Sioux City Journal from Sioux City, Iowa • 4

mi Louver Favors Democrats: Do Stocks Tell Election Story? u. 1 At IT iH Si! m4 MA 4 Mcn'dsy. Jufy 17. 1972 (Elf? ioux 3mmtal AN INDEPENDENT NEWSPAPER Established as a weekly August 20, 1864. Daily edition founded by Geo.

D. Perking April 19, 1S70. The Sioux City Tribune founded by John C. Kelly, January 1, 1SS0. The Sioux City Journal-Tribune combined December 29, 1541.

SIOUX CITY NEWSPAPERS, INC. Publishers, Fifth and Douglas Streets, Sioux City, Iowa 51102 MEMBER OF ASSOCIATED PRESS: The Associated Press is entitled, exclusively, to the use for republication of all news printed in this newspaper, as well as all Associated Press news dispatches. By Sylvia Porter Today's Bible Verse "For the Son of man goes as it has been determined, but woe to that man by whom he is betrayed!" And they began to question one another which of them it was that would do mis. Luke 22:22, 23. Men are never so likely to settle a question rightly as when they discuss it freely.

Thomas Macauley, historian. if fc 1 1 1 Iff lllw UT If' itfA i Indecisive Punishment Ban Franklin Roosevelt's last vle tory. Since 1900, only two of the 12. incumbents have been ousted, by the way: Hoover, 40 years ago, and Taft in 1912. And no party during this entire century has remained in power for only four years.

Q. Under which party has th stock market fared best? A. "This will shock people," Hirsch cautioned me. "I wasn't aware of it myself." The Mowing figures show that investors have fared more than twice as well under Democrats as under Republicans. Republican Eras: In the 12-year period from 1901 to 1912, the stock market rose 36.5 per cent; in the 12-year period from 1921 to 1932, there was no overall change in the stock in the 8-year period from 1953 to 1960, the stock market rose 118.1 per cent; in the 3'2-year period from 1969 to mid-1972, the stock market rose 2.2 per cent.

Over the combined eras of 35'2 years, the total rise in the stock market was 156.8 per cent. Democratic Eras: In the 8-year period from 1913 to 1920, the stock market fell 27.4 per cent; in the 20-year period from 1933 to 1952, the stock market rose 281.8 per cent; In the-8-year period from 1961 to 1968, the stock market rose 87.5 per cent. Over the combined eras of 36 years, the total rise in the stock market was 341.9 per cent. THAT WORKS out to an average gain per year of 4.4 per cent under the Republicans and 9.5 per cent under the Democrats. (P.S.

The Dow Jones average was 890.20 at the start of the year. It has been hovering between 925-950 reentry.) (vFild EnteroriMb Inc.) MIAMI If the stock market Is lower at election time than at the start of 1972, the Democrats will most likely win the White House. But if the market, as measured by the Dow Jones Industrial Average, is higher than on New Year's Day, President Nixon will most likely be re-elected. Since 1900 almost three-quarters of a century this remarkable indicator has usually foretold the presidential winner, according to Yale Hirsch, president of the Hirsch Organization of Old Tappan, N.J., and author of the annual "Stock Trader's Almanac." There have been only three exceptions: 1912, 1940 and in 1968 when, says Hirsch, "The marvelous indicator never really had a chance due to Johnson's withdrawal as a candidate and the bombing halt." WITH extraordinary frequency during the Democratic convention week, I had been asked questions about the stock market and where it might be heading. Here are some fascinating answers I obtained from Hirsch, which will be included in his 1973 Almanac, to be published in late September.

Q. What happens to the stock market between convention times and election day? A. In the first 40 years of the 20th century, the market rose 10 out of 11 times, usually spec tacularly, between the end of the Republican convention in June and November. There were fractional losses in 1944, 1948, 1952, 1956 and 1960. SINCE THEN, THE market has been a winner between the end of the GOP convention and election day (up 2.8 per cent from July 17, 1964, and up 8.8 per cent from Aug.

9, 1968). The market has become much less volatile in the last six election years, with the average change 7 per cent against an average 19 per cent in the previous 12 election years. Q. Does the market react, more favorably to Republican or Democratic victories? A. The Republicans win hands down on this category, reports Hirsch.

Since 1900, the market as measured by the Dow Jones, has risen on eight of the nine occasions a Republican has won and on only four of the nine occasions a Democrat has won. RESEARCH BY THE investment firm of Niederhoffer, Cross Zeckhauser also found that the average change the week after a Republican victory was: Up 1.08 per cent. Following Democratic victories it was: Down 0.23 per cent. But there's a catch here! The market tends to discount the victory of an incumbent president. Since 1944, the Dow Jones Industrial Stock Average has declined the day, week and month following the re-elections of all the incumbent candidates during the period: Roosevelt (1944), Truman (1948), Eisenhower (1956) and Johnson (1964) except for a tiny 0.89 per cent gain the month after I only way to get the nuts out of the tree" Sellout on Challenge: Nominee Sours--Women- Activists treason.

Mr. Nixon expressed the hope that the ruling does not ban capital punishment for hijackings and kidnaping. The court action did leave the door open for legislating of specific death penalty cases, and there are some sticky areas in which telling arguments can be made for the ultimau punishment. One is in the killing of prison guards. Such officers are constantly vulnerable to escape attempts by lifers because there is nothing to lose if the death penalty is banned.

Another is in the assassination of presidents. Many advocate that the mandatory death penalty should be present in federal law for the slaying of any candidate for high office. a What the Supreme Court ruling did bring forth' with emphasis was "that the "cruel and unusual punishment" prohibition gauge based on the Eighth Amendment is supported by some strong arguments. Among them, and difficult to dispute, is that the death penalty is not a deterrent, it is rarely applied and hat when it is it falls disproportionately on blacks, the poor and the ignorant. Just one more Nixon appointee could swing the high court balance, which could reverse the decision at some future hearing on the appeal sure to appear.

But the ruling indicates a drift away from indiscriminate capital punishment and suggests that if it is restored either by court edict or state legislation, guidelines will restrict it to specific cases. Thirty-seven nations have banned the death penalty. This country is drifting in that direction. But the Supreme Court's split decision remains more as a benchmark than a milestone. i I Marianne 1 JUv I I tV Means 1 "speak to him later about She was a New York delegate-' at-large pledged to MlcGovern.

THIS IS THE SECOND time in his campaign for the White House that McGovern has disappointed women's rights activists, During the earfly primaries, he said that he liberalized abortion and believed it should be "a matter between a woman and her doctor." But as anti-abortion pressure mounted, he steadily retreated. By the time he hit California, he was saying that abortion is MIAMI BEACH Women's rights advocates are furious with presidential nominee George McGovern for abandoning their cause at a crucial moment during the Democratic convention. McGovern was the only candidate who campaigned as a champion of female equality and as a result has had the support of a majority of women activists." But now they feel betrayed. When the chips were down, equality for women did not prove as important to McGovern as cinching the Buchwald Barbs: 'Rich White People' in Revolt A vaguely indecisive U.S. Supreme Court decision to ban the death penalty was less an emphatic banishment of capital punishment than an indicator that the balanced court President Nixon has sought is becoming a reality.

It held both the moderate and in many ways enlightened view that likely would have produced a thundering verdict from the previous Warren Court, and it reflected the conservative doubt that the nation becomes more vulnerable by removing its most decisive means of punishment. The nine-opinion verdict, the five "ban" views differing in varying ways, pitted the five holdovers against the dissent of the Nixon appointees. What probably is the most ambiguous of the new court's file of work drew from Prof. Yale Kamisar of the University of Michigan the comment that, "Whenever you've got five opinions, you've got a very vulnerable precedent." It was even hinted in some of those opinions that states reacting to the ban edict likely could satisfy the court with legislation enacting the death penalty in certain cases. Already congressional overtures for a constitutional amendment have been heard, allowing the death penalty for murder and Bobby's Ploys Chess buffs are annoyed at delays that mean elapsed time before they can study plays by the experts.

National honor gets a little scuffed. But the common folk of the watching world, to whom the game means little except that it is complicated, react sourly to what appear as spoiled brat antics of their entrant, Bobby Fischer. The much-touted world championship chess confrontation pitting the Russian holder of the crown, Boris Spassky, and America's Fischer, finally got under way after an almost ludicrous buildup in which both players acted badly and the Soviet government appeared more indignant than when President Nixon announced the mining of North Vietnam harbors. Fischer opted for more money, gained the pledge, and then responded to Spassky's demand for an apology for the delay and the match got under way. In defense of both players, it must be pointed out that the extremely exacting game of chess involves as many psychological ploys as can be mustered.

But when Bobby forfeited the second match by pouting over the presence of cameras at the playing site, we wonder if he didn't overplay his hand in the war of nerves. in mid-tally as a result the challlenge tost by 126.7 votes, o- M'GOVERN dumped women's cause because he feared that a narrow victory margin would permit Sen. Hubert Humphrey's supporters MIAMI I was walking into the convention center when I saw a man being thrown out by two Democratic party mar to raise a potentially damaging strictly a matter for state nomination. He demonstrated shals. He was surprisingly well auul- fle nnvAil nnpotinn at a tim that on this issue on CZrr" i 7 egisiatures to oec ae ana mac dressed icke, Wm when he vulnerable By Art Bucriwald was more he agreed with Humphrey on increasing number of others he will cheerfully forget ideology and principle whenever it seems to conflict with the politically pragmatic course.

FURTHERMORE, THE ease with which McGovern did them the subject. Humphrey is almost as fervently opposed to liberalized abortion as is President Nixon. WOMEN'S RIGHTS leaders are beginning to wonder if they than he would be later in the evening. Rep. Bella chief spokesman for the challenge, was so angry she stalked off the floor, the brim of her big hat flopping in agitation.

Later she blamed McGovern's "move on in is evidence that women as a can count on McGovern to keep bloc still lack significant his being "too uptight about hi es t0 the once whites said, "Those people in there have no right to speak for us. They've never had money, so how do they know what it is to be rich? They've never been audited by the Internal Revenue Service or seen their stock portfolios go down because of inflation. They don't know what the nomination but vowed to political clout. They are depen 0)1972 McNKMTttSvndtctM ina. "The Rich White People are the backbone of this country.

They made it what it is today." SEVERAL RICH White People joined us as we were talking. One woman stood up on her Rolls-Royce and shouted, "We have as much right to be in the hall as the blacks, the Chicanos, the Indians, the women and the youth. The Democratic party used to care about Rich White People, but now that they're fat with their telethons they don't give a damn about us any more." The man in the Gucci shoes said, "We're not going to sit around and take it. We're going to turn this convention around. If our voices aren't heard, we're going to shut down this country." "RIGHT ON!" the small crowd shouted.

"There aren't enough jails to lock up all the Rich White People who are sick and disgusted with the system." "We're not doing this for us," a lady in a Dior pantsuit yelled. "We're doing it for our children. We want them to have a better life than we had. We want them to inherit what is theirs. Why should the 'have-nots' get everything and the 'haves' be thrown out of the convention hall?" from the ground and brushed him off I asked, "What happened?" He wiped his face with a silk hanidkerchief, "They threw me out because I was lobbying for Rich White People." "Rich White People?" "Yes," he said, brushing his Gucci shoes with his handkerchief.

"No one at this convention cares about Rich White People. They pay Hp service to us, but when it comes to doing something about our plight they ignore us. We're the only minority that's been disenfranchised at this convention." "BUT THAT'S terrible," I said. "We Rich White People are sick and tired of being used as pawns by the politicians. We're fed up with them coming to our country clubs and promising us everything depreciation allowances, tax shelters, lower income taxes.

And then after election day we're no better off than we were before. We have a right to be heard." "Of course you have, I said. he is safely in the White House and no longer needs their votes. He has promised to name a woman to the Cabinet, the first vacancy on the Supreme Court, the National Security Council, and the chief ambassadorship to the United Nations. He has also promised to fight for ratification of the Equal Rights Amendment, child care legislation and other measures of importance to women.

But he had also promised to support the effort of women to win proportional representation on convention delegations, in accord with the new rules. He told the National Women's Political Caucus that 4 FlwM. i dent upon the good will of powerful male politicians and they will not stick together for their own cause over other issues. McGovern was responsible for an embarrassingly big defeat for the National Women's Political Caucus on a symbolic challenge to force the South Carolina delegation to add women to its group in proportion to their share of the state's population. The challenge may have been only narrowly defeated and provided at least a psychological boost to the women's cause if McGovern had not ordered supporters in three delegations to switch and vote against it.

McGovern loyalists in Oregon, Colorado and Connecticut changed their position it is to put tneir fortunes tax-free municipal bonds or try to deduct a dinner for 50 as a business expense." Just then a man from the Democratic National Committee came out and said, "Mr. Lawrence O'Brien would like a delegation of Rich White People to be his honored guests in the gallery, providing you promise to behave yourselves." "HOW MANY Rich White People is he talking about?" the man in the Gucci shoes demanded. "Ten." the DNC reoresen- TO ft MM MM Carolina challense and unequivocal sr. wsmmmM me isouui iffttilf Wmm had his 'm support." Thi the South That was 11 hours before he sold them out, (Kinq Feotur) tative said. "Tell him to forget it.

We don't want tokenism. We may be rich, but at least we're proud." (9 Lsi Anotltt Times) AU About Everything By L. M.Boyd Mien Dieting, Peel Poultry Worried Minority: ANOTHER MAN in tennis i jjm mi McGovern's Big State Challenge Rough BERRY'S WORLD By Kevin P. Phillips keep a stove, a water heater and a funace burning in a small house." IS IT A fact a duck's quack never has an echo? AMONG those successful gentlemen who earn more than $100,000 a year, surveys show, 14 per cent never eat any breakfast, PRAY, did these towns get their names? Battiest, Okla. Dames Quarter, Md.

Frostproof, Fla. Nine Times, S.C. Smoky Ordinary, Va. Mysterious. A SAD statistical study shows most suicides are arranged so the person the victim wants to hurt will find the body.

Address mail to L. M. Boyd, P.O. Box 17076, Fort Worth, Tex. 76102.

(Copyrtoht L. M. Boyd) criticized in the language of the Democratic platform, and the former President's picture (after first being stolen!) was hung in the remote, inconspicuous area of the convention hall. Although LBJ still maintains his posture of 1972 party loyalty, soma Texas Democrats expect him to be a silent partner in John Connally's efforts to deliver the state to Richard Nixon and the GOP. California: Even as George McGovern was regaining his full slate of 271 California delegates (after temporarily being shorn of 151), angry Humphrey Democrats Eugene Wyman and San Fran- Cisco Mayor Joe Alioto were questioning whether McGovern could possibly win California in November.

Intra-party antagonisms have been sharpened by the bitter credentials clash. Although George McGovern has his nomination now, the White House is a long way off. The old guard has been beaten in Miami Beach, but the way in which this has been achieved suggests that McGovern himself will be defeated in November. A CHICKEN'S fat is right under the skin. Even as yours and mine.

Dieters please note, peel your poultry. IN JUST about 18 out of every 100 divorces, the husband deserts before the wife calls a lawyer. IF YOU want to know how far a mile is, young lady, take 2,437 steps. That's average for a grown girl. ACCIDENTALLY turned up in a study of medical records nationwide was the curious fact that a disproportionate number of traveling salesmen complained to their doctors about pain in the left shoulder.

Diagnoses varied widely. But finally a bright medical fellow in St. Louis got it. While driving, they lean on the left elbow overlong, fixing that shoulder in an awkward position. This illuminating discovery lead to further statistical research which proved bursitis occurs far more often In the left shoulder than in the right.

THIGHS of la reptiies are horizontal. Thighs of la mammals are vertical. This is a dandy generality. Let's not clutter it up with a lot of small talk about whales and porpoises. They don't count.

A TINT, a shade, a tone. Do you know the difference? Take red. Mixed with white, It makes a tint. Pink. Mixed with black, it makes a shade.

Maroon. Mixed with black and white, it makes a tone. Rose. REPORTS Fred Williams: "Laboratory experts have determined that 10 average cows burp enough methane gatf each day to MIAMI BEACH Even as most Democratic politicians in Miami Beach tabulated delegates, a worried minority has been filling in another kind of scoreboard: How George McGovern's November victory prospects in key states have been dissipated by his tactics en route to the nomination. Here are the dangerous circumstances confronting the South Dakota senator in the nation's seven biggest states: New York: Jewish anger at McGovern's position on Israel is not the only factor behind a growing doubt that the senator can carry New York.

Two Democratic county chairmen, Meade Esposito of Brooklyn and Pat Cunningham of the Bronx, have boycotted the convention. Two other leaders, Joe Crangle of Erie County and Daniel O'Connell of Albany, carry grudges and scars from the June primary campaign. Earlier, New York City Longshoremen's Chief Anthony Scotto withdrew as a delegate in protest against "anti-Italian" aspects of the McGovern delegate selection process. Pennsylvania: Limited McGovern enthusiasm in Pennsylvania's labor-dominated con vention delegation "reflects the senator's basic weakness. The White House has already lined up open or tacit Nixon endorsements from Philadelphia's Democratic Mayor Frank Rizzo, Roman Catholic Cardinal Krol and several top Democrats in Allegheny County (Pittsburgh), and other old-line Democrats are also expected to bolt.

Ohio: One measure McGovern's local handicap came when Frank King, president of the Ohio AFL-CIO and linchpin of the state Democratic party, charged that the South Dakotan was gaining his nomination from a' 'stolen convention." King refused to indicate whether Ohio labor would McGovern as the party nominee. Instead, King said he would take his cue from AFL-CIO President George Meany, whose hostility towards McGovern is becoming a chief topic of nervous Democratic speculation. Michigan: Experts believe that McGovern can't carry Michigan because of his insistence on backing a party platform plank endorsing school busing as one tool of integration. Busing is a pivotal Michigan issue because of con- troversial local federal court orders. Illinois: Having been refused seating at the Democratic convention, Chicago's Mayor Daley is almost certain to seek revenge on McGovern in the autumn.

The likelihood that Daley will undercut the top of the ticket is bolstered by his additional desire to beat the anti-organization gubernatorial nominee, Dan Walker. Should the mayor restrict his organization stalwarts to efforts only on behalf of local Democratic candidates, McGovern would have little chance of carrying Cook County (Chicago), or the' pivotal state of Illinois. Texas: Former President Lyndon B. Johnson has been shunned and his memory spat upon by the new forces in control of the Dcrnocratic party. LBJ's policies are 1 1972 by NtA, Inc.

I "See what you did by sending away for something in a catalogue now we're on everybody's mailing list!" "If it will ease your mind, I haven't considered defecting either!" (Klni FriurM.