News stories from Friday May 22, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Arab guerrillas ambushed an Israeli school bus near the Lebanese border, killing 11. Three bazooka shells hit the bus, killing or maiming 33 children and teachers. The incident is a national tragedy, sparking grief and calls for vengeance. Lebanon reports that Israel shelled four towns after the incident and killed 11. New York City gangs, believed to be Jewish militants, clubbed pro-Arab organization members and shouted "an eye for an eye". [CBS]
- Israeli Foreign Minister Abba Eban met with President Nixon and asked for more planes; no decision has been made yet. [CBS]
- Two weeks ago President Nixon reported that South Vietnam would leave Cambodia at the same time as the United States. Now Defense Secretary Melvin Laird and White House press secretary Ron Ziegler both stated that they want South Vietnamese troops to be free to stay after U.S. forces leave. Ziegler hinted that American logistical support may stay with South Vietnam. It appears that the South Vietnamese military will remain in Cambodia as long as it deems necessary. [CBS]
- Senator Hugh Scott reported that the revised amendment regarding the Cambodian invasion is still opposed by the White House because the bill would tie the President's hands. [CBS]
- American helicopters killed nine South Vietnamese marines by mistake. There was light fighting today though some allied forces met heavy enemy resistance in Cambodia. Morale is low and tensions are high. [CBS]
- Saigon reported that a high Communist official has defected. He had been studying ways to undermine the South Vietnamese economy. [CBS]
- Vice President Spiro Agnew denied that President Nixon has placed a curb on criticism of students and the media. Agnew will speak in Houston tonight and intends to say that college hellraisers should be expelled. Agnew called reporters irresponsible and said that he won't soften his words. [CBS]
- 1,300 National Guardsmen and highway patrolmen were put on alert for the funeral of a Jackson State College shooting victim. 100 politicians are currently in Jackson to investigate the police killing of two black students. Senator Charles Percy vows that justice will be done. 2,000 people attended the dead high school student's funeral. Fayette Mayor Charles Evers said that he wants racism and hatred ended. [CBS]
- Chicago state's attorney Edward Hanrahan reassigned the assistant state's attorneys and policemen who were criticized by a federal grand jury report on the Black Panther raid. [CBS]
- The Washington Star reported that H. Rap Brown is in Algeria to escape his trial for murder and arson in Maryland. [CBS]
- The English Cricket Council canceled the tour of the South African team, fearing British violence toward the visitors' racial views. [CBS]
- A human germ survived on the moon for 32 months, and it is alive and well in a NASA laboratory. [CBS]
- Leonard Woodcock was named to succeed Walter Reuther as president of the United Auto Workers. [CBS]
- General Motors chairman James Roche reported good corporate progress even as the dissident "Campaign GM" sought changes for the good of the environment.
2,500 people attended the General Motors stockholders' meeting in Detroit, and Campaign GM members tried to convince the stockholders to join the environmental movement. They were soundly defeated this time, but they have begun the corporate dissent movement to protest General Motors' pollution and discrimination. A Campaign GM member said that they picked General Motors because it's the biggest American business. Campaign GM's Betty Furness claimed that General Motors has taken major action against ecologists' moves.
[CBS] - Senate Post Office Committee chairman Gale McGee reported an agreement on a postal reform bill between the Senate and the administration. First class mail will cost 8 cents, there will be an 8% employee pay raise and the Postmaster General will not be a cabinet-level position. [CBS]
- Health, Education and Welfare Secretary Robert Finch was released from the hospital, but still needs rest. [CBS]
- Former California Governor Goodwin Knight died. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 662.17 (-3.08, -0.46%)
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 21, 1970 | 665.25 | 72.16 | 16.71 |
| May 20, 1970 | 676.55 | 73.52 | 13.02 |
| May 19, 1970 | 691.40 | 75.46 | 9.48 |
| May 18, 1970 | 702.81 | 76.96 | 8.28 |
| May 15, 1970 | 702.22 | 76.90 | 14.57 |
| May 14, 1970 | 684.79 | 75.44 | 13.92 |
| May 13, 1970 | 693.84 | 76.53 | 10.72 |
| 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 |