News stories from Friday January 21, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The cost of living was up 0.4% in December, but the consumer price index for 1971 was up only 3.4% for the year. The gross national product up was 2.7% in 1971 and increased at a 6.1% rate during the last three months. [CBS]
- The White House estimated that there has been a $1.5 billion loss of trade due to the west coast dock strike; President Nixon asked Congress again for legislation to end the strike. Labor Undersecretary Laurence Silberman criticized Congress for not acting on no-strike legislation. Union members consider legislation to be unfair, and Longshoremen's union president Harry Bridges has vowed that legislation will not settle the strike. [CBS]
- The hijacker who bailed out of a plane with $50,000 ransom was caught and arraigned in Denver. Two highway patrolmen found Richard LaPoint, a former Army paratrooper, in a Colorado pasture with sprained ankles and wrists. Two F-111 fighter planes tailed the hijacked plane and saw LaPoint jump. His parachutes had been wired with radio transmitters to help track him. [CBS]
- At the U.S. Air Force Academy in Colorado. 20 cadets have resigned and 55 are under investigation for cheating. Only three cadets actually cheated, but the others failed to report it as required by their code of honor. [CBS]
- A draft lottery was announced for February 2, to select the order for calling men who were born in 1953. [CBS]
- The fight for Long Cheng, Laos, continued; American B-52s bombarded North Vietnamese in the South Vietnamese midlands; a U.S. helicopter was shot down southwest of Hue. [CBS]
- Two architects who are accused of designing the gas chambers and ovens which were used by the Third Reich to kill Jews in World War II are standing trial in Vienna. Walter Diako, now 63 years old, was assigned to design a concentration camp in Poland; Fritz Oertel, now 71, is charged as an accomplice. Several survivors of the camps are attending the trials. [CBS]
- Thirteen people were killed in riots in Rhodesia. Blacks are protesting a British agreement to extend white rule. Rhodesian Prime Minister Ian Smith stated that the riots prove blacks are uncivilized and lack maturity. [CBS]
- A Colombian airliner crashed, killing 34. [CBS]
- Democratic presidential contenders are on the campaign trail. In Philadelphia, Edmund Muskie was endorsed by Senator Harold Hughes, the AFL-CIO and others. He is the front-runner so far. In Washington, DC, Hubert Humphrey is campaigning as an anti-establishment rebel, and an alternative to Senator Muskie.
In Daytona Beach, Florida, George McGovern said that he aims at capturing each vote one by one and is directing his efforts towards blacks, the poor, and the young. In Key West, Henry Jackson campaigned against school busing and in favor of defense spending. John Lindsay attacked Alabama Governor George Wallace in a Florida speech.
[CBS] - Eleven congressional Democrats replied to President Nixon's State of the Union address. House Speaker Carl Albert called on the President to cooperate with Congress. [CBS]
- National Republican chairman Senator Robert Dole blamed Democrats for getting America into the Vietnam War. Dole noted that all of the Democratic presidential candidates now in Congress previously backed U.S. involvement in Vietnam. [CBS]
- The Senate Foreign Relations Committee's hearings on China have been timed to take place two weeks before the President's trip to Peking. [CBS]
- Mrs. Catherine McGrath, a government lawyer, accused Congress of encouraging sin and divorce by discouraging marriage in its 1971 tax rate schedules. [CBS]
- The FBI reported smashing an auto theft ring in New York. [CBS]
- A federal judge approved U.S. Navy maneuvers at Reid State Park in Maine, despite protests by environmentalists. [CBS]
- A presidential committee reported that mental retardation could be prevented by a program of health care and better living conditions for the poor. Health, Education and Welfare Secretary Elliot Richardson, the committee chairman, said that there are 6 million mentally retarded persons in America. [CBS]
- A presidential commission reported that 24 million people in America have smoked marijuana. In the 18-25 age group, two out of five have tried it. [CBS]
- The National Center for Disease Control announced that the flu epidemic is spreading. [CBS]
- Florida prison officials will resume accepting new prisoners on January 31. They will make room by releasing several hundred convicts early. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 907.44 (-2.86, -0.31%)
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* |
| January 20, 1972 | 910.30 | 103.88 | 20.21 |
| January 19, 1972 | 914.96 | 103.88 | 18.80 |
| January 18, 1972 | 917.22 | 104.05 | 21.07 |
| January 17, 1972 | 911.12 | 103.70 | 15.86 |
| January 14, 1972 | 906.68 | 103.39 | 14.96 |
| January 13, 1972 | 905.18 | 102.99 | 16.41 |
| January 12, 1972 | 910.82 | 103.59 | 20.97 |
| January 11, 1972 | 912.10 | 103.65 | 17.97 |
| January 10, 1972 | 907.96 | 103.32 | 15.32 |
| January 7, 1972 | 910.37 | 103.47 | 17.14 |