News stories from Tuesday July 18, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Anwar Sadat ordered all Soviet military advisers out of his country, stating that Egypt will take over all Russian military installations and equipment. The Russians appear to have suffered a major strategic setback; American officials are delighted but silent. There have been 15,000-20,000 Soviet advisers and technicians in Egypt, using that nation as a base for the extension of Soviet power and influence in the Mideast. Sadat's move comes as a stunning surprise. The break is said to have resulted from the Soviet Union's refusal to send more planes preparatory to a new Egyptian war with Israel. [CBS]
- Henry Kissinger has dropped out of sight again. He may have gone to Paris to renew secret peace talks with North Vietnam's Le Duc Tho. Press secretary Ron Ziegler refused comment. [CBS]
- South Vietnamese paratroopers have pushed to within 50 yards of the heavily fortified North Vietnamese citadel in the center of Quang Tri city. [CBS]
- The U.S. destroyer Warrington, off the coast of South Vietnam, was damaged by two explosions. [CBS]
- The Occidental Petroleum Company has signed a five-year trade agreement with the Soviet Union. Exploration and production of natural gas in the USSR, metal treatment and plating, production of chemicals and hotel construction are included in the deal. Occidental chairman Armand Hammer announced the deal in London, England, calling it the first major development following President Nixon's trip to Moscow. Hammer has been doing business with Russia for 51 years. [CBS]
- The AFL-CIO executive council meets tomorrow to decide the union's position in the 1972 campaign. Union president George Meany called the council meeting in order to ratify an open declaration of war against Democratic presidential nominee George McGovern. Pressure, however, has risen against that "suicide" tactic for the AFL-CIO. McGovern wrote to 150 union presidents and vice-presidential nominee Thomas Eagleton phoned union chiefs counseling a policy of "play it cool".
Pro-McGovern labor forces have gained strength, joined by Floyd Smith of the Machinists Union, and by the Electrical Workers. Meany may yield the decision regarding the AFL-CIO's official position on the election to general board, which is composed of all union presidents. The UAW supports McGovern, the Teamsters support President Nixon. If Mayor Daley of Chicago can endorse the national Democratic ticket, Meany may also be persuaded to do so.
[CBS] - George McGovern praised Chicago Mayor Richard Daley's statement of support even though Daley never mentioned McGovern's name. McGovern says that Daley is a loyal Democrat, but McGovern was disappointed by the Teamsters endorsement of President Nixon. [CBS]
- Mayor Frank Rizzo of Philadelphia denounced McGovern. Rizzo, a Democrat, stated that he will vote for President Nixon and will urge his friends to do likewise. Rizzo noted that Mayor Daley does not appear to be overly enthusiastic about the Democratic candidate either. Rizzo, the former Philadelphia police commissioner, said that McGovern represents the radical Left. [CBS]
- Senator Jacob Javits of New York has launched a "Dump Agnew" move. Javits wants the Republican vice-presidential nomination opened up for a running mate like New York Governor Nelson Rockefeller or Massachusetts Senator Edward Brooke. Javits said that Vice President Agnew attaches labels to people because of their ideological beliefs, generally because they are liberal. Javits believes that such action does not serve to present a positive program, but he will back Agnew if President Nixon selects him again. [CBS]
- Senator Hugh Scott plans to nominate President Nixon for the Nobel Peace Prize, citing the President's trips to China and Russia, the Strategic Arms Limitation Talks (SALT) treaty and the easing of trade barriers. [CBS]
- Singer Frank Sinatra testified before the House Committee on Crime, criticizing it for not challenging earlier testimony from confessed killer Joseph Barboza who claimed that Sinatra had made financial investments on behalf of underworld figures. Committee counsel Joseph Phillips admitted that Sinatra is right.
Sinatra and his attorney, Michael Rudin, explained the singer's investments in the Berkshire Downs race track in Massachusetts. Sinatra said that the 1962 transaction was made through Samuel Rizzo, but he didn't know of the involvement of underworld boss Raymond Patriarca. Sinatra denied having any dealings with the late Tommy Lucchese, who was involved in organized crime. Rudin stated that Sinatra resents the fact that the matter was not handled quietly and privately. Congressional committees do take testimony (such as hearsay testimony) which would not be allowed in a court of law.
[CBS] - The warden of Attica state prison in New York declared a state of emergency after two-thirds of the prison's 1,200 inmates refused to leave their cells for two days. The protest began with the dismissal of a temporary nurse who was liked by inmates. She has since been rehired, but the protest is now continuing against prison conditions in general. [CBS]
- The federal government and airline officials are making escape more difficult for hijackers. The Boeing 727 is a favorite target for hijackers because its rear door and ramp make it possible to parachute from a plane with ransom money. Three airlines -- TWA, Braniff, and American Airlines -- have now sealed their doors to thwart hijackers. TWA pilot Capt. John Mitchell said that the move will discourage hijackers without compromising safety requirements. Most airlines have also tightened pre-flight inspections. [CBS]
- Last month the Supreme Court ruled 5 to 4 that the question of Army surveillance of civilians was a matter for Congress to decide. Justice William Rehnquist cast a majority vote. The ACLU has filed a petition with the court asking that Rehnquist step aside and let the court re-hear the case. Rehnquist had appeared as advocate for the government when he was assistant Attorney General. [CBS]
- British Deputy Prime Minister (and Home Secretary) Reginald Maudling has resigned. Robert Carr, leader in the House of Commons, was named as his successor. Maudling quit after his name was mentioned in connection with a controversial bankruptcy case. [CBS]
- The federal government is taking New York City and other communities to court for polluting New York harbor; more than a dozen New York cities foul the harbor. U.S. attorney Whitney Seymour described the toxic metals which are being discharged into the harbor after passing through sewage treatment plants, and said that the government is just attempting to get New York City to enforce its own sewer regulations. New York environmental chief Jerome Kretchmer called the federal government's action frivolous because pollution control programs are already underway. The EPA stated that over 90% of all raw sewage discharged in the United States is dumped into New York harbor by New York City. [CBS]
- 300,000 people in Brooklyn were without electrical power for 13 hours. Hospitals operated on emergency generators. Looting was reported. [CBS]
- Boris Spassky and Bobby Fischer agreed to a draw in the fourth game of their 24-match series in the world championship chess tournament in Iceland. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 911.72 (-3.24, -0.35%)
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 17, 1972 | 914.96 | 105.88 | 13.17 |
| 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 |