News stories from Friday September 1, 1972

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

Senator Edward Kennedy reported that North Vietnam will release several American POW's through private channels to coincide with a North Vietnamese holiday. Two Americans prominent in the peace movement, Cora Weiss and David Dellinger, have scheduled a press conference in Paris concerning the POW's. [CBS] President Nixon concluded his summit meeting with Japanese Prime Minister Tanaka in Hawaii; the White House had no comment on the report of the possible release of POW's. Nixon and Tanaka discussed Vietnam and trade. Japan will purchase U.S. grain, lumber, fish, uranium, helicopters and planes; the U.S. trade deficit is $3.8 billion per year in Japan's favor. President Nixon revealed to Tanaka that he carries an 18 handicap in golf. [CBS] Former Attorney General and current Nixon campaign manager John Mitchell answered questions about the break-in at Democratic national headquarters. Counsel for the suspects of the Watergate break-in filed a motion in federal court to halt depositions. Mitchell stated that he answered questions until the defendants'' counsel said it would not be proper to proceed. Mitchell swore that he had no advance knowledge of the bugging, but refused to comment on officials (such as Maurice Stans and G. Gordon Liddy) who may have been involved. [CBS] George McGovern is having internal problems with his presidential campaign staff. McGovern and running mate Sargent Shriver held a strategy session; campaign chairman Lawrence O'Brien called for improved organization. McGovern said that his campaign will run smoothly from Labor Day on. Campaign director Gary Hart took the blame for problems which are considered to be minor. O'Brien says that Hart is an exceptional man, and he is not trying to usurp Hart's power. [CBS] Canadian Prime Minister Trudeau dissolved Parliament and scheduled national elections for October. If he loses, Robert Stanfield will be the new leader. [CBS] The Labor Department reported that 83.5 million people had jobs in August. However, the unemployment rate also increased to 5.6%. [CBS] AFL-CIO president George Meany delivered his Labor Day message, accusing President Nixon of holding down wages while profits soar. But he also said that organized labor would never support those who scorn them (implying George McGovern). [CBS] Supreme Court Justice Lewis Powell refused to delay the busing order for Augusta, Georgia, because it is meant to end unlawful segregation rather than to achieve racial balance. [CBS] Boris Spassky phoned in his resignation, making the Bobby Fischer of the U.S. the new world chess champion. Fischer accepted the championship as the crowd cheered. The president of the International Chess Federation said that Spassky is bitter. [CBS] Soviet Valery Borzov won the gold medal in the 100-meter dash. Two top American contenders were disqualified for appearing late for preliminaries. [CBS] Selective Service will draft 15,900 men in the last three months of 1972. Only those who volunteer to do so will serve in Vietnam. [CBS] White House counsel Charles Colson has ordered his staff to work 24 hours a day, seven days a week to assure President Nixon's re-election. The White House staff, who is paid by the taxpayers, is doing the job of the Committee to Re-Elect the President, which is paid by campaign contributors. [CBS] Raul Sendic, leader of the left-wing Tupamaro guerrillas, was shot by police in Montevideo, Uruguay, and is in critical condition. One of Sendic's victims was U.S. advisor Daniel Mitrione, who was kidnapped and assassinated in 1970. [CBS] England buried one of her heroes today, a great adventurer. Sir Francis Chichester's funeral was held at the church of St. Andrews in Plymouth, England. Chichester single-handedly sailed around the world at age 65. When he made that trip in 1967, he was already riddled with cancer. [CBS]

Stock Market Report

Dow Jones Industrial Average: 970.05 (+6.32, +0.66%)
S&P Composite: 111.51 (+0.42, +0.38%)
Arms Index: 1.10

	Issues	Volume*
Advances	871	5.96
Declines	533	4.00
Unchanged	337	1.64
Total Volume		11.60

* 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 31, 1972	963.73	111.09	12.34
August 30, 1972	957.86	110.57	12.47
August 29, 1972	954.70	110.41	12.30
August 28, 1972	956.95	110.23	10.72
August 25, 1972	959.36	110.67	13.84
August 24, 1972	958.38	111.02	18.28
August 23, 1972	970.35	112.26	18.67
August 22, 1972	973.51	112.41	18.56
August 21, 1972	967.19	111.72	14.29
August 18, 1972	965.83	111.76	16.15