News stories from Thursday August 20, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Communists seized Prek Tamak, Cambodia, seven miles from Phnom Penh. [CBS]
- U.S. negotiator David Bruce boycotted today's session of the Paris Peace Talks; North Vietnamese negotiator Xuan Thuy will return later in August or in September. [CBS]
- President Nixon received a warm welcome today on his goodwill trip to Mexico. Nixon is seeking more help to stop marijuana traffic; Mexican President Gustavo Diaz Ordaz wants more American money and trade. Border disputes were also discussed. [CBS]
- King Hussein of Jordan and United Arab Republic President Gamal Abdel Nasser discussed peace talks and Arab guerrillas; Israel wants the talks to be held near the Mideast, but the Arabs want talks in New York City. [CBS]
- Alger Hiss was imprisoned for perjury in the 1950's and served 3½ years; now he is challenging the constitutionality of the Hiss Act which denies government pensions to employees convicted of certain crimes. As a Senator, Richard Nixon was responsible for Hiss' conviction. Hiss still claims to be innocent. [CBS]
- Democrat party chairman Lawrence O'Brien said that the Federal Communications Commission stopped CBS' "Loyal Opposition" series because of its liberal views; CBS and O'Brien are contesting the FCC's ruling. [CBS]
- The Pentagon is finally admitting that there is a drug problem in the military. Dep. Assistant Defense Secretary William Mack said that drug abuse is serious but doesn't endanger military readiness. A Defense Department lawyer blamed Thomas Dodd's Senate committee for distorting facts regarding the military drug problem. Dodd says that if the Pentagon hadn't lied, the facts wouldn't be distorted. [CBS]
- A Senate committee has approved a bill which requires non-polluting cars by 1975. President Nixon and the auto industry say it's impossible to achieve that goal before 1980; Senator Edmund Muskie says it must be made possible. [CBS]
- The Campus Unrest Commission heard more Kent State University-National Guard testimony. National Guard General Robert Canterbury said that no order to fire was given; students charged the National Guard and the men fired in self-defense. Canterbury said that grenades and rocks are both deadly, and he stated that commission members would have fired too if they had been attacked. [CBS]
- New Penn Central railroad president William Moore will get $165,000 per year salary for five years, despite Penn Central's bankruptcy. [CBS]
- A windstorm killed four people in Sudbury, Ontario. [CBS]
- A Berkeley policeman was killed by a sniper; Fort Lauderdale police are cracking down after six nights of racial violence; a Chicago detective was killed by a sniper.
Chicago detective James Alfano was shot one week ago and died Sunday; four street gang members have been charged with the slaying. Alfano is the fourth Chicago cop to be killed in the last two months. The Chicago police superintendent has called for federal gun control legislation. Many bills are in Congress, but gun lobbies including the National Rifle Association are strong. The NRA is the major voice against legislation; the names of Congressmen who support gun control bills are published in the NRA magazine.
A federal law requiring purchase forms helped trace a murder weapon to Angela Davis, who is now on the FBI's "Most Wanted List."
[CBS] - An article in Life magazine charges Senator Joseph Tydings with using his office to promote personal real estate deals; Tydings denies it. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 729.60 (+5.61, +0.77%)
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 19, 1970 | 723.99 | 76.96 | 9.87 |
| August 18, 1970 | 716.66 | 76.20 | 9.50 |
| August 17, 1970 | 709.06 | 75.33 | 6.94 |
| August 14, 1970 | 710.84 | 75.18 | 7.85 |
| August 13, 1970 | 707.35 | 74.76 | 8.64 |
| August 12, 1970 | 710.64 | 75.42 | 7.44 |
| August 11, 1970 | 712.55 | 75.82 | 7.33 |
| August 10, 1970 | 713.92 | 76.20 | 7.58 |
| August 7, 1970 | 725.70 | 77.28 | 9.37 |
| August 6, 1970 | 722.82 | 77.08 | 7.56 |