News stories from Thursday July 6, 1972

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

The losers in the California and Illinois Democratic convention delegate fights have taken their cases to the Supreme Court. Chief Justice Warren Burger temporarily blocked the implementation of lower court rulings while he considers whether to call the adjourned Supreme Court into special session to hear the appeals. An appellate court gave McGovern back 151 California delegates which the credentials committee had taken away, and the same court upheld the unseating of Chicago Mayor Richard Daley and his 58 Illinois delegates. Humphrey would be the loser if the California decision stands, but campaign manager Jack Chestnut says that Humphrey will abide by the Supreme Court's decision and not take an adverse ruling to the convention floor.The Daley bloc already plans a floor fight, however. Daley's delegation charges that the insurgent delegation was chosen in secret caucuses in violation of party rules. The leader of the insurgents, alderman William Singer, claims that all meetings were open and they were held with full public notice. Daley's people disrupted the meetings, therefore other locations were chosen and newsmen were present at those other locations. [CBS] On the night before leaving the hospital in Silver Spring, Maryland, George Wallace attended a low mass with Captain E.C. Dothard, Wallace's wife and two daughters, and Maryland Governor Marvin Mandel. Wallace, a Methodist, read the 23rd Psalm. Tomorrow he will make a stop in Montgomery, Alabama, on the way to Miami Beach and the Democratic national convention.Considerable plans have been made for Wallace's trip. Medevac "Nightingale", courtesy of President Nixon, will carry Wallace to the convention. Wallace's physician said that therapy will continue and the governor is working hard. He'll exercise in his hotel suite, which has already been sealed off by the Secret Service. Nurses, doctors and a physical therapist will be on hand. Convention headquarters is being set up and ramps have been built in the convention hall to accommodate Wallace's wheelchair. [CBS] The South Vietnamese Foreign Minister stated that when the Paris Peace Talks resume next week, they will quickly produce something positive. In London, the diplomatic correspondent for UPI reported that China and Russia have counseled North Vietnam to work out a quick end to the war with the United States. The White House and State Department discounted those reports. [CBS] South Vietnamese paratroopers now occupy the Quang Tri city airport and power station but have steered clear of the heavily fortified citadel in the center of the city. North Vietnamese troops fired on South Vietnamese reinforcements east of they city with American-made tanks which they captured previously. Communists shelled Hue, but only one casualty resulted.Refugees who remained when North Vietnam took over Quang Tri province said that the Communists did not bother them at first. North Vietnam changed its tactics however, and forced some civilians to move to North Vietnam. They escaped and fled south across a partially built bridge under enemy fire. [CBS] 14 Americans were killed in Vietnam combat last week, 23 were wounded and four are missing. 523 ARVN died and 2,765 enemy were killed. [CBS] The hijacking of a Pacific Southwest airliner ended with shootings at San Francisco International Airport. FBI agents shot and killed the two armed hijackers. One passenger was killed and two were wounded by the hijackers.While airline officials prepared to meet the hijackers' demands for money and parachutes, FBI agents planned to take the gunmen. From a Coast Guard launch on San Francisco Bay, they put three heavily armed agents ashore. A fourth agent, dressed as an airline pilot and carrying the ransom and parachutes, drove to the plane. As he boarded, three agents rushed up the stairs behind him and the shootout began. FBI agent Robert Gebhardt is not happy that three passengers were hurt, but the calculated risk was agreed to by Pacific Southwest Airlines authorities. One wounded passenger was pronounced dead on arrival at the hospital. Passenger Victor Yung, one of the wounded, said that the FBI agents were very brave. [CBS] Bobby Fischer made a personal written apology to Boris Spassky for delaying their world championship chess match in Iceland; the match will begin Tuesday. [CBS] NASA announced the possibility of using large satellites to provide the Earth with electrical power by converting the Sun's energy. [CBS] Defense Secretary Melvin Laird accused Senator McGovern of advocating a "give-away now, beg later" defense policy. McGovern replied that he would never permit America to become a second-rate power. [CBS] The Washington Post noted that Democrats have raised half of the $2 million cost of their convention via ads in a souvenir convention book; ITT placed an advertisement in the book. [CBS] Protesters looked over the area that Miami Beach has set aside for them. Rev. Ralph Abernathy toured the campsite as the first tents were being erected. He said that protesters will challenge the Democratic national convention to do something about poverty and injustice, and to end racism, war and disease. "Resurrection City #2" is in Flamingo Park, four blocks from the convention complex. Elderly people continued their park activities as usual, as poet Allen Ginsberg sang a political tune. All protest groups will share the ball field. [CBS] The Poor People's Coalition asked the Democratic convention manager for 750 floor seats. The manager said that there are no floor seats, but offered 50-75 gallery seats. Coalition leader Jesse Gray vowed to get floor seats "by any means necessary". Democrats noted the first threat of trouble. [CBS] The list of candidates for vice president is growing although traditionally the presidential nominee names his running mate. Senator Mike Gravel and Wisconsin Governor Patrick Lucey announced their vice-presidential candidacies. [CBS]

Stock Market Report

Dow Jones Industrial Average: 942.13 (+8.66, +0.93%)
S&P Composite: 109.04 (+0.94, +0.87%)
Arms Index: 0.91

	Issues	Volume*
Advances	930	11.53
Declines	505	5.71
Unchanged	331	2.28
Total Volume		19.52

* 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*
July 5, 1972	933.47	108.10	14.71
July 3, 1972	928.66	107.49	8.14
June 30, 1972	929.03	107.14	12.86
June 29, 1972	926.25	106.82	14.61
June 28, 1972	930.84	107.02	12.14
June 27, 1972	935.28	107.37	13.75
June 26, 1972	936.41	107.48	12.72
June 23, 1972	944.69	108.27	13.94
June 22, 1972	950.71	108.68	13.41
June 21, 1972	951.61	108.79	15.51