News stories from Wednesday November 1, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Chinese Premier Chou En-lai expressed pessimism about peace in Vietnam to visiting British newsmen; President Thieu of South Vietnam blasted the peace agreement. In a National Day speech, Thieu said that the U.S.-North Vietnam peace agreement amounts to the surrender of South Vietnam to the Communists. Thieu's hard line may be aimed at saving face. [CBS]
- In Paris, the Viet Cong rejected President Thieu's conditions for North Vietnam's withdrawal from South Vietnam as "insolent" demands. The cease-fire may be slipping out of America's grasp as all sides are stiffening their stances. [CBS]
- A U.S. helicopter crashed southwest of Saigon with 22 Americans on board; nine bodies have been recovered. [CBS]
- The new campaign finance law went into effect on April 7. Up to now, Republicans had maintained that they need not disclose any contributions prior to that date. Common Cause, the citizens lobby, sued to force disclosure under an old law. Republicans have agreed to a settlement to release information on all contributors over $100 through March 9 and will also furnish the court with information up to April 7, along with a record of expenditures. Common Cause chairman John Gardner called it a victory for the American people, claiming that the Republicans accepted the settlement because they didn't want finance chairman Maurice Stans and former treasurer Hugh Sloan to testify in court.
Stans reported that the contributors have waived their right of privacy, although Republican campaign director Clark MacGregor stated just last week that disclosure was impossible because too many contributors had refused to waive that right.
[CBS] - The trial of Watergate defendant Bernard Barker ended in Miami, with Barker being convicted of falsely using a notary public seal on a Republican campaign check. Republican Midwest finance chairman Kenneth Dahlberg testified that he endorsed the check and gave it to Maurice Stans. Hugh Sloan says that he gave the money to G. Gordon Liddy, head of Republican security. Judge Paul Baker gave Barker a 60-day suspended sentence.
Barker said that the verdict affirms his faith in the American judicial system. Dade County states attorney Richard Gerstein noted that the case at least caused the Watergate incident to receive more attention and investigation.
[CBS] - George McGovern held a rally today in Manhattan, motorcading down Fifth Avenue with his wife and Mayor John Lindsay before a large crowd. McGovern asked the audience how men who break the law in the White House can be expected to reduce crime in the streets. [CBS]
- In a radio campaign speech, President Nixon stated that his administration has helped make cities livable again. [CBS]
- Vice President Spiro Agnew's speech in San Diego was disrupted by demonstrators. The hecklers used whistles (a tool once used by Agnew to quiet hecklers) to drown out Agnew. Agnew asked why the protesters weren't wearing swastika arm bands, and said that their stormtrooper tactics will fail and there will be free speech in America. [CBS]
- Commentator Eric Sevareid observed that the opinion polls in American presidential elections are often more interesting than the campaign. He described Senator McGovern as strong, both physically and emotionally, and contrasted McGovern's backing by the "moral elite" to President Nixon's support from the "power elite". [CBS]
- A study of government drug control programs accused the government of overpreaching and scare tactics; the report urged the acceptance of limited drug use. The Department of Health, Education and Welfare critiqued the study made by a private research company which was funded by a federal grant. [CBS]
- 12-year-old Kevin Marshall, a hemophiliac, requires treatments which cost $1,000 a month. Pennsylvania Governor Milton Shapp announced that the state will guarantee the treatments without forcing the Marshall family to go on welfare. [CBS]
- American poet Ezra Pound died in Venice, Italy, at the age of 88. [CBS]
- Canadian Prime Minister Pierre Trudeau postponed a decision on the future course of his Liberal government which lost in yesterday's general election. [CBS]
- Republicans need a net gain of six seats to win Senate control. In Mississippi, Republican Gil Carmichael has been abandoned by the Nixon re-election campaign in his bid for the Senate seat. Democrat James Eastland, chairman of the Judiciary Committee, has pleased the White House and is therefore immune from the Republicans' attempted sweep of Congress. Prentiss Walker and C. L. McKinley are also on the ballot.
In Alabama, Democratic Senator John Sparkman has disavowed George McGovern and is emphasizing projects he has brought to Alabama. John LeFlore, a black running as an independent candidate, may take some of Sparkman's votes. Alabama Governor George Wallace endorsed Sparkman; President Nixon favors former Postmaster General Winton Blount. Visits to Alabama by Earl Butz, Spiro Agnew, Tricia Nixon Cox and Rogers Morton attempted to help Blount. Blount says that beneath it all, Sparkman is a McGovern man.
[CBS]
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Stock Market Report
Dow Jones Industrial Average: 968.54 (+13.02, +1.36%)
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 31, 1972 | 955.52 | 111.58 | 15.45 |
| October 30, 1972 | 946.42 | 110.59 | 11.82 |
| October 27, 1972 | 946.42 | 110.62 | 15.47 |
| October 26, 1972 | 950.56 | 110.99 | 20.79 |
| 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 |