News stories from Thursday July 13, 1972

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

Democratic presidential nominee George McGovern has chosen Senator Thomas Eagleton as his running mate. Eagleton is a 42-year-old freshman senator from St. Louis, Missouri, and a Catholic. He supported Muskie earlier but, like McGovern, he is a liberal and a dove on Vietnam. Delegates must approve Eagleton in tonight's final session of the Democratic national convention.Eagleton said that he was flabbergasted to be chosen, but cited the advantages which he brings to the ticket -- he is youthful, from a large city in an industrial state, Catholic, with connections to organized labor. Eagleton stated that Chicago Mayor Richard Daley should readily support the ticket. The selection process began early this morning; the seven men receiving the highest recommendations for the #2 spot on the Democratic ticket were: Senator Abraham Ribicoff, Boston Mayor Kevin White, Wisconsin Governor Patrick Lucey, Senator Walter Mondale, Rep. Wilbur Mills, UAW president Leonard Woodcock, and Eagleton. [CBS] Senator Edward Kennedy will be present when McGovern and Eagleton make their acceptance speeches at the convention. Kennedy formally refused the vice-presidential offer last night. [CBS] George McGovern breaks the tradition of presidential candidates coming from big states. He fits his state's rural image, coming from Mitchell with its population of 13,000. In the South Dakota prairies where the grains are high, a new tourist attraction has been found in the hometown of the presidential candidate; the Corn Palace had been the only traditional landmark.McGovern was actually born in Avon, South Dakota. The villagers plan to make his home into a museum, and a party was held at the local American Legion hall to celebrate his nomination. [CBS] Republicans reacted to George McGovern's nomination; outlines of the Republican campaign attack against McGovern are emerging. Nixon campaign manager Clark MacGregor said that McGovern represents the new elitists who, by unseating the California delegation, ignore the same reform principles which they once espoused. MacGregor said that elitists have driven out many traditional Democratic leaders, and he welcomes such rejected Democrats to the Republican fold. MacGregor added that Republicans would welcome men like Georgia Governor Jimmy Carter and Philadelphia Mayor Frank Rizzo.President Nixon asked Henry Kissinger to begin giving McGovern intelligence briefings on foreign affairs. McGovern, however, will be taking an extended vacation in South Dakota. [CBS] Two armed men hijacked a National Airlines jet over New York City; they surrendered in Texas 22 hours later. The hijackers first ordered the plane back to Philadelphia (where it had first taken off) where they the exchanged the plane and 113 passengers for a 727; the pilot escaped. They landed near Freeport, Texas, where FBI agents tried to negotiate with hijackers, who asked for a small plane; three more crew members escaped. Co-pilot Norman Reagan had been pistol whipped, and flight engineer Gerald Beaver was shot in the leg. Later, the hijackers surrendered to the FBI.In Philadelphia, there were nine hours of anxiety on the ground while the 113 passengers were being held hostage in the plane's sweltering cabin. One passenger described noticing the hijacker as he boarded the plane, because he was carrying a sawed-off shotgun in a sling. The passenger said that no one at the boarding gate noticed the hijackers. [CBS] Melvin Fisher of Norman, Oklahoma, surrendered after he attempted to hijack an American Airlines jet at Oklahoma City. [CBS] The Paris Peace Talks resumed after a 10-week suspension. The Viet Cong's Madame Binh denounced the Nixon administration for "war crimes", and said that the U.S. offers nothing new; neither did she. North Vietnamese minister Xuan Thuy rejected the American proposals and insisted that the United States get out of Vietnam and get rid of South Vietnam President Thieu. North Vietnamese politburo member Le Duc Tho returned to Paris, keeping the hope of progress alive. The State Department called Thuy's remarks stiff and not encouraging. [CBS] American planes staged heavy strikes across North Vietnam. In South Vietnam, fighting was reported from the Mekong Delta to Hue, and especially around Quang Tri city. South Vietnamese troops made headway south of the city, but to the north an 800-man government force is surrounded and in trouble; they called for air strikes. South Vietnamese troops captured batteries of antiaircraft weapons, but progress is slow. [CBS] Four Americans were reported to have died in Vietnam last week, 18 were wounded, five are missing. 661 ARVN were killed, and 3,320 of the enemy were reportedly killed. [CBS] Some American helicopters in Vietnam have been equipped with tear gas for use against South Vietnamese trying to board them. Several have crashed from the heavy passenger load. [CBS] Bobby Fischer boycotted game number two of the world championship chess tournament with Boris Spassky, protesting hidden cameras in the auditorium in Iceland. He forfeited the game, giving Spassky a 2-0 lead in the 24-game tourney. Officials announced that Fischer will not live in the admiral's quarters at the U.S. Naval Base at Keflavik, contrary to what was reported earlier. [CBS]

Stock Market Report

Dow Jones Industrial Average: 916.99 (-6.70, -0.73%)
S&P Composite: 106.28 (-0.61, -0.57%)
Arms Index: 0.94

	Issues	Volume*
Advances	437	4.19
Declines	953	8.58
Unchanged	341	1.97
Total Volume		14.74

* 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, 1972	923.69	106.89	16.15
July 11, 1972	925.87	107.32	12.83
July 10, 1972	932.27	108.11	11.70
July 7, 1972	938.06	108.69	12.90
July 6, 1972	942.13	109.04	19.52
July 5, 1972	933.47	108.10	14.71
July 3, 1972	928.66	107.49	8.14
June 30, 1972	929.03	107.14	12.86
June 29, 1972	926.25	106.82	14.61
June 28, 1972	930.84	107.02	12.14