News stories from Friday September 8, 1972

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

Israeli war planes struck targets in Syria and Lebanon to avenge the deaths of Israeli athletes at the Munich Olympics. Israeli Foreign Minister Abba Eban vowed that the terrorists will be wiped out. Israel called on the United Nations to take international action against terrorism, and criticized Egypt and Libya. America urged Israel not to attack Egypt. U.N. Secretary General Kurt Waldheim has scheduled a discussion of terrorism for the General Assembly. [CBS] An Arab summit conference will meet in Cairo. [CBS] David Berger, the American-Israeli weightlifter who was killed by Arab terrorists in Munich, was buried today in Cleveland, Ohio. Mr. and Mrs. Benjamin Berger, their son Fred and daughter Barbara bore their grief for son and brother well, and called for peace. President Nixon arranged for the Air Force flight which brought Berger's body home. [CBS] Arabs are threatening Austria and Switzerland with terrorism. [CBS] The Labor Department reported that wholesale prices during the year of President Nixon's economic program increased more than in the previous 12 months, at a rate of 4.4%. Ezra Solomon of the council of economic advisers called the statistics disappointing. Council chairman Herbert Stein blamed rising food prices and said that things would be worse if George McGovern were president. [CBS] The baking industry requested an increase in bread prices. The Cost of Living Council denied the request despite the increase in wheat prices which has been caused by the sale of U.S. grain to Russia. [CBS] Ex-Teamster leader Jimmy Hoffa, currently on parole, is planning a trip to North Vietnam to negotiate the release of American POW's. White House press secretary Ron Ziegler previously stated that no one at the White House was informed of Hoffa's trip; he later admitted that the President has known of the plan since July. Henry Kissinger consulted with Hoffa's representatives and Attorney General Richard Kleindienst sent one of his aides for consultation. Kissinger mentioned Hoffa's trip to North Vietnam's Le Duc Tho during their Paris meeting. When Secretary of State Rogers learned of the trip, he canceled Hoffa's passport. Hoffa attorney William Taub claims that Kissinger encouraged the trip. [CBS] Serious food shortages in Phnom Penh, Cambodia, have resulted in increased food prices; Cambodians are pillaging stores and warehouses. [CBS] The Pentagon reports that the USS Warrington, which was damaged by two underwater explosions on July 17, now has been hit by a stray mine 20 miles from North Vietnam's mined Haiphong harbor. [CBS] A House-Senate conference committee is proposing a tough end-the-war amendment as a rider to the weapons bill. The amendment calls for U.S. withdrawal from Vietnam within four months if American POW's are released. Senator Edward Brooke, sponsor of the amendment, will also attach it to other legislation. [CBS] McGovern campaign executive assistant Gordon Wilde is reportedly quitting; Wilde denied the report. McGovern's 10-state campaign tour has ended. In Dallas, McGovern discussed food prices with shoppers; in Houston he visited the Manned Spacecraft Center, and in Portland, Oregon, he attended a senior citizens rally. In Los Angeles, McGovern attacked "Nixonomics", and he charged the Nixon administration with corruption and favoritism for big business during a stop in Rockford, Illinois.Speaking in Seattle, McGovern stated that President Nixon's clever public relations men are manipulating the people of America; in Superior, Wisconsin, he charged the administration and the Agriculture Department with a "conspiracy of silence" regarding the exporting of wheat to the Soviet Union. [CBS] The California chapter of the AFL-CIO called for the defeat of President Nixon. [CBS] In St. Louis, Senator Thomas Eagleton greeted Sargent Shriver, his replacement as Democratic vice-presidential nominee; Shriver praised Eagleton's performance during the campaign as being a "profile in courage". [CBS] Senator Mike Mansfield rejected the administration's attempt to pin the "do-nothing" label on Congress. Mansfield accused the White House of neglect with regard to health and welfare reform, tax reform, inflation, recession and the environment. [CBS] American runner Jim Ryun tripped during a qualifying race at the Olympics. The International Olympic Committee has banned two black U.S. trackmen from further competition. Vincent Matthews and Wayne Collett, American gold and silver medalists, failed to stand at attention during the American national anthem at the medal ceremony and are now barred from other races. IOC president Avery Brundage condemned the athletes' actions.Matthews says he is bewildered by the intense reaction to the incident. Relay runner John Smith has withdrawn due to a leg injury and because of the disqualification of his teammates. [CBS] Herbert Stein, chairman of the President's Council of Economic Advisers, doesn't think that food price inflation has been too bad. Stein noted that the same amount of work has been required to earn the price of one pound of hamburger for the past eight years. [CBS] On June 29 the Supreme Court banned the death penalty as being unconstitutional. San Quentin, California, associate warden James Park says that many prisoners are finding it difficult to become "lifers" instead of condemned men. Convicted mass murderer Charles Manson will remain in maximum security. California voters could restore the death penalty for certain crimes. [CBS] Former Secretary of State Dean Rusk said he believes a nuclear war could be started by a computer error. [CBS]

Stock Market Report

Dow Jones Industrial Average: 961.24 (-1.21, -0.13%)
S&P Composite: 110.15 (-0.14, -0.13%)
Arms Index: 1.08

	Issues	Volume*
Advances	598	4.04
Declines	764	5.55
Unchanged	392	1.39
Total Volume		10.98

* 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 7, 1972	962.45	110.29	11.09
September 6, 1972	963.43	110.55	12.01
September 5, 1972	969.37	111.23	10.63
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