News stories from Tuesday August 8, 1972

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

The Democratic national committee will meet to officially nominate Sargent Shriver as the party's new candidate for vice president. Shriver will be the only one nominated tonight; his name will be offered by Senator Mike Mansfield and seconded by Rep. Daniel Rostenkowski (a friend of Chicago Mayor Richard Daley), black female Rep. Yvonne Burke of California, and West Virginia Secretary of State Jay Rockefeller. Illinois delegate John Karns commended Thomas Eagleton's courage and statesmanship under intense pressure since his nomination as vice president. Reverend Jesse Jackson is miffed that McGovern aides worked for Mayor Daley to get his delegates to the committee meeting. [CBS] George McGovern flew to Florida for a labor speech. AFL-CIO president George Meany may be neutral, but McGovern does have labor friends; the Meatcutters Union supports him. Speaking in Florida, McGovern said that Nixon administration economic policy boosts big business at labor's expense.The White House responded, noting that McGovern's economic policies would increase taxes. Senator Hugh Scott and Rep. Gerald Ford urged passage of President Nixon's bill to limit congressional spending to $250 billion. [CBS] Demonstrators are threatening the Republican national convention with militant but non-violent confrontations. A pamphlet prepared by five protest groups outlines the planned demonstrations. [CBS] Rep. Donald Riegle criticized the "incredible" record of President Nixon, who pledged to end the Vietnam war. He cited Library of Congress statistics on American casualties, spending and bombing in southeast Asia since Nixon took office. [CBS] Communist troops and tanks are on the move in southeast Asia. A new offensive against Saigon or Hue is feared. North Vietnamese forces captured much of Kampong Trabek in Cambodia. [CBS] Three months ago today, President Nixon ordered North Vietnamese ports to be mined and their railroads and highways bombed in order to stem the flow of North Vietnamese supplies in South Vietnam. "Smart bombs" are being used to carry out the campaign. [CBS] Two months ago today, South Vietnamese planes accidentally dropped napalm on civilians northwest of Saigon. An Associated Press photograph of a young girl running naked from the fire became famous. A recent picture of Phan Kim Phuc shows her in a hospital, smiling. [CBS] In Armagh, Northern Ireland, 33 miles southwest of Belfast, a group of children stoned a British army scout car, hitting a soldier in the head with a brick, and they cheered when his car crashed and the soldier died. The children then stoned an ambulance which came to rescue another soldier; two policemen were injured. [CBS] The U.S. Navy has followed the Army's lead in increasing the role of women. With ratification of the equal rights amendment expected, Navy women will be assigned ship and telephone duties. At the Great Lakes Naval Training Center there are 200 "WAVES", most of them in nursing school, but 21 are studying to be electronic technicians. [CBS] Women live longer lives than men, and the margin is widening. In the period from 1959-1969, the life expectancy for an American male was 66.8 years; for a female it is 74.3 years (up from 73.2). [CBS] A year ago, the Vatican stipulated that persons wearing immodest attire could not enter St. Peter's Basilica. The nun who was assigned the duty of checking attire was soon relieved of that duty, as she suffered nervous exhaustion; the job was taken over by men. The Vatican announced that plastic raincoats will be available for those who are improperly dressed. [CBS] Many political experts say that George McGovern cannot win on the issues, but he may win by contrasting his personality with President Nixon's. [CBS] The 12th game of the world championship chess match in Iceland has adjourned. Bobby Fischer leads Boris Spassky by two points in the 24-match tournament. [CBS] Sanshiro Miyamoto is three inches too short to serve on the Detroit police force. He has been sleeping with his neck in a brace and weights on his ankles; he's grown 1 ½ inches. He also had his wife hit him over the head with a board so that his head will swell an additional half inch. [CBS]

Stock Market Report

Dow Jones Industrial Average: 952.44 (-0.68, -0.07%)
S&P Composite: 110.69 (+0.08, +0.07%)
Arms Index: 0.76

	Issues	Volume*
Advances	682	6.94
Declines	746	5.76
Unchanged	329	1.85
Total Volume		14.55

* 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*
August 7, 1972	953.12	110.61	13.22
August 4, 1972	951.76	110.43	15.70
August 3, 1972	947.70	110.14	19.97
August 2, 1972	941.15	109.29	17.92
August 1, 1972	930.46	108.40	15.54
July 31, 1972	924.74	107.39	11.12
July 28, 1972	926.70	107.38	13.05
July 27, 1972	926.85	107.28	13.87
July 26, 1972	932.57	107.53	14.13
July 25, 1972	934.45	107.60	17.18