News stories from Monday October 30, 1972

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

A train wreck in Chicago killed 45 people and injured 250. Two jammed commuter trains collided during the morning rush hour. Doctors and nurses from nearby Michael Reese Hospital helped the injured. One passenger said that the train was going fast, and a man ran down the aisle screaming that the train was going to crash; she stated that the impact knocked people to the floor. The first train had overshot its station and was in the process of backing up when it was hit by the second train. Transportation Secretary John Volpe is now in Chicago to direct the crash investigation.President Nixon has canceled his campaign trip to Chicago. [CBS] The White House said that it will not go along with North Vietnam's demand that the nine-point peace agreement be signed tomorrow in Paris. Saigon radio reported that North Vietnam is trying to pressure President Nixon to sign in exchange for a few votes. In Paris, Viet Cong Foreign Minister Madame Binh said that the Viet Cong has good will and she called on President Nixon to get rid of President Thieu, adding that Nixon must bear the responsibility if the war continues and negotiations are prolonged. [CBS] Fighting continued in South Vietnam; an American jet was downed over North Vietnam. Naval bombardment has been restricted and the mining of ports has ceased (as have air strikes) above the 20th parallel in North Vietnam. [CBS] President Nixon signed a bill to increase Social Security and welfare benefits, but vetoed other measures for the aged. Senator McGovern criticized the President's 16 vetoes which he made this year. Speaking in Connecticut, McGovern called Nixon "Mr. Veto", and he urged the President to sign the Vietnam peace agreement and not let South Vietnam President Thieu dictate American foreign policy. [CBS] A poll shows President Nixon leading Senator McGovern 56% to 30% in the 16 largest states. The Yankelovich survey for the New York Times and Time magazine indicates that Nixon would get 318 electoral votes in those states. A WCBS-TV poll shows the President ahead by only 9% in New York City. [CBS] White parents kept their children home from six Brooklyn schools today to protest the busing of black and Puerto Rican children into those schools. [CBS] Last June, a federal court ruled out compulsory chapel attendance at the U.S. military academies; the government asked the Supreme Court to overturn the ruling. Solicitor General Erwin Griswold noted that no cadet or midshipman is required to believe what he hears during religious services. [CBS] Israel retaliated for West Germany's release of three Arab guerrillas who were being held for their part in the Olympic massacre. Israeli jets struck guerrilla bases in Syria while students demonstrated at the West German embassy in Tel Aviv. Prime Minister Golda Meir had urged Germany not to surrender Arab prisoners to hijackers, and Foreign Minister Abba Eban complained to the West German ambassador. A spokesman for the foreign minister stated that capitulation to hijackers encourages more terrorism. [CBS] Two members of Chilean President Salvador Allende's cabinet are facing impeachment proceedings. The leaders of strikes in Chile promised to continue their protests. [CBS] Common Cause brought a lawsuit against the Republican party to force the disclosure of contributors to the party. Supreme Court Chief Justice Burger has refused to delay the case. [CBS] As Campaign '72 winds down, George McGovern is touring large states while President Nixon remains aloof in the White House except for occasional well-orchestrated rallies. This was to have been a year of clear choice. The candidates have not, however, campaigned on the issues. McGovern called on America to "come home" to its founding ideals; Vice President Agnew accused McGovern of waving the white flag of surrender and advocating isolationism. McGovern would cut defense spending; President Nixon says that peace cannot survive unless the U.S. has the power to back it. [CBS] The Postal Service is routinely criticized for its bureaucracy. Postal critic James Boren sponsored a pony express run from Philadelphia to Washington, DC, claiming that such a run is faster than modern methods of moving the mail. Boren was thrown from his horse in Philadelphia and professional riders took over. [CBS]

Stock Market Report

Dow Jones Industrial Average: 946.42 (0.00, 0.00%)
S&P Composite: 110.59 (-0.03, -0.03%)
Arms Index: 0.95

	Issues	Volume*
Advances	677	4.83
Declines	721	4.89
Unchanged	362	2.10
Total Volume		11.82

* 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*
October 27, 1972	946.42	110.62	15.47
October 26, 1972	950.56	110.99	20.79
October 25, 1972	951.38	110.72	17.43
October 24, 1972	952.51	110.81	15.24
October 23, 1972	951.31	110.35	14.19
October 20, 1972	942.81	109.24	15.74
October 19, 1972	932.12	108.05	13.85
October 18, 1972	932.34	108.19	17.29
October 17, 1972	926.48	107.50	13.41
October 16, 1972	921.66	106.77	10.94