News stories from Thursday September 28, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The three American POW's who were released by North Vietnam landed today in New York City. Mark Gartley, Norris Charles and Edward Elias traveled home via China, Russia and Denmark. In Copenhagen, Lt. Charles called for an end to the Vietnam war and the release of all POW's. Gartley praised the work of the anti-war activists who secured their release and escorted them home; he said that he will tell the truth, though propaganda may result. The Pentagon expects the POW's to return to American military control. [CBS]
- William Porter, the American ambassador to the Paris Peace Talks, stated that North Vietnam has cynically exploited the released POW's as propaganda pawns. The peace talks give no hint that peace is any closer. [CBS]
- President Nixon addressed the National Cancer Conference in California and praised the Soviet-American agreement to cooperate in medical research. The President added $3.8 million to Republican campaign funds with his speeches. [CBS]
- Senator McGovern talked about urban problems with big-city mayors in Washington, DC. Ten mayors attended; Joseph Alioto of San Francisco and Richard Daley of Chicago support the Urban Policy Panel and the Mayors for McGovern Committee. McGovern charged President Nixon with urban neglect, especially in federal housing. [CBS]
- The New York Times endorsed George McGovern for president. [CBS]
- Rep. Emanuel Celler announced his retirement from Congress. [CBS]
- The FBI crime report for the first six months of 1972 showed the smallest increase since reports began in 1960. Attorney General Richard Kleindienst praised President Nixon's battle against crime. George McGovern claimed that the crime rate has increased 33% during the Nixon administration. [CBS]
- The Agriculture Department reported that a market basket of food for a family cost 0.1% less in August than July's all-time high. The Cost of Living Council reported that beef prices dropped, but retailers did not pass the savings on to consumers. [CBS]
- The Senate Armed Services Committee heard reports that Navy pilots made unauthorized bombing raids on North Vietnam. Former Navy flier William Groper testified that he heard pilots being briefed for two such raids. Lt. William Moore stated that there were no such orders from the USS Constellation. Sgt. Lonnie Franks, who first reported the unauthorized Air Force bombings, was promoted to staff sergeant as a reward for his report. [CBS]
- One American was killed, six wounded, and 13 were missing in action in the Vietnam war last week. [CBS]
- Japan and China have agreed to normalize relations and end their 35-year-old state of war. Chinese Premier Chou En-lai lauded the action. Nationalist China is preparing to sever relations with Japan and the government has alerted police to prevent reprisals against Japanese in Taiwan. [CBS]
- In Paris, a fire destroyed Le Drugstore on the Champs Elysees; the restaurant was owned by a Jewish businessman. "Black September" Palestinian terrorists claimed responsibility. [CBS]
- The National Weather Service reported a drought in the southwestern United States.
In San Luis Obispo, California, rainfall has been only 6% of the normal rate. Cattle farmers are reducing their stock as the grass dies. The creeks have dried up and cattlemen are having to purchase hay for feed. California Cattlemen's Association president Edward Biaggins said that beef prices will increase as a result. The dead brush poses a fire threat as well.
[CBS] - The Soviet Union's European wheat crop failure led to a big grain purchase from the United States. Now the Soviets' Asian crop is being ruined by rain. A Montana representative in Congress asked government auditors to determine whether the huge profits made by grain exporters in the U.S.-Soviet wheat deal can be recovered if those profits resulted from illegal inside information. [CBS]
- The Pentagon is planning for the day when all American POW's are released from Vietnam. When POW's return they face little understanding, estranged wives, children who don't know them, guilt, depression and confusion. "Operation Egress Recap" is a new program to help returning POW's. The POW's will first enter American hospitals in Asia, then hospitals in America, where they will receive medical and psychiatric treatment. The military now thinks that an abrupt transition featuring celebrations, such as was the case for POW's returning from Korea, was too hard on the men. The treatment of POW's who return from North Vietnam will be low-key and private. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 955.15 (+7.90, +0.83%)
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 27, 1972 | 947.25 | 109.66 | 14.62 |
| September 26, 1972 | 936.56 | 108.17 | 13.15 |
| 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 |