News stories from Monday December 14, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon appointed former Texas Governor John Connally to the post of Treasury Secretary after David Kennedy resigned to become ambassador-at-large. Republicans are pleased with the nomination although Connally is a Democrat. [CBS]
- President Nixon declared that campus unrest is not solely his fault. Campus Unrest Commission chairman William Scranton said that the commission's report condemns law enforcement violence but is not pablum for permissiveness, and the Vietnam war is not the basic cause of unrest. [CBS]
- There are reports that the U.S. has a new air cavalry brigade in South Vietnam to protect troop withdrawals; 6,000 American soldiers left Vietnam last week. [CBS]
- The U.S. is restricting American travel in Vietnam to official business only. South Vietnamese protestors bombed American businesses today; there were no injuries. [CBS]
- Lt. William Calley's defense proceeded. Gene Oliver testified that Capt. Ernest Medina was the one who ordered My Lai to be leveled; Stephen Glimpse said the same. [CBS]
- Gasoline supplies reached Phnom Penh, Cambodia, even though the Communists have the roads blocked. The Senate Foreign Relations Committee approved some aid to Cambodia, but restricted American ground troops from entering the country and denied defensive assistance for Lon Nol's government. [CBS]
- Republican governors denounced the 1970 election campaign; Republican party chairman Rogers Morton accepted their blame. Both California Governor Ronald Reagan and New York Governor Nelson Rockefeller announced that they oppose President Nixon's welfare reform plan. [CBS]
- The seven leftists who were tried for demonstrating in Tacoma, Washington, have been cited for contempt. The defendants tore up their citations and threw them at the judge; defendants and spectators brawled with court officers. The defendants received six months in jail for contempt. Six of the defendants received additional time because of today's brawl. [CBS]
- Environmental Protection Agency director William Ruckelshaus may find clean-up hard. Detroit plans to end its polluting of Lake Erie but other cities are years behind schedule on anti-pollution moves. Federal money has been late in coming; Congress and the Nixon administration blame each other. [CBS]
- Electrical workers in Britain ended their strike because of public pressure. There has been no settlement with the government, however. [CBS]
- In Spain, 16 Basque nationalists are on trial; artists and intellectuals are protesting. The government has declared a state of emergency, allowing unlimited arrests for six months. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 823.18 (-2.74, -0.33%)
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* |
| December 11, 1970 | 825.92 | 90.26 | 15.79 |
| December 10, 1970 | 821.06 | 89.92 | 14.61 |
| December 9, 1970 | 815.24 | 89.54 | 13.55 |
| December 8, 1970 | 815.10 | 89.47 | 14.37 |
| December 7, 1970 | 818.66 | 89.94 | 15.53 |
| December 4, 1970 | 816.06 | 89.46 | 15.98 |
| December 3, 1970 | 808.53 | 88.90 | 20.48 |
| December 2, 1970 | 802.64 | 88.48 | 17.96 |
| December 1, 1970 | 794.29 | 87.47 | 20.17 |
| November 30, 1970 | 794.09 | 87.20 | 17.70 |