News stories from Thursday October 26, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Radio Hanoi in North Vietnam announced that a peace plan has been worked out with the United States. But North Vietnam says the agreement is in jeopardy because the U.S. is backing away from signing it next Tuesday as planned. Henry Kissinger stated that "peace is at hand."
Kissinger confirmed October 31 as the tentative cease-fire date, but said that President Thieu is refusing to go along without further guarantees. Kissinger believes that the remaining details can be settled in one more negotiating session with North Vietnam. The basic agreement contains nine points, including American recognition of Vietnam's independence and its right to be unified; a cease-fire including the end of bombing and U.S. troop withdrawal; the return of POW's; a three-party national council to supervise elections in South Vietnam, and U.S. aid to rebuild Southeast Asia. Laos and Cambodia are included in the cease-fire. Kissinger said that the U.S. will not be stampeded into an agreement nor deflected from one, until and if the provisions are right. He asserted that the Nixon administration's motivation for peace is non-political, noting that North Vietnam, not the United States, is the one which set the date and revealed the plan prior to the U.S. presidential election.
[CBS] - During the secret talks which led to the Vietnam peace agreement, the Communists made major concessions, switching positions on October 8. They dropped their demand for a coalition government to replace President Thieu and decided to accept a cease-fire before a political settlement. The Communists think it is easier to get a better deal from President Nixon now than after the elections. Russia and China have urged North Vietnam to make peace. The bombing and blockade of North Vietnam is thought to have hurt more than Hanoi admits. [CBS]
- Speaking in Detroit, George McGovern grieved that President Nixon did not move earlier for a settlement in Vietnam, but he pledged to support the administration's current efforts for peace. Polls show McGovern picking up momentum as the corruption in government issue is taking hold. [CBS]
- Senate doves and hawks applauded the Vietnam peace development. Senator Humphrey called it promising and reasonable; Senators Mansfield, Kennedy and Stennis said that they hope peace really is near. [CBS]
- At the Paris Peace Talks, Viet Cong foreign minister Madame Binh charged the U.S. with defaulting on its word to sign the agreed peace plan on October 31 by claiming difficulties with the South Vietnamese government; U.S. Ambassador William Porter had no comment. North Vietnamese Ambassador Xuan Thuy promised to put the details of the peace plan on the conference table. [CBS]
- Preparations for the cease-fire are underway in South Vietnam. The U.S. carrier "America" is still in combat position, but its missions have been significantly reduced although ground fighting has intensified. 100 Communist-initiated incidents have been reported in the past 24 hours. South Vietnamese flags have been ordered to be displayed everywhere. [CBS]
- No Americans were killed in Vietnam last week; four are MIA and 14 were wounded. 580 ARVN were killed. [CBS]
- An epidemic of polio has broken out at a private school in Greenwich, Connecticut. The children are Christian Scientists and had not been immunized. [CBS]
- The latest Gallup poll shows President Nixon with 59% and George McGovern with 36%. McGovern has gained six points in the last two months, mostly from blue-collar workers. [CBS]
- The attitudes of blue-collar workers were sampled. In Linden, N.J., a political rally for retired auto workers was held. A strong labor vote for Democrats was urged by union leaders as UAW officials celebrated labor's sway to McGovern. In Birmingham, Alabama, white steelworkers (though they are Democrats) back President Nixon. Black steelworkers favor Senator McGovern; management backs Nixon. Former Wallace supporters here have switched to Nixon.
In Gary, Indiana, many steelworkers admit they were almost sick when McGovern was nominated, but they have been lured back into the fold by his honesty. Black, blue-collar Democrats should provide a strong base for McGovern here. No one seems perturbed, however, with the reported scandal in the Republican administration. In Long Beach, California, losses and layoffs plague the West coast aerospace industry; workers are worried about losing their jobs and they resent the Pay Board for cutting off raises. Their union, the UAW, endorsed McGovern. Many workers, however, will vote for President Nixon because McGovern will cut defense spending.
[CBS]
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Stock Market Report
Dow Jones Industrial Average: 950.56 (-0.82, -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* |
| October 25, 1972 | 951.38 | 110.72 | 17.43 |
| October 24, 1972 | 952.51 | 110.81 | 15.24 |
| October 23, 1972 | 951.31 | 110.35 | 14.19 |
| October 20, 1972 | 942.81 | 109.24 | 15.74 |
| October 19, 1972 | 932.12 | 108.05 | 13.85 |
| October 18, 1972 | 932.34 | 108.19 | 17.29 |
| October 17, 1972 | 926.48 | 107.50 | 13.41 |
| October 16, 1972 | 921.66 | 106.77 | 10.94 |
| October 13, 1972 | 930.46 | 107.92 | 12.87 |
| October 12, 1972 | 937.46 | 108.60 | 13.13 |