News stories from Friday January 16, 1970

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

The Nigerian government claims to be helping Biafrans and stated that there is no emergency. In Lagos, the Nigerian information minister said that relief teams have canvassed the area, refugee movements have stopped and the refugees were given food. No reporters are permitted in Biafra.General Yakubu Gowon received the official Biafran surrender from Major General Philip Effiong. General Effiong assured the Nigerian government that the Biafrans will be loyal Nigerians. Biafra may no longer exist, but its people are insecure; there are no signs that Gowon is carrying out his promises. The United Nations announced that Secretary General U Thant will visit Nigeria on Sunday at the invitation of Gowon. [CBS] Louisiana Senator Allen Ellender spoke out in defense of the U.S. killings of alleged Vietnamese civilians at My Lai. [CBS] Secretary of State William Rogers said that President Nixon's decision to end the U.S. combat role in Vietnam is irreversible. But United States withdrawal still depends on the President's criteria: the progress of the Paris talks, the level of enemy combat, and how fast South Vietnam can take over the fighting. [CBS] The Department of Health, Education and Welfare is over budget by $1 billion more than the President wants and he has threatened to veto the department's budget for the upcoming fiscal year. Congressional liberals plan to override the veto. A total halt to medical and educational research and anti-pollution and rehabilitation aid is possible. [CBS] Government reports indicate a slowdown in the economy. The nation's industrial production declined in December for the fifth straight month. The Commerce Department stated that the personal income of Americans made its smallest monthly advance of 1969 during December. The GNP showed no substantial advance during the fourth quarter of last year. White House press secretary Ron Ziegler said this shows that the anti-inflationary policies which the President is pursuing are beginning to work. [CBS] Former Congressman Adam Clayton Powell of Harlem criticized the court order which requires 14 Southern school districts to desegregate by February 1. [CBS] The Canadian government announced that it will support the conversion to the metric system. [CBS] William T. Piper, called the Henry Ford of aviation, died in Pennsylvania. He developed and produced the Piper Cub, the two passenger single engine plane. [CBS] Millionaire Michael Brody is spreading his money around by giving it away to others. A flood of people have come to Brody, asking for money. Brody claims to have given away $60,000 so far, including using the method of handing out $100 bills to random people on the street. [CBS]

Stock Market Report

Dow Jones Industrial Average: 782.60 (-2.44, -0.31%)
S&P Composite: 90.92 (-0.76, -0.83%)
Arms Index: 1.45

	Issues	Volume*
Advances	466	2.91
Declines	839	7.62
Unchanged	267	1.42
Total Volume		11.95

* 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 15, 1970	785.04	91.68	11.12
January 14, 1970	787.16	91.65	10.38
January 13, 1970	788.01	91.79	9.87
January 12, 1970	790.52	91.70	8.90
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