News stories from Monday October 19, 1970

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

President Nixon called on the "silent majority" to vote for Republicans. The President visited Ohio State University to campaign for Senate candidate Robert Taft, Jr. and denounced terrorism in the U.S. and Canada. Mrs. Pat Nixon campaigned for Michigan Senate candidate Lenore Romney. [CBS] An Ohio grand jury indicted the Kent State University student body president and a professor for causing campus disturbances. [CBS] The Supreme Court heard a case on the 18-year-old vote; some states are against it, but the Nixon administration favors it. The Court will also hear a case on gun control legislation. [CBS] The NAACP sued the Department of Health, Education and Welfare for discrimination for not cutting funds to segregated schools. [CBS] The Canadian Parliament supports Prime Minister Pierre Trudeau's use of the war emergencies act; the killers of Labor Minister Pierre Laporte are being sought. Laporte's body and FLQ literature were found in St. Hubert. Paul Rose and Marc Charbonneau are sought for Laporte's murder and for kidnapping James Cross. The U.S. and Canada have increased security for each other's diplomats and citizens. [CBS] Sgt. David Mitchell's trial has begun. Two prosecution witnesses stated that they saw Mitchell shoot civilians at My Lai; one witness said Mitchell tried to kill him too.Four other witnesses are barred from testifying until the House releases their testimony. House Armed Services Committee chairman Mendel Rivers said that he won't release testimony, because doing so would break faith with witnesses. Rivers denounced the publicity surrounding My Lai and noted that World War II pilots could be tried for bombing towns if My Lai standards were applied. [CBS] United Arab Republic President Anwar Sadat said that he won't extend the Mideast cease-fire without genuine and effective contacts. Israel won't talk until the United Arab Republic rolls their missiles back from the Suez Canal zone. [CBS] New Syrian military ruler General Hafez al Assad is reportedly cracking down on Palestinians in Syria. [CBS] Chilean President Salvador Allende was confirmed as President by the national legislature. [CBS] Polls show Governor Ronald Reagan far ahead of Democrat challenger Jesse Unruh in California. Unruh says that oil company executives are major Reagan supporters, and major environmental polluters. Unruh also said that Reagan gives tax breaks to big business, not people. Unruh has little money. [CBS] New York City Mayor John Lindsay has endorsed Democrat Arthur Goldberg for governor, amid reports that Lindsay may switch to the Democratic party; Lindsay says that he will remain a Republican. [CBS] Chrysler reported earnings of 2 cents per share last quarter. Earnings were 7 cents a share in the last quarter of 1969; the company blamed adverse overseas conditions. [CBS] The Pentagon claims that the Atlantic Ocean was not polluted by nerve gas which was dumped last spring. [CBS] In New York City, the "Militant Young Lords" barricaded a church and demanded that clergy investigate the death of a Puerto Rican who was killed in a city jail last week. Guards said that the man hanged himself, the Lords say he was murdered. [CBS] In Chicago, a convicted murderer who was sentenced to death pulled a gun, seized a deputy, and tried to escape from court. He was shot and killed in the ensuing gunfight; two others were injured. [CBS] Chicago judge Julius Hoffman dismissed riot conspiracy charges against Black Panther chairman Bobby Seale. Seale's five co-defendants were acquitted of conspiracy but convicted on individual charges of rioting. Seale faces similar charges along with a murder charge in Connecticut. [CBS] The CIA reported that Communists have infiltrated the South Vietnamese military and government; the White House says that the report is exaggerated. A non-Communist South Vietnam seems unlikely, however. The Communists will use subversion, not military power, for their eventual victory. [CBS]

Stock Market Report

Dow Jones Industrial Average: 756.50 (-6.85, -0.90%)
S&P Composite: 83.15 (-1.13, -1.34%)
Arms Index: 1.69

	Issues	Volume*
Advances	295	1.28
Declines	1,059	7.77
Unchanged	237	0.85
Total Volume		9.90

* 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 16, 1970	763.35	84.28	11.30
October 15, 1970	767.87	84.65	11.25
October 14, 1970	762.73	84.19	9.92
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