News stories from Tuesday September 5, 1972

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

A gang of Arab terrorists took Israeli athletes hostage in their Olympic Village quarters in Munich, West Germany. Two Israelis were killed as the terrorists broke in and eight others were taken hostage. The Arabs demanded the release of 200 Arab guerrillas currently being held in Israel, and safe passage for themselves. Three helicopters then took the terrorists and their hostages to a military airport outside of Munich, where shooting erupted.Weightlifting coach Moshe Weinberg was killed trying to fight off the Arabs at the Olympic Village. But his heroism delayed the terrorists long enough for half of the Israeli team to escape. Police surrounded the village and the International Olympic Committee suspended the games. West German Chancellor Willy Brandt went on television to say that everything possible was being done to free the hostages (offers of money and substitute hostages), but the Arabs refused and said that if Israeli Defense Minister Moshe Dayan showed up they would murder the hostages. According to Reuters, all Israeli hostages have been freed following the airport shootout. All of the terrorists are reportedly dead or wounded. Three wounded Arabs were also found at the Olympic Village, indicating that the Israelis put up a fight. Security for Jewish athletes has been tightened; American swimmer Mark Spitz, who is a Jew, flew back to the U.S. via London. The Egyptian Olympic team, afraid of retaliation, flew home. American David Berger has lived in Israel for three years and was among the hostages who survived. [CBS] President Nixon and Senator McGovern denounced the Olympic terrorism. Israel was stunned to learn that Israeli blood had been shed at the Olympics, and was shocked at the faulty West German security. Prime Minister Golda Meir addressed Parliament but was non-committal about the demands of the terrorists that Arab prisoners be released. [CBS] Arab League representative Talib El-Shibib said that Arabs oppose violence, but concrete action must be taken to understand the motivation of the terrorists. No Arab nation endorsed today's terrorist action, but there were no denunciations of it by Arab leaders either, with the exception of King Hussein of Jordan. [CBS] Congress' 18-day recess has ended; the Senate and the House passed a compromise $4.7 billion anti-poverty bill. Senator James Allen will force Senate leaders to call up the anti-busing bill, saying that such an emotional question should be decided before the elections. The Senate will also try to complete action on the Strategic Arms Limitations agreement with Russia, revenue sharing, welfare reform, defense appropriations, a consumer protection agency, gun control, President Nixon's government reorganization plan, and a national health insurance plan.The compromise bill sent to the President today extends the anti-poverty and manpower training programs for two years, and keeps legal services for the poor under the anti-poverty agency. During his visit to San Francisco, the President accused Congress of thwarting his environmental programs. [CBS] Henry Kissinger will visit Munich to talk with West German Chancellor Willy Brandt; then to Moscow for talks with Soviet leaders Brezhnev, Kosygin, Gromyko and Podgorny. [CBS] Fighting was reported in South Vietnam at Quang Tri, Que Son and Bau Can. [CBS] American jets struck railroad bridges between Hanoi and China. Two radar systems near Hanoi were also destroyed. [CBS] Former Nixon campaign director John Mitchell denied any previous knowledge of the break-in at Democratic national headquarters; a federal judge ordered depositions to continue in the Democrats' $1 million civil suit. Attorneys questioned Mitchell, who noted that President Nixon is increasing his lead in the polls, and Americans are smart enough to realize that no high government official was involved in the Watergate affair. [CBS] Father Philip Berrigan received a two-year prison sentence and Sister Elizabeth McAlister received a one-year sentence for smuggling letters in and out of prison. They were the only two of the "Harrisburg 7" defendants who were convicted in the alleged plot to kidnap Henry Kissinger. [CBS] A French scientist, Dr. Michel Siffre, lived in a Texas cave for 205 days to see if he could alter man's natural daily life cycle. He emerged from isolation today, saying that he wants a bath and to be alone with his wife. Siffre claims that he changed his own cycle to a 48-hour day. [CBS] The Labor Day rock festival on Bull Island, Illinois, ended; two dead bodies were found. [CBS] The U.S. Navy is using a pilot whale to retrieve objects from deep water. The whales are trained to retrieve objects, much like dogs are. [CBS] Police still have the Munich airport sealed off; Arabs and their Israeli hostages remain inside. Earlier reports indicated that the hostages were freed and some of the Palestinian guerrillas had been shot. [CBS]

Stock Market Report

Dow Jones Industrial Average: 969.37 (-0.68, -0.07%)
S&P Composite: 111.23 (-0.28, -0.25%)
Arms Index: 0.97

	Issues	Volume*
Advances	591	4.03
Declines	782	5.18
Unchanged	367	1.42
Total Volume		10.63

* 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*
September 1, 1972	970.05	111.51	11.60
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