News stories from Tuesday February 29, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Senate took further action on busing to achieve racial balance in schools. Presidential candidates Edmund Muskie, Hubert Humphrey and George McGovern returned from campaigning to vote on the busing proposals. Senators Jackson and Hartke were still absent. Vice President Agnew was on hand to break a possible tie.
The Griffin amendment to ban courts from ordering busing was rejected by a 49-48 vote. The Mansfield-Scott compromise, which delays court-ordered busing pending an appeal, and discourages busing which impairs the health or education of students, passed 63 to 34. Senator Robert Griffin said that the strong sentiment in the Senate which has been expressed against busing should be noted by the Supreme Court. Senator McGovern believes that the Mansfield-Scott amendment won't accomplish much, but may head off something "worse".
[CBS] - The Senate Democratic and Republican leaders, Mike Mansfield and Hugh Scott, have been invited to visit China by Premier Chou En-lai. Press Secretary Ron Ziegler would not predict the date of the possible trip.
President Nixon briefed leaders of Congress and the cabinet on his China trip. Gifts from China were presented to members of both groups. Photographs taken in China by White House photographers now adorn the corridors near the President's office.
[CBS] - A Soviet newspaper charged President Nixon with using his trip to China for re-election publicity, and blasted China for plotting with the United States. Conservative columnist William F. Buckley accused the President of selling out Taiwan, and he endorsed the presidential candidacy of Rep. John Ashbrook. [CBS]
- The Senate Judiciary Committee approved a constitutional amendment to guarantee equal rights for women. The amendment's sponsor, Senator Birch Bayh, predicted that it would face a battle in the Senate. [CBS]
- At the trial of Reverend Philip Berrigan and six co-defendants, the prosecution's principal witness, Boyd Douglas, took the stand for a second day. A 1970 letter from Douglas under the alias "Pete", sent to "Molly" (alias for FBI agent Delmar Mayfield) was disclosed. Douglas had requested a $50,000 reward from the government in exchange for his testimony. The defense demanded records of the financial transactions, but the judge denied the motion. Defendant Anthony Scoblick called Douglas an opportunist and defendant Rev. Joseph Wenderoth said that the witness is a farce. Defense attorneys have subpoenaed FBI director J. Edgar Hoover, but the government moved to block the subpoena. [CBS]
- The death toll now stands at 70 in the wake of the West Virginia flood, and 150 people are still missing. [CBS]
- A gunfight took place in the Federal Reserve Bank in Richmond, when a guard opened fire on other guards. One person was killed and three were wounded. [CBS]
- Senator William Proxmire recently got hair transplants, but other politicians have an easier way of adding hair: Georgia Lt. Governor Lester Maddox wears a gray toupee. [CBS]
- Democratic party chairman Lawrence O'Brien said that charges made by columnist Jack Anderson raise grave questions about the integrity of the Nixon administration. International Telephone and Telegraph is said to have made a deal with the government regarding an antitrust suit. Anderson claims that ITT lobbyist Dita Beard discussed a settlement -- involving a contribution to the Republican party -- with Attorney General John Mitchell. Both ITT and the Justice Department denied the charges. [CBS]
- There was discussion at Senator Edward Kennedy's Judiciary Committee about draft dodgers and amnesty. David Harris, the husband of singer Joan Baez, went to prison rather than be inducted. Harris stated that he favors amnesty and that draft dodgers never should have been made into criminals. He rejects the connotation of forgiveness in amnesty, however, saying that the war is wrong, not the draft dodgers. Martin Kelly, the father of a soldier who was killed in Vietnam, said that he rejects amnesty as forsaking those who fought and died in Vietnam. [CBS]
- The Defense Department says that the records of soldiers who have been discharged for drug abuse are marked as such. Assistant Defense Secretary Richard Wilbur told a Senate committee that such notations are valid for medical reasons. Senator Harold Hughes, a reformed alcoholic, fears that the records brand the soldiers as drug users for the rest of their lives. [CBS]
- Cesar Chavez and the United Farm Workers announced a contract for Florida migrant workers with the Coca-Cola company's "Minute Maid" division. [CBS]
- The Pay Board will consider pay raises for professional sports stars. Atlanta Braves baseball player Henry Aaron recently signed a three-year contract at $200,000 per year, a 60% increase over his present salary. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 928.13 (+3.84, +0.42%)
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* |
| February 28, 1972 | 924.29 | 106.19 | 18.20 |
| February 25, 1972 | 922.79 | 106.18 | 18.18 |
| February 24, 1972 | 912.70 | 105.45 | 15.86 |
| February 23, 1972 | 911.88 | 105.38 | 16.77 |
| February 22, 1972 | 913.46 | 102.29 | 16.67 |
| February 18, 1972 | 917.52 | 105.28 | 16.59 |
| February 17, 1972 | 922.03 | 105.59 | 22.33 |
| February 16, 1972 | 922.94 | 105.62 | 20.67 |
| February 15, 1972 | 914.51 | 105.03 | 17.77 |
| February 14, 1972 | 910.49 | 104.59 | 15.84 |