News stories from Thursday October 19, 1972

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

Henry Kissinger met for five hours today with President Thieu in Saigon. Thieu remains opposed to a coalition government which includes Communists and he rejected the idea of a cease-fire only in South Vietnam, calling for it to include all of Indochina. [CBS] Communist forces attacked allied positions seven miles north of Saigon. North Vietnam is trying to seize as much territory as possible -- particularly near Saigon -- before a cease-fire is declared. Communists reportedly control 10% of South Vietnam's 11,000 hamlets by day, and an unknown (but greater) number by night. [CBS] Two Americans died in Vietnam last week, four were wounded and five are MIA. 576 ARVN were killed last week. [CBS] Defense Secretary Melvin Laird will set up a system to assure civilian control of the military, in order to prevent the recurrence of actions like Air Force General John Lavelle's unauthorized bombing of North Vietnam. Laird described the plan to Senate Armed Services Committee chairman John Stennis. [CBS] Congress defeated President Nixon on two spending matters; Republicans are turning the defeats into a campaign issue. Treasury Secretary Shultz said that the President doesn't approve big spending, tax-happy attitudes. Presidential aide John Ehrlichman also criticized Congress' spending. President Nixon is considering withholding appropriated funds. [CBS] In Bridgeport, Connecticut, Vice President Spiro Agnew attacked George McGovern, criticizing him for berating America. Connecticut Senator Lowell Weicker refused to attend the Republican rally because it was sponsored by a local union official who was recently indicted for embezzling union funds. Hecklers were present at the rally. [CBS] A Harris poll shows that 6 out of 10 voters dismiss the Watergate case as "mostly politics" and do not believe that President Nixon was involved. Campaigning in Pennsylvania, George McGovern tried to link the President with Republican espionage and sabotage, and he also stated that Nixon has degraded the Supreme Court and Congress, and has no respect for the Constitution. [CBS] Mrs. Eleanor McGovern became ill again in Cleveland, and has returned to Washington. [CBS] Democratic vice-presidential nominee Sargent Shriver said that Democratic party finances are better than they were before, telling a group of Chicago businessmen that the campaign is now in the black. [CBS] 70 planes are still searching for the downed plane of Rep. Hale Boggs and three others between Anchorage and Juneau, Alaska. A secret Air Force SR-71 spy plane photographed the area. The weather has cleared, aiding the pilots' search efforts. Don Johns piloted the missing plane; he had been known to take risks. Rep. Boggs' wife and family have come to Alaska to stay close to the search. Pilots have been instructed to be on the lookout for signal fires. [CBS] The gross national product was up 5.9% between July and September. [CBS] A two-day conference of the leaders of Western Europe has begun in Paris. Nine Prime Ministers are meeting to chart the future of Europe. President Pompidou of France is stressing an economic and monetary union. Willy Brandt of West Germany called for common social security reforms. Prime Minister Heath of Britain wants community help for regions of high unemployment. [CBS] The U.S. and Russia will resume Strategic Arms Limitation Talks in Geneva, Switzerland, on November 21. An agreement on offensive nuclear weapons will be sought. [CBS] 300,000 Americans have been wounded in Vietnam over the years. In Denver, young Vietnam veterans, voting for the first time, expressed their political opinions. Fred Carizales and Jerry Locy lost limbs in the war. Carizales said that he doesn't want America to lose face because of the Vietnam war. Locy says the U.S. should get out of Vietnam with dignity. Ted Tabert said that he will vote for President Nixon because he dislikes George McGovern.Bill Peniston stated that the Vietnam war and the wounds he suffered there had a big impact on his political beliefs. He believes that the Vietnam war is a "total mistake," and he will not vote for President Nixon, who continues bombing and the war. Peniston said that he empathizes with draft dodgers and deserters. [CBS] The composition of Congress will change with November's elections, but Republicans will probably not gain control of Congress even with a Nixon landslide. The complexion of the House is changing because of retirements, defeat in primaries, and death. Rep. Emanuel Celler, chairman of the House Judiciary Committee, retired. House Rules Committee chairman William Colmer and House Merchant Marine chairman Edward Garmatz also retired. Losing in primaries were House Space Committee chairman George P. Miller, House Distinct of Columbia Committee chairman John McMillan and House Interior chairman Wayne Aspinall. Leonor Sullivan will take over the Merchant Marine and Fisheries Committee. [CBS] A former CIA agent has written a book claiming that the CIA stole a Russian Sputnik satellite while it was on a world tour, disassembled and studied it, then returned it without being caught. [CBS]

Stock Market Report

Dow Jones Industrial Average: 932.12 (-0.22, -0.02%)
S&P Composite: 108.05 (-0.14, -0.13%)
Arms Index: 1.08

	Issues	Volume*
Advances	596	5.03
Declines	754	6.86
Unchanged	402	1.96
Total Volume		13.85

* 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 18, 1972	932.34	108.19	17.29
October 17, 1972	926.48	107.50	13.41
October 16, 1972	921.66	106.77	10.94
October 13, 1972	930.46	107.92	12.87
October 12, 1972	937.46	108.60	13.13
October 11, 1972	946.42	109.50	11.90
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