News stories from Friday April 28, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Communist forces overran Dong Ha, South Vietnam and are advancing on Quang Tri city. Refugees continue to stream down Highway 1 toward Hue; fighting was reported on the highway. Near Quang Tri, Communists have dug in beside Highway 1 and are blocking passage. Regional forces fired grenades, mortars and M-16's; Communists answered with AK-47s, machine guns, and more grenades. A South Vietnamese officer urged his men forward to flush out the enemy, but the move was premature and he was wounded. South Vietnamese troops finally blew up North Vietnam's bunkers, then sifted through the dead men's belongings. Refugees, thinking the road was clear, raced down the highway. But it had been mined and a truckload of refugees was blown up.
Two South Vietnamese Fire Bases (Pedro and Anne) southwest of Quang Tri city fell to North Vietnam. American planes drilled enemy tanks, destroying 11. Two American helicopters were downed and three were damaged in the fight; two crewmen were killed. The main enemy objective is believed to be Hue. Fire Base Bastogne is also said to have been overrun.
[CBS] - Senator Edward Kennedy addressed an organized labor audience in Washington, DC and insisted that he is not a presidential candidate and Edmund Muskie's withdrawal doesn't change his mind. Kennedy has said that he wants no part of a presidential campaign; Chappaquiddick is still a question, and assassination is feared. Kennedy declared that Democrats can succeed in 1972, and he will support whoever the nominee is.
A CBS poll asked Democrat state chairmen who their preference would be in the event of a deadlocked convention; 33% favored a draft of Kennedy.
[CBS] - The Senate Finance Committee threw out President Nixon's welfare reform plan and substituted a requirement for some welfare recipients to work or lose aid. Nixon's plan included family assistance with a guaranteed income. Senator Russell Long's substitute contains a mandatory work feature for families with dependent children. The House has already passed the President's plan, and the administration is fighting to save it on the Senate floor. Welfare Secretary Elliot Richardson is leading the attack on the Senate Finance Committee's plan; Richardson says that the committee's plan would be a step backward, creating a civilian army of federal employees. [CBS]
- An unidentified senator has put a "hold" on the nomination of Richard Kleindienst as Attorney General. Senator John Tunney plans to air the ITT affair before the entire Senate. [CBS]
- The Price Commission rescinded two price increases for the American and Continental Can Companies. Cans are reportedly contributing to high food costs. [CBS]
- Chancellor Willy Brandt's budget proposals met with deadlock in the West German Parliament, and his non-aggression treaties with Russia and Poland may fail. Brandt has scheduled talks with opposition leader Rainer Barzel, perhaps regarding a new general election. [CBS]
- The Pentagon reported a medical "first". Air Force doctors in San Antonio drained the blood of a liver patient, replacing it temporarily with a saline solution, then fresh blood. The patient made a dramatic recovery. [CBS]
- Campus demonstrations against renewed U.S. bombing of North Vietnam are receiving less support than in previous years. There were counter-protests at Columbia University in New York City; at the University of Pennsylvania 200 antiwar demonstrators complied with a court injunction and ended their two-day sit-in at the administration building. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 954.17 (+8.20, +0.87%)
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* |
| April 27, 1972 | 945.97 | 107.05 | 15.74 |
| April 26, 1972 | 946.94 | 106.89 | 17.71 |
| April 25, 1972 | 946.49 | 107.12 | 17.03 |
| April 24, 1972 | 957.48 | 108.19 | 14.65 |
| April 21, 1972 | 963.80 | 108.89 | 18.20 |
| April 20, 1972 | 966.29 | 109.04 | 18.19 |
| April 19, 1972 | 964.78 | 109.20 | 19.18 |
| April 18, 1972 | 968.92 | 109.77 | 19.41 |
| April 17, 1972 | 966.59 | 109.51 | 15.39 |
| April 14, 1972 | 967.72 | 109.84 | 17.46 |