News stories from Tuesday January 25, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon will announce a new U.S. peace offer for Vietnam in a televised speech tonight. The President is expected to set a final withdrawal date for American troops from Vietnam in exchange for the release of American POWs by North Vietnam. [CBS]
- Reactions are already being expressed on what the President will say. The Viet Cong delegation at the Paris Peace Talks said that U.S. withdrawal alone is not sufficient for POWs to be released; the Communists additionally require American abandonment of the Saigon regime. William Porter, the U.S. ambassador to the peace talks, is in Washington receiving new instructions from Secretary of State William Rogers. [CBS]
- Advance reaction from Capitol Hill on President Nixon's Vietnam proposal is favorable, even among some past critics of his Vietnam policy. Senate Majority Leader Mike Mansfield said that if the offer is made, it will end his fight with the administration. But Senator William Fulbright is unhappy that President Nixon did not consult with Congress about such a major foreign policy announcement. [CBS]
- Communist bulldozers cleared trails for tanks near the Central Highlands in South Vietnam where the enemy offensive is expected. American B-52's continued assaults on enemy positions in North Vietnam and Laos to try to thwart the build-up. Three more U.S. "protective reaction strikes" were reported over North Vietnam. [CBS]
- Egyptian President Anwar Sadat predicted war with Israel, in order to quell students in Cairo who were rioting in favor of a war. [CBS]
- The AFL-CIO pledged to defeat President Nixon's bid for re-election. [CBS]
- Shirley Chisholm, the first black woman in Congress, announced her candidacy for the Democratic presidential nomination and stated that she hopes to have a say in what happens at the national convention. [CBS]
- Senator Edmund Muskie was endorsed by Pennsylvania Governor Milton Shapp. [CBS]
- In Iowa, 20 of 99 counties postponed their caucuses due to bad weather. Statewide, 39% of Democrat delegates are uncommitted, 36% are for Muskie and 23% for McGovern. All other candidates combined are getting about 2%. [CBS]
- Senate Democrats passed a resolution calling for the equal application of civil rights laws across the nation; the resolution has no binding effect. [CBS]
- The House gave final passage to the foreign aid bill, with only five months left in the fiscal year. The bill authorizes $2.75 billion in economic and military aid. [CBS]
- The Commerce Department reported that the 1971 trade deficit was $2 billion. [CBS]
- President Nixon asked Congress to raise the ceiling on the national debt by $50 billion, making the legal limit $480 billion. [CBS]
- Swiss police have asked author Clifford Irving and his wife Edith to come to Switzerland for questioning. A check made out to Howard Hughes for the rights to his autobiography was cashed there by a mysterious "Helga Hughes". Irving replied that he and his wife are coming to New York instead, for another court appearance. [CBS]
- Police in seven states rounded up 22 persons who were indicted by a federal grand jury in a mail fraud conspiracy. Businessmen had paid cash fees for loan endorsements, which were not honored. The U.S. attorney in Miami reported losses of millions of dollars in the scheme. [CBS]
- Harsh weather conditions are being reported across the Northwest. In Minneapolis, drifting snow, subzero temperatures and violent blizzards have claimed 12 lives. In Seattle, high winds caused snow drifts, resulting in many auto accidents. In New York City, two men were killed by falling debris caused by heavy winds. Skyscrapers swayed, pedestrians were blown down and glass windows popped in 63 m.p.h. gusts. [CBS]
- The Air Force has been warned to test the effects of burning a herbicide which has been banned in Vietnam, before the whole stockpile is disposed of in this manner. [CBS]
- The launch of Apollo 16 was threatened with another delay. [CBS]
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Dow Jones Industrial Average: 894.72 (-2.10, -0.23%)
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 24, 1972 | 896.82 | 102.57 | 15.64 |
| January 21, 1972 | 907.44 | 103.65 | 18.81 |
| 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 |