News stories from Wednesday March 18, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Prince Norodom Sihanouk of Cambodia was deposed while he was visiting Moscow. Right-wing generals claim that the former leader is pro-Communist. Sihanouk said that there is no need for a coup -- he'll go voluntarily if necessary. Sihanouk then left Moscow for Peking. The Soviet Premier was quoted as saying that Cambodia's anti-Communist drive may lead to war with North Vietnam. [CBS]
- The hijacked U.S. freighter Columbia Eagle is still in Cambodian custody, with 24 crewmen detained on a rescue ship. [CBS]
- In Laos, the U.S.-operated Sam Thong supply base fell into Communist hands. [CBS]
- General William Knowlton replaced the accused General Samuel Koster as West Point superintendent. Cadets paid their respects today to the departing Koster, who was one of the academy's most popular superintendents. [CBS]
- The U.N. General Assembly ordered its members to sever relations and stop all transportation with Rhodesia. Portugal and South Africa ignored the directive. [CBS]
- Federal Reserve system board chairman Arthur Burns announced that there will be a decline in interest rates by year end. [CBS]
- A federal grand jury indicted U.S. Steel management for solid waste pollution of Lake Michigan by their Chicago plant; a different U.S. Steel plant was sued in Indiana earlier. [CBS]
- The Transportation Department ordered inflatable collision bags to replace seat belts in 1972 model year cars. [CBS]
- Sixty-three cattle were killed on a Black Muslim farm in Alabama. Muslims moved the remainder to a black-controlled Alabama county but the Ku Klux Klan will still box the Muslims in. [CBS]
- Judge Harry Dyer ordered that H. Rap Brown's trial be moved to from Bel Air to Ellicott City, Maryland. [CBS]
- United Mine Workers president Tony Boyle spoke to the Senate Labor Committee and denied all charges made by Joseph Yablonski's sons regarding the murder of their father. [CBS]
- The U.S. Judicial Conference under Warren Burger relaxed the financial disclosure rule for judges. The ban on out-of-court work for pay was dropped in November with no explanation. [CBS]
- Opponents of judge G. Harrold Carswell criticized Carswell's failure to tell the Senate Judiciary Committee that judge Elbert Tuttle withdrew his endorsement. Judge John Wisdom also opposes Carswell's confirmation to the Supreme Court. [CBS]
- The Nixon administration's policies have caused resignations in the civil rights divisions of the Department of Health, Education and Welfare and the Justice Department. Today three top lawyers in the Office of the Solicitor resigned, stating that President Nixon's civil rights policy was a factor. [CBS]
- Eastern, United and TWA pilots are demanding anti-hijacking measures, and say that they won't fly unless a Washington meeting yields results. [CBS]
- A Florida appeals court overturned a housing code requirement for hot water in slum dwellings. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 767.95 (+0.53, +0.07%)
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 17, 1970 | 767.42 | 87.29 | 9.09 |
| March 16, 1970 | 765.05 | 86.91 | 8.91 |
| March 13, 1970 | 772.11 | 87.86 | 9.56 |
| March 12, 1970 | 776.47 | 88.33 | 9.14 |
| March 11, 1970 | 778.12 | 88.69 | 9.18 |
| March 10, 1970 | 779.70 | 88.75 | 9.45 |
| March 9, 1970 | 778.31 | 88.51 | 9.76 |
| March 6, 1970 | 784.12 | 89.44 | 10.98 |
| March 5, 1970 | 787.55 | 90.00 | 11.37 |
| March 4, 1970 | 788.15 | 90.04 | 11.85 |