News stories from Wednesday October 14, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- North Vietnam formally rejected the U.S. peace plan for Indochina. North Vietnam says that a cease-fire must follow a negotiated peace, the Saigon government must be ousted and all Americans must be out of Vietnam before any POWs are exchanged. The State Department noted that refusal is a typical Communist bargaining technique. [CBS]
- The Atomic Energy Commission reported that the Soviet Union and Red China set off nuclear blasts; the Soviet blast was underground, the Chinese one was in the atmosphere. [CBS]
- Black revolutionary Angela Davis was arraigned in New York City on the charge of buying the guns which were used in the San Rafael, California, jailbreak attempt. Protesters massed outside the New York City federal building. Bond has been set at $250,000 for Davis and $100,000 for her accomplice, David Poindexter.
Poindexter's neighbors in Chicago said that he has lived the life of a playboy since the suicide of his wealthy wife last year. Poindexter's police record goes back to 1956; his father was a Communist party leader. Weather Underground member Bernardine Dohrn replaces Davis on the FBI's Ten Most Wanted list.
[CBS] - In Cambridge, Massachusetts, the Harvard University International Study Center was bombed, causing heavy damage but no injuries. Female revolutionaries claimed credit, dedicating the blast to Angela Davis. [CBS]
- The Fraternal Order of Police is organizing a police rally in Washington, DC to protest radicals' assaults and bombings. [CBS]
- Senator James Eastland says that there is a national conspiracy against the police, and he wants legislation to curb the attacks. [CBS]
- Congress approved a drug control bill which increases the penalty for dealers but eases penalties for users; the bill includes the "no-knock" clause. [CBS]
- The Supreme Court continued to hear busing and desegregation cases. Martha Mitchell said that if the Supreme Court doesn't favor the neighborhood school concept they'll hear from her. [CBS]
- Black employees have claimed discrimination at the Department of Housing and Urban Development; HUD secretary George Romney defended the agency's policies and denied that he's running a "plantation system." [CBS]
- The Transportation Department warned that 4 million Fords and Mercurys may have defective front ends, but a general recall is unnecessary. [CBS]
- Senator William Saxbe denounced Vice President Spiro Agnew's attacks on Republican Senator Charles Goodell; Senator Mark Hatfield warned that the Vice President's attacks on liberal Republicans invite disaster for the party. [CBS]
- President Nixon will campaign in as many as 17 states. In Ohio, Republican Senate nominee Robert Taft, Jr. faces Howard Metzenbaum. Ohio Republicans have been scandalized by questionable loans; both Senate candidates are millionaires and are running television ad blitzes. The economy's effect on workers may decide the election. Metzenbaum has accused the Nixon administration of increasing unemployment; Taft says that increased unemployment helps curb inflation. The race is close. [CBS]
- The United Nations is celebrating its 25th anniversary; security is heavy. [CBS]
- Secretary of State William Rogers will meet United Arab Republic Foreign Minister Mahmoud Riad to discuss the Mideast crisis. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 762.73 (+2.67, +0.35%)
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 13, 1970 | 760.06 | 84.06 | 9.50 |
| October 12, 1970 | 764.24 | 84.17 | 8.57 |
| October 9, 1970 | 768.69 | 85.08 | 13.98 |
| 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 |