News stories from Monday January 26, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The House gave final passage to the Health, Education and Welfare appropriation bill, but the White House said that a veto would be forthcoming. The President's argument for vetoing the bill is that it is inflationary. [CBS]
- The labor and civil rights coalition which helped defeat the Supreme Court nomination of Judge Clement Haynsworth has formed opposition to Judge G. Harrold Carswell's nomination. AFL-CIO president George Meany stated that he hopes Carswell is rejected. [CBS]
- The Supreme Court ruled that draft boards do not have the power to take away student deferments and classify them 1-A because of antiwar activity. The Court also rejected Florida Governor Claude Kirk's effort to postpone the February 1 school desegregation deadline for his state. [CBS]
- A federal grand jury will hear witnesses in connection with the murder of United Mine Workers official Joseph Yablonski, his wife and daughter. Ohio Governor James Rhodes announced that he will not extradite the three men accused of the murder to Pennsylvania until the grand jury finishes its inquiry. The FBI is continuing to search for the murder weapon in the Monongahela River. [CBS]
- Sixteen months ago Cleveland Mayor Carl Stokes fired the city's police chief. Today Stokes fired Patrick Gerity, the successor, and named William Ellenburg as the new chief. Ellenburg will work under the supervision of new safety director Benjamin Davis. [CBS]
- Untreated sewage is pouring into the Ohio River as the result of a strike of non-union city workers in Cincinnati which is entering its fourth week. [CBS]
- West German producers of Thalidomide offered an out of court settlement of $27,300,000 for German children who were deformed by the drug. [CBS]
- A U.S. spokesman stated that enemy forces in Vietnam are hurting for manpower and will try to avoid large scale hostility during the Tet holiday. [CBS]
- The National Commission on Product Safety named 122 models of color television sets which catch fire at an above average rate. The electronics industry accused the commission of creating an unfair competitive advantage by releasing the information. [CBS]
- Madalyn Murray O'Hair, whose lawsuit halted compulsory prayer in public schools, has set up a church for atheists with herself as bishop. As long as all churches are tax exempt, O'Hair demands that hers must be also. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 768.88 (-6.66, -0.86%)
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 23, 1970 | 775.54 | 89.07 | 11.00 |
| 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 |