News stories from Friday October 9, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Secretary of State William Rogers spoke about the Indochina peace plan and Mideast intervention by the Soviets. Rogers said that there will be no Americans in combat in Vietnam by May 1 of next year, and he hopes the Communists accept the cease-fire. Rogers stated that the U.S. has proof that the Soviets violated the Mideast cease-fire. [CBS]
- Senator Barry Goldwater predicted that there will be a cease-fire in Vietnam within 10 days; Goldwater believes that President Nixon wouldn't have announced a plan without prior agreement from the Communists. [CBS]
- South Vietnam President Nguyen Van Thieu praised President Nixon's peace plan. Combat in Vietnam has slacked off; soldiers are relaxing and combat patrols are finding no action. [CBS]
- North Vietnamese troops attacked Cambodians but U.S. planes drove the Communists off; the Cambodian government is celebrating its new status as a republic. [CBS]
- New Bolivian leader Juan Jose Torres has appointed a 17-man cabinet designed in order to appease his right-wing opposition. Chaos reigned on Sunday as generals sought power, with leftist General Torres forcing a 3-man junta out of power. Students and workers freed political prisoners. Torres vowed that his government would be socialist. [CBS]
- The Soviet paper Izvestia denied that the USSR is building a submarine base in Cuba. [CBS]
- Three West Germans got 2-4 year prison sentences for stealing a U.S. Sidewinder missile and selling it to the Soviets; they said that the theft was easy. [CBS]
- The Soviet Union charged that Alexander Solzhenitsyn got his Nobel Prize in Literature because of politics, not talent. [CBS]
- Canada won't negotiate for the release of British diplomat James Cross until the kidnappers prove he's alive. [CBS]
- President Nixon ordered the FBI to join the hunt for yesterday's terrorist bombers and said that the U.S. needs anti-bombing legislation quickly. [CBS]
- A federal judge dismissed bribery charges against former Senator Daniel Brewster due to Brewster's Congressional immunity; he was charged with taking a bribe from the Spiegel mail-order house to help lower their postage rates; the judge urged the Supreme Court to rule on the case. [CBS]
- The FTC wants a rule to require that automobile sticker prices be within 3% of the actual dealer cost. [CBS]
- Ford raised their car prices an average of $14 per car. [CBS]
- The United Auto Workers and General Motors are bargaining for an end to the strike; strikers are beginning to hurt.
Strikers receive benefits, but not enough to live on; 6,000 have applied for food stamps. The UAW is demanding a raise this year and unlimited cost of living increases in the future. GM is losing $90 million a day in sales because of the strike, but strikers are being hurt more than GM is.
[CBS] - Correction: wholesale prices were up 0.5% last month, not 0.4%. [CBS]
- Robert Depugh, the right-wing leader of the Minutemen, was sentenced to 10 years in prison for his illegal stash of arms. [CBS]
- In the Manson family murder trial, Virginia Castro testified that her cell-mate, Susan Atkins, told her that she stabbed Sharon Tate. [CBS]
- Transportation Secretary John Volpe has launched an investigation of charter airlines and FAA regulation of them; the FAA has increased security around their installations due to threats by SDS-Weathermen radicals. [CBS]
- The Senate passed legislation to create an institute for international environmental problems. [CBS]
- The Equal Rights Amendment for women was sponsored by 81 Senators but it may be shelved indefinitely; Senator Sam Ervin blocked a vote to end debate. [CBS]
- The Italian Senate passed a bill to legalize divorce. [CBS]
- Bishop James Walsh returned home to Maryland after 22 years in China, 12 of them in a Communist prison. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 768.69 (-8.35, -1.07%)
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 8, 1970 | 777.04 | 85.95 | 14.50 |
| October 7, 1970 | 783.68 | 86.89 | 15.61 |
| 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 |