News stories from Monday October 16, 1972

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

President Nixon made a surprise visit to a meeting of the families of POW's, where he linked the issue of POW's to the issue of amnesty. The President said that POW's and MIA's will not be abandoned, and he implied that Senator McGovern would leave their fate to the goodwill of the enemy. He said it would be immoral to grant amnesty to draft dodgers and deserters while POW's are still imprisoned in North Vietnam. [CBS] The Washington Post and Time magazine reported that presidential appointments secretary Dwight Chapin was a contact man for the Republican espionage operation.In Los Angeles, George McGovern told labor leaders at a press conference how he would convert military workers to domestic jobs, and he commented the on Washington Post story. Fire marshals entered the meeting and moved television camera crews which they said were blocking aisles. McGovern press secretary Richard Dougherty complained to the fire marshal about the disruption, and McGovern told members of the press to sit down and cover the news conference instead of the fire marshal. UAW local president Clarence Gregory claimed that the fire marshal was part of a paid disruption activity. McGovern stated that the Nixon campaign is the most ruthless, opportunistic and heavily-financed in history. Former Treasury Department attorney Donald Segretti was allegedly recruited for the Republican spying operation. Nixon campaign director Clark MacGregor denied that Segretti ever worked for the campaign and he charged the McGovern campaign with mudslinging. MacGregor said that President Nixon will continue to discuss the issues. [CBS] A Gallup poll shows President Nixon with 60% and Senator McGovern with 34%. A Yankelovich survey shows Nixon with 57%; McGovern, 27%. [CBS] Canadian Prime Minister Pierre Trudeau is campaigning hard for re-election. The phenomenon of "Trudeau-mania" seems to be disappearing and the victory of his Liberal party is no longer a sure thing. Robert Stanfield of the Progressive Conservative party is a contrast to Trudeau. Stanfield says that he is concerned with unemployment and he attacked Trudeau's lack of concern. The Social Credit party and the New Democratic party also oppose Trudeau. Trudeau argues that Canadians have never had it so good. [CBS] The Senate added another delay to Congress' adjournment, cutting money from the foreign aid bill and returning it to the House. [CBS] Chicago police are searching for two more members of a gang of militant black Vietnam veterans who call themselves "De Mau Mau" gang. Six members have been arrested so far in connection with the random murders of nine whites. Dishonorably discharged from Vietnam, most gang members are hard-drug users. [CBS] Five major Mafia families are said to be operating in the New York City area. Their headquarters for organized crime activities has been found: a junkyard trailer in Brooklyn. [CBS] The Justice Department's antitrust suit against IBM is now in court. The department recommends breaking up IBM into competing companies. [CBS] Flour prices have increased due to wheat sales to Russia, so the baking industry requested a compensating rise in bread prices from the Price Commission. A bakery in Portland, Oregon, has now closed due to the commission's delay in taking action. [CBS] General Creighton Abrams was sworn in as Army Chief of Staff. He will go to Vietnam to evaluate the "Vietnamization" which he once directed. [CBS] The Supreme Court declined to rule on the constitutionality of the Vietnam war. [CBS] Chile's labor crisis has erupted into riots. Salvador Allende's government spokesman called the riots a "revolt." [CBS] In the Texas Senate race, President Nixon has endorsed John Tower for re-election. Barefoot Sanders, a former assistant to President Johnson, is challenging Tower's Senate record; "Barefoot" was his mother's maiden name. Sanders refuses to apologize for the Democratic ticket, but doesn't mention George McGovern; Tower's campaign is the serene and stately one of an incumbent. Tower says he is not vulnerable, and will "kick the tar" out of his opponent. [CBS]

Stock Market Report

Dow Jones Industrial Average: 921.66 (-8.80, -0.95%)
S&P Composite: 106.77 (-1.15, -1.07%)
Arms Index: 1.19

	Issues	Volume*
Advances	415	2.57
Declines	985	7.26
Unchanged	349	1.11
Total Volume		10.94

* 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*
October 13, 1972	930.46	107.92	12.87
October 12, 1972	937.46	108.60	13.13
October 11, 1972	946.42	109.50	11.90
October 10, 1972	951.84	109.99	13.31
October 9, 1972	948.75	109.90	7.94
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