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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

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
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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