News stories from Thursday May 4, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Paris Peace Talks have collapsed again; the U.S. and South Vietnam suspended them. U.S. Ambassador William Porter stated that North Vietnam and the Viet Cong will not discuss halting their invasion in South Vietnam, and cancellation of talks was due to a complete lack of progress in every available channel. Public and private efforts to break the diplomatic deadlock have failed, including a secret trip to Paris by Henry Kissinger.
The Nixon administration is bracing for another major escalation of the Vietnam war. Heavy U.S. naval and air attacks are expected to be made against North Vietnam, including Hanoi and Haiphong. Kissinger proposed a seven-day cease-fire, a mutual withdrawal of foreign forces from South Vietnam, and a coalition government that would include the Communists and President Thieu; North Vietnam rejected the proposals. The Pentagon has evidence of new Soviet weapons being used by North Vietnam. Nixon, though angry with the Russians, still hopes to go to Moscow.
Another bold military move is being considered by the President: bombing Hanoi, blockading Haiphong, and an amphibious landing by South Vietnamese troops above the demilitarized zone, with U.S. air and naval support. President Nixon is also attempting to pressure Russia into restraining North Vietnam's offensive.
[CBS] - In South Vietnam, the enemy rests, regroups and resupplies. Communist forces almost surround Hue, where a major attack is expected soon. Some normalcy has returned inside Hue for the moment; panic has eased among refugees and looting and arson have diminished. President Thieu met with army commanders there. The new commander, General Ngo Quang Truong, ordered South Vietnamese soldiers who deserted at Quang Tri to regroup or be shot on sight.
Fires have leveled much of the central market distinct in Hue; many merchants and others have fled the city although North Vietnam has cut the roads south of Hue. South Vietnam launched its first counterattacks at An Loc, and between Kontum and Pleiku; the Viet Cong still holds Quang Tri.
More U.S. planes are en route to Vietnam. U.S. Air Force General John Lavelle has been relieved of command in Vietnam for ordering his pilots not to fly below 10,000 feet when attacking North Vietnamese supply trucks.
[CBS] - Two Americans were killed in Vietnam last week, 24 were wounded and 19 are missing. [CBS]
- Funeral services for FBI director J. Edgar Hoover were held at the National Presbyterian Church in Washington; security was heavy. Mamie Eisenhower sat with President and Mrs. Nixon at the funeral; cabinet members and FBI colleagues also attended. President Nixon eulogized Hoover and credited him for fighting against permissiveness. [CBS]
- The Senate Judiciary Committee reportedly will find that acting Attorney General Richard Kleindienst acted properly in the ITT affair and will recommend his confirmation. [CBS]
- Two days after the Ohio primary, all votes have still not been counted but Hubert Humphrey maintains his lead over George McGovern. Federal judge Frank Battisti has ordered a new primary election for 4,000 voters in suburban Cleveland, in 16 precincts where the polls never opened on election day. McGovern backers, led by Cleveland businessman Howard Metzenbaum, pleaded to have federal supervision of the Ohio vote count, but were refused; Metzenbaum questioned the accuracy of the returns in some precincts. Humphrey and McGovern supporters and election officials disagree on ways to examine all of Cuyahoga County's returns. [CBS]
- Senator Edmund Muskie, who dropped out of the presidential primaries, still sees the Democratic nomination as a wide-open situation, himself included. [CBS]
- A flood in Mexico City that was caused by a thunderstorm has left 37 people dead and 10,000 homeless. [CBS]
- The American Psychiatric Association reports that researchers have found the probable biological cause of schizophrenia. Researchers at Wayne State University in Detroit say that an enzyme called "anti-S protein" may be the key to the cure. [CBS]
- Two years ago today, National Guardsmen shot and killed four students at Kent State University who were protesting the U.S. incursion into Cambodia. Kent State students commemorated the second anniversary of the shootings with a quiet midnight candlelight march through campus. The places where the slain students fell was cordoned off, and Vietnam veterans led a march to Taylor Hill. Antiwar sentiments appear as strong as they ever were, but are now nonviolent. Harvard professor George Wald says that he wants victory for North Vietnam and the Viet Cong. [CBS]
- The Pay Board's decision on raises for east coast and Gulf coast longshoremen was blocked by Teamsters president Frank Fitzsimmons, the only remaining labor member on the Board. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 937.31 (+3.84, +0.41%)
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* |
| May 3, 1972 | 933.47 | 105.99 | 15.90 |
| May 2, 1972 | 935.20 | 106.08 | 15.37 |
| May 1, 1972 | 942.28 | 106.69 | 12.88 |
| April 28, 1972 | 954.17 | 107.67 | 14.16 |
| April 27, 1972 | 945.97 | 107.05 | 15.74 |
| April 26, 1972 | 946.94 | 106.89 | 17.71 |
| April 25, 1972 | 946.49 | 107.12 | 17.03 |
| April 24, 1972 | 957.48 | 108.19 | 14.65 |
| April 21, 1972 | 963.80 | 108.89 | 18.20 |
| April 20, 1972 | 966.29 | 109.04 | 18.19 |