News stories from Friday July 31, 1970

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

Israel has cautiously accepted the U.S. peace plan for the Mideast. At San Clemente, President Nixon reported that Israel's acceptance is just the first step, but a cease-fire is an essential start. The White House is uncertain that either side will halt their military build-up during the cease-fire. [CBS] Gahal party member Menachem Begin reports that his party will meet and may withdraw from the Israeli government in protest against acceptance of the U.S. peace plan and the cease-fire.United Nations Ambassador Gunnar Jarring will begin the peace talks next week. [CBS] South Vietnam President Nguyen Van Thieu stated that he won't accept a coalition government or a cease-fire. [CBS] Desegregation officials in the South were said to be confused by President Nixon's news conference. The President stated that the federal government won't force integration unless states ask for help; but Attorney General John Mitchell has vowed to force desegregation. The administration denies that there has been any change in policy, and claims that Nixon's and Mitchell's statements do not conflict. Justice Department officials are also confused. [CBS] The House opened hearings on the Army nerve gas shipment; transportation of the gas is delayed in the meantime. [CBS] The FDA warned that some Vi-Jon Castor Oil bottles contain turpentine. [CBS] Labor Secretary James Hodgson said that firms dealing with the federal government must set timetables for ending discrimination against women. [CBS] General Earl Cole's rank has been reduced to colonel and he is being retired from the Army for failing to maintain integrity while supervising servicemen's clubs in Vietnam. [CBS] An Interstate Commerce Commission secretary admitted accepting favors from industry groups and falsifying records; he will resign on Monday. [CBS] An appeals court has postponed Charles Watson's extradition from Texas to California to face murder charges in the Tate-LaBianca case. In Los Angeles, defense attorney Paul Fitzgerald cross-examined Linda Kasabian; she described her life as a hippie, and stated that she once worshipped Manson as a second Messiah. Sharon Tate's father has attended every hearing. [CBS] Undercover police agent Tommy the Traveler (Thomas Tongyai) reportedly collected New York unemployment under the alias Maxwell Smart. [CBS] Terrorists in Uruguay have kidnapped two United States embassy aides and a Brazilian diplomat; they want political prisoners to be released. [CBS] The Red Cross clarified their Peru aid report, now saying that total United States sources gave $16 million to earthquake victims; the USSR and China gave less. [CBS] The Attorney General of New York is suing John F. Kennedy International Airport for pollution. President Nixon proposes that the government develop the nearby recreation area.The Jamaica Wildlife Refuge lies across the bay from Kennedy Airport. The airport is expanding, and the only place to spread is on Jamaica Bay. A federal government team is studying the impact of expansion on the local ecology, but Mayor John Lindsay says that he will block any plans that endanger the bay. [CBS] Chet Huntley retires from NBC News tonight. [CBS]

Stock Market Report

Dow Jones Industrial Average: 734.12 (-0.61, -0.08%)
S&P Composite: 78.05 (-0.02, -0.03%)
Arms Index: 1.39

	Issues	Volume*
Advances	644	4.26
Declines	617	5.67
Unchanged	296	1.72
Total Volume		11.65

* 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*
July 30, 1970	734.73	78.07	10.43
July 29, 1970	735.56	78.04	12.58
July 28, 1970	731.45	77.77	9.04
July 27, 1970	730.08	77.65	7.46
July 24, 1970	730.22	77.82	9.52
July 23, 1970	732.68	78.00	12.46
July 22, 1970	724.67	77.03	12.46
July 21, 1970	722.07	76.98	9.94
July 20, 1970	733.91	77.72	11.66
July 17, 1970	735.08	77.69	13.87