News stories from Thursday September 14, 1972

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

A Harris poll shows that President Nixon has increased his lead to 34% over George McGovern. A Gallup poll shows the same wide margin. [CBS] George McGovern's two-week tour is drawing large crowds. Senator Edward Kennedy recalled his brother John's lag in the 1960 polls; McGovern noted low polling figures before primaries which he came back and won. In Albany, New York, Kennedy joked that Governor Nelson Rockefeller would leave Albany and go to Washington, DC if President Nixon is re-elected, but said that's no reason to vote for Nixon. McGovern said that America can't use four more years of unemployment. [CBS] An Illinois judge ordered Chicago alderman William Singer and 58 other anti-Daley Democratic national convention delegates to stand trial for contempt. [CBS] President Nixon's campaign finance chairman Maurice Stans has filed a $5 million libel suit against McGovern campaign manager Lawrence O'Brien, saying that O'Brien made malicious charges which he knew were untrue. Stans is seeking to defend his reputation and hold Democrats accountable for their character assassination.The FBI checked Democrat party headquarters after the June break-in, but now a new bugging device has been found in Spencer Oliver's telephone. Secretary Lisa Haldane said that she heard suspicious noises on Oliver's phone and had it checked. Bugging expert Clyde Wallace described the bugging device as amateurish and antiquated. [CBS] The Senate approved President Nixon's agreement with Russia to freeze ICBM's for five years, and sent the resolution to a conference with the House. Senator Henry Jackson's amendment to ensure equal U.S.-USSR arsenals in the permanent treaty was included. [CBS] The House rejected a proposal to cut off funds for sustaining the U.S. military presence in Vietnam. [CBS] Henry Kissinger's talks in Moscow resulted in a U.S.-Soviet trade deal; Kissinger angled for Soviet help in ending the Vietnam war in exchange for that deal. The U.S.-Soviet wheat deal has already resulted in increased domestic grain prices. Now 20 million bushels of American wheat will be sold to China. A member of the Chicago Board of Trade said that the amount of wheat being sold to China isn't large, but its psychological impact will further boost the market. [CBS] South Vietnamese marines continued their fight for Quang Tri's citadel. [CBS] One American was killed in Vietnam last week and eight were wounded; three are MIA. 638 South Vietnamese troops died, and 3,000 enemy. [CBS] The allies rejected the Viet Cong's latest proposal at the Paris Peace Talks. Secretary of Defense Laird stated that the U.S. would consider cutting economic and military aid to South Vietnam in exchange for peace. [CBS] President Idi Amin of Uganda expelled Asians from his country and praised Adolf Hitler for killing Jews; the U.S. State Department has withdrawn its $3 million loan to Uganda as a result of Amin's actions. Although Uganda has been a Christian nation, General Amin is Muslim and pro-Arab. He ordered the Asians out because the Asians are Hindus and therefore enemies of Muslims. [CBS] Pope Paul has banned women from even the smallest formal role in the Catholic Church. [CBS] Theatrical unions and some congressmen have asked the Federal Communications Commission to limit television network reruns of movies. President Nixon wrote to John Gavin (president of the Screen Actors Guild) and sided with the Guild in its dispute over television reruns, saying that they threaten the U.S. film industry. Paul Whitehead, director of the U.S. Office of Telecommunications Policy, is looking into the matter and noted that reruns enable the networks to make high profits. CBS television president Robert Wood called the proposals "cockeyed"; ABC and NBC claim that putting limits on reruns would hurt the film industry. [CBS]

Stock Market Report

Dow Jones Industrial Average: 947.55 (-2.33, -0.25%)
S&P Composite: 108.93 (+0.03, +0.03%)
Arms Index: 0.95

	Issues	Volume*
Advances	673	5.53
Declines	670	5.23
Unchanged	397	1.74
Total Volume		12.50

* 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 13, 1972	949.88	108.90	13.07
September 12, 1972	946.04	108.47	13.56
September 11, 1972	955.00	109.51	10.71
September 8, 1972	961.24	110.15	10.98
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