News stories from Wednesday October 11, 1972

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

American jets accidentally bombed the French diplomatic mission in Hanoi. The legation's chief envoy was seriously wounded; some others were killed. The French government protested the action and President Pompidou called it deplorable. Phantom F-4's were said to be on a mission to bomb military targets three miles from the mission. U.S. command reported that the damage to the mission may have been caused by North Vietnamese antiaircraft missiles, but that possibility is remote. Secretary of State William Rogers expressed his regrets without conceding U.S. blame.Defense Secretary Melvin Laird stated that the target was a railroad yard three miles from the French property, but refused to state definitively that the damage was done by American bombs. Canadian television reporter Michael Maclear said that three American planes made a dozen passes over downtown Hanoi. [CBS] Henry Kissinger's fourth day of talks with North Vietnamese negotiators in Paris has been extended. [CBS] Fighting for control of hamlets near Saigon continues. North Vietnamese artillery pounded the hamlet of Xom Suoi; American planes dropped bombs. South Vietnamese troops waited for the U.S. planes to soften enemy positions. [CBS] George McGovern outlined his Vietnam peace policy in a televised speech. He would end the bombing and halt aid to South Vietnam upon his inauguration; he would withdraw all American men and equipment within 90 days. Defense Secretary Laird called McGovern's plan "unconditional surrender." Teamsters union president Frank Fitzsimmons said that the speech undermines peace negotiations.McGovern attended a unity lunch with Mayor Richard Daley and 1,200 of his precinct captains in Chicago. Cook County states attorney Ed Hanrahan (who is on trial for his role in the 1970 Black Panther raid) advised McGovern not to worry about polls or newspapers; Mayor Daley praised McGovern, who sported a button with "ROW A", indicating a straight Democratic ticket vote. [CBS] President Nixon will confer in Atlanta with leaders of his re-election campaign. Vice President Spiro Agnew visited Alabama Governor George Wallace in Montgomery. Agnew said the visit was social; Wallace stated that he might change his mind about not endorsing a presidential candidate this year. [CBS] Republican campaign leaders Clark MacGregor, John Mitchell and Maurice Stans turned down House Banking Committee chairman Wright Patman's request that they testify regarding the Watergate case. Presidential counsel John Dean has not yet responded to the request. [CBS] Prisoners in the Washington, DC jail took over a cell block and seized hostages, including Department of Corrections chief Kenneth Hardy. Rep. Shirley Chisholm and Washington, DC delegate Walter Fauntroy attempted negotiations with the inmates. The juvenile prisoners complained of bad food, poor medical treatment and the brutality of the guards. Chisholm reported that the prisoners said they are prepared to die. The prisoners were later taken to district court to air their grievances. [CBS] Four young hemophiliacs filed suit in New York City to require the government to pay for their expensive treatments. Michael Druck, age 11, is a hemophiliac, or "bleeder." Clotting factor is missing from his blood. Druck said that if his parents could afford the treatment, he could lead a normal life. Druck's mother said that it's unfair not to be able to get the aid her son needs. Attorney Howard Goldfluss stated that people shouldn't be allowed to die just because they can't afford treatments. [CBS] A second attempt to cut off a liberal filibuster against the anti-busing bill failed. [CBS] The Senate Finance Committee is considering a House-passed bill to put a ceiling on congressional appropriations. [CBS] Massachusetts was the first state with a no-fault auto insurance law. Massachusetts Governor Francis Sargent today announced that the law has resulted in saving drivers $59 million. [CBS] Clawed frogs are getting a frosty reception in the western United States. Clawed frogs eat nearly everything -- fish, crayfish, other frogs. Scientists worry that they will upset the aquatic balance of nature. San Diego museum scientist Clark Mahrdt assures that the frogs cannot eat cats or small children. The clawed frogs came from South Africa; they were brought to America in the 1950's for use in pregnancy tests, but flunked. [CBS] Henry Kissinger's talks with the North Vietnamese negotiators in Paris have ended; Kissinger is returning to Washington. [CBS]

Stock Market Report

Dow Jones Industrial Average: 946.42 (-5.42, -0.57%)
S&P Composite: 109.50 (-0.49, -0.45%)
Arms Index: 1.56

	Issues	Volume*
Advances	526	2.96
Declines	855	7.50
Unchanged	347	1.44
Total Volume		11.90

* 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 10, 1972	951.84	109.99	13.31
October 9, 1972	948.75	109.90	7.94
October 6, 1972	945.36	109.62	16.63
October 5, 1972	941.30	108.89	17.73
October 4, 1972	951.31	110.09	16.64
October 3, 1972	954.47	110.30	13.09
October 2, 1972	953.27	110.16	12.44
September 29, 1972	953.27	110.55	16.25
September 28, 1972	955.15	110.35	14.71
September 27, 1972	947.25	109.66	14.62