News stories from Friday July 14, 1972

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

The Democratic national convention has ended, and George McGovern & his running mate Thomas Eagleton are beginning their efforts to unify the party. Convention chairman Lawrence O'Brien resigned, and McGovern replaced O'Brien with Jean Westwood, a Utah delegate who labored to restore the California delegation for McGovern. Westwood says that she is proud to accept the post in light of party reforms.Pierre Salinger, McGovern's choice as convention vice chairman, ran into trouble from delegates who resented McGovern's hand-picking. Delegates on the convention floor nominated Basil Patterson, a New York attorney who was suggested by Charles Evers of Mississippi. Salinger took McGovern off the hook and withdrew his name from consideration. [CBS] Campaign manager Gary Hart says that George McGovern's campaign for president will be "more of the same". [CBS] George McGovern appealed for party unity in his acceptance speech, and vice-presidential nominee Thomas Eagleton called on the party to work for Democrats at every level, so that in years hence historians can say that 1972 was the year America found its conscience. Senator Edward Kennedy described a new wind sweeping across the nation whose leader is George McGovern. Senators Humphrey, Muskie and Jackson joined McGovern on the podium followed by Rep. Chisholm and former North Carolina Governor Sanford. McGovern pledged to end the Vietnam war if he is elected. [CBS] George Wallace, after expressing thanks for the kind words about him in McGovern's acceptance speech, left for Alabama in a military hospital plane. Although defeated, Wallace said that he accomplished quite a bit. The American Independent Party announced that Wallace may accept its nomination. [CBS] As part of Democrat party reform, women played a larger role at the national convention. Liz Carpenter of the National Women's Caucus lauded George McGovern's reforms for making an abundance of female delegates possible; McGovern said that credit for the presence of women goes to Adam and Eve. Rep. Bella Abzug vowed that by 1976 women will be in many places of the power structure.Controversial issues like abortion failed to receive McGovern support, however, fearing that Catholics would desert such a platform. Alaska delegate Jennifer Wilke claimed that a majority of Americans support abortion, but the fear of pressure groups causes its lack of acceptance. New York delegate Gloria Steinem said that women were somewhat disillusioned with the convention, because when a women's cause was thought to be dangerous, it was abandoned. But she said that she will campaign for McGovern. [CBS] Former Treasury Secretary John Connally announced that he will not support the 1972 Democratic presidential ticket, and he criticized George McGovern's comments on Vietnam. Connally, a Texas Democrat, is closely aligned with the Nixon administration. Connally and President Nixon conferred at the Western White House. Connally said that he is more in accord with the President's views than with McGovern's, and he stated that McGovern is hampering the efforts toward a negotiated settlement of the Vietnam war that are currently being made by the administration. [CBS] A South Vietnamese unit fought its way clear near Quang Tri with the aid of heavy U.S. air strikes; government troops have moved closer to the occupied city. A South Vietnamese commander was killed in a helicopter crash; 30 South Vietnamese paratroopers tried to board a U.S. rescue helicopter and it crashed; another helicopter was fired on.The development of a new laser-guided bomb was disclosed. Navy pilots call it "Fat Albert". [CBS] In Belfast, Northern Ireland, British soldiers fought guerrillas who were armed with bazooka-type weapons. Three soldiers and three civilians were killed. Bombings were reported In London. The British Defense Secretary warned that Northern Ireland is on the brink of disaster. In Dublin, Ireland, Prime Minister Jack Lynch toughened his stance against the IRA. [CBS] A grand jury in Tallahassee, Florida indicted six members of the Vietnam Veterans Against the War, accusing them of conspiring to cause riots at the Republican national convention next month. Democrats accused the Nixon administration of trying to intimidate the group.In Miami Beach, the "Yippies", antiwar veterans, gay activists, poor blacks and others are going home, leaving Flamingo Park now that the Democratic national convention is over. It was a quiet time of demonstration, but the Republican convention will be different. Many more protesters are reportedly coming to Miami Beach to protest President Nixon. [CBS]

Stock Market Report

Dow Jones Industrial Average: 922.26 (+5.27, +0.57%)
S&P Composite: 106.80 (+0.52, +0.49%)
Arms Index: 0.90

	Issues	Volume*
Advances	753	7.05
Declines	626	5.30
Unchanged	362	1.56
Total Volume		13.91

* 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*
July 13, 1972	916.99	106.28	14.74
July 12, 1972	923.69	106.89	16.15
July 11, 1972	925.87	107.32	12.83
July 10, 1972	932.27	108.11	11.70
July 7, 1972	938.06	108.69	12.90
July 6, 1972	942.13	109.04	19.52
July 5, 1972	933.47	108.10	14.71
July 3, 1972	928.66	107.49	8.14
June 30, 1972	929.03	107.14	12.86
June 29, 1972	926.25	106.82	14.61