News stories from Thursday April 23, 1970

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

The United States is sending captured Soviet arms to Cambodia. Military advisers have told the President that Cambodia may fall if not given help. President Nixon doesn't want U.S. arms and advisers deep in the country and he hopes that other Southeast Asian countries will help. Senator Mike Mansfield opposes all aid to Cambodia; Congress' opposition is strong. [CBS] Cambodians reoccupied Saang today after a Communist pullout. The Viet Cong hit Takeo and cut the railroad from Phnom Penh to the port of Sihanoukville. [CBS] The Paris Peace Talks are fruitless. The Communists may leave and blame the U.S. for not naming a successor to top negotiator Henry Cabot Lodge Jr. [CBS] It was announced that Lt. William Calley's court-martial regarding the My Lai massacre will be delayed for three months. [CBS] President Nixon ended most job and fatherhood draft deferments and asked Congress to end student deferments. Local quotas are now abolished and the draft will be a nationwide call instead. A 20% pay increase is being proposed in order to attract enlistees for the volunteer Army. [CBS] Senator Edward Brooke says that President Nixon stopped improvements in MIRV accuracy in order to alleviate Soviet fears of an American first strike. [CBS] Cuba claims that it smashed a U.S.-backed invasion and that 9 of the 13 invaders were killed or captured. The "Alpha 66" guerrilla group landing party entered Cuba in a pleasure boat. This was one of two groups which landed last week to try to organize an underground anti-Castro army. [CBS] The Trinidad government is negotiating with black power rebels. Loyalist forces have surrounded a rebel-held army base where hostages are being held. [CBS] The Senate Judiciary Committee approved a constitutional amendment to use the national popular vote in presidential elections and abolish the electoral college. Three-fourths of the states must approve the amendment. [CBS] Senator Robert Packwood introduced a bill to legalize abortion nationwide. [CBS] The success of Earth Day success is questionable, though the Earth Day national organization believes that its objectives were reached: creating a permanent organization, reaching Americans regarding ecological problems and promoting increased concern. [CBS] Former billionaire H. Ross Perot lost $600 million in two days and has only $750 million left. [CBS] Republican Party chairman Rogers Morton said that G. Harrold Carswell's Senate race in Florida is foolish and Morton blames Governor Claude Kirk. President Nixon formerly backed Rep. William Cramer, but is now neutral. A tough fight is ahead. [CBS] The National Society for Prevention of Blindness reported 95 eye-damage cases from the recent solar eclipse. It said that warnings kept the number low. [CBS] Senator Edward Kennedy's attorneys say that they want Mary Jo Kopechne's coroners' inquest transcript to be published. [CBS] Walter Reuther was re-elected as United Auto Workers president despite having his first opposition in 21 years. [CBS]

Stock Market Report

Dow Jones Industrial Average: 750.59 (-12.02, -1.58%)
S&P Composite: 83.04 (-1.23, -1.46%)
Arms Index: 1.50

	Issues	Volume*
Advances	200	1.04
Declines	1,189	9.29
Unchanged	209	0.72
Total Volume		11.05

* 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 22, 1970	762.61	84.27	10.78
April 21, 1970	772.51	85.38	8.49
April 20, 1970	775.87	85.83	8.20
April 17, 1970	775.94	85.67	10.99
April 16, 1970	775.87	85.88	10.25
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