Select a date:      
Thursday May 11, 1972
. . . where the 1970s live forever!

News stories from Thursday May 11, 1972


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

  • Russia's reaction, as reported in Tass, is that President Nixon's mining of North Vietnamese harbors is fraught with serious consequences and the Soviets demand that the mines be removed; the upcoming U.S.-Soviet summit was not mentioned. At the White House, President Nixon held a meeting with Russian trade minister Nickolai Patolichev and Ambassador Dobrynin; the President and his Russian guests talked jovially about language problems. The summit meeting in Moscow has not been canceled, and plans for it are continuing.

    Some State Department officials believe that the Soviet Union has backed down to the U.S. threat; others believe that the lack of a Russian response is a holding action to buy more time to allow President Nixon to back down from his hard line, for West Germany to vote on treaties with Russia and Poland -- and for North Vietnam to launch the next phase of its military offensive. [CBS]

  • As U.S. mines became armed, seven North Vietnamese ports were sealed off. American jets continue to hammer North Vietnam targets. Off the coast, U.S. 7th fleet warships pounded the Don Son peninsula. 36 foreign ships in were the port of Haiphong when President Nixon announced that the harbor would be mined; five of them sailed prior to the deadline but 31 remain in port.

    The mines were loaded on U.S. carriers several weeks ago; they are moored by anchors, floating at various depths under the water. Some are sensitive to metal, others to changes in ocean pressure, others to sound. After a certain period of time they will automatically go dead. Admiral Elmo Zumwalt reported that American ships stationed in the Gulf of Tonkin will warn approaching vessels not to enter mined waters by using radios, lights, flags and megaphones. Zumwalt reaffirmed Secretary of Defense Laird's statement that the U.S. will take any necessary action to prevent the resupply of North Vietnam. [CBS]

  • North Vietnam called the mining a crazy act of war escalation. They vowed to sweep the mines and continue the war for 5-10 more years. China called the U.S. move a flagrant provocation. [CBS]
  • In Frankfurt, West Germany, a U.S. Army colonel was killed and five others were injured in an explosion at their headquarters. President Nixon's escalation of the war in Vietnam is believed to have caused the bombing as a protest. [CBS]
  • Antiwar activities are increasing in the United States; 1,800 arrests have been reported to date since President Nixon announced his new policy in Vietnam. The president of Amherst College was arrested for blocking the gates at Westover Air Force Base in Massachusetts; the University of Minnesota held a peaceful demonstration today. In New York City, the United Nations is closed to tourists because protesters chained themselves to seats in the Security Council visitor's gallery. 2,000 students massed on the campus of the University of Wisconsin for a third night to protest the latest action in Vietnam. Police used tear gas; 20 students were arrested and three policemen were shot while chasing several arson suspects. [CBS]
  • 19 Americans were killed last week in Vietnam; 28 were wounded and five are missing. [CBS]
  • In South Vietnam, 7,000 rounds of enemy artillery, mortars and rockets hit An Loc today. An army unit is bogged down on Highway 13 between An Loc and Saigon; the South Vietnamese relief force has not moved on Highway 13 for over a week, as attempts to advance are met with enemy fire. [CBS]
  • West Virginia and Nebraska counts are incomplete, but the two Democratic leaders have increased their delegate strength. George McGovern is ahead, Hubert Humphrey is second, George Wallace is third. Michigan and Maryland primaries are next, but California will decide the Democratic presidential nomination. McGovern needs a California victory in order to oppose party leaders for the nomination; Humphrey could survive a defeat there, but a McGovern victory would be a staggering blow. Jack Chestnut, Humphrey's national campaign director, says that Humphrey has not attacked any Democratic candidate so far -- but attacks on McGovern will be made in California. A Humphrey staffer said that McGovern's liberal stands on marijuana, abortion and amnesty will be publicized.

    McGovern's California campaign director is urging a hard, substantive discussion of the issues with no name calling, and he wants to project McGovern as the "straight-talking" candidate. McGovern plans to attract blue-collar workers by hitting tax issues, but Humphrey has heavy backing from organized labor. Blacks have voted for Humphrey, but McGovern will try to cut into his support with a spot by Julian Bond on black radio station KGFJ.

    New voters between the ages of 18-20 are being counted on by McGovern, but he isn't taking them for granted. Humphrey is going after young voters who work instead of going to school. McGovern rock concerts draw large numbers of students who contribute to his campaign fund. McGovern has many big money contributors, but Humphrey has more. Backers of former candidate Edmund Muskie are looking for signs of strength before switching to McGovern or Humphrey. Los Angeles Mayor Sam Yorty could drain support from Humphrey in California; Eugene McCarthy and Shirley Chisholm could take votes from McGovern. California is winner-take-all for 271 delegates, with no excuses or "moral" victories. [CBS]

  • After testimony but before the verdict in the "Chicago 7" conspiracy trial, 10 attorneys and defendants were sentenced for contempt of court. A U.S. Appeals Court has now overturned the citations by Judge Julius Hoffman and ordered a re-hearing by another judge. [CBS]
  • Interior Secretary Rogers Morton has approved the construction of an oil pipeline in Alaska which is opposed by environmental groups. The pipeline will cross the state from Prudhoe Bay to Valdez. [CBS]
  • The House approved legislation to raise the minimum wage from $1.60 to $2.00 an hour over the next two years. [CBS]
  • The Senate approved a $3.4 billion budget for NASA. [CBS]


Stock Market Report

Dow Jones Industrial Average: 934.83 (+3.76, +0.40%)
S&P Composite: 105.77 (+0.35, +0.33%)
Arms Index: 0.89

IssuesVolume*
Advances9117.43
Declines4993.63
Unchanged3221.84
Total Volume12.90
* 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
DateDJIAS&PVolume*
May 10, 1972931.07105.4213.87
May 9, 1972925.12104.7419.91
May 8, 1972937.84106.1411.25
May 5, 1972941.23106.6313.21
May 4, 1972937.31106.2514.79
May 3, 1972933.47105.9915.90
May 2, 1972935.20106.0815.37
May 1, 1972942.28106.6912.88
April 28, 1972954.17107.6714.16
April 27, 1972945.97107.0515.74


Copyright © 2014-2024, All Rights Reserved   •   Privacy Policy   •   Contact Us   •   Status Report