News stories from Tuesday June 16, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon's economy speech is tomorrow. The President will announce that he is appointing a commission to study inflation; the commission will have no wage and price control power. Democrats' economic views differ.
Democrats urge a national unemployment conference, and they want credit to be controlled, and wage and price guidelines. Senator Mike Mansfield says that the Nixon administration should decrease unemployment and inflation. Democratic party chairman Lawrence O'Brien complained that President Nixon's economic policy is too weak.
[CBS] - President Nixon has appointed Harvard student Joseph Rhodes to the campus unrest study commission, but Vice President Spiro Agnew wants Rhodes' resignation. Rhodes is an outstanding scholar who believes that the national leadership is mediocre and that Agnew's comments are tragic mistakes. Nixon disagrees with Agnew and wants Rhodes on the commission. [CBS]
- Allied troops entered Kompong Speu, Cambodia, but the Communists escaped. The South Vietnamese were reported to be looting the town, but the troops claimed they were searching for Viet Cong. [CBS]
- Over 20 reporters have been captured in Cambodia; three were released in Saigon today: Richard Dudman of the St. Louis Post Dispatch; Elizabeth Pond of the Christian Science Monitor, and Michael Morrow of Dispatch International. The men reported receiving rough treatment at first, but were well-treated later. There is no word on the other missing journalists. [CBS]
- Senator Mike Mansfield charges that anti-Cambodian invasion legislature is being stalled; Senator Norris Cotton says that the debate is blocking action on the $4½ billion education bill.
Senator Mark Hatfield stated that he sympathizes with the Palestinian refugees, and Mideast arms balance won't bring peace.
[CBS] - Israeli forces attacked Syria near Damascus. [CBS]
- Draft director Curtis Tarr reported that a new draft lottery will be held on July 1. Local boards will determine the sincerity of conscientious objectors; college philosophers have an advantage over uneducated men. [CBS]
- U.N. Secretary General U Thant wants the major powers including Red China to hold periodic anti-war meetings. [CBS]
- Soviet author Aleksandr Solzhenitsyn claims that the Kremlin puts non-Communist writers in mental institutions to silence them; Solzhenitsyn's popularity spares him from that fate. [CBS]
- The captors of West German ambassador Ehrenfried Holleben have threatened to kill him unless Rio de Janeiro street patrols are relaxed; Brazil has already agreed to free 40 political prisoners. [CBS]
- Charles Manson's trial began today in Los Angeles; jury selection has started. Manson and three girls are on trial for murder and conspiracy; 11 jurors have been dismissed. Manson tried a hypnotic stare on jurors but no other coutroom dramatics. Defense attorneys disagree on strategy and feel that Manson has already been convicted in the eyes of the public. [CBS]
- National Education Association president George Fischer charged that Nixon administration policy encourages southern racism, and he doesn't believe that 90% of southern schools will be integrated by the fall. [CBS]
- The House allocated $120 million per year to provide free milk to schools. [CBS]
- The National Labor Relations Board has taken jurisdiction over university labor disputes, saying that colleges are a big business. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 706.26 (+18.90, +2.75%)
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* |
| June 15, 1970 | 687.36 | 74.38 | 6.92 |
| June 12, 1970 | 684.21 | 74.21 | 8.89 |
| June 11, 1970 | 684.42 | 74.45 | 7.77 |
| June 10, 1970 | 694.35 | 75.48 | 7.24 |
| June 9, 1970 | 700.16 | 76.25 | 7.05 |
| June 8, 1970 | 700.23 | 76.29 | 8.04 |
| June 5, 1970 | 695.03 | 76.17 | 12.45 |
| June 4, 1970 | 706.53 | 77.36 | 14.38 |
| June 3, 1970 | 713.86 | 78.52 | 16.60 |
| June 2, 1970 | 709.61 | 77.84 | 13.48 |