News stories from Wednesday June 14, 1972

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

Presidential aide Henry Kissinger is returning to China; Soviet President Podgorny is en route to North Vietnam -- they may be on similar missions. Kissinger's China trip is believed to be connected with negotiations regarding Vietnam, though presidential press secretary Ron Ziegler stated that all international questions will be discussed. The U.S. may soon return to the Paris Peace Talks under an agreement which was arranged while President Nixon was in Russia.The President has ordered American bombers to stay away from Hanoi during Podgorny's visit there; he believes that Podgorny may try to encourage North Vietnam into serious negotiations. 13 Russian warships which were off the Vietnamese coast have dispersed. Russia and China may value their relations with America more than their support for North Vietnam. [CBS] 340 U.S. air strikes were flown over North Vietnam yesterday; 10 railroad bridges were destroyed, along with eight barges, 66 trucks, 56 boats and two surface to air missile sites. [CBS] Scattered fighting was reported in South Vietnam. The U.S. base at Danang was shelled. At An Loc, South Vietnamese reinforcements arrived and cleared North Vietnamese forces from the city. One soldier was killed northeast of Saigon when two American units surprised each other and shots were exchanged. [CBS] A Japanese airliner crashed and burst into flames near New Delhi, India. 83 of the 89 passengers on board were killed. The plane was en route from Tokyo to London. [CBS] Air Force officials told a House committee that 172 B-52 bombers (one third of the entire U.S. fleet) may have a defect in one wing. Restrictions have now been placed on the loads some of those planes may carry. [CBS] In spite of his own denials, Senator Edward Kennedy's name has been mentioned as a possible draft for the Democratic presidential nomination. A Boston newspaper reported that he may be willing to take the vice-presidential nomination on a ticket with George McGovern.McGovern, while sightseeing on a ferry boat to the Statue of Liberty, said that he may offer Kennedy the post of vice president if he is nominated. In Washington, Kennedy stated that he will not be a candidate for president or vice president under any circumstances. [CBS] Edmund Muskie rejuvenated his presidential candidacy, naming Senator Harold Hughes as his campaign director and announcing a 10-state tour in search of delegates. [CBS] The Texas delegation to the Democratic national convention, with 130 votes, is the largest to be chosen without a primary. The Texas state convention affords a preview of the national convention and the use of party reforms. Texas Democrats are working to fulfill the reform requirements of delegates, particularly regarding the inclusion of minorities; the 1972 delegation is dramatically different from that of 1968.Wallace delegate Hal Timanus said that he is satisfied with the composition of the delegation. McGovern delegate Billie Carr noted the absence of traditional party bosses at the convention (John Connally, Ben Barnes, Preston Smith, Lyndon Johnson) and said that the Texas Democrats are truly the people's party again. [CBS] Senator John McClellan won renomination in the Arkansas run-off primary against Rep. David Pryor. [CBS] Judge Stephen Roth set up a panel to create a plan for integrating pupils and faculty in Detroit. He called for "re-clustering" of schools in order to minimize busing. The Detroit school board will appeal Roth's order. [CBS] The pesticide DDT has been banned in an effort to save the environment, but farming has become dependent on DDT. For 10 years, since the publication of Rachel Carson's "Silent Spring", ecologists have fought the use of DDT as being a threat to the environment and a hazard to man. Environmental Protection Agency administrator William Ruckelshaus has made the DDT ban almost total, saying that the long-range risks outweigh any benefits. Dabney Wellford of the National Cotton Council says that insects will continue to destroy crops unless an alternative pesticide is used. He stated that organophosphates (which are being used instead of DDT) are actually more toxic to humans and more expensive than DDT. [CBS] The EPA proposed tougher air-pollution regulations for 25 states. [CBS] In Rapid City, South Dakota, the list of persons who are still missing following the recent flood has dropped to 800; the death toll remains at 200. [CBS] The FBI has cracked a plot to steal $3 million in securities. A robber shipped himself in a box as air freight on an Eastern Airlines flight from Greensboro, N.C., to Atlanta; he then tried to steal the securities during the flight. [CBS] Omar Bradley, America's only living five-star general, was honored at a Pentagon ceremony. During World War II, Bradley commanded more than a million men. Entertainer Bob Hope and many dignitaries attended the ceremony to see Bradley receive still another military honor. Secretary of Defense Laird said that Bradley has become a legend, and dedicated a corridor in the Pentagon to him. Only General Dwight D. Eisenhower has been similarly honored. [CBS]

Stock Market Report

Dow Jones Industrial Average: 946.79 (+8.50, +0.91%)
S&P Composite: 108.39 (+0.84, +0.78%)
Arms Index: 0.90

	Issues	Volume*
Advances	895	10.74
Declines	541	5.87
Unchanged	334	1.71
Total Volume		18.32

* 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*
June 13, 1972	938.29	107.55	15.71
June 12, 1972	936.71	107.01	13.39
June 9, 1972	934.45	106.86	12.79
June 8, 1972	941.30	107.28	13.82
June 7, 1972	944.08	107.65	0.00
June 6, 1972	951.46	108.21	15.98
June 5, 1972	954.39	108.82	13.45
June 2, 1972	961.39	109.73	15.40
June 1, 1972	960.72	109.69	14.91
May 31, 1972	960.72	109.53	15.23