News stories from Thursday June 1, 1972

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

President Nixon will land at Andrews AFB at 9:00 p.m. EDT. Via helicopter, the President will arrive at the Capitol building at 9:31 and will address Congress regarding the U.S.-Soviet summit meeting.Before leaving Poland, President Nixon signed a joint communique calling for negotiations for the mutual reduction of military forces in Europe. Polish Communist party secretary Edward Gierek also signed. The communique also envisions expanded trade between the U.S. and Poland. Genuine enthusiasm was expressed in Poland for America and President Nixon but, as in all Communist countries, the expression of enthusiasm was subdued. President Nixon's trip is considered to be an unqualified success; his accomplishments give him the lead in the race for re-election. [CBS] Senate debate on the anti-ballistic missile treaty became heated today. Senator Henry Jackson promised to lead the fight to shut down two anti-ballistic missile sites in the U.S. because the agreement with the Soviets has rendered them useless. Senator Mansfield angrily told Jackson that he is jumping the gun. [CBS] With the Mideast tense over Tuesday night's massacre at the Tel Aviv airport, there were troop alerts in Lebanon today and another terrorist scare in Israel. A bomb exploded at the Lebanese consulate in Los Angeles. [CBS] Leftist terrorists in West Germany have claimed responsibility for the recent bombings against American military installations and German police buildings. Some of the suspected terrorist leaders have been captured. Police in Frankfurt captured four guerrilla leaders after a gun battle. Holger Meins and Andreas Baader were among those taken into custody. The "Red Army Faction" threatened more bombings tomorrow; 50 of the gang's members are still at large. [CBS] South Vietnamese tanks and troops are driving toward Communist-occupied territory 25 miles northwest of Hue. Communist artillery and mortars hit the approaching force but did not stop it. There was an unusually low level of American air support due to bad weather. [CBS] Recent American air raids over North Vietnam have destroyed two of the three power stations serving Hanoi. Two Soviet-built MiG-21s were shot down. Even Hanoi radio is suggesting that the bombing and mining of harbors are having a telling effect. [CBS] Ten Americans were killed in Vietnam last week and 35 wounded; 11 are missing. [CBS] The Pentagon is giving $1,500 bonuses for men who enlist in the Army or Marines and volunteer for combat training. The last time the government offered such bonuses was during the Civil War. The offer is good for 90 days. [CBS] Some polls indicate a substantial victory for George McGovern in next Tuesday's California primary. McGovern is predicting a first-ballot nomination at the Democratic national convention. His staff, looking beyond California, hopes to convince Senators Humphrey and Muskie to withdraw and support McGovern in advance of the July convention. Ted Van Dyk, a Humphrey speechwriter in 1968 but now a McGovern aide, is already making such overtures although he has not discussed it with McGovern; McGovern stated that he would not ask other Democratic candidates to withdraw prior to the convention, but recalled Humphrey's quote that the winner of the California primary will be the party's nominee. A spokesman for Humphrey said that his candidate has no intention of withdrawing and will stay in the race through the convention balloting. [CBS] One outgrowth of the tumultuous Democratic convention of 1968 was party reform, giving the rank and file more representation and greater a voice in procedural issues. The seating of a bloc of Illinois delegates led by Chicago Mayor Richard Daley is now being challenged by the reform movement. Ten insurgents are attempting to unseat more than 50 delegates, including Daley himself. Challengers claim that Daley hand-picked candidates for delegate slots, campaigned for them and shut out the opposition, with a resulting under-representation of women, blacks, Spanish and youth. One witness described being given a sample ballot with only the names of Daley-favored candidates. She objected to the violation of the McGovern Commission guidelines and the lack of women on the ballot. [CBS] Rep. Ralph Metcalfe announced that black and Latin groups in Chicago are setting up a Citizen's Police Review Board, and he accused city officials of failing to deal adequately with police brutality. At community meetings, police have been accused of harassment and brutality against blacks as well as illegal searches. Chicago deputy police superintendent James Rochford said that police should be respected, even if they are wrong. Blacks are now speaking out on the lack of respect shown them by the police. Metcalfe has been an ally of Mayor Daley for 20 years, but says that he loves his own people more than the mayor or his police, and Daley is not Almighty God. [CBS] George Wallace made some progress in his recovery from paralysis; he was able to move his left toes voluntarily. [CBS] A judge in Philadelphia ruled that the 1968 wiretap law is unconstitutional because it violates the amendment prohibiting illegal search and seizure. [CBS] The defense concluded its final arguments in the murder-kidnap trial of Angela Davis. Conflicting testimony and circumstantial evidence against Davis makes the final arguments important. Prosecutor Albert Harris cited the fact that the guns used in the San Rafael courthouse shootout were registered to Davis. Defense attorney Leo Branton said that the defendant would have to be an idiotic fool to buy a shotgun and give her own name, and she's no fool. Prosecution witnesses testified that they saw Davis visit Jonathan Jackson at San Quentin prison prior to the shootout, and also outside the courthouse on the previous day. Branton claims that it wasn't Davis who was seen. [CBS] 44-year-old Bobby Baker, former secretary to Senate Democrats, has been paroled after serving half of his three-year sentence at Lewisburg Penitentiary for income tax evasion, fraud and theft. 16 months and 17 days in a minimum security camp, working as a clerk and groundskeeper, are over for Baker. Baker says that he is innocent of the charges against him, but did his duty with honor. He also stated that he will grant no interviews until his book is completed in about 12 months. [CBS]

Stock Market Report

Dow Jones Industrial Average: 960.72 (0.00, 0.00%)
S&P Composite: 109.69 (+0.16, +0.15%)
Arms Index: 0.80

	Issues	Volume*
Advances	739	7.82
Declines	651	5.50
Unchanged	369	1.59
Total Volume		14.91

* 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*
May 31, 1972	960.72	109.53	15.23
May 30, 1972	971.18	110.35	15.81
May 26, 1972	971.25	110.66	15.73
May 25, 1972	969.07	110.46	16.48
May 24, 1972	965.46	110.31	17.87
May 23, 1972	962.30	109.78	16.41
May 22, 1972	965.31	109.69	16.03
May 19, 1972	961.54	108.98	19.58
May 18, 1972	951.23	107.94	17.37
May 17, 1972	941.15	106.89	13.60