News stories from Monday January 12, 1970

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

A massive effort is underway by the United States to save millions of Biafrans from starvation. The main concern of the State Department is whether or not the Nigerian government will ship relief supplies from Nigeria into Biafra. [CBS] The U.S. First Infantry Division will be leaving Vietnam under President Nixon's Phase III withdrawal. Fifty thousand troops will be withdrawn by April 15. [CBS] Senator Eugene McCarthy completed his visit to Moscow, where he met with the Viet Cong's chief negotiator in Paris and then conferred with U.S. Ambassador Sargent Shriver. [CBS] The wives of four U.S. pilots missing in North Vietnam stated that they are giving up attempts to seek Soviet aid in getting news of their husbands. The four arrived in Moscow without visas and have not been permitted to leave the airport. They plan to fly to New Delhi to seek help from the Indians. [CBS] President Nixon named a Negro educator and former All-American football player, Dr. Jerome Holland, to be ambassador to Sweden. Holland will be the only Negro ambassador in the predominantly white nation. [CBS] A federal grand jury in New York indicted Martin Sweig on charges of conspiring to misuse Speaker of the House John McCormack's office. Charged along with Sweig was Nathan Voloshen, a lobbyist-lawyer. Both were also charged with perjury. [CBS] Chicago has been one of the major battlegrounds in a civil rights drive for more jobs for Negroes in the construction industry. The Chicago Black Coalition's fight for more jobs for black workers in the skilled construction trades began last August with street demonstrations and construction site shutdowns which forced the industry to negotiate. Results of the bargaining were made known by Mayor Richard Daley, who acted as a mediator. Daley says that he opened the door for more black men to go into construction. But many white workers objected to accelerated training for blacks, saying that the government was making it too easy for blacks and noting that no such accelerated training exists for whites.The Nixon administration already has the "Philadelphia Plan", which requires contractors on federal construction jobs to hire more Negroes. AFL-CIO president George Meany criticized that plan in a speech to the National Press Club. Meany said that organized labor doesn't like the Philadelphia Plan, it is political in nature, and based on poor information. [CBS] Black militants disrupted a session of the New York state Senate. Two fires were set in the Capitol. One militant warned that if "something" is not done, more fires would occur. [CBS] A report from the Violence Commission said that the news media could help reduce violence in America. The press, radio and television could do this by paying more attention to the social problems that lead to conflict, according to the report. [CBS] Pan Am flew 380 persons from New York to London on board a giant Boeing 747 as a test run. The 747 is scheduled to go into service later this month, but is still pending government approval for regular use. [CBS] In Florida, state agriculture officials reported that frost damaged the winter vegetable crop, which will mean higher prices in February and March. [CBS] Pilot whales are beaching themselves in Florida; 150 whales swarmed onto beaches between Fort Pierce and Vero Beach, about 120 miles north of Miami. The reason they swam ashore to die is not known. [CBS] Authorities in Lagos accepted Biafra's surrender and urged people to treat the former rebels as brothers. Now Biafrans may finally receive food shipments. [CBS]

Stock Market Report

Dow Jones Industrial Average: 790.52 (-7.59, -0.95%)
S&P Composite: 91.70 (-0.70, -0.76%)
Arms Index: 1.49

	Issues	Volume*
Advances	451	2.00
Declines	918	6.08
Unchanged	228	0.82
Total Volume		8.90

* 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*
January 9, 1970	798.11	92.40	9.38
January 8, 1970	802.07	92.68	10.67
January 7, 1970	801.81	92.63	10.01
January 6, 1970	803.66	92.82	11.46
January 5, 1970	811.31	93.46	11.49
January 2, 1970	809.20	93.00	8.06
December 31, 1969	800.36	92.06	19.38
December 30, 1969	794.68	91.60	15.80
December 29, 1969	792.37	91.25	12.51
December 26, 1969	797.65	91.89	6.75