News stories from Friday January 23, 1970

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

Israel and Egypt battled along the Suez Canal. The Israelis bombed near Cairo, and Egyptians attacked Israelis who had seized a Red Sea island. The biggest battle in the Middle East in two years occurred when Israelis entered an area south of the Dead Sea and occupied it for 19 hours. [CBS] Relief shipments from the world arrived in Nigeria with the hope that they would reach the Biafrans. But food is not getting to people due to confusion, although General Yakubu Gowon of Nigeria maintains that food is getting to people. The Ivory Coast granted asylum to General Odumegwu Ojukwu, the Biafrans' first leader. [CBS] Hanoi radio rejected as pure fiction President Nixon's statement that Vietnamese peace prospects have improved over the past year. In Saigon, a dispatch quoted U.S. intelligence sources as saying there has been a buildup of enemy troops in South Vietnam's northern province. [CBS] The Selective Service System ordered draft boards to limit February inductions to young men holding the first 60 lottery numbers. Draft officials in 15 states replied that they are unable to fill their quota under that limit. [CBS] Chicago Mayor Richard Daley called for an end to the Vietnam war, not only because of death and destruction, but also its economic cost. [CBS] Florida Governor Claude Kirk appealed to the Supreme Court to declare a uniform standard for desegregation across the nation, and to set one date for schools everywhere to comply. The Attorneys General of Alabama, Louisiana and Mississippi announced a joint legal effort to make all public schools in the United States conform to the desegregation rules which are currently being applied only to the South. [CBS] At the Chicago riot conspiracy trial, five spectators were ejected from the courtroom. Defendant Rennie Davis testified in his own behalf. Defendant David Dellinger accused the judge of inciting a riot. Spectators applauded Dellinger and five people were then ejected; one was defendant Jerry Rubin's wife.Months before the 1968 Democratic National Convention, Rennie Davis and Tom Hayden wrote an outline stating that their campaign should not plan violence and disruption, but Judge Julius Hoffman refused to admit the outline as evidence. [CBS] The Senate passed the President's bill to crack down on organized gambling and Mafia infiltration of legitimate business. Washington Mayor Walter Washington recommended increasing the District's police force in order to better fight crime in his city. [CBS] More arrests are expected in last month's murder of Joseph Yablonski, his wife and daughter. Three Ohio men are already charged with the killings of the former United Mine Workers leader and his family. The FBI is broadening aspects of the investigation. [CBS] Joseph Fielding Smith, Jr. was named President and Prophet of the Mormon Church in Salt Lake City. He succeeds David McKay, who died last Sunday. [CBS] Senator Edmund Muskie declared that President Nixon's proposals in his State of the Union address for fighting pollution don't go far enough. Scientists at the U.S. Bureau of Mines announced that every ton of garbage can produce one barrel of crude oil. [CBS] The White House is encouraging the development of domestic satellite communication systems. FCC chairman Dean Burch said that the White House's proposal would get consideration, and CBS president Frank Stanton lauded it as being practical and realistic. [CBS] The Russians are concerned about improved relations between the United States and China. The Soviets charge that Mao Tse-tung, although talking about China's struggle against imperialism, is in reality strengthening trade and diplomatic contacts with Washington. [CBS]

Stock Market Report

Dow Jones Industrial Average: 775.54 (-10.56, -1.34%)
S&P Composite: 89.07 (-0.88, -0.98%)
Arms Index: 1.85

	Issues	Volume*
Advances	398	1.92
Declines	937	8.36
Unchanged	246	0.73
Total Volume		11.01

* 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 22, 1970	786.10	89.95	11.05
January 21, 1970	782.27	89.91	9.88
January 20, 1970	777.85	89.83	11.05
January 19, 1970	776.07	89.65	9.50
January 16, 1970	782.60	90.92	11.94
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