News stories from Wednesday October 7, 1970

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

President Nixon's new peace plan for Indochina may include a cease-fire, increased troop withdrawals and an international peace conference for Southeast Asia; the Cambodian ambassador says that a cease-fire is unacceptable unless Communists get out of the country.North Vietnam rejected a cease-fire previously. [CBS] Former French President Charles DeGaulle says that he warned John F. Kennedy that involvement in Vietnam would be endless. [CBS] North Vietnam used nausea gas on Cambodians, killing civilians. [CBS] Military money has doubled in value due to South Vietnam's devaluation of its currency. [CBS] Left-wing general Juan Jose Torres now heads the Bolivian government; he is the third leader of the government in the last three days. [CBS] The United Arab Republic's National Assembly has nominated Anwar Sadat to be President; Sadat is expected to win a national referendum. [CBS] The president of Lebanon has appointed pro-UAR legislator Saeb Salam as Premier. [CBS] French President George Pompidou met with Soviet Premier Alexei Kosygin in Moscow; the two leaders may sign a economic treaty. [CBS] President Nixon is seeking laws against oceanic pollution. The Coast Guard would enforce the proposed legislation prohibiting dumping without a federal permit or dumping harmful materials, and would impose fines of up to $50,000. The dumping of explosives or poison gas would be prohibited by the new plan. [CBS] The Federal Highway Safety Board proposed stiff laws against chronic drunken drivers. [CBS] President Nixon appointed Dr. Elburt Osborn as director of the U.S. Bureau of Mines. [CBS] The House passed President Nixon's anti-crime bill aimed at organized crime and campus bombers; it gives judges the right to give professional criminals an extra 25-year sentence and suspend the right to evidence and trial by jury. [CBS] French-Canadian secessionists extended their deadline for demands to be met before they kill British diplomat James Cross; Cross' letter urged the government pay $500,000 ransom, free political prisoners and grant the kidnappers free passage out of the country. [CBS] Ricardo Morton was arrested trying to board a Los Angeles flight with a 13-inch knife and a sawed-off shotgun; a metal detector found the knife. [CBS] The International Pilots Association wants the right to boycott airports that don't meet anti-hijack standards; pilots also want bulletproof doors on cockpits. [CBS] The FAA stated that the J. Richards Aircraft Company plane that crashed in Colorado didn't have a permit to carry passengers; company owner Jack Richards says that his company's planes are certified and in good shape. [CBS] President Nixon signed the $5.2 billion public works bill but said there is too much pork in the barrel. [CBS] The President will rest in Florida over the weekend. [CBS] United Auto Workers president Leonard Woodcock reported that negotiations with General Motors will resume on Friday; the strike is 23 days old. [CBS] U.S. Communist Party leader Gus Hall says he was glad about winning $500 in the New York state lottery, but that doesn't make him a capitalist. [CBS]

Stock Market Report

Dow Jones Industrial Average: 783.68 (+1.23, +0.16%)
S&P Composite: 86.89 (+0.04, +0.05%)
Arms Index: 0.74

	Issues	Volume*
Advances	630	7.67
Declines	674	6.09
Unchanged	307	1.86
Total Volume		15.62

* 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*
October 6, 1970	782.45	86.85	20.24
October 5, 1970	776.70	86.47	19.76
October 2, 1970	766.16	85.16	15.42
October 1, 1970	760.68	84.32	9.70
September 30, 1970	760.68	84.21	14.83
September 29, 1970	760.88	84.30	17.88
September 28, 1970	758.97	83.86	14.39
September 25, 1970	761.77	83.97	20.47
September 24, 1970	759.31	83.91	21.34
September 23, 1970	754.38	82.83	16.94