News stories from Tuesday August 15, 1972

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

After meeting with North Vietnamese negotiators, Henry Kissinger left Paris for Saigon and talks with President Thieu; North Vietnam's Le Duc Tho flew to back to Hanoi. Press secretary Ron Ziegler reported that Kissinger is undertaking a general review of the Vietnam problem.President Nixon may be ready to dump Thieu. U.S. officials admit a growing disenchantment with Thieu's recent dictatorial moves, but insist that Nixon is under no political pressure to move against him. [CBS] George McGovern rejected President Nixon's offer for a briefing by Henry Kissinger regarding Vietnam, stating that he can learn more from good newsmen than from the President's top foreign policy adviser. McGovern said that former Attorney General Ramsey Clark's criticism of U.S. bombing policy during his visit to North Vietnam may have been a mistake in judgment, but Republicans are silly to call Clark a dupe of the Communists. [CBS] At Republican pre-convention hearings today, Treasury Secretary George Shultz lauded President Nixon's economic policy, Secretary of Defense Melvin Laird blasted George McGovern's proposed defense spending cuts at the platform committee meeting. Laird noted that Ramsey Clark's claim that American POW's will be released as part of a peace settlement is hardly a new report. Laird said that Paris is the place for negotiations, and reports such as Clark's have been proven false there before. [CBS] The rules committee plans to open up the 1976 Republican convention, though the committee did not consider liberal proposals to attract more black and youth delegates to future Republican conventions; it merely added language to a non-discrimination clause. A new rule says that states should endeavor to have equal representation of women and men in delegations to conventions. The Ripon Society, a liberal Republican group, may initiate court action regarding the convention rules. [CBS] Rep. Pete McCloskey won one delegate (in New Mexico) in the Republican primaries. That one is being challenged. McCloskey says that his anti-war proposals have been relegated to a hearing of platform subcommittees, and that Republican leaders are trying to carefully stage the coronation of "King Richard the First". McCloskey claims that disapproving speeches such as his are being hidden from the public spotlight. He also criticized secrecy in Republican campaign contributions, the break-in at Democrat headquarters and the ITT and Armco Steel cases, among others. [CBS] Attorney General Richard Kleindienst stated that if unruly protesters threaten to disrupt the Republican national convention, he'll order mass arrests. Demonstrators have scheduled numerous activities, especially during President Nixon's acceptance speech. They plan to block traffic around the convention hall as a protest of continued bombing in North Vietnam.The coalition of convention protesters met to debate their plans today. "Yippie" member Jeff Nightbyrd noted that America is tired of long-hairs running in the streets. Rennie Davis advocated blocking intersections with a sit-down instead of mobile tactics; coalition member George Katsiaficas wants to flood the streets with bodies. All protest leaders claim to favor non-violent actions. [CBS] United Auto Workers president Leonard Woodcock announced his union's endorsement of Democratic presidential nominee George McGovern. [CBS] The meeting between George McGovern and Chicago Mayor Richard Daley at the Illinois State Fair in Springfield was postponed. They will meet in Chicago next week when McGovern addresses the American Legion convention there. [CBS] Republican convention delegates will be mostly white, middle-aged and male. Republicans are trying to open up the party for 1976, but without quotas. Philip Hoffman, chairman of the American Jewish Committee, is concerned about the drift toward quotas, calling it a new form of discrimination. Hoffman says that rights are for individuals in America, not for groups. Merit, not quotas, should determine advancement. [CBS] Federal judge George Hart lifted the injunction which had been granted to environmentalists that was delaying construction of the Alaska oil pipeline. [CBS] Bobby Fischer has been threatened with a $1 million lawsuit for refusing to allow closed circuit television coverage of the world chess championship in Iceland. The 14th game ended in a draw. [CBS] A 17-year-old high school student in California has developed a new breed of "superchicken". A typical rooster weighs 22 pounds, four times more than an average bird. Inventor Grant Sullens says that they're delicious to eat, even though one won't fit in a pan. He refused the bid of a Canadian firm, saying that he won't sell to a country that lets in hippies and draft dodgers. Sullens finally sold his eggs to an American firm. [CBS]

Stock Market Report

Dow Jones Industrial Average: 969.97 (-3.54, -0.36%)
S&P Composite: 112.06 (-0.49, -0.44%)
Arms Index: 1.11

	Issues	Volume*
Advances	674	6.36
Declines	770	8.09
Unchanged	334	2.22
Total Volume		16.67

* 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*
August 14, 1972	973.51	112.55	18.87
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