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 17, 1972 | 961.39 | 111.34 | 14.36 |
| August 16, 1972 | 964.25 | 111.66 | 14.95 |
| August 15, 1972 | 969.97 | 112.06 | 16.67 |
| August 14, 1972 | 973.51 | 112.55 | 18.87 |
| August 11, 1972 | 964.18 | 111.95 | 16.57 |
| August 10, 1972 | 952.89 | 111.05 | 15.26 |
| August 9, 1972 | 951.16 | 110.86 | 15.73 |
| August 8, 1972 | 952.44 | 110.69 | 14.55 |
| August 7, 1972 | 953.12 | 110.61 | 13.22 |
| August 4, 1972 | 951.76 | 110.43 | 15.70 |