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Monday November 16, 1970
. . . where the 1970s live forever!

News stories from Monday November 16, 1970


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

  • Edmund Muskie is seeking a seat on the Senate Foreign Relations committee, George McGovern is too. Both may seek the Democratic presidential nomination in 1972. [CBS]
  • Congress' losers are performing their final duties. Texas Rep. George Bush said that people are afraid to talk to him; Rep. William Cramer doesn't know what he'll do next; Senator Albert Gore was well-liked by his colleagues; Rep. Allard Lowenstein called Republicans "ingrates"; Senator Eugene McCarthy will write and lecture. Their staffs are seeking work. [CBS]
  • Democrat Vance Hartke has apparently beaten Rep. Richard Roudebush in the Indiana Senate race. Republicans will ask for a recount. [CBS]
  • Israeli Prime Minister Golda Meir said that she won't demand a total roll-back of United Arab Republic missiles before peace talks begin, but Israel is in no hurry to talk. [CBS]
  • South Vietnam Vice President Nguyen Cao Ky started his U.S. speaking tour. At West Point, New York, the U.S. Military Academy welcomed Ky, who was cheered by the cadets; security was tight. Ky asked that reporters be barred from his West Point speech. [CBS]
  • Jury selection is complete for Lt. William Calley's trial. Six of 25 prospective jurors were chosen: Col. Clifford Ford, Capt. Ronald Salem, Maj. Charles MacIntosh, Maj. Carl Bierbaum, Maj. Walter Kinnard, Capt. Harvey Brown. The trial starts tomorrow. [CBS]
  • The Nixon administration claims that the shift from a war economy to peace is what is causing unemployment to rise; 6.5% of Vietnam veterans are currently unemployed. Five percent of the labor force was unemployed this summer. [CBS]
  • Over 50,000 people are known to have been killed by the tidal wave and cyclone which hit East Pakistan. [CBS]
  • Nikita Khrushchev denied that his memoirs will be published in Time magazine. Time insisted that the papers it has are authentic. [CBS]
  • Pope Paul reaffirmed his stand against birth control and criticized agencies that promote it. [CBS]
  • The U.S. Catholic Bishops Conference has asked for $50 million in contributions to aid the poor. The National Association of Laymen reported that the Catholic Church is sitting on $45 billion in assets, taking in money but not giving aid. [CBS]
  • A federal grand jury charged Hudson County (N.J.) Democratic party leader John Kenny and Jersey City Mayor Thomas Whelan with getting kickbacks from business deals. [CBS]
  • American Motors Corporation reported that it lost $56 million during the last fiscal year, blaming an adverse economy and a strike. AMC said that it expects to be profitable next year. [CBS]


Stock Market Report

Dow Jones Industrial Average: 760.13 (+0.34, +0.04%)
S&P Composite: 83.24 (-0.13, -0.16%)
Arms Index: 0.81

IssuesVolume*
Advances4963.39
Declines8014.44
Unchanged3201.34
Total Volume9.17
* 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 13, 1970759.7983.3711.89
November 12, 1970768.0084.1512.52
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


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