News stories from Wednesday December 16, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Anti-government riots ripped through port cities in Poland. The army imposed a curfew after rioters burned buildings and murdered police. People are protesting the economy; prices have gone up just in time for Christmas. [CBS]
- Anti-American terrorism is spreading in Saigon. A grenade was thrown into a group of soldiers and an officers' quarters was bombed, killing two people. [CBS]
- U.S. bombers saturated the Ho Chi Minh Trial in Laos. Communist supplies are down 80% along the trail but 400 American planes have been lost. The Soviet Union condemned President Nixon for threatening to resume bombing of North Vietnam. [CBS]
- The Pentagon reported that deployment of Soviet SS-9 ICBMs is decreasing. [CBS]
- The Spanish government declared a state of emergency during the trial of Basque nationalists; pro-government rallies are being held. A military court has reached a verdict which is expected to be announced soon. [CBS]
- President Nixon vetoed the manpower training bill which was designed to reorganize job training. The White House threatened a long congressional session if top-priority legislation is not dealt with instead. Six filibusters have been threatened in the Senate, on bills including topics such as aid to Cambodia, the SST and Social Security. [CBS]
- Republican governors are dissatisfied with the 1970 election campaign. Vice President Spiro Agnew visited their Sun Valley, Idaho, conference today even though he is not popular with most of the governors, but California Governor Ronald Reagan supports him. The conference is divided, unlike past Republican governors' conferences. [CBS]
- A Senate-House conference agreed on the 1975 clean air bill deadline with just a one-year extension. It is a setback for President Nixon and the auto industry. [CBS]
- A contract between General Motors and the United Auto Workers in Canada has been reached and UAW members are expected to ratify it. [CBS]
- Senator Sam Ervin charged that Army intelligence has investigated all Congressmen who are believed to be left of center. A former Army intelligence agent reported that 800 government officials are suspect. Senator Adlai Stevenson said that he was investigated and photographed. Representative Abner Mikva said that if the report is true then the U.S. is a military dictatorship and he called Army investigations "traitorous". The White House stated that military investigations are not admnistration policy. [CBS]
- A federal grand jury indicted Rep. Martin McKneally for not filing income tax returns for the past three years. [CBS]
- A Senate committee reported that federal income tax forms are too complicated for elderly people, who overpay because they don't know about special deductions. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 819.07 (-0.55, -0.07%)
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 15, 1970 | 819.62 | 89.66 | 13.42 |
| December 14, 1970 | 823.18 | 89.80 | 13.81 |
| 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 |