News stories from Friday November 20, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Red China won a majority vote to replace Taiwan in the United Nations, but not the two-thirds which is needed. The U.S. won't change its position yet, but other Western nations are softening their view of Peking; U.N. membership for China next year is possible. [CBS]
- The Boston Globe reported that President Nixon's urban adviser, Daniel Patrick Moynihan, may be the new U.S. ambassador to the United Nations. [CBS]
- The Senate Finance Committee tabled President Nixon's welfare reform plan, calling it "repressive." Senator Fred Harris contended that the plan does not represent real reform. [CBS]
- The Senate added $500 million to the Health, Education and Welfare and labor appropriations bill and passed it. [CBS]
- The Nixon administration wants to couple $155 million aid to Cambodia with Vietnam troop withdrawals. Defense Secretary Melvin Laird says that the money is necessary to facilitate the withdrawal. [CBS]
- The civil defense telephones of governors in six states were reported to be bugged. [CBS]
- Most UAW members ratified the union's contract with General Motors, but some locals are holding out. [CBS]
- Chase Manhattan Bank lowered its prime interest rate to 7%. [CBS]
- The defense for Charles Manson ended its case. Manson took the stand and said that he doesn't know who he is. He claimed that didn't order the killings, and stated that people are projecting their fears onto him. Manson didn't speak in front of the jury. [CBS]
- At Fort Hood, Texas, the jury is deliberating its verdict on Sgt. David Mitchell after attorneys for both sides made their final statements. At least five of the seven officers must agree in order to obtain a conviction. [CBS]
- Two dogs recently received Bronze Stars, but the Army revoked their medals. [CBS]
- West Berlin police recaptured Ekkehard Weil, the suspect in the shooting of a Soviet soldier. [CBS]
- Former Soviet Premier Nikita Khrushchev is reported to be in poor health. [CBS]
- The federal government charged the Shell, Continental and Union Oil Companies with failing to install safety devices on their offshore drilling rigs. [CBS]
- A cholera epidemic has hit survivors in East Pakistan; protests are breaking out against the government. [CBS]
- Over 100 people in the Philippines were killed by Typhoon Patsy as 125 m.p.h. winds ripped through Manila. Pope Paul is scheduled to visit the islands next week. [CBS]
- Vice President Spiro Agnew praised the U.S. media as the best in the world. He stated that he just wanted to stimulate self-examination by his previous criticisms of the media. [CBS]
- The Civil Aeronautics Board approved an increase in air fares, but tourist-class rates will remain unchanged. [CBS]
- The Public Health Service is being criticized for its handling of the Washington, DC tuberculosis outbreak last February. 10,000 workers and reporters were tested for T.B.; Isoniazid tablets were used to treat victims. Reporters Timothy Bleck and Robert Stuckey died of side-effects from the medication. [CBS]
- James Kelly abducted two policemen in Cleveland. He released them but now has two women and a man as hostages; a search is underway. [CBS]
- Clark Wiley killed himself just before he was to be tried for child abuse. Wiley kept his 13-year-old daughter Susan locked in her bedroom for her entire life, until she was recently discovered by a social worker. [CBS]
- The Army reported that the Customs Bureau uncovered a plot by revolutionaries to steal toxic bacteria and pollute the water of an unspecified city. [CBS]
- NASA reported finding a method to squeeze water and oxygen from lunar soil. Doing so may enable longer lunar expeditions. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 761.57 (+5.75, +0.76%)
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 19, 1970 | 755.82 | 82.91 | 9.28 |
| 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 |