News stories from Tuesday March 3, 1970

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

A national railroad strike has been called; President Nixon is asking Congress to block the strike. The union claims that a nationwide strike is necessary due to the court order banning selective walkouts. [CBS] In Lamar, South Carolina, 150 white parents battled South Carolina state troopers at a newly-integrated high school. The mob used chains, bricks and ax handles against police and black students on buses. Two buses were overturned. South Carolina Governor Robert McNair denounced the demonstrators and closed the school. [CBS] The House accepted the changes in the Senate's $19.4 billion Health, Education and Welfare bill; final passage is a mere formality. [CBS] Regional heads of the Department of Health, Education and Welfare in Atlanta and Dallas quit, declaring that the Nixon administration has been ineffective in handling civil rights. [CBS] French President Georges Pompidou's American tour has ended. Pompidou was mollified by President Nixon's efforts to negate the effects of the pro-Israeli/anti-Pompidou demonstrations that he faced. Pompidou blames municipal authorities, not demonstrators. Pompidou still refuses to lift his country's embargo on selling arms to Israel. [CBS] American businessman Arthur Watson will succeed Sargent Shriver as U.S. Ambassador to France. [CBS] Former President Lyndon Johnson is in pain, but his condition is stable. Doctors are trying to prevent a heart attack. [CBS] The Nixon administration is preparing to publish a report on American military action in Laos. The release of the report is thought to eliminate the need for a closed Senate session as demanded by Senators McGovern and Fulbright. Defense Secretary Melvin Laird denies that there has been any build-up of U.S. ground troops in Laos. But McGovern asserted that there is now heavier bombing in Laos than ever occurred in Vietnam, and he claims that CIA-directed ground troops are already in Laos. Fulbright believes that Laotian involvement is more dangerous than Vietnam, and Senator George Aiken says that an increased Laotian commitment would undermine America's military position in Southeast Asia.Laotian Premier Souvanna Phouma is actively seeking U.S. aid in stopping the North Vietnamese offensive. [CBS] South Vietnam claims 323 enemy dead in a three-week operation in the Mekong Delta. Victims of the Tet Offensive were remembered with speeches and prayers on the first anniversary of the massacre, in which North Vietnamese troops killed civilians who were embittered against the Communists. [CBS] Two thousand Filipinos marched on the U.S. embassy in Manila. [CBS] Great Britain called a United Nations Security Council meeting to block recognition of an independent Rhodesian government. [CBS] A congressional conference committee agreed to outlaw radio and television cigarette ads as of January 1, 1971. [CBS] Lawrence O'Brien decided to accept the chairmanship of the national Democratic party. [CBS] NASA announced that it will orbit two unmanned satellites around Mars next year. [CBS]

Stock Market Report

Dow Jones Industrial Average: 787.42 (+7.19, +0.92%)
S&P Composite: 90.23 (+0.52, +0.58%)
Arms Index: 0.90

	Issues	Volume*
Advances	836	6.69
Declines	531	3.83
Unchanged	248	1.18
Total Volume		11.70

* 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*
March 2, 1970	780.23	89.71	12.27
February 27, 1970	777.59	89.50	12.89
February 26, 1970	764.45	88.90	11.54
February 25, 1970	768.28	89.35	13.21
February 24, 1970	754.42	87.99	10.81
February 20, 1970	757.46	88.03	10.79
February 19, 1970	757.92	87.76	12.89
February 18, 1970	756.80	87.44	11.95
February 17, 1970	747.43	86.37	10.14
February 16, 1970	753.70	86.47	9.78