News stories from Friday August 25, 1972

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

The People's Republic of China assumed a seat on the U.N. Security Council nine months ago. Today, with its first veto and a verbal blast at Russia and India, China kept Bangladesh out of the United Nations. China insists that Bangladesh release Pakistani POWs before being admitted to the United Nations. China accused India of still having troops in Bangladesh and accused Russia of "social imperialism" in efforts to expand its influence in Asia. [CBS] ARVN forces have retaken Que Son, South Vietnam, thus easing Communist pressure on Danang. South Vietnamese General Pham Hoa Hiep, who ordered Que Son to be retaken, was fired because one of his outfits abandoned Fire Base Ross without orders. Heavy fighting was reported near Saigon on Highways 13 and 4. Despite U.S. bombing and blockading of North Vietnam, North Vietnam has sent more troops and supplies south to begin a new phase of its offensive. [CBS] American jets flew 310 bombing missions over North Vietnam today; four planes were lost. China protested that American warplanes sank a lifeboat from a Chinese merchant ship near Vinh. The U.S. stated that the boat was not Chinese. [CBS] Democratic presidential nominee George McGovern met in Washington, DC with the managers of rural electric co-ops and said that the length of a person's hair is unimportant and wishes that he had more. He noted former President Johnson's long hair.An ad-hoc committee of AFL-CIO unions, supporting McGovern against the wishes of George Meany, gave him a rousing reception and $250,000. McGovern highlighted the Nixon-Agnew record on drugs, the crime rate, and the Democratic headquarters break-in. He announced the appointment of five women to campaign posts, including Rep. Bella Abzug and actress Shirley MacLaine; McGovern pledged to name a woman to the Supreme Court. McGovern will present his welfare and tax reform proposals before the New York Society of Security Analysts. [CBS] Democratic vice-presidential nominee Sargent Shriver persuaded Francis Fitzpatrick, the Mayor of Bayonne, New Jersey, and the Hudson County Democratic chairman, to support the Democratic ticket. [CBS] Vice President Agnew took his new conciliatory image to the Veterans of Foreign Wars convention in Minneapolis, where he criticized Senator McGovern's view on general amnesty for draft dodgers and said that it would tear the country apart. Agnew stated that President Nixon would grant amnesty only if some penalty was applied. [CBS] President Nixon is relaxing in San Clemente, California. He is planning an announcement regarding Vietnam, and more campaign trips. Nixon met crowds at the San Diego airport; he also stopped in Chicago, Illinois, and Utica, Michigan on his way home from the Republican national convention. The President criticized George McGovern often, but without mentioning his name. [CBS] William Powell, president of the Mid-American Dairymen dairy cooperative, claimed in a letter to a colleague that contributions to the Nixon campaign caused the administration to raise the support price for milk. The Justice Department is investigating. [CBS] In West Germany, a reminder of World War II took place today. Olympic athletes, including members of the Israeli team, visited the Dachau concentration camp where memorial services were held at the urging of the German Olympics organizer. Social psychologist Horst-Eberhard Richter says that the Germans have repressed guilt feelings and feelings of inferiority about the Nazi days. Producing the 1972 Olympics is said to be therapeutic. [CBS] The 18th game of the world chess championship in Iceland ended in a draw. Bobby Fischer leads Boris Spassky 10½ to 7½. [CBS] In Rotterdam, Netherlands, 80 cars and trucks collided during a fog; the line of vehicles stretched for one mile. An oil tanker rammed another truck and exploded, starting a chain-reaction pileup. [CBS] Fifty-two years ago women gained the right to vote; women's libbers celebrated today. At Fort Meade, Maryland, U.S. Air Force Col. Norma Brown, the single mother of two adopted children, has become the first female to take command of a large, predominately male unit. Colonel Brown said that she doesn't think women will ever face combat. [CBS] The FDA announced that it will regulate the remaining 15% of the blood-collection industry that is not already controlled. [CBS] The Agriculture Department has banned the import of exotic birds due to Newcastle disease. [CBS]

Stock Market Report

Dow Jones Industrial Average: 959.36 (+0.98, +0.10%)
S&P Composite: 110.67 (-0.35, -0.32%)
Arms Index: 1.12

	Issues	Volume*
Advances	566	4.65
Declines	826	7.63
Unchanged	358	1.56
Total Volume		13.84

* 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*
August 24, 1972	958.38	111.02	18.28
August 23, 1972	970.35	112.26	18.67
August 22, 1972	973.51	112.41	18.56
August 21, 1972	967.19	111.72	14.29
August 18, 1972	965.83	111.76	16.15
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