News stories from Wednesday July 1, 1970

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

The FTC has accused Coca-Cola of deceiving the public with its "Big Name Bingo" game; a secret rule excluded most entries. [CBS] A panel suggested that Boston, Philadelphia, Washington, DC and Miami be the primary centers for the United States' 200th birthday celebration. [CBS] Research may lead to marijuana becoming a prescription drug. University of North Carolina pharmacologists studied the medical uses of marijuana and isolated the effects of THC; it lowers blood pressure and acts as an anti-depressant and pain killer. [CBS] In Rio de Janeiro, Brazil, police captured four hijackers in a dramatic battle. Also, a National Airlines flight from Los Angeles to Miami was forced to Havana, Cuba. [CBS] July 9, 1951 is draft lottery number one. Dates and numbers were drawn from two drums and matched; the selection was completely random. The lowest 120 numbers are to be drafted this year. The August draft call is 10,000, the lowest number of the year. [CBS] South Vietnamese and Cambodian mercenaries are bolstering Phnom Penh against possible Communist attack; they have worked to keep the highway to the port of Kompong Som open. Hanoi called the U.S. withdrawal from Cambodia a trick to mask the continuation of the war. [CBS] President Nixon will discuss the Indochina war with reporters tonight. He will announce a new peace initiative, including a U.S. ambassador to the Paris Peace Talks; the President will stress the desire for negotiation and will consider a coalition government for South Vietnam. [CBS] President Nixon will also comment on the U.S.' Mideast peace proposal. The Soviets have proposed a plan, too; neither plan is being well-received in the Mideast. [CBS] The FBI will investigate a recorded telephone message which urges the assassination of antiwar Senators George McGovern, William Fulbright and Mark Hatfield. The American Nazi Party is responsible for the recording, which calls the Senators "traitors." [CBS] Omaha, Nebraska is using drugs on disruptive pupils. Calming stimulants are used for minor brain-damaged children; doctors run the school drug program. The assistant school superintendent says that the schools are not involved in the prescription or administration of medication. A doctor stated that the drugs are being used to "normalize" children.The FDA is concerned about the program. [CBS]

Stock Market Report

Dow Jones Industrial Average: 687.64 (+4.11, +0.60%)
S&P Composite: 73.04 (+0.32, +0.44%)
Arms Index: 1.25

	Issues	Volume*
Advances	574	3.10
Declines	667	4.49
Unchanged	303	1.03
Total Volume		8.62

* 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*
June 30, 1970	683.53	72.72	9.28
June 29, 1970	682.91	72.89	8.77
June 26, 1970	687.84	73.47	9.16
June 25, 1970	693.59	74.02	8.20
June 24, 1970	692.29	73.97	12.63
June 23, 1970	698.11	74.76	10.79
June 22, 1970	716.11	76.64	8.70
June 19, 1970	720.43	77.05	10.98
June 18, 1970	712.69	76.51	8.87
June 17, 1970	704.68	76.00	9.87