News stories from Tuesday February 17, 1970

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

Israeli planes hit within 19 miles of Cairo. Their target was two Russian-built missile bases. Golda Meir accused President Nasser of waging a war of attrition and she stated that Israel will not stop military operations until a total cease-fire is agreed on. United Nations Secretary General U Thant says that it will take strong measures to avert another Mideast catastrophe. [CBS] At the Geneva disarmament conference, the United States called for the negotiation of a treaty forbidding biological weapons. Russia wants not only biological weapons but chemical weapons banned. [CBS] President Nixon got a report on Vietnam from Melvin Laird, who is just back from the war zone. The White House accentuates that Vietnamization is on schedule, and both military and non-military aspects are encouraging. The President is deciding on the time and size of the next troop withdrawal.The Freedom Foundation gave President Nixon a statue and lectured about the need for the U.S. to be involved in Vietnam; they were critical of the negative reporting on Vietnam. [CBS] The Senate Foreign Relations Committee opened hearings on Vietnam with an emphasis on aspects other than combat. The main topic was "Operation Phoenix", a project aimed to capture or kill Viet Cong political agents. [CBS] At Fort Bragg, murders similar to the Sharon Tate case have taken place. Capt. Jeffrey MacDonald's wife and two daughters were stabbed to death and MacDonald was hospitalized for stab wounds. MacDonald told police that the murderers were three men and a woman. [CBS] A Baltimore grand jury charged that a Washington lobbyist used House Speaker McCormack's office to defraud a firm seeking a Navy contract. Nathan Voloshen and two others were indicted. Voloshen and Martin Sweig had earlier been indicted for influence peddling. [CBS] Sports Illustrated reported that Detroit Tigers pitcher Denny McLain was part of a bookmaking operation with Mafia connections in 1967. [CBS] The Chicago conspiracy trial jury is still out, and the defense has moved for dismissal on grounds that the jury is deadlocked. The jury is in fact divided; three women are believed to be holding out for a verdict of not guilty. Lawyers and law students marched outside the Chicago courthouse to protest the contempt sentences under which the defendants are currently jailed. A thousand demonstrators who were protesting the contempt sentences charged a courthouse in Seattle. [CBS] Hours after an explosion at a San Francisco police station, a sniper fired on policemen at the Hall of Justice. A patrolman spotted the sniper, who then fled in a car. A bomb hit the Haight-Ashbury police station last night, wounding seven. San Francisco Mayor Joseph Alioto described the incidents as "incredible insanity." [CBS] Theodore Sorensen, former aide to John and Robert Kennedy, announced his candidacy for the Democratic nomination to the Senate from New York, for the seat now occupied by Republican Charles Goodell. [CBS] A change in the weather is aiding efforts to control the oil slick in Tampa Bay. Rain and wind have broken up the oil, sparing the beaches. [CBS] The Senate debated John Stennis' amendment to require nationwide uniform enforcement of school desegregation standards. Hugh Scott offered a compromise: uniform enforcement in all regions that are dealing with unconstitutional segregation in their schools. Four southern governors are in Washington to protest the court-ordered forced busing of students. [CBS] Leon Panetta, the Department of Health, Education and Welfare's civil rights chief, resigned today, saying that political pressures were put on his dealings with race relations. Some believe that the Nixon administration forced Panetta out because of his liberal views. [CBS] Formerly all-white Greenville, South Carolina, schools welcomed blacks in the new desegregation plan ordered by former Supreme Court nominee Judge Clement Haynsworth.In Monroe, Louisiana, Negroes are fighting to keep their own school. Monroe Mayor W.L. Howard opposes the court order for integration; the judge may charge the mayor with contempt of court. Both black and white citizens plan to help the mayor. [CBS] The Nixon administration endorsed lowering the voting age to 18 for national elections, leaving it up to states to decide about state elections. [CBS]

Stock Market Report

Dow Jones Industrial Average: 747.43 (-6.27, -0.83%)
S&P Composite: 86.37 (-0.10, -0.12%)
Arms Index: 1.02

	Issues	Volume*
Advances	572	3.94
Declines	742	5.20
Unchanged	272	1.00
Total Volume		10.14

* 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 16, 1970	753.70	86.47	9.78
February 13, 1970	753.30	86.54	11.06
February 12, 1970	755.61	86.73	10.01
February 11, 1970	757.33	86.94	12.26
February 10, 1970	746.63	86.10	10.11
February 9, 1970	755.68	87.01	10.83
February 6, 1970	752.77	86.33	10.15
February 5, 1970	750.26	85.99	9.43
February 4, 1970	754.49	86.24	11.04
February 3, 1970	757.46	86.77	16.05