News stories from Friday November 3, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon campaigned today in Illinois, Oklahoma and Rhode Island in order to aid other Republicans. In Chicago, 25,000 people attended an airport rally as the President boosted Republican Governor Richard Ogilvie and Senator Charles Percy in their bids for re-election. He called on protesters to respect the rights of others and to conduct themselves with civility and decency. In Tulsa, Oklahoma, Nixon tried to help former Governor Dewey Bartlett win retiring Democrat Fred Harris' Senate seat. Democrat Ed Edmondson opposes Bartlett. [CBS]
- Senator George McGovern is preparing a major television address in reply to President Nixon's Vietnam speech. McGovern canceled a rally at Michigan State University today but kept a date at Grand Rapids, where he spoke to a group of ministers and said that he is skeptical that peace will come soon. McGovern aide Frank Mankiewicz stated that the Senator feels President Nixon's Vietnam tactics are not a path to peace but rather a detour around election day. [CBS]
- The Supreme Court ruled that two minor presidential candidates may campaign among soldiers at Fort Dix, New Jersey. Justice Louis Powell cast the deciding vote to uphold a lower court ruling that the Army cannot close Fort Dix to People's Party candidate Dr. Benjamin Spock and Socialist Workers party candidate Linda Jenness. [CBS]
- Que Son fell today for the sixth time in the Vietnam war, this time back to the South Vietnamese. The government has also retaken an airfield near An Loc. North Vietnamese troops returned to the hamlet of Xam Suoi, where fighting resumed. But the talk of peace may be making soldiers less eager to press an attack. [CBS]
- The proposed peace agreement calls for the withdrawal of all U.S. military forces from South Vietnam. The United States plans, however, to keep civilian advisers in South Vietnam.
President Nixon, in his televised speech, described the remaining points to be negotiated with North Vietnam as being major ones which can make the difference between temporary and lasting peace; North Vietnam charged the President with betrayal and Chinese Premier Chou En-lai said that he is disappointed. President Nixon had apparently OK'd the October 31 peace deadline, then changed his mind due to President Thieu's objections and the lack of pressure for pre-election peace.
[CBS] - The Labor Department reported that the unemployment rate in October was unchanged at 5.5%. The labor force increased by 260,000 workers. [CBS]
- This year's presidential election is the most costly in U.S. history. The Nixon campaign has spent $36 million; Senator McGovern has spent $18 million. President Nixon's staff has made public the names of some contributors who made payments prior to the disclosure deadline. Common Cause, whose lawsuit forced those disclosures, has its staff working to analyze the $4.8 million in big contributions which were made before March 10, but $9 million worth of contributions is still secret.
The contributors who were named include many ambassadors: Clement Stone, Arthur Watson, John Humes, John Irwin, Vincent deRoulet, Mrs. John Whitney Payson, Raymond Guest and Henry Catto. Comptroller General Elmer Staats says that campaign financing is a national scandal. Rep. Henry Reuss claims that the Nixon administration failed to follow Department of Health, Education and Welfare recommendations for a suit against a subsidiary of Gulf Resources of Texas to halt the dumping of poison into Idaho waters. Gulf Resources helped transfer campaign funds through Mexico which ended up in Watergate defendant Bernard Barker's bank account. Stone admitted that he actually has given more than $1 million to the Nixon campaign.
[CBS] - American Indians who are protesting government policies toward them continue to occupy the Bureau of Indian Affairs building in Washington, DC. [CBS]
- One of every three American voters resides in the suburbs. The Littleton, Colorado, suburb of Denver is relatively rich and regularly Republican; President Nixon is way ahead there. Watergate and the politics of Vietnam peace are troubling some voters but those issues haven't changed many votes.
Nixon carried Evanston, Illinois (a Chicago suburb) over Hubert Humphrey in 1968, but McGovern is favored this year. The Northwestern University vote is not decisive. Young professionals vote for the man, not the party.
In the Atlanta suburbs, Richard Nixon represents the status quo, George McGovern represents too much change. Residents here subscribe to the work ethic, not the welfare ethic; they favor neighborhood schools, not busing.
Mt. Kisco, N.Y. is a Republican suburb of New York City where voters are complacent about a Nixon victory. Local Democratic candidates hope for split tickets, however.
[CBS]
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Dow Jones Industrial Average: 984.12 (+11.06, +1.14%)
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* |
| November 2, 1972 | 973.06 | 113.23 | 20.69 |
| November 1, 1972 | 968.54 | 112.67 | 21.36 |
| 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 |