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Monday June 8, 1970
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News stories from Monday June 8, 1970


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

  • The Indochina fact-finding contingent is in Honolulu on the way back from Southeast Asia. White House communications director Herb Klein reports that much information was gathered. [CBS]
  • The military in Indochina was prepared for their VIP visitors. In Cambodia, soldiers cleaned a hill and themselves; they stated that resent showing a false image to visitors. The VIP's received a military briefing and a captured souvenir, and the Air Force ran a practice air strike. The visitors inspected captured bunkers after the holes were restocked with weapons in order to give the appearance of realism. Soldiers complained about "playing games" for VIP's and said that the Army is creating a false image; Senator George Murphy said that the soldiers are doing a great job. [CBS]
  • Cambodians drove the Communists back from Kompong Thom and Siem Reap. The allies still haven't captured the long-sought Communist headquarters in Cambodia. [CBS]
  • Communists attacked a government outpost in Laos. [CBS]
  • Senator Mike Mansfield wants the U.S. to stop financing the Thai army; he calls it "greenbacking".

    The U.S. is paying Thai troops $50 million for fighting against the Communists in South Vietnam. The Pentagon suppressed a report on payments to Thailand and South Korea. There is no information on the effectiveness of the Thai military. [CBS]

  • Argentine generals ousted President Juan Ongania and promised to install a new leader within 10 days; the President has barricaded himself in the palace. [CBS]
  • Jordanian guerrillas kidnapped chief U.S. political officer Morris Draper, then released him unharmed. [CBS]
  • Robert Finch would have preferred a delay in changing jobs, but the former Health, Education and Welfare Secretary is now the President's counsel. Finch stated that he alone can't liberalize government policy, but he is satisfied with his record. Finch still has political aspirations. [CBS]
  • Eight White House aides ended their campus tour and reported widespread student distrust of President Nixon; the students also blame Vice President Agnew and the insensitivity of the Nixon administration. [CBS]
  • An Ohio county judge enjoined eight defendants from interfering in the operation of Ohio State University; the students wanted $1 million as compensation for delays in their education caused by campus disorders. [CBS]
  • Boston councilwoman and anti-busing advocate Louise Day Hicks announced that she will run for Congress. [CBS]
  • The Olin Chemical Corporation announced that it won't produce any more DDT; ecologists wanted the company to be closed because of its polluting. Olin's Huntsville, Alabama, plant formerly made 25 million pounds of DDT per year, and put DDT into the Tennessee River. The U.S. Army, which is Olin's landlord, ignored a ruling limiting DDT in waste water. The corporation is ending its DDT business in order to help the environment. [CBS]
  • Secretary of the Interior Walter Hickel is delaying the construction of a Florida canal for 15 months; ecologists oppose the canal. [CBS]
  • The Air Force denied that the Rockwell Corporation was the highest bidder for the B-1 bomber contract. After Rockwell got the contract, CBS reported that the company was the highest, least-qualified bidder. The Pentagon reports that Rockwell was in fact the lowest bidder and the best choice. [CBS]
  • Muhammad Ali's attorneys tried to set up a bout in Canada, but Ali is confined to the U.S. while out of jail on bond for draft evasion. Ali says that he knows nothing about the proposed Canadian fight; he may fire his lawyers. [CBS]
  • Seven Green Berets were killed and five were wounded in a demolition range explosion. [CBS]
  • President Nixon has given Peru $10 million and appointed Robert Finch to administer the aid; at least 50,000 people have been killed by the May 31 earthquake and subsequent floods and mudslides; many survivors still can't be reached. In Huaraz, thousands of people were killed in one minute. The hospital is intact, though; supplies are being flown in and victims flown out. [CBS]


Stock Market Report

Dow Jones Industrial Average: 700.23 (+5.20, +0.75%)
S&P Composite: 76.29 (+0.12, +0.16%)
Arms Index: 0.96

IssuesVolume*
Advances6693.80
Declines5893.21
Unchanged2741.03
Total Volume8.04
* 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
DateDJIAS&PVolume*
June 5, 1970695.0376.1712.45
June 4, 1970706.5377.3614.38
June 3, 1970713.8678.5216.60
June 2, 1970709.6177.8413.48
June 1, 1970710.3677.8415.02
May 29, 1970700.4476.5514.63
May 28, 1970684.1574.6118.91
May 27, 1970663.2072.7717.46
May 26, 1970631.1669.2917.03
May 25, 1970641.3670.2512.66


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