News stories from Thursday October 12, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A poll shows President Nixon leading George McGovern 3 to 1 in the South. In Atlanta today, a "Dixie for Nixon" rally and a motorcade during lunch hour was a big success due to unlimited money and expert advance work. The President was pleased with the warm reception. Harry Dent organized the rally as part of Nixon's "Southern strategy". The President says that it is an "American strategy" and noted that opposition to busing in Michigan is stronger than it is in Alabama. [CBS]
- One Nixon fan was especially glad to welcome the President to Georgia. Rep. Fletcher Thompson greeted the President and Mrs. Nixon at the airport. Thompson is trying to ride the President's coattails to become Georgia's first Republican Senator in 104 years. He has been campaigning all over Georgia, urging voters to break the Democrat tradition. The Democratic candidate for the Georgia Senate seat, Sam Nunn, has disowned George McGovern and Julian Bond. He is a conservative and has been endorsed by George Wallace, Lester Maddox and Herman Talmadge. [CBS]
- George McGovern campaigned in Minnesota today, drawing a large crowd at the University of Minnesota in Minneapolis. McGovern will utilize TV ads and telethons for the remainder of the campaign, but he has written off the Rocky Mountain states, the South and the border states in order to concentrate on the 10 biggest states. [CBS]
- House Banking Committee chairman Wright Patman's attempt to investigate the Watergate case has failed. Neither his witnesses nor a quorum of the committee attended today's meeting. [CBS]
- Congress rushed through its calendar to adjourn and enable members to campaign for re-election. The Senate failed to end the liberal filibuster of the anti-busing bill. [CBS]
- The Senate confirmed General Creighton Abrams as Army Chief of Staff. Some senators, however, feel he should share the responsibility for the unauthorized bombing of North Vietnam. [CBS]
- The Senate Finance Committee approved the House-passed measure to set a $250 billion limit on federal spending. [CBS]
- Henry Kissinger returned from his unprecedented four days of meetings with North Vietnamese negotiators in Paris. President and Mrs. Nixon arrived at Andrews Air Force Base 40 minutes before Kissinger as they returned from Georgia. President Thieu nervously expressed his fear that Kissinger may have been negotiating the shape of a coalition government for South Vietnam. A cease-fire was also reportedly discussed. [CBS]
- President Thieu stated that he will neither step down nor be part of a coalition government in South Vietnam. At a youth rally in Saigon, Thieu said that peace will come through the defeat of North Vietnam. Paratroopers dropped into the stadium for the show's climax. [CBS]
- ARVN forces battled for control of hamlets near Saigon. At Xom Suoi, U.S. and South Vietnamese bombs have leveled the hamlet. ARVN forces moved in only to find that the North Vietnamese had pulled out. Residents then returned to their shattered village. [CBS]
- 21 Americans were killed last week in Vietnam, and 53 were wounded; eight are MIA. 406 ARVN are dead along with 2,403 enemy. [CBS]
- The "Phoenix" program was designed to root out Viet Cong leaders among the civilian population in South Vietnam; it was supported by the U.S. military. A House committee today accused the Pentagon of failing to investigate charges that American soldiers in the program had helped murder South Vietnamese civilians. [CBS]
- President Allende of Chile declared a state of emergency following a truck drivers strike and violence. [CBS]
- New York City's Radio City Music Hall is closed due to a musicians union dispute. Attendance is down as costs have risen. The future for the Hall is said to be bleak. [CBS]
- AT&T's vice president reported plans to raise telephone rates 10-15%. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 937.46 (-8.96, -0.95%)
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* |
| October 11, 1972 | 946.42 | 109.50 | 11.90 |
| October 10, 1972 | 951.84 | 109.99 | 13.31 |
| October 9, 1972 | 948.75 | 109.90 | 7.94 |
| October 6, 1972 | 945.36 | 109.62 | 16.63 |
| October 5, 1972 | 941.30 | 108.89 | 17.73 |
| October 4, 1972 | 951.31 | 110.09 | 16.64 |
| October 3, 1972 | 954.47 | 110.30 | 13.09 |
| October 2, 1972 | 953.27 | 110.16 | 12.44 |
| September 29, 1972 | 953.27 | 110.55 | 16.25 |
| September 28, 1972 | 955.15 | 110.35 | 14.71 |