News stories from Friday December 1, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The United States will reportedly sign a peace agreement with North Vietnam regardless of the wishes of South Vietnam. President Thieu must sign the pact or risk the suspension of all American aid. North Vietnam will release American POW's within 10 days of the signing. Meetings between South Vietnamese envoy Nguyen Phu Duc, Henry Kissinger and President Nixon resulted in no American concessions to South Vietnam's point of view on the terms for peace. The peace agreement with North Vietnam will probably be signed by Christmas, and it will have a reluctant endorsement from South Vietnam. [CBS]
- Seven people were reported to have been killed in a plane crash in South Vietnam. Two of the dead were employees of the Agency for International Development. South Vietnamese General Tran Van Phong was also killed. [CBS]
- The White House announced that President Nixon will retain George Shultz as Treasury Secretary, with vastly expanded economic powers. Shultz will be a special assistant to the President in all economic matters, domestic and international. Shultz denied that the position makes him the "Henry Kissinger of the economy." Herbert Stein will stay on as chairman of the Council of Economic Advisers, and Peter Flanigan will remain as assistant to the President for international economic issues; Shultz will oversee both.
It was also announced that U.S. Information Agency director Frank Shakespeare will leave the administration.
[CBS] - The Price Commission allowed General Motors and Ford to raise prices for their 1973 models because of the new mandated safety and pollution devices and low profit margins. Senator William Proxmire strongly denounced the price hikes. [CBS]
- Bombs in Dublin, Ireland, killed two people and injured dozens more. As a result of the bombings, Premier Jack Lynch has obtained support from former opponents of his anti-IRA bill. [CBS]
- The government of Mexico held mass marriages for Mexican couples. In Mexico City, 120,000 men married their mates with whom they've been living. Maria Echeverria, the wife of Mexico's president, began this campaign two years ago. Many Mexican peasants and workers are suspicious of government bureaucracy, and the custom is for marriages to be arranged between families without government sanction. Also, the registration fee for marriage is too expensive for many. Mrs. Echeverria and the wife of Chilean President Salvador Allende attended the mass weddings. [CBS]
- The U.S. got approval from the U.N. Finance Committee to cut its United Nations assessment by $14 million. The General Assembly must now approve the cut. [CBS]
- For most in Congress, overseas trips are common. Recently a trip began at Andrews AFB for Senators Thomas McIntyre (N.H.), Richard Schweiker (Pa.), John Tunney (California), and John Sherman Cooper (Kentucky). Their wives came too because of protocol, but this trip was supposed to be for business. The Senators landed in London to attend a briefing at the U.S. embassy and to meet with British legislators and then rest before the NATO meeting in Bonn, West Germany. The Senators' party stayed at the plush Churchill Hotel. Of the 72 hours the group spent in London, only five were occupied with official business. An anonymous member of the delegation said that this trip is only half for business; a U.S. embassy spokesman said the trip is not for business at all, but rather for Christmas shopping.
The NATO meeting in Bonn is unofficial. At least nine Senators and two Representatives skipped most of the meetings. The delegation included 31 wives and 24 staff members (including eight military escorts). There were 89 members in total for the delegation. Rep. Wayne Hays said that he would visit Rome and London on business after leaving Bonn.
[CBS] - Last month voters in California and Florida approved reinstating capital punishment after it was recently abolished by the Supreme Court. Florida Governor Askew is expected to sign the measure. [CBS]
- Commentary: Not all cities are falling apart from urban decay. In San Antonio, Texas, the San Antonio River is used by boats to carry people through the city. At night the boats serve dinner with music. The river banks are lined with trees and bistros. The river is free of pollution and crime. Detroit, Cleveland and New York all have rivers, but they're sewers, not parks. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 1023.93 (+5.72, +0.56%)
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 30, 1972 | 1018.21 | 116.67 | 19.34 |
| November 29, 1972 | 1018.81 | 116.52 | 17.38 |
| November 28, 1972 | 1019.34 | 116.47 | 19.21 |
| November 27, 1972 | 1017.76 | 116.72 | 18.91 |
| November 24, 1972 | 1025.21 | 117.27 | 15.76 |
| November 22, 1972 | 1020.54 | 116.90 | 24.51 |
| November 21, 1972 | 1013.25 | 116.21 | 22.11 |
| November 20, 1972 | 1005.04 | 115.53 | 16.68 |
| November 17, 1972 | 1005.57 | 115.49 | 20.22 |
| November 16, 1972 | 1003.69 | 115.13 | 19.58 |