News stories from Friday December 22, 1972

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

Earlier this week General Alexander Haig, Henry Kissinger's aide, flew to Saigon with a letter from President Nixon to President Thieu threatening to cut off aid to South Vietnam unless Thieu signs the peace treaty as the U.S. wants. Haig returned with Thieu's reply.Haig and Kissinger met today with the President at Key Biscayne, Florida. White House press secretary Ron Ziegler declined comment on Haig's mission or the U.S. bombing of North Vietnam. [CBS] The U.S. reports that 16 airmen are missing and two B-52's and two fighter-bombers were shot down today. Hanoi claims that three other big bombers were downed today and five crewmen were captured. In all, the U.S. stated that 43 airmen are either missing or have been captured since Monday. North Vietnam said that Bach Mai Hospital in Hanoi has been destroyed.The U.S. will begin giving weekly rather than daily casualty reports. North Vietnam claims that some Americans were wounded when American bombs hit a POW camp in Hanoi. The Pentagon cast doubt on this, but did not deny it outright. Pentagon spokesman Jerry Friedheim says that he has no information proving North Vietnam's allegations correct. Forty-one antiwar religious leaders stated that the bombing of North Vietnam is "madness". Pope Paul says that the bombing is unjustified. Australia cabled President Nixon regarding its disapproval of the bombing. There are calls for protest demonstrations on inauguration day. [CBS] Gordon Rule, the Navy's top civilian official dealing with defense contracts, criticized the shipbuilding performance of Litton Industries at a congressional hearing three days ago. Rule stated then that it would be a mistake to choose Litton chairman Roy Ash for high administration office. The Pentagon confirmed reports that Rule's superior, Admiral Isaac Kidd, has reassigned Rule to another job. Rule says that he still feels it was a mistake for President Nixon to appoint Ash to be director of the Office of Management and Budget. [CBS] The cost of living went up 0.3% in November, mostly due to higher food prices. [CBS] Three commercial banks raised their prime lending rate to 6%. New York's First National City Bank and Mellon Bank of Pittsburgh said that the new rates would take effect on Monday. Citizens and Southern Bank of Atlanta instituted the new rate today. [CBS] Former President Harry Truman has reportedly lost consciousness and is listed in very serious condition. [CBS] Arnold Miller formally took over the presidency of the United Mine Workers today and immediately fired 24 officials who had been appointed by outgoing president Tony Boyle. Miller's entrance to UMW headquarters in Washington was like the storming of the Bastille after a quarter century of John L. Lewis and his chosen successor, Boyle; the miners celebrated. Miller stated that the UMW is now the miners' union, not the preserve of one man. He promised to spend time in the coal fields, not in the office. Under previous administrations, miners were seldom allowed into UMW headquarters. [CBS] Ten weeks ago a chartered plane disappeared in the Andes Mountains. Today two survivors showed up a in town southeast of Santiago, Chile. Fourteen others from the plane are also still alive. [CBS] Los Angeles Times reporter William Farr observed his 38th birthday behind bars. Farr was jailed for refusing to name a news source. Judge Charles Older sentenced Farr for contempt. Farr said he feels that some of the judge's remarks were unfair and uncalled for, and a good example of "intellectual cowardice". He feels that the free flow of information is in danger if reporters have to worry about turning over their sources. The New York State Trial Lawyers Association offered Farr free legal service, and offered free service to all reporters in cases similar to that of Farr. [CBS] Washington is not in a holiday mood. The gloom is similar to the Christmas after the Pearl Harbor bombing or the 1944 Christmas during the Battle of the Bulge. Congress is out of session and colleges are closed, so antiwar activity is not yet organized. The President and military are silent about the bombing of North Vietnam. The Senate opposes the bombing by a margin of 2-1, but the House of Representatives may support President Nixon. How far will the administration go if Hanoi refuses to give in? [CBS] NASA released pictures brought back by Apollo 17 astronauts Eugene Cernan and Harrison Schmitt. They also played a recording of the astronauts' voices on the discovery of orange soil on the moon. [CBS] Pop Fisher, a school crossing guard in Kent, Ohio, is 75 years old. Once he slipped on the snow while walking to his crossing. Now students shovel off the sidewalk for him early in the morning before he comes. When the National Guard killed four Kent State students a few years ago, Pop sided with the students against the Guardsmen when most of the townspeople supported the National Guard. Now Paul Kien and other Kent State students shovel Pop's four blocks of sidewalk that he patrols. Fisher said that he didn't know who was cleaning off the sidewalk because the students kept it a secret; then Paul finally confessed. Kien says that everybody, including the mayor and the university president, are on Pop's "snow squad". Pop has moral courage, which the students respect. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1004.21 (+4.21, +0.42%)
S&P Composite: 115.83 (+0.72, +0.63%)
Arms Index: 0.80

	Issues	Volume*
Advances	867	7.12
Declines	564	3.70
Unchanged	353	1.72
Total Volume		12.54

* 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
Date	DJIA	S&P	Volume*
December 21, 1972	1000.00	115.11	18.29
December 20, 1972	1004.82	115.95	18.49
December 19, 1972	1009.18	116.34	17.00
December 18, 1972	1013.25	116.90	17.54
December 15, 1972	1027.24	118.26	18.30
December 14, 1972	1025.06	118.24	17.93
December 13, 1972	1030.48	118.56	16.54
December 12, 1972	1033.19	118.66	17.04
December 11, 1972	1036.27	119.12	17.23
December 8, 1972	1033.19	118.86	18.03