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Monday December 18, 1972
. . . where the 1970s live forever!

News stories from Monday December 18, 1972

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

  • With the future of the peace talks in doubt, President Nixon today withdrew his October restrictions on bombing North Vietnam above the 20th parallel. Unrestricted bombing was renewed as well as the mining of North Vietnamese harbors. North Vietnam says that U.S. planted mines in Haiphong harbor today and followed that with severe bombing. Defense Secretary Laird confirmed that bombing is underway throughout Vietnam. Elliot Richardson accompanied Laird through the Pentagon as reporters asked questions. The Pentagon has imposed a strict news blackout regarding the renewed bombing, but U.S. pilots are now operating with the fewest restrictions ever.

    In response, Hanoi accused the U.S. of an about-face in policy and then toughened its terms for the release of American POW's. Two months ago, Hanoi promised to release the POW's within 60 days of the signing of a peace agreement. Now that has changed, as has the entire international climate. The U.S. stated that Hanoi made a basic decision last week to stall on peace; Hanoi says that the peace talks are deadlocked and the prospects for peace are being destroyed. [CBS]

  • North Vietnam suspended the technical talks which were underway in Paris regarding the Vietnam peace settlement. In Saigon, President Thieu is unhappy because President Nixon said that he will sign a peace pact when he alone feels it is right. But Thieu is pleased that the U.S. now holds North Vietnam, and not South Vietnam, responsible for the breakdown in talks. The South Vietnamese people are not surprised at the suspension of the peace talks. [CBS]
  • General John Lavelle was relieved as commander of the 7th Air Force earlier in the year for ordering "protective reaction" air strikes on North Vietnamese targets; he later retired. Today, the House Armed Services Committee stated that new Communist radar devices pose such a threat that the strikes which were ordered by Lavelle were actually proper and essential. Committee chairman Edward Hebert praised Lavelle for his actions. [CBS]
  • The astronauts of Apollo 17 held a news conference as they speed toward earth. Eugene Cernan said that what he likes most is sharing his experiences with others. Ronald Evans said that the lift-off was the most thrilling part of the Apollo 17 flight. Harrison Schmitt believes that he now has a better perspective on the history of the solar system and man's future. Splashdown will take place tomorrow afternoon. [CBS]
  • During the election campaign, the Nixon administration eased up on attacking the news media; now the tactics have changed. Clay Whitehead, the top White House official for broadcasting, reported that legislation has been drafted to make local stations responsible, under the threat of license revocation, for the content of network news and entertainment broadcasts. Whitehead stated that local stations can no longer simply accept network standards, and local broadcasters must censor national news editorials if they are irresponsible. NBC called the proposed legislation "government interference" and accused the administration of trying to drive a wedge between the networks and local stations. CBS and ABC had no immediate comment. [CBS]
  • The White House accused the Washington Post of trying to make a cause celebre of the barring of Post reporters from White House social events. As a local paper, the Post was included in press pools for such events in the past. White House press secretary Ron Ziegler says that the administration is spreading out participation to include papers from other parts of the country. However, the Washington Star-News, a local paper that is less critical of the administration than the Post, is still included in press pools. Ziegler did not explain this. [CBS]
  • The electoral college formalized the election of President Nixon. Electors traditionally must vote for their state's choice for President. But in Virginia one Nixon elector defected and voted for John Hospers, the candidate of the newly-formed Libertarian party. [CBS]
  • Some pay for staffers at McGovern headquarters was withheld during the last days of the 1972 campaign due to a money shortage. Today a former McGovern press aide announced that he and two others are filing formal complaints to get their back salaries. [CBS]
  • Doctors reported that the condition of former President Harry Truman is still very serious. [CBS]
  • The grand jury which investigated the 1971 Attica prison rebellion returned 37 sealed indictments. Today it was revealed that those who were indicted are prisoners. Prisoner Charles Pernasilice reported that he is being charged with murder. Pickets marched in support of the indicted prisoners. [CBS]
  • The Supreme Court upheld a lower court ruling that compulsory chapel attendance at U.S. service academies is unconstitutional. [CBS]
  • Pope Paul expressed his disappointment over the situation in Vietnam. [CBS]
  • Tony Boyle resigned as leader of the United Mine Workers, one month before Arnold Miller, who just won the presidency from Boyle, is due to be installed. The union's executive board chose the vice president to serve in the interim. [CBS]
  • The American eagle is a rapidly declining species. In Boise, Idaho, one man has taken up the cause of wounded eagles. Dr. Morley Nelson takes care of eagles and has done so for 35 years. When somebody finds an eagle that has been wounded by hunters, he brings the bird to Dr. Nelson. Idaho Governor Cecil Andrus is trying to get zoos to take some of the hurt eagles, because Nelson has no more room. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1013.25 (-13.99, -1.36%)
S&P Composite: 116.90 (-1.36, -1.15%)
Arms Index: 1.87

Total Volume17.54
* 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 15, 19721027.24118.2618.30
December 14, 19721025.06118.2417.93
December 13, 19721030.48118.5616.54
December 12, 19721033.19118.6617.04
December 11, 19721036.27119.1217.23
December 8, 19721033.19118.8618.03
December 7, 19721033.26118.6019.32
December 6, 19721027.54118.0118.61
December 5, 19721022.95117.5817.80
December 4, 19721025.21117.7719.73

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