News stories from Monday July 17, 1972

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

Chicago Mayor Richard Daley endorsed the Democratic ticket. Daley appeared in public for the first time since he and his delegation were unseated at the Democratic national convention, and reaffirmed himself as a Democrat and as chairman of the Democratic party of Cook County. Daley says that he will support every candidate on the Democratic ticket: federal, state and county. Daley did not, however, mention George McGovern by name. [CBS] Democratic presidential nominee George McGovern has started a two-week vacation. McGovern returned to his home state of South Dakota for a working vacation in the Black Hills. McGovern pleaded with people to help him think of a way to change the machinery of war into instruments that will improve the lives of Americans. He said that Mayor Daley and members of the challenged California delegation are on their way for one last stand at Custer, South Dakota. McGovern's staff put out a cheery interpretation of Daley's statement. The senator called Daley to thank him for his endorsement. McGovern's press secretary said that Daley's statement was warmer than the press thinks. [CBS] Congress has reassembled for a four-week session between the conventions. Senator Mansfield praised the McGovern-Eagleton ticket but said that it faces a tough race because of President Nixon's exceptionally good record in China and Russia and on Vietnam troop withdrawal. [CBS] The leaders of the Teamsters union voted to support the re-election of President Nixon. Teamsters president Frank Fitzsimmons says that blue-collar workers seem to be of little concern to the McGovern ticket. [CBS] The Justice Department announced that it will not prosecute Fitzsimmons' son Richard, who is an official of the Detroit Teamsters local, on charges of mishandling union funds. A Justice Department spokesman said that it has no case, and denied that political pressure influenced the decision. [CBS] Defense Secretary Melvin Laird questioned the credibility of George McGovern's claim that American POWs will be released if U.S. forces are withdrawn from Vietnam. Laird also insinuated that the F-15 Eagle, built for the Air Force by McDonnell-Douglas of St. Louis, would be retained despite McGovern's planned Defense Department budget cuts, because his running mate is from St. Louis. McGovern's press secretary denied that any deal has been made on the F-15. Thomas Eagleton said that Laird is mistaken and that he and McGovern have not discussed the F-15. [CBS] The Nixon administration has joined the fight to stop a judge's plan for massive school busing in the Detroit area. The state of Michigan appealed a court order that it purchase 300 buses for possible use this fall. The Justice Department filed a friend of the court brief arguing that such preparations should be halted while the case is under consideration by the U.S. Court of Appeals. [CBS] Bitter fighting is reported as South Vietnamese marines and paratroopers continue to drive toward the center of Quang Tri city. American jets and warships off the coast are providing cover. South Vietnamese troops are within 200 yards of the heavily fortified citadel in the center of town.Civilians are being freed as government troops recapture more ground. A 7-year-old girl was found deserted; her parents had left her because she cannot walk due to having paralyzed legs. The South Vietnamese flag was raised inside the Quang Tri city limits, and house-to-house combat is underway. [CBS] American bombing and the blockade of North Vietnam are taking a heavy toll. Hanoi has ordered the full mobilization of its labor force; anyone not complying may be assigned to hard labor for two years. [CBS] At An Loc, South Vietnam, U.S. evacuation helicopters had been equipped with electric cattle prods to enable crewmen to repel unwanted passengers trying to flee; the prods will be removed. [CBS] 48 hours after the prison riot in Jessup, Maryland, another outbreak was reported 20 miles away in Baltimore, where 75 prisoners seized hostages and set fires. Maryland Governor Marvin Mandel and Rep. Parren Mitchell met with the inmates; the hostages were freed and prisoners returned to their cells after their grievances were heard.At Attica prison in New York, prisoners refused to leave their cells as a protest against the firing of a friendly nurse. [CBS] In Northern Ireland, talk of renewing the cease-fire was reported. Britain agreed to pull its forces out of a contested district in Belfast if the IRA also leaves. In Londonderry, physical damage since 1969 exceeds $25 million. Business is off 40% by day, 70% by night. The militant provisional wing of the IRA has reportedly suspended operations in Belfast's Lenadoon Housing Estate, the scene of violent confrontation in the past. [CBS] Bobby Fischer beat Boris Spassky in the third game of 24 in the world chess championship in Iceland. [CBS] A verdict was handed down in Israel regarding the surviving Japanese terrorist of the Tel Aviv airport massacre. A military court found Kozo Okamoto guilty on behalf of the Arab guerrilla organization which hired him. Okamoto, a member of the Red Army, did not deny his role in the slaughter. The chief prosecutor compared the defendant to a wild animal but asked for life imprisonment rather than the death penalty. Okamoto's state-appointed attorney reminded the court that the death penalty cannot be imposed on anyone under age 18 and no one proved Okamoto was over that age; Okamoto told the court he is 24 years old. He was sentenced to life in prison. [CBS] The Federal Reserve Board's index of industrial production was up 0.3% in June. [CBS] The Cost of Living Council has re-imposed wage and price controls on the lumber industry. Council director Donald Rumsfeld said that the action should serve as warning to other industries that inflationary price increases will not be permitted. [CBS] The first two female FBI agents were sworn in today: Joanne Pierce, a former nun; and Susan Roley, a Marine lieutenant. They now begin a 14-week training course. J. Edgar Hoover would not accept women as agents but his successor, L. Patrick Gray, changed Hoover's policy. [CBS] Senator Thomas Eagleton is acquiring stature as the Democratic vice-presidential nominee. The candidate and his staff are working to win back the good graces of Democrats who are disaffected by Senator McGovern's positions. Eagleton is also trying to win the support of AFL-CIO president George Meany. Eagleton thanked the Machinists Union for its endorsement, and Eagleton says he is pleased with Chicago Mayor Richard Daley's endorsement. [CBS]

Stock Market Report

Dow Jones Industrial Average: 914.96 (-7.30, -0.79%)
S&P Composite: 105.88 (-0.92, -0.86%)
Arms Index: 1.70

	Issues	Volume*
Advances	451	2.48
Declines	957	8.95
Unchanged	318	1.74
Total Volume		13.17

* 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 14, 1972	922.26	106.80	13.91
July 13, 1972	916.99	106.28	14.74
July 12, 1972	923.69	106.89	16.15
July 11, 1972	925.87	107.32	12.83
July 10, 1972	932.27	108.11	11.70
July 7, 1972	938.06	108.69	12.90
July 6, 1972	942.13	109.04	19.52
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