News stories from Thursday March 5, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The U.S. government is contesting the United Mine Workers 1969 re-election of Tony Boyle as president. Boyle's challenger, Joseph Yablonski, was murdered after disputing election procedures. Boyle's confirmation as union president is probable, as there is no strong opposition candidate. [CBS]
- Lockheed Aircraft is asking for government funds pending the settlement of its Pentagon contract. Lockheed plant officials refused comment on the company's financial crises. Defects in workmanship on the C-5A transport raised the cost above the $5 billion ceiling. Trading of Lockheed stock was halted before the financial trouble was announced. The Air Force F-111 fighter-bomber was grounded due to a structural flaw, and Australia may cancel its 24-plane order. [CBS]
- Twenty-seven people were arrested in connection with a South Carolina racial riot. More arrests followed police photograph identifications. [CBS]
- Congress for Racial Equality leader Roy Innis proposes creating school districts along community lines. Southern white and black leaders both approve. Blacks refuse segregation, whites refuse integration; there are no other present alternatives. [CBS]
- The U.S., Great Britain and Russia enacted a non-proliferation treaty. The pact is designed to halt the spread of nuclear know-how; 46 countries have signed, but China, France, India and Israel have not. [CBS]
- Communist Romania called for an international treaty banning interference in state affairs by foreign countries. [CBS]
- South Vietnamese assemblyman Tran Ngoc Chau was retried and his sentence was cut in half, to a 10-year prison term. Chau argued against the predetermined verdict of the military court which found him guilty of pro-Communist activity.
The Communist representative to the Paris Peace Talks accused the United States of major escalation in Laos. Senator Edmund Muskie denounced the Nixon administration's handling of the war and the peace talks.
[CBS] - The Bank of England lowered its prime interest rate to 7.5%. [CBS]
- Former President Lyndon Johnson is not improving as well as hoped; his chest pains have recurred. [CBS]
- Chief Justice Warren Burger is hospitalized with the flu. [CBS]
- Democrats officially named Lawrence O'Brien as party chairman. He inherits the party's fragmentation and debt; O'Brien predicts a dramatic Democrat comeback. [CBS]
- The U.S. gave Turkey $3 million to help Turkish farmers convert from opium to other crops. [CBS]
- Yippie leader Jerry Rubin claims that FBI agents entered his apartment without a warrant; the FBI refused comment. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 787.55 (-0.60, -0.08%)
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 4, 1970 | 788.15 | 90.04 | 11.85 |
| 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 |