News stories from Tuesday November 21, 1972

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

Israel and Syria clashed along the Golan Heights cease-fire line in heavy combat today. There are conflicting reports of losses. Israeli Defense Minister Moshe Dayan went to the border to observe the situation. [CBS] Henry Kissinger had a second day of Vietnam peace talks in Gif-Sur-Yvette, France, near Paris. Kissinger and North Vietnamese negotiators Le Duc Tho, Xuan Thuy and others met. The U.S. must overcome South Vietnam's objections to the draft agreement reached with North Vietnam in October. Kissinger will fly to Brussels, Belgium, to meet Indonesian President Suharto tomorrow morning, then will return to France for talks tomorrow evening. Indonesia may help supervise the cease-fire.It now appears unlikely that 5,000 troops from four countries can be sent to Vietnam before the cease-fire goes into effect. North Vietnam feels that Indonesia is pro-American, and Canada is having second thoughts about taking part. Prime Minister Trudeau is weaker after the recent Canadian elections and is now cautious about sending troops. Hungary and Poland will proceed, reluctantly, only after a cease-fire is arranged. [CBS] Five of the defendants in the "Chicago 7" conspiracy trial who were convicted of crossing state lines to incite a riot at the 1968 Democratic national convention were freed today. An appellate court ruled 2 to 1 that Judge Julius Hoffman violated the defendants' rights to a fair trial because of his antagonistic attitude. Defense attorney William Kunstler stated that this decision shows that the government can and does use the courts as a political weapon against dissenters. Defendant David Dellinger is glad that his conviction was reversed, but unhappy that the Vietnam war continues. Defendant Rennie Davis is also glad about the reversal, but sympathetic to Father Daniel Berrigan and others who are still jailed for their opposition to the war, both in the U.S. and South Vietnam. [CBS] Because of the abolition of the death penalty, Richard Speck, who killed eight student nurses, has been re-sentenced. Speck returned to the Peoria, Illinois, court where he was sentenced to death in 1967. Judge Richard Fitzgerald gave Speck a sentence of life imprisonment. [CBS] The cost of living rose 0.3% in October, making a 3.5% rise since wage-price controls began 11 months ago. October's rise was mainly due to clothing, used cars, health care and property taxes. The result was a decrease in purchasing power of 0.3%. [CBS] Bethlehem Steel announced a price increase of 2.7%; U.S. Steel recently raised its prices. [CBS] Deputy Defense Secretary Kenneth Rush might succeed Melvin Laird as Secretary of Defense. Governor Nelson Rockefeller of New York visited President Nixon, but is not expected to get a cabinet post. [CBS] In Sacramento, California, a state Senate committee is investigating the safety of the new BART (Bay Area Rapid Transit) rail system. An analyst's report concluded that BART's computerized control system is unsafe because it can't tell if another train is stopped on the tracks ahead. Officials at stations check for track clearness and telephone their reports. There have been several minor accidents and one major one in which cars derailed. BART's general manager promised safe service by September, and he is concerned about public confidence. He said that the public is being misled and that BART is safe. [CBS] South Korean voters approved a new constitution which increases the powers of President Park Chung Hee. It allows a president to succeed himself indefinitely, institutes sweeping reforms, and permits the reopening of reunification talks with North Korea. [CBS] Recently-returned former dictator Juan Peron met with the major political parties in Argentina in order to promote the country's unity. The armed forces want Peron to retire, but he may not. [CBS] Thousands of Asian Indians who were expelled recently from Africa are facing serious problems of readjustment, especially those who went to Germany. Nine Indians (who hold British passports) have been living in the Frankfurt airport for three months because England doesn't want them. They come from Kenya, Tanzania and Uganda, where Asians are no longer welcome; India doesn't want them either. A Frankfurt airport lawyer said that the nine Indians must "return" to India, but they are not citizens of India. [CBS]

Stock Market Report

Dow Jones Industrial Average: 1013.25 (+8.21, +0.82%)
S&P Composite: 116.21 (+0.68, +0.59%)
Arms Index: 0.74

	Issues	Volume*
Advances	897	13.15
Declines	581	6.31
Unchanged	340	2.65
Total Volume		22.11

* 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*
November 20, 1972	1005.04	115.53	16.68
November 17, 1972	1005.57	115.49	20.22
November 16, 1972	1003.69	115.13	19.58
November 15, 1972	998.42	114.50	23.27
November 14, 1972	1003.16	114.95	20.20
November 13, 1972	997.07	113.90	17.21
November 10, 1972	995.26	113.73	24.36
November 9, 1972	988.26	113.50	17.04
November 8, 1972	983.74	113.35	24.62
November 6, 1972	984.80	113.98	21.33