News stories from Monday October 9, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- In August, 1969, Henry Kissinger held the first of his secret peace talks with top North Vietnamese officials. Now he will be holding his 19th meeting with North Vietnam's Le Duc Tho, to last (for the first time) three days. The announcement of the meetings fueled speculation that a settlement of the Vietnam war is closer than ever. But White House sources are skeptical of recurrent rumors concerning peace in Vietnam. They cite several roadblocks: South Vietnam President Thieu doesn't want to resign; no replacement is acceptable to both sides; no neutral parties for a three-legged government have been proposed; and President Nixon sees no need for a compromise with the Communists in order to win re-election.
State Department officials are not being informed of developments in order to avoid leaks. Kissinger may be discussing a cease-fire limited to South Vietnam. North Vietnam has stopped criticizing Kissinger's negotiating strategy in Paris.
[CBS] - Two American planes were downed in North Vietnam. U.S. B-52's mistakenly hit Cambodian hamlets in a non-military zone, killing 88 civilians. [CBS]
- Democrats are stepping up their attacks on President Nixon's Vietnam war policy. Nixon made a speech four years ago today in which he said that those who could not produce peace in four years should not be given another chance. Today in Philadelphia, Democratic vice-presidential nominee Sargent Shriver said that the President has had four years now; Senator Adlai Stevenson III noted the irony that the President proclaimed a "generation of peace". Senator Edmund Muskie acknowledged Nixon's accomplishments with China and Russia, but pointed out that the Vietnam war goes on.
The McGovern campaign is going to begin emphasizing the negative aspects of President Nixon rather than the positive aspects of McGovern.
[CBS] - Tricia Nixon Cox, New York Governor Nelson Rockefeller and Transportation Secretary John Volpe attended New York City's Columbus Day parade. Also in New York City, George McGovern wooed Italians by walking 25 blocks in the parade and stopping at St. Patrick's Cathedral to speak with Cardinal Terence Cooke. McGovern then arrived at a reviewing stand, but it was filled with Nixon campaigners. New York City Mayor John Lindsay left the other Republicans to join McGovern and his state campaign chairman Robert Wagner. [CBS]
- Mrs. Pat Nixon walked into a group of Democrats in Chicago. She led the Chicago Columbus Day parade alongside Mayor Richard Daley and stood with him in a reviewing stand, surrounded by Democrats. [CBS]
- The state of California is now using computers to check welfare recipients' figures against those of their employers; a fraud rate of 41% has been found. California welfare director Robert Carleson said that this finding is just the tip of the iceberg, and other fraudulent information is expected to be uncovered. Welfare rights attorney Ralph Abascal fears a wholesale purge of welfare recipients, similar to Nevada's a year ago which the U.S. Department of Health, Education and Welfare reversed. [CBS]
- In Clearwater, Florida, the securities fraud trial of Glen Turner again was postponed. Turner, the super-salesman son of a poor farmer, overcame a harelip to amass a $100 million fortune with a cosmetics firm and a self-improvement course called "Dare to Be Great." Turner is building a castle home in Sanford, Florida, and he says that he doesn't permit negative people to be around him. [CBS]
- A secret engineering report was disclosed in Paris, France, stating that the Eiffel Tower is the victim of steady corrosion. [CBS]
- The dispute over national forests continues to rage between those who want more roads so that more people can enjoy the parks, and those who say that roads would ruin them. A case involving the Santa Fe National Forest in New Mexico has reached the Supreme Court. The Justice Department promised that there will be no road building until reports on the effects to the environment are complete. [CBS]
- George McGovern will make a major policy speech on the Vietnam war; Henry Kissinger is returning soon from meetings with North Vietnamese negotiators in Paris. If President Nixon does find peace in Vietnam, McGovern's chance of being President will be lost. But the Nixon administration has previously made statements that peace in Vietnam was near, which proved to be inaccurate. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 948.75 (+3.39, +0.36%)
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* |
| October 6, 1972 | 945.36 | 109.62 | 16.63 |
| October 5, 1972 | 941.30 | 108.89 | 17.73 |
| October 4, 1972 | 951.31 | 110.09 | 16.64 |
| October 3, 1972 | 954.47 | 110.30 | 13.09 |
| October 2, 1972 | 953.27 | 110.16 | 12.44 |
| September 29, 1972 | 953.27 | 110.55 | 16.25 |
| September 28, 1972 | 955.15 | 110.35 | 14.71 |
| 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 |