News stories from Thursday August 17, 1972

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

In the 24 hours preceding Henry Kissinger's arrival in South Vietnam, American bombing raids against North Vietnam were the heaviest of the present campaign. The move was made due to ideal weather and to reassure President Thieu on the eve of his talks with Kissinger. Thieu urged continued American bombing of North Vietnam. American Ambassador Ellsworth Bunker is tight-lipped about Kissinger's visit. North Vietnamese peace talks negotiator Le Duc Tho, after his talks with Kissinger in Paris, has returned to Hanoi. [CBS] The 155th session of the Paris Peace Talks was held today. Viet Cong negotiator Madame Binh said that the Communist posture is unchanged. She insisted again on U.S. withdrawal and a coalition government (including Communists) in South Vietnam. She stated that President Nixon lost a chance for peace in 1969, backing Sargent Shriver's claim. American Ambassador William Porter said the session was "routine". [CBS] Republicans criticized Pierre Salinger's Paris meeting with North Vietnam on George McGovern's behalf. Press secretary Ron Ziegler said that Salinger's action could undermine President Nixon's attempt to end the war. Salinger replied that it must be a slow news day at the White House, and claimed that his actions can't delay peace. Ziegler also reported that McGovern declined to be briefed by the White House on Vietnam and therefore he could jeopardize peace talks because of his lack of information.Senator John Tower said that such actions characterize the ineptitude of McGovern's management of affairs. Senator Robert Griffin pointed out that meddlesome interference could delay the release of American POW's. Senator Gordon Allott said that he was shocked by McGovern's action. Speaking in Racine, Wisconsin, McGovern called Henry Kissinger's trip to South Vietnam "political" and said that is what is interfering with negotiations far more than anyone else could. McGovern claims that Salinger's trip was made on his own initiative. Nixon campaign manager Clark MacGregor is studying the Logan Act, which forbids private citizens from engaging in diplomacy, to see if it was violated by Salinger. [CBS] George McGovern's white paper on the environment was attacked by Environmental Protection Agency administrator William Ruckelshaus, who said that McGovern's paper should be recycled and that McGovern should support President Nixon's environmental proposals. [CBS] The Republican national committee approved rules changes and the platform committee ended its hearings. The draft of the Republican party platform was tentatively approved by the White House. All liberal challenges to President Nixon's positions on Vietnam, marijuana, abortion and busing were voted down. The platform contains a tribute to organized labor. [CBS] The rules committee debated changes which will affect the 1976 national convention. The status quo prevailed over backers of more liberal rules. Quotas were outlawed. [CBS] Four Americans were killed in Vietnam last week, 28 were wounded. 763 ARVN were killed, and 3,099 enemy. [CBS] Heavy fighting continues in Quang Tri city. Fighting there has evolved into a stalemate. North Vietnamese supplies do not seem to be diminishing as the shelling continues. [CBS] Morocco returned to normalcy after yesterday's assassination attempt on King Hassan II. He was returning from France when rebel pilots in the Moroccan air force escort fired on the royal jet. Hassan said that he tricked the rebels by getting on the radio, pretending to be a mechanic, and telling them that the King had been mortally wounded. But the pilots recognized the trick and attacked the airport after the King landed. Defense Minister Mohamed Oufkir committed suicide for not preventing the attempted coup -- or because it failed. [CBS] General Motors reduced its request for price increases on 1973 cars, but said that an increase is needed because of new required safety features. The Transportation Department reported a steering lock-up problem on Pontiacs, Buicks, Oldsmobiles and Chevrolets which were built during the last two years. Ralph Nader is demanding a recall of those cars. [CBS] Revised figures show that the economic news for the second quarter of 1972 is even better than first reported. The gross national product, initially reported as increasing 8.9%, was revised upward to 9.4%. The inflation rate of 2.0% was revised down to 1.8%. The Commerce Department reported that corporate profits increased $4.9 billion. [CBS] The 15th game of the world chess championship between Bobby Fischer and Boris Spassky has adjourned. [CBS]

Stock Market Report

Dow Jones Industrial Average: 961.39 (-2.86, -0.30%)
S&P Composite: 111.34 (-0.32, -0.29%)
Arms Index: 0.97

	Issues	Volume*
Advances	658	6.19
Declines	714	6.52
Unchanged	358	1.65
Total Volume		14.36

* 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 16, 1972	964.25	111.66	14.95
August 15, 1972	969.97	112.06	16.67
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