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Monday March 9, 1970
. . . where the 1970s live forever!

News stories from Monday March 9, 1970


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

  • The Pathet Lao offered to negotiate a peace settlement with the Royal Laotian government. It is the first detailed proposal from the Communists, who are likely to demand complete U.S. withdrawal from Laos. [CBS]
  • South Vietnamese President Nguyen Van Thieu stated that Communist China will take over all of Southeast Asia unless the U.S. presence remains in that part of the world. [CBS]
  • Attempts to extinguish the offshore oil blaze in the Gulf of Mexico have failed. [CBS]
  • The U.S. and Mexico made a pact to slow drug traffic. Under the agreement, the U.S. will provide $1 million to furnish equipment and training for the destruction of marijuana fields in Mexico. [CBS]
  • The American consulate in Rhodesia will close, as the white supremacy government has severed ties with Britain. The United States continues to recognize Britain as the lawful sovereign in Rhodesia. [CBS]
  • The administration is seeking legislation allowing the fingerprinting of suspects before charging them. A court order would be required, to be used when there are reasonable grounds for suspicion, but not probable cause for arrest. [CBS]
  • There was a loud but peaceful demonstration outside the Bel Air, Maryland, courthouse where H. Rap Brown is being tried for inciting a 1967 riot in Cambridge, Maryland. [CBS]
  • The Isla Vista, California, branch of Bank America, which was burned on February 25, has reopened a temporary office. The Berkeley branch has been bricked up in order to prevent arson. Violent and non-violent anti-Bank of America protests continue, as the bank is considered to be a symbol of American capitalism. [CBS]
  • The Pentagon confirmed Lockheed's financial need, but is withholding decision on the company's request for $641 million. Deputy Defense Secretary David Packard claims that the C-5A deficit alone will soon increase by $30-40 million per month. [CBS]
  • The U.S. Army charged Sgt. William Higdon with bribery, larceny and graft pertaining to his operating a U.S. servicemen's club in Vietnam. He is the first man formally accused in the Congress-Pentagon investigation. [CBS]
  • The Supreme Court upheld an Alabama court ban of union pickets on private business property. The Court also ordered immediate adoption of a new Memphis school desegregation plan. [CBS]
  • Wholesale prices rose 0.3% last month. [CBS]
  • A presidential task force is examining the effect of U.S. aid to poor countries. A new plan separates military aid from economic aid and adds more international departments. The task force's report recognizes the need for involving private industry and allowing for political instability. The spread of democracy with American dollars is seen as a long-range goal, not present reality. [CBS]
  • According to an adminstration report, the number of Americans killed in ground action in Laos was 0 on Friday, 26 on Sunday and less than 50 today. [CBS]


Stock Market Report

Dow Jones Industrial Average: 778.31 (-5.81, -0.74%)
S&P Composite: 88.51 (-0.93, -1.04%)
Arms Index: 1.86

IssuesVolume*
Advances3931.62
Declines9447.25
Unchanged2340.90
Total Volume9.77
* 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
DateDJIAS&PVolume*
March 6, 1970784.1289.4410.98
March 5, 1970787.5590.0011.37
March 4, 1970788.1590.0411.85
March 3, 1970787.4290.2311.70
March 2, 1970780.2389.7112.27
February 27, 1970777.5989.5012.89
February 26, 1970764.4588.9011.54
February 25, 1970768.2889.3513.21
February 24, 1970754.4287.9910.81
February 20, 1970757.4688.0310.79


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