News stories from Friday March 24, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Britain suspended home rule in Northern Ireland. Prime Minister Edward Heath claimed that the move was a necessary step for peace. Protestant leaders predict civil war; 4,000 more British troops are on alert. Heath guaranteed Northern Ireland a place in the United Kingdom if the majority desires it and if all elements of society have a voice. Heath's program includes a vote on the border issue, a vote on U.K. membership, a phase-out of internment and the release of IRA suspects. Heath stated that Northern Ireland will now be run by a commission which will include Catholics.
Outgoing Northern Ireland Prime Minister Brian Faulkner sees the action as a victory for the IRA, and he denounced the move. Prime Minister Jack Lynch of Ireland is more optimistic; Lynch hopes for peace and the ultimate re-unification of Ireland. Protestant shipyard workers left their jobs in protest, and a two-day general strike has been called. In Dublin, the IRA rejected Heath's peace initiative and demanded the total withdrawal of the British.
[CBS] - President Nixon held his first press conference in six weeks; it was an impromptu session with no cameras present. The President refused comment on the ITT case. [CBS]
- Treasury Secretary John Connally stated that the government will control food prices if they do not go down. The Senate killed a bill requiring the slaughter of chickens in order to bolster egg prices. [CBS]
- Some banks lifted their prime rate to 5%. [CBS]
- The FBI reported that it can't prove Dita Beard's memo is fraudulent; FBI director J. Edgar Hoover told Senator James Eastland that the memo may be genuine. Senator Adlai Stevenson called for President Nixon to withdraw Richard Kliendienst's nomination for Attorney General.
The Scripps-Howard news service reported ITT's acquisition of 16 more companies. Avis, the Sheraton hotel chain and several restaurants are owned by ITT, as well as the new Royal Biscayne hotel. Total sales exceed $7 billion; 398,000 persons are employed by the company. The Senate Foreign Relations Committee will investigate the influence of multinational companies on politics in foreign countries, focusing on ITT's activities in Chile.
[CBS] - The Senate is holding hearings on President Nixon's anti-busing plan; the reopening of 100 cases is foreseen. [CBS]
- A federal court struck down a Louisiana law forbidding the adoption of children across racial lines. [CBS]
- A bill lowering the minimum age for serving on federal juries to 18 was sent to the President for his signature. [CBS]
- The Senate passed a bill to continue Radio Free Europe and Radio Liberty for three months. Their futures are in doubt after that time. [CBS]
- In a surprise move at the trial of the "Harrisburg 7", the defense presented no case. Defense attorney Ramsey Clark announced the decision of the defendants not to offer any argument to the charges. Judge R. Dixon Herman denied two dismissal notions. Three of the defendants favored offering a defense; the other 4 voted against it. [CBS]
- Senator John Pastore's subcommittee on television violence advocates a government TV-violence index, under the direction of the Health, Education & Welfare Department, with annual reports to Congress. [CBS]
- Three policemen in Detroit were charged with assault with intent to kill following a raid on a card game earlier this month in which one sheriff's deputy was killed and three were wounded; beatings took place during the raid. [CBS]
- The Environmental Protection Agency restricted pesticides and other products containing mercury, and banned the interstate shipment of such products. [CBS]
- A freight train hit a school bus at a crossing in Congers, New York; three people were killed, 40 injured. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 942.28 (-2.41, -0.26%)
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* |
| March 23, 1972 | 944.69 | 107.75 | 18.38 |
| March 22, 1972 | 933.93 | 106.84 | 15.40 |
| March 21, 1972 | 934.00 | 106.69 | 18.61 |
| March 20, 1972 | 941.15 | 107.59 | 16.42 |
| March 17, 1972 | 942.88 | 107.92 | 16.04 |
| March 16, 1972 | 936.71 | 107.50 | 16.70 |
| March 15, 1972 | 937.31 | 107.75 | 19.46 |
| March 14, 1972 | 934.00 | 107.61 | 22.37 |
| March 13, 1972 | 928.66 | 107.33 | 16.73 |
| March 10, 1972 | 939.87 | 108.37 | 19.69 |