News stories from Monday March 13, 1972

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

Florida is described as a microcosm of America, making its primary important as an election-year indicator. Also, all 11 Democrat contenders are on the ballot. Eighty percent of Florida's population live in cities and towns, therefore urban problems such as law and order are of concern. Tourism provides jobs for 20% of Floridians. Land is disappearing because of rapid population growth, and pollution is spreading. Retirees comprise 17% of the population, 8% of Florida's voters are Jewish, 14% are black, and 4% are Cuban refugees. Youth, labor and the space industry are additional factors.George Wallace is expected to win the Florida primary. Hubert Humphrey and Edmund Muskie will vie for second place, and Henry Jackson needs a good showing here. George McGovern wants to beat John Lindsay, who may withdraw if McGovern wins the liberal vote in Florida. McGovern's chartered plane lost an engine today, but landed safely. [CBS] Busing is the principal issue in the Florida presidential primary, and is even included on the ballot. George Wallace is capitalizing on the busing issue, and Henry Jackson also opposes busing. John Lindsay supports busing for racial equality and denounces those who would vote for a constitutional amendment to end busing. Edmund Muskie rarely mentions busing, but endorses "quality education", as do George McGovern and Hubert Humphrey. At a rally of the Florida League of Women Voters, Florida Governor Reubin Askew got rare support for his position against an anti-busing amendment and in favor of his proposition, also on the ballot, supporting "equal education" for all. [CBS] President Nixon has prepared his recommendation to Congress regarding busing, but is delaying sending it so as not to influence the Florida vote. Press secretary Ron Ziegler said that the results of the Florida primary will not influence Nixon, because his decision has already been made. The President has already stated his opposition to forced busing, and his message to Congress is a possible solution to the problem. [CBS] Last week Pentagon press secretary Jerry Friedhiem intimated that Defense Secretary Melvin Laird would take an active part in President Nixon's reelection campaign. Today he reversed himself, saying that Laird will not get involved, and he rejected a request from Republicans for Laird to seek a delegate seat at the Republican convention. [CBS] Assistant Defense Secretary Roger Kelley, speaking at a Senate Armed Services committee hearing, said that the draft will continue at least through most of 1973 since enlistments are lagging despite stepped-up inducements such as higher pay. [CBS] Author Clifford Irving, his wife Edith and researcher Richard Suskind admitted that their Howard Hughes book is a hoax. They pleaded guilty in New York City to charges of conspiracy and grand larceny against the McGraw-Hill book company. Other charges were dropped by federal and county officials. Sentencing is set for June 16. [CBS] The Commerce Department granted a permit for the export of $2.3 million in TV equipment to China, the first such permit since President Nixon and Chinese leaders agreed to liberalize trade restrictions. During Nixon's visit to China, future contacts between the two countries were promised. Today, U.S. ambassador Arthur Watson met with Chinese ambassador Huang Chem in Paris. [CBS] China and Britain agreed to elevate their diplomatic relationship to full ambassador status, to take effect after Britain recognizes Taiwan as a province of Red China and not a separate nation. [CBS] Australian journalist John Everhingham was captured by Pathet Lao Communists and held for three weeks in Laos before being released. Now in Bangkok, Everhingham stated that American bombing is continuous over Laos, and the Pathet Lao claim that the bombing is killing civilians. [CBS] U.S. planes bombed the Ho Chi Minh trail in Laos and Cambodia in order to hinder North Vietnamese troops and supplies from infiltrating into South Vietnam -- but a new trail has now been located. South Vietnamese troops discovered newly-built sections of a supply road in the Central Highlands of South Vietnam. Manpower and simple tools were used to construct the road. South Vietnam destroyed the road with explosives to disrupt and delay the expected massive offensive from North Vietnam. [CBS] Peter Siegel, an air surgeon for the FAA, says that some doctors approve pilots for flying without proper testing, and he favors making airlines responsible for testing pilots but airlines reject the expense. The pilots' association claims that Siegel's proposal would give airlines the power to dismiss pilots unfairly on grounds of poor health. [CBS] Donald "Deke" Slayton, the only one of America's seven original astronauts who has never flown in space, was finally given medical clearance to fly. He was removed from flight status 10 years ago due to an irregular heartbeat and has fought the decision ever since. Flights in the near future, however, have already been assigned. [CBS] British navy Lt. James Bingham was sentenced to 21 years in prison for selling military secrets to Moscow. His wife urged him to become a spy to relieve the family's financial burden. Britain has been forced to revise its wartime contingency plans due to Bingham's espionage. [CBS] President Nixon says that the pandas from China will be displayed in the Washington Zoo. The pandas come in exchange for two North American musk oxen (Milton and Matilda) which were given by Nixon to China. [CBS]

Stock Market Report

Dow Jones Industrial Average: 928.66 (-11.21, -1.19%)
S&P Composite: 107.33 (-1.04, -0.96%)
Arms Index: 1.16

	Issues	Volume*
Advances	386	3.51
Declines	1,086	11.42
Unchanged	284	1.80
Total Volume		16.73

* 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*
March 10, 1972	939.87	108.37	19.69
March 9, 1972	942.81	108.94	21.46
March 8, 1972	945.59	108.96	21.29
March 7, 1972	946.87	108.87	22.64
March 6, 1972	950.18	108.77	21.00
March 3, 1972	942.43	107.94	20.42
March 2, 1972	933.77	107.32	22.20
March 1, 1972	935.43	107.35	23.67
February 29, 1972	928.13	106.57	20.32
February 28, 1972	924.29	106.19	18.20