News stories from Tuesday February 3, 1970

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

The Soviet Union sent a warning message to the U.S., Britain and France concerning the Mideast issue. The message stated that unless the United States makes Israel ease up on its attacks, the Soviets will be forced to give more arms to the Arabs. The Soviet Premier also is pressuring President Nixon not to send more modern weapons to Israel. [CBS] The allies will observe the 24-hour Tet truce in Vietnam, despite the possibility of another Tet offensive by the Communists. [CBS] The Senate's draft reformers renewed their campaign against inequities in the Selective Service System. A committee headed by Senator Edward Kennedy called for ending all deferments in wartime except those of high school students and hardship cases. [CBS] William Fulbright's Senate Foreign Relations Committee is turning its attention to Vietnam. Fulbright and Senator Harold Hughes fear that Vice President Spiro Agnew has "pistol-whipped" the news media into cutting back on its criticism of the Nixon administration.Senator Charles Goodell's legislation demands total U.S. withdrawal from Vietnam by December 1. Goodell says that "Vietnamization" is an illusion, but Agnew noted that Senate opposition to President's Nixon's handling of the Vietnam war has little public support. Polls agree that there is national support of Nixon's Vietnamization program. Since the Moratorium to End the War in November 1969, things have quieted down and there have been hardly any antiwar protests. Protesters like Father Richard Neuhaus plan low-key operations to stress the cost of the war. Neuhaus is running for Congress this year in Brooklyn, trying to unseat Rep. John Rooney; he plans to run a campaign that is funded by antiwar groups. In Connecticut, Reverend Joseph Duffey wants the Senate seat currently held by Thomas Dodd. The patterns in Brooklyn and Connecticut are similar. The Moratorium will organize mobile political teams to go into local campaigns and furnish technical help. [CBS] After a grand jury yesterday indicted 12 sheriff's deputies for civil rights violations during the Peoples' Park disturbances at Berkeley last spring, Sheriff Frank Madigan defended his deputies. [CBS] Rep. Jerome Waldie is challenging the leadership of House Speaker John McCormack. Waldie will offer a resolution of no-confidence in McCormack, hoping to trigger a debate. [CBS] The Senate Judiciary Committee completed its hearings on G. Harrold Carswell's nomination to the Supreme Court, but will delay voting for a week. Chairman James Eastland stated that Carswell's nomination will be approved. [CBS] There has been widespread noncompliance and defiance of the Supreme Court's deadline for school desegregation in the South. White students and teachers are refusing to attend schools with Negroes. [CBS] Pope Paul rejected any change in celibacy law and ordered the Dutch hierarchy to drop its demand for married priests. [CBS] Nigeria will deport 32 Catholic priests who served in what was once Biafra; most have been jailed for illegally entering Nigeria. [CBS] President Nixon's State of the Union address and his budget message declared his interest in fighting pollution. But Senator Edmund Muskie says that the President's words are merely rhetoric, not backed by action. Democrats claim that although the President made a nice speech, he trimmed the anti-pollution budget so that the goals of his speech can't be achieved. Congress intends to do more than Nixon wants, setting the stage for a party line struggle over cleaning up the environment. [CBS] The Supreme Court declined to bar the arrest of Frank Sinatra for refusing to answer a New Jersey subpoena. [CBS] In San Francisco, a grand jury investigating the Black Panthers subpoenaed a CBS news film about the Panthers and Eldridge Cleaver. Subpoenas were also served to other news organizations in the investigation. A grand jury in Chicago subpoenaed the files of Time, Life and Newsweek magazines concerning the Students for a Democratic Society. CBS president Frank Stanton and Time's editor-in-chief Hedley Donovan are challenging the subpoenas. [CBS] Ralph Abernathy said that he's too busy to return to testify for the defense at the "Chicago 7" conspiracy trial, but he sent a message complaining about the court's proceedings. [CBS] A private ceremony was held for the burial of Lord Bertrand Russell. Lord Russell spent the last 20 years in Wales. He contributed to mathematics, logic and literature, and spent much time campaigning against war and racial discrimination. At the age of 90, Russell was sent to prison for disobeying court orders and obstructing police. Russell feared that mankind will destroy itself, stating that we must never rest while "satanic schemes" hold sway. [CBS]

Stock Market Report

Dow Jones Industrial Average: 757.46 (+11.02, +1.48%)
S&P Composite: 86.77 (+1.02, +1.19%)
Arms Index: 0.97

	Issues	Volume*
Advances	946	10.47
Declines	423	4.55
Unchanged	219	1.03
Total Volume		16.05

* 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*
February 2, 1970	746.44	85.75	13.44
January 30, 1970	744.06	85.02	12.32
January 29, 1970	748.35	85.69	12.21
January 28, 1970	758.84	86.79	10.51
January 27, 1970	763.99	87.62	9.63
January 26, 1970	768.88	88.17	10.67
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