News stories from Thursday November 19, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- House protectionists won the vote on the import quota bill, which limits textile and footwear imports. Opponents fear that the bill will increase inflation and cause an international trade war. President Nixon wanted only textiles to be limited. [CBS]
- The Senate debated President Nixon's request for a $1 billion increase in foreign aid; the State Department and Senate are at odds. Senator Hugh Scott said that the President is hopeful, but Senator George McGovern stated that he opposes increased military support for Indochina. [CBS]
- The Senate passed a bill limiting farm subsidies to $55,000 per crop per year. [CBS]
- Unexpected events in the Sharon Tate-Leno LaBianca murder trial: the defense attorney rested his case, then the three female defendants demanded to testify. Defense attorney Paul Fitzgerald said that it's not in his clients' best interests, but the girls will be allowed to testify. The defense refused to cross-examine Susan Atkins. [CBS]
- Jurors from the "Chicago 7" conspiracy took the stand today as witnesses. Shirley Seaholm said that she was pressured into reaching a verdict; she wanted all the defendants to be acquitted. The defense claimed that due process was violated. [CBS]
- Former Attorney General Ramsey Clark called FBI director J. Edgar Hoover "self-seeking;" Hoover called Clark a "jellyfish." [CBS]
- Hilary Sandoval resigned as director of the Small Business Administration. [CBS]
- The Greenville, South Carolina, National Guard is on alert after racial violence; shots were fired at a school bus. [CBS]
- Sgt. David Mitchell testified for himself. Mitchell denied shooting any Vietnamese civilians at My Lai; he herded 15-30 into a ditch but stated that he wasn't in control of the squad. [CBS]
- A congressional committee heard testimony that soldiers are using hard drugs in Vietnam. [CBS]
- A typhoon hit the Philippines, causing much damage. [CBS]
- Over 150,000 people are now known to be dead in East Pakistan as a result of the recent typhoon and tidal wave. Food and water are scarce and disease is spreading. Foreign relief supplies can't reach many of the survivors; critics say that the government is mishandling the aid. [CBS]
- The Jordanian army battled Palestinian guerrillas in Amman. [CBS]
- The Soviet Union urged that Red China receive a seat in the United Nations. [CBS]
- A suspect in the shooting of a Soviet guard in Berlin has escaped. Russia believes that West German authorities aided the escape. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 755.82 (+1.58, +0.21%)
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* |
| November 18, 1970 | 754.24 | 82.79 | 9.85 |
| November 17, 1970 | 760.47 | 83.34 | 9.45 |
| November 16, 1970 | 760.13 | 83.24 | 9.16 |
| November 13, 1970 | 759.79 | 83.37 | 11.89 |
| November 12, 1970 | 768.00 | 84.15 | 12.52 |
| November 11, 1970 | 779.50 | 85.03 | 13.52 |
| November 10, 1970 | 777.38 | 84.79 | 12.03 |
| November 9, 1970 | 777.66 | 84.67 | 10.89 |
| November 6, 1970 | 771.97 | 84.22 | 9.97 |
| November 5, 1970 | 771.56 | 84.10 | 10.80 |