News stories from Wednesday March 4, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Vice President Agnew denounced the Lamar, South Carolina, demonstrators and said that the administration won't tolerate a violent response to desegregation. Other Southern whites may follow the example of Lamar parents if strong measures are not taken. [CBS]
- Louisiana Governor John McKeithen will lead the opposition to court-ordered integration if President Nixon's policy is not equal in the North and South. The Alabama, Mississippi and Louisiana Attorneys General tried to intervene in the Pasadena, California, desegregation case, but their assistance was refused. [CBS]
- Congress raced to pass legislation blocking the railroad strike, but their compromise left President Nixon, Congress and labor leaders dissatisfied; wildcat strikes may spread. [CBS]
- The Pentagon will close or reduce 371 military bases, eliminating 93,000 jobs and saving $914 million. President Nixon has appointed a committee to aid the affected communities. [CBS]
- Liberal Democrats contested Lawrence O'Brien's nomination as national Democratic party chairman. [CBS]
- Former President Johnson caught a cold, but his heart condition is stable. [CBS]
- The FDA now requires a four-page leaflet in each birth control pill package, warning of the possible side effects. [CBS]
- A French submarine and 57 crewmen were lost; debris has been found. [CBS]
- Senator Abraham Ribicoff is attacking black market operations in Southeast Asia. Government funds which were sent to stabilize Laos' currency were later found in a black market bank account in New York City. American pilots are smuggling $400,000 per week from Saigon to Bangkok. [CBS]
- Laotian Premier Souvanna Phouma claims that U.S. bombing is necessary to prevent a North Vietnamese takeover of his country. Secretary of State William Rogers outlined the defense plan for Laos to the Senate Foreign Relations Committee: there will be no U.S. ground troops, but there will be increased air support and military advisers. North Vietnam's troop strength in Laos is approximately 55,000. [CBS]
- Peru's newspaper was silenced by the Communist government. [CBS]
- Senator Edward Kennedy returned from his visit to Ireland. [CBS]
- Former St. Louis Cardinal outfielder Curt Flood lost his lawsuit against Major League Baseball's rule which allows trading a player without his consent. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 788.15 (+0.73, +0.09%)
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 3, 1970 | 787.42 | 90.23 | 11.70 |
| 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 |