News stories from Monday May 22, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon completed the first day of his visit to the Soviet Union. President Podgorny and Premier Kosygin met Nixon's party at the Moscow airport, where the reception was correct and cordial, but subdued. Soviet Communist party chairman Leonid Brezhnev met with Nixon at the Kremlin for two hours; Vietnam may have been discussed.
Podgorny hosted a state dinner and raised a toast to improving Soviet-American relations in order to prevent greater tension in the world. President Nixon indirectly chided Russia for helping North Vietnam, stressing in a toast that the great powers have great responsibilities and so must exercise restraint. Topics of summit will be: strategic arms, trade, space cooperation, medicine and the environment.
A military parade was held at the airport, and a small crowd was on hand. The President's motorcade to Moscow's city center traveled fast, perhaps to keep Nixon and reporters from seeing the crowds in detail. President Nixon is said to be pleased with the progress of his visit so far. Both sides seem to be willing to overlook the Vietnam situation and are hoping for a new era of friendly cooperation between the world's two most powerful nations.
[CBS] - U.S. bombers struck near Hanoi and Haiphong in North Vietnam. The U.S. said that all targets were military; North Vietnam claims that populous areas were hit. [CBS]
- Near Hue, Communist forces that were probing South Vietnamese defenses were repelled by heavy American air power. North Vietnamese troops were forcing the South Vietnamese back as the air strikes were called in. At Trung Thanh, South Vietnam, refugees have left the area south of the river; South Vietnamese rangers advanced and make contact with North Vietnamese forces. The attack on Hue may be beginning. [CBS]
- Antiwar protesters tried unsuccessfully to blockade the Pentagon. The crowd was peaceful until the demonstration permit expired, at which time several protesters tried to cross police lines. Tear gas was used to disperse the crowd. Fewer than 1,000 demonstrated; 240 were arrested. [CBS]
- Mrs. Philip Hart, the wife of the Michigan senator, is refusing to pay her income tax because of the Vietnam war. She reportedly made the decision when President Nixon announced the mining of North Vietnam's harbors. [CBS]
- The Supreme Court ruled that the constitution does not require a unanimous jury to convict a defendant in a non-capital criminal trial. The Oregon and Louisiana laws were upheld by the Nixon appointees and Justice Byron White. Justice William O. Douglas dissented with the move as paring down civil rights. [CBS]
- George McGovern retained his lead as delegates were chosen in six states: Hawaii, Iowa, Louisiana, Maine, Vermont and Washington. George Wallace is second in delegates, Hubert Humphrey third. McGovern now seeks Oregon's convention votes.
Henry Jackson's headquarters in Oregon has closed, and Humphrey is ignoring the state to focus on California. McGovern's campaign organization is running well in Oregon. Rep. Patsy Mink of Hawaii is also on the Oregon presidential primary ballot, as is Senator Edward Kennedy (because he couldn't get off); Wallace has run only a modest media campaign in Oregon. McGovern is the projected winner.
[CBS] - Environmental Protection Agency director William Ruckelshaus announced that the sale of 1973 Ford cars may be prohibited, causing plant shutdowns and layoffs. Ford's pollution tests on its 1973 engines have been invalidated; Ruckelshaus says that mass production should be delayed until new tests are run. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 965.31 (+3.77, +0.39%)
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* |
| May 19, 1972 | 961.54 | 108.98 | 19.58 |
| May 18, 1972 | 951.23 | 107.94 | 17.37 |
| May 17, 1972 | 941.15 | 106.89 | 13.60 |
| May 16, 1972 | 939.27 | 106.66 | 14.07 |
| May 15, 1972 | 942.20 | 106.86 | 13.60 |
| May 12, 1972 | 941.83 | 106.28 | 13.99 |
| May 11, 1972 | 934.83 | 105.77 | 12.90 |
| May 10, 1972 | 931.07 | 105.42 | 13.87 |
| May 9, 1972 | 925.12 | 104.74 | 19.91 |
| May 8, 1972 | 937.84 | 106.14 | 11.25 |