News stories from Friday June 9, 1972

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

George McGovern has not yet received the widely-expected endorsement of Senator Edmund Muskie. However, intensive secret negotiations are underway between the Humphrey and McGovern camps, which may yield a Humphrey endorsement of McGovern. Humphrey denies any intention of withdrawing from the presidential race, but he has fired half of his campaign staff for financial reasons, including his press secretary.Muskie believes that his withdrawal and endorsement of McGovern would not necessarily assure party unity; at 6:00 a.m. he phoned aides George Mitchell and Burt Bernhard and told them of his decision to remain in the race for the Democratic presidential nomination. Muskie says that he cannot accept McGovern's views on welfare, taxes and defense cutbacks, and he hopes that the pressure of the convention will force McGovern to modify those positions. McGovern, campaigning in New York City, was disappointed by Muskie's announcement but said that he can't argue with Muskie's decision to leave the nomination up to the convention delegates, as he advocates an open convention and party reforms. Humphrey was pleased with Muskie's statement, and said that the nomination will be decided by the delegates; no candidate yet has enough delegates to be nominated. [CBS] Senator John Tunney, an early Muskie backer, has now jumped on the McGovern bandwagon because he is convinced that McGovern will win the nomination on the first ballot. A telephoned bomb threat caused McGovern's chartered plane to land at Pittsburgh on a flight out of New York; no bomb was found but an NBC staffer was hurt during evacuation from the plane via chutes. [CBS] George Wallace's doctor said that the governor is doing beautifully and will be able to attend the Democratic national convention in Miami Beach next month. Ethel Kennedy visited Wallace in his Silver Spring, Maryland, hospital room and said that she admires his courage and determination. [CBS] John Paul Vann, the senior civilian U.S. adviser in the Central Highlands of South Vietnam, died today in a helicopter crash. Vann retired from Army as a lieutenant colonel, but stayed in Vietnam as expert on pacification; He was an outspoken critic of the way the war was being run. [CBS] Concentrated bombing of North Vietnam was again launched by American planes. Military targets in Haiphong, Hanoi, areas near the Chinese border and the southern panhandle were hit. [CBS] Government forces pushed into North Vietnam-held Quang Tri province, recaptured Dap Da and broke through to An Loc. Highway 1 is still not secure, but North Vietnamese pressure is easing. At Trang Bang, ARVN planes accidentally dropped napalm on fleeing civilians. Many survived, despite severe burns. [CBS] The Pentagon is sending 40 more B-52s to the Vietnam war zone, bringing the total there to almost 200. [CBS] The International Air Line Pilots Association urged West Germany to return 11 hijackers to Czechoslovakia for sentencing; a pilot was killed during the hijacking. The Czechs have asked for political asylum in West Germany, but are currently being held there on air piracy charges. [CBS] The U.S. State Department will launch a campaign against air hijacking, and is considering international action to boycott flights to and from countries which harbor hijackers. Civil Aeronautics Board chairman Secor Browne says that the responsibility for a federal anti-hijacking program is dispersed among too many authorities, and he urged the establishment of a single federal force. [CBS] Japan established a $1.5 million fund for the victims of the Tel Aviv airport massacre in Israel. The three Japanese terrorists who were responsible were hired by a Palestinian guerrilla organization. [CBS] In Stockholm, the Chinese delegation to the United Nations Conference on the Human Environment challenged the deletion of the Vietnam war from proposals regarding the environment. A Libyan delegate said that the conference cannot ignore the destruction of the environment in southeast Asia by biological warfare. A Chinese delegate insisted that the conference report will include a condemnation of American "ecocide" in Vietnam. Russell Train, head of the American delegation, said that the declaration is far from perfect, but if the conference pursues perfection it may end up with no declaration at all. Conference observer Bettina Cardin said that the U.S. is acting hypocritically by expressing concern for the environment while continuing "environmental trauma" in Vietnam. The issue of pollution was thought to be one that the United Nations could act on in harmony, but the conference has taken a political turn. [CBS] An administration official said that if Congress passes President Nixon's welfare reform, a nationwide program will be set up to prosecute welfare cheaters. [CBS] President Nixon still does not believe that the anti-busing legislation passed by Congress will be effective, but will probably sign it. [CBS] The issue of busing was faced some time ago in Great Britain. Busing has been successful in England for seven years, integrating the school children of minorities such as Indians and Pakistanis. Minority students near London are picked up early in the Asian neighborhood of Southall, and bused into the English area. English children are not bused. But James Barzey of the Afro-Caribbean Association says that busing is bad because children are being made foreigners in their own environment, and the friends they make in school live too far away to play with. [CBS] The price of gold dropped on European money markets after four days of record increases. [CBS] Despite Japanese opposition, a United Nations Environmental Conference committee voted to recommend a 10-year moratorium on commercial whale hunting. [CBS]

Stock Market Report

Dow Jones Industrial Average: 934.45 (-6.85, -0.73%)
S&P Composite: 106.86 (-0.42, -0.39%)
Arms Index: 1.15

	Issues	Volume*
Advances	462	3.51
Declines	883	7.70
Unchanged	375	1.58
Total Volume		12.79

* 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*
June 8, 1972	941.30	107.28	13.82
June 7, 1972	944.08	107.65	0.00
June 6, 1972	951.46	108.21	15.98
June 5, 1972	954.39	108.82	13.45
June 2, 1972	961.39	109.73	15.40
June 1, 1972	960.72	109.69	14.91
May 31, 1972	960.72	109.53	15.23
May 30, 1972	971.18	110.35	15.81
May 26, 1972	971.25	110.66	15.73
May 25, 1972	969.07	110.46	16.48