News stories from Monday March 23, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon ordered the Army to deliver New York City's mail in an unprecedented action. The President cited court injunctions against the strike and said that he won't hesitate to send troops into other cities. The Army will be withdrawn as workers return. The military would not be asked to deliver home mail, just sort and haul sacks; 165,000 Post Office workers are currently striking. [CBS]
- Advisers urged President Nixon's post office action. Troops are moving slowly, allowing postal workers maximum time to return before the Army acts. Postmaster General Winton Blount blames the post office structure for the strike. Labor Secretary George Shultz says that he won't talk with lawbreakers. A railroad union leader said that shopcraft workers are in the same mood as the mailmen and may be uncontrollable after Congress' strike ban expires on April 11. [CBS]
- The United States is giving Israel $100 million in economic aid, but denied the sale of jets. Secretary of State William Rogers claims that Israel's air force is strong enough but that we will sell more planes if Israeli security is jeopardized. Rogers hopes that the Soviets match the U.S.' restraint. [CBS]
- President Nixon asked for Soviet aid in restoring peace in Laos. Pathet Lao guerrillas offered peace terms, demanding a U.S. bombing halt in return. President Phouma rejected the Communists' demand for the bombing halt but called the peace meeting a first step. [CBS]
- North Vietnam declared its support for Cambodia's ousted Prince Sihanouk. Sihanouk says he doesn't want to take power, but he does want to overthrow the new anti-Communist government. The type of support North Vietnam would provide is not yet clear. [CBS]
- The Supreme Court declared that welfare recipients are entitled to a formal hearing before payments cease. Its ruling on the movie "I Am Curious - Yellow" will affect state and local censorship. [CBS]
- The Senate increased education and job benefits in the new GI Bill. [CBS]
- Atlanta union leaders are considering court action to prevent prison labor replacements of striking city workers. [CBS]
- Alleged Mafia boss Carlo Gambino was arrested in New York City for planning an armored truck robbery. [CBS]
- The FDA proposed health warnings for oral contraceptives; the warning was lessened under pressure from the American Medical Association. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 763.60 (-0.06, -0.01%)
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* |
| March 20, 1970 | 763.66 | 87.06 | 7.91 |
| March 19, 1970 | 764.98 | 87.42 | 8.93 |
| March 18, 1970 | 767.95 | 87.54 | 9.79 |
| March 17, 1970 | 767.42 | 87.29 | 9.09 |
| March 16, 1970 | 765.05 | 86.91 | 8.91 |
| March 13, 1970 | 772.11 | 87.86 | 9.56 |
| March 12, 1970 | 776.47 | 88.33 | 9.14 |
| March 11, 1970 | 778.12 | 88.69 | 9.18 |
| March 10, 1970 | 779.70 | 88.75 | 9.45 |
| March 9, 1970 | 778.31 | 88.51 | 9.76 |