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Monday September 11, 1972
. . . where the 1970s live forever!

News stories from Monday September 11, 1972


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

  • Maurice Stans was President Eisenhower's budget director, President Nixon's Commerce Secretary, and is now Nixon's chief fundraiser. Democrats have accused Stans of being involved in the plot to bug the Democratic national headquarters, and they are charging the Nixon re-election campaign with political espionage and conspiracy. Hugh Sloan, G. Gordon Liddy and, E. Howard Hunt are named along with Stans and the Committee to Re-Elect the President as defendants in the case. Republican campaign director Clark MacGregor criticized Democrats for libeling honorable men and he instructed party attorneys to file a countersuit for malicious prosecution. [CBS]
  • George McGovern criticized President Nixon's farm policies. Agriculture Secretary Earl Butz disputed McGovern's charges that giant grain corporations reaped windfall profits through inside information regarding the opening of wheat sales to Russia. Butz called McGovern's charge a lie and demanded a retraction. McGovern says that Butz's reaction indicates that he hit a sore point with his charges. Senator Edward Kennedy is joining McGovern on the campaign trail. [CBS]
  • The Associated Press reports that South Vietnam's government-controlled radio and television stations have been told to stop criticizing George McGovern so bitterly; the American embassy had protested. [CBS]
  • Henry Kissinger and North Vietnam's Le Duc Tho crossed paths in Moscow; more secret talks in Paris are being speculated. The Viet Cong has issued a new peace proposal, no longer insisting on the resignation of President Thieu, but they still want him to be removed from power. The V.C. called for a three-sided coalition government, the withdrawal of American troops, and the end of the bombing and blockading of North Vietnam. [CBS]
  • A stockpile of bombs exploded near Saigon, destroying 70 South Vietnamese helicopters. Two South Vietnamese were killed and 41 Americans were wounded. [CBS]
  • American planes struck a bridge and a military barracks near Hanoi. A Navy jet was shot down by a surface-to-air missile. [CBS]
  • Arab nations are angered by the U.S. veto of a United Nations Security Council resolution condemning Israel's retaliation for Arab guerrillas' terrorism at the Munich Olympics. Syria threatened to take action against nations which support Israel. In Brussels, Belgium, a member of the Israeli legation staff was ambushed; a Moroccan is being sought. [CBS]
  • The 20th Olympiad has ended in Munich. American Frank Shorter won the 26-mile marathon. The USSR won the most total medals and the most gold; the U.S. was second in both categories. International Olympic Committee chairman Avery Brundage says that the more important the Olympics become, the more evident are political, commercial and even criminal elements. [CBS]
  • A federal judge in San Francisco has ruled that a law requiring U.S. banks to disclose domestic financial transactions is unconstitutional. The law was passed as part of a measure to uncover hidden U.S. holdings in Swiss banks. [CBS]
  • One year ago, prisoners seized control of the Attica, New York, state prison. In recreation yards, sports equipment has been reissued and teams organized. Black guards have been hired. No screen separates inmates from visitors now. The commissary is better-stocked, inmates can make telephone calls, the school has been reopened and the chapel repaired. But deputy warden Howard Smith noted that the potential for trouble is always present, and prisoners say the atmosphere is still tense. [CBS]
  • The trial of Juan Corona opened in Fairfield, California. Corona, a farm labor contractor, is accused of committing the largest mass murder in U.S. history; the bodies of 25 farm workers were found buried near Yuba City, California. Relatives and friends believe that Corona is innocent. [CBS]
  • The National Academy of Sciences reported that cigarette smoking and air pollution cause lung cancer. [CBS]
  • The first new rapid transit system in half a century opened in California. The San Francisco bay area has received a fleet of quiet, quick, air-conditioned electric trains for commuters. The Bay Area Rapid Transit ("BART") system is computer-controlled. [CBS]
  • A British professor predicted that a new ice age is creeping over the northern hemisphere, but the peak of the ice age won't be reached for another 10,000 years. [CBS]


Stock Market Report

Dow Jones Industrial Average: 955.00 (-6.24, -0.65%)
S&P Composite: 109.51 (-0.64, -0.58%)
Arms Index: 1.15

IssuesVolume*
Advances4102.46
Declines1,0167.00
Unchanged3271.25
Total Volume10.71
* 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
DateDJIAS&PVolume*
September 8, 1972961.24110.1510.98
September 7, 1972962.45110.2911.09
September 6, 1972963.43110.5512.01
September 5, 1972969.37111.2310.63
September 1, 1972970.05111.5111.60
August 31, 1972963.73111.0912.34
August 30, 1972957.86110.5712.47
August 29, 1972954.70110.4112.30
August 28, 1972956.95110.2310.72
August 25, 1972959.36110.6713.84


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