News stories from Monday October 2, 1972

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

George McGovern spoke to a conference of newspaper editors and publishers, and called President Nixon a man of no constant principle except opportunism and political manipulation. McGovern accused the Nixon administration of being full of corruption, using as examples the Vietnam war, the Justice Department-ITT affair, assaults on freedom of the press, and tax loopholes. McGovern will campaign in northeastern industrial centers and in St. Louis this week.Vice President Spiro Agnew responded to McGovern's charges at that same conference, stating that the senator's charge reflects a lack of maturity and self-discipline, qualities which a president should have; Agnew defended the Nixon administration's record. [CBS] AFL-CIO president George Meany's efforts to force the Colorado Labor Council (which endorsed McGovern) to take a neutral position in the presidential election failed in court. A judge issued a preliminary injunction against any action by the AFL-CIO to take over the Colorado council. [CBS] President Nixon and Soviet Foreign Minister Andrei Gromyko met at the White House and at Camp David, Maryland. In a speech to the United Nations, Gromyko took a stand against international terrorism; Nixon was pleased and invited Gromyko and Soviet Ambassador Dobrynin to a working dinner where they will discuss Vietnam and trade. Henry Kissinger escorted the Soviets to Camp David. [CBS] President Thieu of South Vietnam was briefed on Henry Kissinger's talks with North Vietnam by Kissinger's deputy, General Alexander Haig.Thieu recently closed most newspapers in his country by decree. He discontinued elections the of hamlet chiefs, a tradition which has been in operation since the 17th century. Thieu has abolished protests of any kind and closed the nation's universities. He revalued the currency and declared martial law. South Vietnam Senator Nguyen Van Chuc said that Thieu is unpopular with the people due to the extreme measures he has taken to secure power and to gain favor with President Nixon. [CBS] The North Vietnamese air force lost 16 MiGs to U.S. dogfights and bombings in September; 18 American planes were downed in September, including an Air Force F-105. [CBS] The House rejected a bill written by the House Internal Security Committee which would forbid American citizens from visiting North Vietnam or other countries which are at war with the United States. [CBS] The Senate voted $60 million for the hiring of civilians to relieve soldiers of "kitchen police" duties; Senator William Proxmire defended K.P., but Senator Lloyd Bentsen replied that soldiers don't need dishpan hands. To make military service attractive enough for volunteers, the Pentagon is trying to eliminate less attractive forms of military service, including K.P. One G.I. said that professional soldiers should not have to perform menial tasks.The late General George S. Patton liked toughness, discipline and character building, and he wouldn't have liked to hear K.P. called "women's work". [CBS] President Idi Amin ordered all 20,000 Asians in Uganda to be out of his country by November 9. Britain has asked other nations to share the refugee load, and the U.S. State Department announced that the United States will take in 1,000 Asian Ugandans. [CBS] In Belfast, Northern Ireland, gunmen ambushed a Four-Square Laundry truck, the company being known as a front for British Army intelligence. [CBS] The Agriculture Department, which has been criticized for withholding information on the Soviet wheat shortage, reported that Russia may be forced to buy grain from the world market for the next three to five years. [CBS] Norwegian voters last week rejected a bid to join the European Common Market. Denmark held a referendum today; the Danes voted 2 to 1 to join. Emotions ran high, for and against joining the Common Market. Nationalism is not dead in Europe; World War II resentments against Germany and the fear of industrialization caused some Danes to fight against entry. Exports are necessary to keep the country alive, however, and that depends on the Common Market. [CBS] Northwest Airlines pilots ended their 95-day strike. [CBS] FBI director L. Patrick Gray discussed the Watergate case at the Newspaper Editors and Publishers Conference today. Gray denied that there is administration pressure to influence the FBI's investigation, and he stated that no top administration officials are involved. [CBS] The Nixon campaign has decided not to oppose the re-election of Senator James Eastland and other Democrats who have supported administration legislation. Vice President Agnew said that Gil Carmichael, the Republican candidate for U.S. Senate in Mississippi, was told not to expect any administration help.Eleanor McGovern is with her husband on the campaign trail; she and Senator McGovern have discussed ways to cut drug traffic to the United States. They discuss the issues, travel and campaign together. She suggested an emphasis on day care centers for the children of working mothers, and he stressed the issue in his next speech. [CBS]

Stock Market Report

Dow Jones Industrial Average: 953.27 (0.00, 0.00%)
S&P Composite: 110.16 (-0.39, -0.35%)
Arms Index: 1.29

	Issues	Volume*
Advances	597	3.92
Declines	801	6.80
Unchanged	353	1.72
Total Volume		12.44

* 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*
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
September 26, 1972	936.56	108.17	13.15
September 25, 1972	935.73	108.05	10.92
September 22, 1972	943.03	108.52	12.57
September 21, 1972	939.49	108.43	11.94
September 20, 1972	940.25	108.60	11.98
September 19, 1972	943.18	108.55	13.33
September 18, 1972	945.36	108.61	8.80