News stories from Thursday April 13, 1972

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

The provincial capital of An Loc is on the verge of being taken by the Communists; relief is trying to come via Highway 13. Fighting has increased at South Vietnamese bases in Kompong Troc in Cambodia and in the Central Highlands of South Vietnam. Hanoi says that American B-52 raids occurred in North Vietnam on bases at Thanh Hoa and Bai Thuong. Fighting in northern South Vietnam was light today.U.S. Ambassador William Porter flew from Washington back to the Paris Peace Talks. President Nixon secretly offered to resume the talks with Hanoi on April 1 and received no reply, but the Communists then increased their offensive. Now the U.S. has stated that in order to resume peace talks the Communists must first call off their offensive. [CBS] The Senate voted 68-16 to limit the power of the president to commit U.S. troops to battle, reasserting Congress' constitutional authority to declare war. The president can authorize troops to repel an attack, rescue Americans or forestall threats, but congressional approval is necessary after 30 days. The bill now goes to the House. Seventeen senators and 45 representatives wrote to President Nixon to protest his re-escalation of the war. [CBS] A Frontier Airlines 747 was hijacked from Albuquerque to Los Angeles; the purpose of the hijacking was not ransom, but political. Ricardo Chavez Ortise of Santa Fe, New Mexico, wanted to emphasize the issue of justice for Mexican-Americans. The passengers were released, and Ortise gave himself up after five hours. [CBS] The almost two-week-old baseball strike is over. Baseball commissioner Bowie Kuhn announced that an agreement has tentatively been reached between the major league clubs and the Players Association. No games lost because of the strike will be made up. Marvin Miller, head of the Players Association, says that the central issue was the human dignity of the players. [CBS] The Justice Department will file antitrust suits against ABC, CBS and NBC, charging a monopoly and restraint of trade in prime-time entertainment. Viacom International, a company formerly owned by CBS which deals with syndicated programs and cable television systems, was also cited. CBS-TV president Robert Wood claims that the lawsuit is an attempt to transfer control of programming to advertising agencies and motion picture producers, and will cause networks to cease producing television entertainment and feature films. [CBS] United Mine Workers president W.A. (Tony) Boyle was linked to the Yablonski killings by Annette Gilly, who is a suspect in the murders. Mrs. Gilly says that the UMW was behind the 1969 killings. Gilly's father told her that the killings had the "big man's" approval, implying Boyle. In Gilly's confession she mentioned the names of UMW officials George Titler, John Owens, Albert Pass, William Prater and her own father, Silous Huddleston.Joseph Yablonski challenged Boyle as union president in 1969 and lost, then he and his wife and daughter were murdered several months later. Edward Carey, the UMW general counsel in New York City, noted that officials of the UMW condemned the murders at the time, and on behalf of Boyle and the other UMW officials he denied that they had anything to do with Yablonski's murder. [CBS] Price Commission chairman Jack Grayson announced that if price controls on food don't work, rationing is being considered in order to ensure fair distribution. [CBS] Robert Knowles, coordinator of the Republican national convention, urged changing the convention site from San Diego due to rising costs, construction difficulties and labor contract disputes. Mayor Charles Hall of Miami Beach, the site of July's Democratic convention, said that the Republicans are welcome to hold their gathering in Miami Beach. [CBS] Minor tremors were felt in southern Iran, but no new casualties. Four thousand persons are dead and at least 30,000 homeless from the quake which occurred three days ago; tens of thousands were injured. [CBS] The Chinese table tennis team visited an auto factory in Detroit. A small peace demonstration was led by anti-Communist Reverend Carl McIntyre, who urged the Chinese players to defect to America. [CBS] President and Mrs. Nixon, Secretary of State Rogers and Henry Kissinger are beginning their three-day trip to Canada, starting at Uplands Air Force Base near Ottawa. The President will talk with Canadian Prime Minister Trudeau and make an address to Parliament. [CBS]

Stock Market Report

Dow Jones Industrial Average: 965.53 (-1.43, -0.15%)
S&P Composite: 109.91 (-0.27, -0.25%)
Arms Index: 1.06

	Issues	Volume*
Advances	569	5.66
Declines	890	9.36
Unchanged	320	2.97
Total Volume		17.99

* 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*
April 12, 1972	966.96	110.18	24.69
April 11, 1972	962.60	109.76	19.93
April 10, 1972	958.08	109.45	19.47
April 7, 1972	962.60	109.62	19.90
April 6, 1972	959.44	109.42	22.83
April 5, 1972	954.55	109.00	22.96
April 4, 1972	943.41	108.12	18.11
April 3, 1972	940.92	107.48	14.99
March 30, 1972	940.70	107.20	14.36
March 29, 1972	933.02	106.49	13.86