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Thursday November 12, 1970
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News stories from Thursday November 12, 1970


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

  • Charles DeGaulle was buried as world leaders attended a memorial mass in Paris for the French leader. DeGaulle had forbidden speeches in his memory. [CBS]
  • The United Auto Workers and General Motors' council approved the tentative contract. UAW president Leonard Woodcock wanted more, but said that the union made some good gains. [CBS]
  • Chase Manhattan bank dropped its prime lending rate from 7.5% to 7.25%; 50 other banks followed. [CBS]
  • At Fort Benning, Georgia, Lt. William Calley's defense attorneys challenged three of the first five prospective jurors. Several men said that pre-trial publicity influenced them. [CBS]
  • The Nixon administration reported that Cambodia needs more military aid to survive the Communist attack, and the President wants $250 million from Congress for Cambodia. [CBS]
  • The U.S. urged the United Nations not to expel Taiwan if Communist China joins. In that event, the U.S. may not fight China's entry to the U.N. as hard as before. [CBS]
  • Chilean President Salvador Allende renewed relations with Cuba. [CBS]
  • Yippie leader Jerry Rubin ignored an order to leave Britain. He wants to help the Irish revolution in Northern Ireland. [CBS]
  • Admiral Elmo Zumwalt is hailed as a sailors' admiral. Zumwalt is easing beard and hair restrictions, starting rock and roll service clubs and allowing beer to be sold in barracks. Zumwalt says that although he favors some changes, he won't put women on ships. [CBS]
  • After receiving pressure from the Nixon administration, IRS commissioner Randolph Thrower will continue to permit tax exemptions for foundations waging pollution lawsuits. [CBS]
  • The federal government asked airlines not dump fuel waste into the air. [CBS]
  • A propane gas plant explosion killed four people in Hudson, Ohio; a woman and two children were killed in a car. Residents of the town have been evacuated. [CBS]
  • Nine oil workers were killed in an explosion near Tulsa, Oklahoma. The men were testing a liquid to free natural gas deposits when the blast went off prematurely. [CBS]
  • Gunfights between police and blacks in Carbondale, Illinois wounded 10. [CBS]
  • John Linley Frazier pleaded not guilty to murdering Victor Ohta and his family, however Frazier may change his plea to not guilty by reason of insanity. [CBS]


Stock Market Report

Dow Jones Industrial Average: 768.00 (-11.50, -1.48%)
S&P Composite: 84.15 (-0.88, -1.03%)
Arms Index: 1.37

IssuesVolume*
Advances3512.29
Declines1,0199.09
Unchanged2631.14
Total Volume12.52
* 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
DateDJIAS&PVolume*
November 11, 1970779.5085.0313.52
November 10, 1970777.3884.7912.03
November 9, 1970777.6684.6710.89
November 6, 1970771.9784.229.97
November 5, 1970771.5684.1010.80
November 4, 1970770.8184.3912.18
November 3, 1970768.0784.2211.76
November 2, 1970758.0183.519.47
October 30, 1970755.6183.2510.52
October 29, 1970753.5683.3610.44


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