News stories from Wednesday May 13, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- U.S. troops fought their biggest battle in Cambodia so far. The North Vietnamese broke through an artillery base perimeter but were repulsed. Many enemy supplies have been captured in Cambodia, and now the largest arms and ammunition depot of the Vietnam war has been seized. Those arms will be used by Cambodians troops against the Communists. [CBS]
- The Senate began debate on Cambodia. The Cooper-Church amendment to cut war funds for that country will be considered. Senator John Stennis says that Congress mustn't tie the President's hands. [CBS]
- Secretary of State William Rogers stated that the U.S. won't directly support Lon Nol's government in Cambodia. [CBS]
- General John Dillard became the sixth American general to die in Vietnam action. [CBS]
- Israel and Egypt exchanged air and artillery strikes. Israeli forces left Lebanon 32 hours after their strike on Arab commando bases there. [CBS]
- Students are protesting in public and in private. 267 colleges are currently on strike, and there has been some violence. Student groups in Washington visited Congress and the Nixon administration.
Duke University law students met with Attorney General John Mitchell and told him that it's not just militants who are dissenting with administration policy. Mitchell says that he is tired of being the administration's bad guy, and he believes that America is now seeing the most widespread college dissent ever. Mitchell added that he thinks some unrest is a good thing because dissent brings change and American society needs some alterations.
[CBS] - Julie and David Eisenhower's undergraduate careers are being cut short by student strikes; they won't attend graduation ceremonies. [CBS]
- The state of Louisiana is showing the beginnings of a method for population control. A program called Family Planning, Inc. provides free birth control pills and IUD's for the poor; government funds and doctors help. The poor are not major contributors to population growth, however. Two-thirds of babies are born to the middle class and the rich. This program, which has helped greatly, can be used in poor countries. Now it must be extended to the non-poor in America. [CBS]
- Senator Edmund Muskie is increasing his efforts to fight air pollution, and he denied that industries influence his legislation. Paper mills are major air and water polluters; the International Paper Company has vowed to spend $10 million over the next four years to fight environmental damage. [CBS]
- Three people were killed and one was wounded in a shooting at a Danville, Illinois, Veterans Administration hospital. The FBI is seeking the shooter, who is a former mental patient. [CBS]
- Los Angeles teachers ended their strike and will return to work tomorrow. [CBS]
- The post office union wants smut mail to be halted, but the ACLU will fight any anti-pornography legislation. [CBS]
- The FTC wants "negative-option" sales plans stopped. It claims that companies which send products without request are out to exploit human weaknesses. [CBS]
- The House passed a 10-year airport improvement program and raised the airline ticket tax from 5% to 8%. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 693.84 (-10.75, -1.53%)
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* |
| May 12, 1970 | 704.59 | 77.85 | 10.85 |
| May 11, 1970 | 710.07 | 78.60 | 6.65 |
| May 8, 1970 | 717.73 | 79.44 | 6.93 |
| May 7, 1970 | 723.07 | 79.83 | 9.53 |
| May 6, 1970 | 718.39 | 79.47 | 14.38 |
| May 5, 1970 | 709.74 | 78.60 | 10.58 |
| May 4, 1970 | 714.56 | 79.37 | 11.45 |
| May 1, 1970 | 733.63 | 81.44 | 8.29 |
| April 30, 1970 | 736.07 | 81.52 | 9.88 |
| April 29, 1970 | 737.39 | 81.81 | 15.80 |