News stories from Thursday April 16, 1970

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

Apollo 13 will splashdown tomorrow. Astronauts are sleeping huddled in the lunar module against exterior temperatures of 450 degrees. Supplies are adequate but the final power thrust is yet to come. Soviet ships are on the splashdown scene; Soviet astronauts sent a message of concern and hope. [CBS] The Soviet Union is reportedly interested in an Indochina peace conference, but has made no specific commitment. [CBS] The U.S. is considering Cambodia's request for arms. Senator Mike Mansfield opposes American aid and stated that Cambodians may be slaughtering Vietnamese residents; victims are still floating down the Mekong River. The Cambodian government claims the bodies are Viet Cong. [CBS] Phase II of the Strategic Arms Limitation Talks began in Vienna. U.S. Ambassador Gerard Smith said that more specific proposals will be discussed. Soviet Minister Vladimir Semyonov says that he hopes for meaningful, positive results. The talks should last until June. [CBS] Asst. Secretary of State Joseph Sisco canceled his visit to Jordan and is currently in Israel; Amman is still the scene of anti-American demonstrations. Yesterday's protest was against the U.S. Embassy, where 12,000 demonstrators overpowered the police, lowered the American flag, destroyed cars and burned the United States Information Service library. [CBS] Seventy-two people may be dead as the result of an avalanche in France. [CBS] The House passed President Nixon's welfare reform bill which provides income supplements for the poor. [CBS] The Commerce Department reported 5% inflation during the first quarter of 1970 while industrial production was down 1.5%. [CBS] President Nixon dropped his request for incorporating the Post Office and lowered his postage rate increase proposal. He is asking for built-in safeguards against political pressure, and for the Post Office to be an executive branch office (but not at the cabinet level) and for more self-management. An 8% pay raise and an eight-cent first class mailing rate are being sought. [CBS] Anti-William O. Douglas congressmen want an investigation by the conservative House Rules Committee. Douglas' supporters proposed an impeachment resolution before the Judiciary Committee instead. Justice Douglas remains silent on the impeachment proceedings against him, but is not worried though he is not certain of the charges. [CBS] The Justice Department issued a summary on Supreme Court nominee Harry Blackmun's finances and opinions which shows that he ruled in three cases concerning firms in which he held stock. The judge's net worth is $125,000. Blackmun seems to be qualified, but the Senate will not be satisfied without a full investigation. The Senate is trying to fill a Supreme Court seat, while the House is doing the opposite by considering the impeachment of Justice Douglas. The required two-thirds Senate vote for impeachment has never been attained. [CBS]

Stock Market Report

Dow Jones Industrial Average: 775.87 (-6.73, -0.86%)
S&P Composite: 85.88 (-0.85, -0.98%)
Arms Index: 1.98

	Issues	Volume*
Advances	350	1.46
Declines	940	7.76
Unchanged	285	1.04
Total Volume		10.26

* 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
Date	DJIA	S&P	Volume*
April 15, 1970	782.60	86.73	9.41
April 14, 1970	780.56	86.89	10.84
April 13, 1970	785.90	87.64	8.81
April 10, 1970	790.46	88.24	10.02
April 9, 1970	792.50	88.53	9.06
April 8, 1970	791.64	88.49	9.07
April 7, 1970	791.64	88.52	8.49
April 6, 1970	791.18	88.76	8.38
April 3, 1970	791.84	89.39	9.92
April 2, 1970	792.37	89.79	10.52