News stories from Monday August 14, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Republican party chairman Robert Dole denied that the Republican national convention will be dull. He said that there will be surprises to make it exciting. [CBS]
- The Republican rules and platform committees began their pre-convention hearings today. The platform committee discussed the Vietnam war, while in Washington President Nixon announced that Henry Kissinger met secretly again with North Vietnamese negotiators in Paris. Secretary of State William Rogers once more denied Sargent Shriver's charge that President Nixon passed up a chance for peace in Vietnam in 1968. Rogers said that the alleged North Vietnamese signal for peace was given during the Johnson administration and he stated that Averell Harriman, Cyrus Vance and Shriver should have acted then. Harriman, American ambassador to the Paris Peace Talks at the time in question, claims that all of his information was available when the Nixon administration took over, and if President Nixon didn't know about it, then it was his own fault.
North Vietnamese troops withdrew from northern South Vietnam at the end of 1968. Harriman and Vance interpreted the move as North Vietnam's readiness for a deal and so informed Washington. The new administration was skeptical of the information and took a more pessimistic view of North Vietnam's withdrawal. In February of 1969, North Vietnam launched a new attack on South Vietnam and the Nixon administration felt vindicated for its negative interpretations.
[CBS] - Proposed reforms to open the Republican party to more women, youth and blacks at the 1976 national convention are feared by some to be a "Stop Agnew" drive. All agree that convention delegates should not have to meet quotas; a Republican delegate said that state delegations can mirror the make-up of their state's population without a quota system. Clark Reed noted that liberal Republicans have been unable to elect a candidate of their liking, such as Senator Charles Percy, so they are trying to enact reforms (which will lead to the kind of chaos Democrats had this year) so they can capture control of the party. Senator Percy claims that he knows of no "Stop Agnew" movement for '76, and he is more concerned with unity in '72. [CBS]
- Democratic vice-presidential nominee Sargent Shriver campaigned in West Virginia. He said that if the Democrats win, the White House will be open to all, and people who are hungry will be invited to dinner. Shriver visited a foundry; the visit symbolizes the start of John Kennedy's comeback to beat Nixon in 1960. [CBS]
- Former Attorney General Ramsey Clark has returned from his tour of North Vietnam. Speaking in San Francisco, Clark stated that North Vietnam will release American POW's if there is a change in the U.S. administration, according to a Hanoi newspaper editor. Clark will offer George McGovern a briefing on his trip. [CBS]
- The General Accounting Office reported to Congress that the military crackdown on drugs has driven soldiers from marijuana to more easily concealed hard drugs, such as heroin. [CBS]
- 159 people were killed in an East German plane crash. The Russian-built jet was chartered for a Bulgarian resort. [CBS]
- The Pay Board had been considering lowering the 5.5% guideline on wage increases, but said that no change will be made at this time. [CBS]
- The Miami Beach city council agreed that demonstrators may again use Flamingo Park as a campsite during the Republican national convention. "Zippies" smoked marijuana as the city council meeting was called to order, in defiance of the rest of the coalition of protesters who feel that the Zippies are bent on turning convention demonstrations into havoc. Citizens at the council meeting protested having the campground be used by protesters. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 973.51 (+9.33, +0.97%)
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* |
| August 11, 1972 | 964.18 | 111.95 | 16.57 |
| August 10, 1972 | 952.89 | 111.05 | 15.26 |
| August 9, 1972 | 951.16 | 110.86 | 15.73 |
| August 8, 1972 | 952.44 | 110.69 | 14.55 |
| August 7, 1972 | 953.12 | 110.61 | 13.22 |
| August 4, 1972 | 951.76 | 110.43 | 15.70 |
| August 3, 1972 | 947.70 | 110.14 | 19.97 |
| August 2, 1972 | 941.15 | 109.29 | 17.92 |
| August 1, 1972 | 930.46 | 108.40 | 15.54 |
| July 31, 1972 | 924.74 | 107.39 | 11.12 |