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Monday December 4, 1972
. . . where the 1970s live forever!

News stories from Monday December 4, 1972

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

  • Henry Kissinger participated in more Vietnam peace talks in Paris today. General Haig and Assistant Secretary of State Sullivan were also members of the U.S. delegation. North Vietnam's Le Duc Tho and Xuan Thuy talked with Kissinger and Haig. The afternoon session was held at an estate that used to belong to Capt. Peter Townsend, the man Princess Margaret almost married. The South Vietnamese ambassador to the talks said he was told that the talks are in the final stages. [CBS]
  • A Washington, DC federal judge began hearing pre-trial motions in the Watergate case as defense attorneys tried to minimize publicity. Judge John Sirica denied motions by the defense to hold the conference in secret and to restrict press coverage of the trial. Sirica will call on the Los Angeles Times for its unpublished parts of an interview with Alfred Baldwin, who monitored the wiretaps and who will be a chief government witness; the Times will resist. The prosecutor stated that he will trace the $114,000 in Nixon campaign funds that went into the bank account of defendant Bernard Barker. [CBS]
  • Democrat governors have called for the resignation of party chairman Jean Westwood. Republican governors met today, and the mood was different; they celebrated at the resort town of Scottsdale, Arizona. Those attending included 33-year-old Governor Kit Bond of Missouri and Vice President Spiro Agnew. Michigan Governor William Milliken, chairman of the conference, suggested a meeting between the governors and President Nixon and his cabinet to discuss matters such as welfare. Republican national chairman Robert Dole stated that the 1974 elections will tell whether Republicans are on the way to becoming a majority in America. [CBS]
  • Defense Secretary Laird announced that the 1974 defense budget will be $80 billion. [CBS]
  • President Nixon named Donald Rumsfeld as the U.S. representative to NATO. Rumsfeld had been the director of the Cost of Living Council, and he might oppose incumbent Democrat Adlai Stevenson III for the Senate seat in Illinois in 1974. [CBS]
  • Apollo 17 is ready for a Wednesday lift-off (the first ever at night) after a threatened strike by some ground personnel was averted. Astronauts Eugene Cernan and Jack Schmitt will land on the moon while Ronald Evans remains in orbit. The spaceship will land at Taurus Littrow on the moon, where it will stay for 75 hours.

    Lunar samples from previous missions have raised many scientific questions. NASA scientist Dr. Noel Hinners says that evidence suggests the moon did not fissure from earth. The site for Apollo 17's landing was dictated by new knowledge gained from other flights. The astronauts will hunt for water and recover rocks. Most moon questions still remain unanswered. Data produced by the expedition of the "Beagle" took 20 years to lead Darwin to the theory of evolution; Einstein's theory of relativity came long after Newton's studies. The mass of Apollo data may be awaiting its genius. [CBS]

  • At the United Nations, Chile's Marxist President Salvador Allende accused American companies of interfering with the political and economic life of Chile. The El Teniente copper mine, once owned by Kennecott Copper, was expropriated by Chile. America retaliated with economic blockades and refusal of loans. Allende claims that International Telephone and Telegraph is trying to foment civil war in Chile. U.S. Ambassador to the U.N. George Bush denied Allende's charges; Kennecott and ITT also denied the charges. [CBS]
  • Honduran President Ramon Cruz's government fell in a military coup staged by General Oswaldo Lopez. No violence was reported. [CBS]
  • A House subcommittee began hearings on the Indian takeover of the Bureau of Indian Affairs building last month. Secretary of the Interior Rogers Morton stated that the decision to negotiate for the Indians' departure from the building rather than call in the police was made with White House approval. [CBS]
  • Lt. William Calley's life sentence for his part in the My Lai massacre has already been reduced to 20 years and he is seeking a further reduction. A military board in Virginia is reviewing Calley's case. Calley is not present at the hearing but his lawyer, George Latimer, said that ranking officers ensured Calley's conviction in order to save the Army's good name. General William Westmoreland was accused of prejudicing the case by his personal investigation. Latimer said that Calley was singled out for a crime which was committed by many. President Nixon will make the final decision in the case. [CBS]
  • The Supreme Court will hear a Connecticut case involving the right of state colleges to charge extra tuition for out-of-state students. [CBS]
  • Pennsylvania Governor Milton Shapp signed a measure providing free treatment for hemophiliacs. On hand was hemophiliac Kevin Marshall, whose parents helped pressure the state. [CBS]
  • Retailers predict high Christmas sales, but much merchandise is not being paid for -- 45% of all shoplifting takes place during the Christmas season. America has been made into a consumer society by high pressure advertisements, and these tempt people to want more than they can afford to buy. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1025.21 (+1.28, +0.13%)
S&P Composite: 117.77 (+0.39, +0.33%)
Arms Index: 0.88

Total Volume19.73
* 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
December 1, 19721023.93117.3822.57
November 30, 19721018.21116.6719.34
November 29, 19721018.81116.5217.38
November 28, 19721019.34116.4719.21
November 27, 19721017.76116.7218.91
November 24, 19721025.21117.2715.76
November 22, 19721020.54116.9024.51
November 21, 19721013.25116.2122.11
November 20, 19721005.04115.5316.68
November 17, 19721005.57115.4920.22

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