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Thursday March 12, 1970
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News stories from Thursday March 12, 1970


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

  • There have been 16 bombings in New York City since November; three more explosions occurred today. Bombs rocked the Mobil Oil, General Phone & Electronics and IBM buildings. UPI received a letter from "Revolutionary Force 9" claiming credit and explaining that the blasts were an action taken against imperialism. A rash of bomb scares followed the explosions but a threat against the Justice Department in Washington proved to be false. [CBS]
  • The Senate approved lowering the voting age to 18 for national, state and local elections, but House opposition is formidable. House Judiciary Committee chairman Emanuel Celler called adolescents too passionate and easily swayed to vote. [CBS]
  • President Nixon named Air Force Assistant Secretary Curtis Tarr as draft director. [CBS]
  • Laotian President Phouma wants peace talks and no halt to U.S. bombing until North Vietnam withdraws; 65,000 North Vietnamese troops are in Laos. [CBS]
  • The first-ever meeting between East and West German leaders is scheduled for next week. [CBS]
  • A group of lawyers in Washington, DC held a news conference to urge the rejection of G. Harrold Carswell's nomination to the Supreme Court; Yale and Harvard Law School deans denounced Carswell. No southern schools were represented. [CBS]
  • Senate Republican Leader Hugh Scott called for an unequivocal statement by the President on racial justice, and condemned the ambiguity of previous statements. [CBS]
  • President Nixon announced a reorganization of the administration. The Domestic Affairs Council will decide what we do; the Office of Management and Budget will decide how and how well we do it. The changes will take effect July 1. [CBS]
  • A House committee approved President Nixon's plan to make the Post Office a government-owned corporation and to give postal workers a 5.4% pay raise. [CBS]
  • Senator William Proxmire wants to audit Lockheed Aircraft to determine that company's need for federal aid pertaining to the C-5A crisis. [CBS]
  • Interior Secretary Walter Hickel surveyed the damage from the oil spill in the Gulf of Mexico. From 600 to 1,000 barrels of oil per day are leaking into the Gulf, and oil has begun to reach a wildlife refuge. Hickel called the disaster worse than the spill at Santa Barbara. [CBS]
  • Senator Barry Goldwater declared that the greatest threat to freedom of the press is the media's biased attitude. [CBS]


Stock Market Report

Dow Jones Industrial Average: 776.47 (-1.65, -0.21%)
S&P Composite: 88.33 (-0.36, -0.41%)
Arms Index: 1.25

IssuesVolume*
Advances4132.19
Declines8695.75
Unchanged2971.21
Total Volume9.15
* 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 11, 1970778.1288.699.18
March 10, 1970779.7088.759.45
March 9, 1970778.3188.519.76
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


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