News stories from Tuesday September 26, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Senate killed an effort to pass an end-the-war amendment. Wavering Republicans are wavering less in this presidential campaign year, and the Senate, eager to recess, wanted to avoid a lengthy debate; many anti-war senators were absent. The amendment would likely have been killed by the House anyway. Edward Brooke's amendment set a four-month deadline to pull out from southeast Asia. John Stennis moved to strike the amendment and Vice President Agnew was present to break a possible tie. The vote was 45-42. Absentees included Senators Jordan, Saxbe, Stafford, Taft, McGee, Metcalf, Spong, Williams, McGovern and Humphrey; Brooke criticized McGovern's absence.
The Senate passed the $1.8 billion foreign aid military authorization bill 46 to 41.
[CBS] - Responding to Senator Brooke's criticism, George McGovern said that the only way to end the war is to change the president; Congress alone can't do it. Hubert Humphrey noted that even if he and McGovern had been present for today's vote on Brooke's end-the-war amendment, their two votes would not have changed the outcome. [CBS]
- A new Harris poll shows President Nixon with only a 28% lead over Senator McGovern. [CBS]
- President Nixon is not being lulled into complacency by his lead in the polls. President and Mrs. Nixon toured a new immigrants' museum at the base of the Statue of Liberty. Ethnic groups were well-represented in the crowd. Nixon praised immigrants for their patriotism to America as anti-war activists shouted; the crowd responded with chants of "four more years". The President met with Jewish leaders and with New York Governor Rockefeller and Senators Javits and Buckley. A fundraising dinner and a closed circuit television speech will be broadcast to 29 cities tonight. [CBS]
- The heads of nine of the 17 AFL-CIO building trade unions have endorsed President Nixon; AFL-CIO president George Meany's plumbers union is among them. [CBS]
- American Airlines and the Democratic national committee are involved in a dispute with each other regarding the Democrats' failure to pay bills. Party treasurer Donald Petrie blamed the airline's computer for the error. [CBS]
- Wheat growers who sold their grain before the sale to Russia drove prices up may get compensation for loss of profit. The House Agriculture Committee voted to pay farmers price support subsidies. [CBS]
- Henry Kissinger met today in Paris with North Vietnamese negotiators; talks will continue tomorrow. [CBS]
- The three American POW's who were released by North Vietnam are now in Peking, China, on the way back to America. Their anti-war activist escort group said that North Vietnam claims that packages mailed to POW's have contained spying devices. [CBS]
- Japanese Prime Minister Tanaka and Chinese Premier Chou En-lai met in Peking for a second day in an attempt to end the hatred between their two nations. Taiwan has threatened economic retaliation if Japan recognizes Communist China, and a Japanese fishing boat was seized. [CBS]
- President Marcos of the Philippines hopes to lift martial law as soon as possible, perhaps within his presidential term (1¼ year). He also hopes to break up the organization of Communist rebels and to enact social reforms. [CBS]
- The U.S. presented its proposals for monetary reform to the International Monetary Fund, which is meeting in Washington, DC. Treasury Secretary George Shultz endorsed a more flexible system based on the U.S. dollar, which could fluctuate. [CBS]
- Soviet Foreign Minister Andrei Gromyko spoke at the United Nations as Jewish rabbis, Catholic priests and Protestant ministers chained themselves together on the steps of the U.S. mission near the U.N. building. Young people joined in the protest of the treatment of Soviet Jews.
At the U.N., Gromyko spoke of the struggle for justice by the Arab people of Palestine. But he said that he does not condone acts of terrorism such as occurred at the Olympics. Gromyko stated that the Vietnam war will continue until the U.S. accepts the Communists' terms.
[CBS] - In a national referendum, Norway has declined to join the European Common Market. Danish Prime Minister Jens Otto Krag said that Norway's action won't affect Denmark's vote on Monday; the British have also called for a referendum. [CBS]
- The U.S. Postal Service plans a new system of regional sorting centers to speed mass mail delivery. However, Rep. Robert Nix of the House Post Office Committee said that the new system would delay regular mail. [CBS]
- The engine for new Ford cars failed to meet government anti-pollution standards. The EPA said that the Maverick and Comet engine failed the 50,000-mile test and therefore cannot be sold. [CBS]
- The 1,900-year-old Colosseum in Rome will be closed to tourists due to decay; repairs will be made. [CBS]
- The British government approved an airline's request for cheap new air service between London and New York City. Fares would be $80 one-way in the offseason and $93 in the summer. Approval by the U.S. Civil Aeronautics Board is also needed. [CBS]
- Federal investigators are looking into the plane crash which killed 22 people at a Sacramento ice cream parlor. The rebuilt F-86 fighter plane is being studied, and pilot Richard Bingham was questioned. William Haley of the National Transportation Safety Board said that the pilot used a shorter runway to avoid waiting to take off; the pilot tried to take off until he ran out of runway. California Department of Aeronautics director Joseph Crotti pointed out that the state warned against the development of a shopping center so close to the runway. [CBS]
- Fifteen Philadelphians who were charged with failing to pay the city's wage tax brought horses and chickens to City Hall to use as bail. The said that such form of payment was permitted in the 18th century, when the law which they broke was originally written. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 936.56 (+0.83, +0.09%)
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 25, 1972 | 935.73 | 108.05 | 10.92 |
| September 22, 1972 | 943.03 | 108.52 | 12.57 |
| September 21, 1972 | 939.49 | 108.43 | 11.94 |
| September 20, 1972 | 940.25 | 108.60 | 11.98 |
| September 19, 1972 | 943.18 | 108.55 | 13.33 |
| September 18, 1972 | 945.36 | 108.61 | 8.80 |
| September 15, 1972 | 947.32 | 108.81 | 11.69 |
| September 14, 1972 | 947.55 | 108.93 | 12.50 |
| September 13, 1972 | 949.88 | 108.90 | 13.07 |
| September 12, 1972 | 946.04 | 108.47 | 13.56 |