News stories from Thursday August 6, 1970

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

It was reported that the draft call won't pass lottery number 195; this year's total is 163,500, the lowest number since 1964. [CBS] Henry Cabot Lodge hinted that the Pope will help the POW situation in Indochina. [CBS] David Bruce made his first appearance at the Paris Peace Talks as the 78th session met. Communist chief negotiators were not present. [CBS] Communists have held Skoun, Cambodia, despite U.S. air support; Defense Secretary Melvin Laird admitted that tactical air strikes are to protect Cambodian civilians, not Americans. [CBS] West Germany and the Soviet Union have completed their non-aggression pact. [CBS] Secretary of State William Rogers signed an agreement with Spain to keep U.S. military bases there. The five-year contract maintains American bases, but doesn't commit the U.S. to defend Spain. Senator William Fulbright demanded an explanation for the agreement and open hearings; he stated that the matter concerns Congress and the American people and constitutes a vast expense. The administration-Congress split is widening. [CBS] Emilio Colombo is the new Premier of Italy, heading a coalition government. [CBS] Great Britain announced their opposition to the U.S. Army's dumping of nerve gas in the Atlantic Ocean. [CBS] Congress passed the postal reform bill; the post office is now an independent federal agency. Postmaster General Winton Blount said that he is pleased with the post office plan. The bill gives employees an 8% pay raise and should make the post office self-supporting. [CBS] The Senate attempted to reduce the House farm subsidy limit from $55,000 to $20,000 per year. [CBS] Health, Education and Welfare Secretary Elliot Richardson received criticism from Congress regarding the pace of desegregation. Senator Walter Mondale denounced the Nixon administration's inaction on taxing segregated private schools. [CBS] The Justice Department is suing apartment building owner Samuel J. Lefrak for discrimination against Negroes in New York City. [CBS] Ohio Governor James Rhodes has sent the National Guard to Lima, Ohio to quell racial violence there which was sparked by the murder of a black woman. [CBS] Linda Kasabian continued her testimony against Charles Manson in Los Angeles. Manson took notes in court. Co-defendants Patricia Krenwinkle, Susan Atkins and Leslie Van Houten are also charged with the murders, and defense attorneys tried to prove that Kasabian was an accomplice. [CBS] In Barnstable, Mass., Robert Kennedy, Jr. and Sargent Shriver III appeared in court on marijuana charges. The judge said that he would drop the charges if the boys stay out of trouble for one year. [CBS] In Aransas Pass, Texas, many shrimp boats were damaged as a result of Hurricane Celia; 19 boats sunk. Shrimpers have lost the whole season and the town will lose significant revenue. [CBS] The United States dropped the atomic bomb on Hiroshima 25 years ago today; a commemorative ceremony was held in Japan. France celebrated the day with a nuclear explosion in the Pacific. [CBS]

Stock Market Report

Dow Jones Industrial Average: 722.82 (-1.99, -0.27%)
S&P Composite: 77.08 (-0.10, -0.13%)
Arms Index: 1.25

	Issues	Volume*
Advances	474	2.27
Declines	706	4.23
Unchanged	329	1.06
Total Volume		7.56

* 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*
August 5, 1970	724.81	77.18	7.66
August 4, 1970	725.90	77.19	8.31
August 3, 1970	722.96	77.02	7.65
July 31, 1970	734.12	78.05	11.64
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