News stories from Tuesday June 20, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Democratic National Committee chairman Lawrence O'Brien has filed a $1 million lawsuit, seeking damages against President Nixon's campaign organization and the five men who are accused of breaking into Democrat party headquarters. White House consultant E. Howard Hunt has been linked with the five raiders. O'Brien says that the incident represents politics brought down to the gutter level.
Hunt is a consultant to White House counsel Charles Colson. Hunt's name, telephone number and a piece of mail were found among the effects of James McCord, Bernard Barker and the other three men who were arrested after the break-in. Hunt was in action for the CIA with Barker at the Bay of Pigs, and met with him in Miami two weeks ago according to the New York Times. McCord was also in Miami, checking security in the offices of the Republican national committee. John Mitchell, head of the Committee to Re-Elect the President, denies any connection with McCord's actions at the Watergate Hotel, and he called O'Brien's lawsuit a "political stunt". The five men who were arrested are still in a Washington, DC jail pending a hearing regarding their bail.
Senator Mike Mansfield called a meeting of political leaders to discuss security at the Miami conventions. Those present included Larry O'Brien, Attorney General Kleindienst, Senators Robert Dole, Hugh Scott, Edward Kennedy and Strom Thurmond, and leaders of the House of Representatives. O'Brien stated that he has confidence in the FBI's investigation.
[CBS] - The Watergate break-in is making Democrat officials more security-conscious. They have asked the telephone company to make daily bugging checks of office and hotel phones in Miami Beach, the site of their national convention. [CBS]
- The Securities and Exchange Commission accused two ITT executives of using insider information about their company's antitrust settlement to sell stock. ITT consented to a court order forbidding any such future transactions, but did not admit to this one. [CBS]
- The New York presidential primary is being held today, the last in a long series; 248 delegates will be chosen. George McGovern is fielding the largest number of delegate slates, and he hopes to win at least 200 delegates. [CBS]
- The U.S. Conference of Mayors is meeting in New Orleans to discuss problems of the cities. Senators McGovern, Humphrey and Muskie are vying for the mayors' support. McGovern said that cities are starving while U.S. foreign policy expands. Muskie maintained that cities cannot he abandoned without destroying the nation. Humphrey endorsed revenue sharing, as specified in Rep. Wilbur Mills' financial assistance bill.
Henry Maier, mayor of Milwaukee and president of the Mayors' Conference, stated that he was equally impressed and satisfied with each of the three Democratic presidential candidates; New Orleans Mayor Moon Landrieu said that Humphrey got the warmest reception. The mayors refused to engage in the "Stop McGovern" movement, but made it clear that Humphrey is still their favorite.
[CBS] - Senators Humphrey, Muskie and McGovern ended their primary campaigning on a note of invective, though they have been personal friends and political allies. McGovern said that he does not object to legitimate competition, but criticized the "Stop McGovern" movement as being comprised of back-room deals. At the Mayors Conference, McGovern held a private meeting with Chicago Mayor Richard Daley, who denied taking part in the "Stop McGovern" movement and stressed the need for party unity and a voter registration drive. [CBS]
- Margaret Chase Smith got two-thirds of the Republican primary vote to win renomination to the Senate from Maine for a fifth term. [CBS]
- South Vietnamese marines are driving to retake Quang Tri province from the Communists. U.S. planes hit North Vietnam again today. Two Americans were killed near An Loc in a helicopter crash. [CBS]
- The last American ground combat unit in Vietnam, the 3rd Brigade, 1st Air Cavalry, has returned to the United States. [CBS]
- President Nixon has nominated General Creighton Abrams to succeed General William Westmoreland as Army Chief of Staff. Abrams also succeeded Westmoreland as U.S. Commander in Vietnam; Westmoreland is retiring. [CBS]
- The Selective Service issued a draft call for 8,900 men in August, the most for any month in over a year. Draft lottery numbers up through 75 are eligible. [CBS]
- The Air Force grounded F-111 fighters for the seventh time in the last four years, following two crashes within a week. [CBS]
- The Senate passed the child care bill for funding day care centers and the Head Start program. [CBS]
- The United Nations Security Council condemned air hijackings. [CBS]
- A rebellion in Burundi (Africa) is occurring as rival Tutsi and Hutu tribes are involved in a power struggle. [CBS]
- Three appeals court judges added a new element to the Democratic national convention delegate challenge situation, vacating a lower court order which nullified party reforms. The court is holding the case open for further hearings. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 948.22 (+6.39, +0.68%)
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 19, 1972 | 941.83 | 108.11 | 11.66 |
| June 16, 1972 | 945.06 | 108.36 | 13.01 |
| June 15, 1972 | 945.97 | 108.44 | 16.94 |
| June 14, 1972 | 946.79 | 108.39 | 12.32 |
| 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 |