News stories from Monday December 21, 1970

Summaries of the stories the major media outlets considered to be of particular importance on this date:

The Supreme Court ruled that 18-year-olds can vote in federal elections, but not state and local elections. Senator Edward Kennedy warned that states will be pressured to allow 18-year-olds to vote, and he introduced an amendment requiring states to do so.In other rulings, the Supreme Court banned literacy tests for voting, set a 30-day maximum residency requirement for federal elections in any state, and refused to hear Bobby Baker's appeal of his income tax, larceny, and conspiracy convictions. [CBS] A new survey reported that blacks are degraded in integrated schools, and urged President Nixon to take action. [CBS] Congress is stalled. Senator Henry Jackson wants a vote on the supersonic transport, defense and foreign aid including aid to Cambodia is stalled, welfare reform and import quotas are blocked. The Senate will move to recess for Christmas tomorrow. [CBS] The USSR backed new Polish Communist party leader Ed Gierek. Former chief Wladyslaw Gomulka resigned; riots are subsiding. Gierek was a district-level Communist chief who has vowed to make national reforms. [CBS] Soviet Premier Alexei Kosygin said that Israel breeds war. Menawhile, the USSR will increase aid to the United Arab Republic. [CBS] Senator Henry Jackson stated that the U.S. Mideast peace plan won't help the situation there, and warned that we are underestimating Soviet power in the Mideast. [CBS] It was announced that 12,000 U.S. troops will leave Japan; 5,000 will leave Okinawa. The announcement made no connection between the withdrawals and the recent anti-American riots in Okinawa. U.S. troop strength in Vietnam is down to 339,200. [CBS] There is no verdict yet in the trial of Basque separatists in Spain. Spain's Vice President said that the government will increase the armed forces to protect the country from Communist subversion. [CBS] The Coast Guard recommended that Rear Admiral William Ellis be court-martialed, but Transportation Secretary John Volpe overrode that decision. Ellis will retire instead, and the same applies to Ellis' chief of staff Fletcher Brown. The two men were involved in rejecting the defection attempt of a Lithuanian sailor. Investigators of the incident recommend that Commander Ralph Eustis be reprimanded. [CBS] Charles Manson's trial resumed in Los Angeles. Leslie van Houten's attorney, Ronald Hughes, is still missing so the court appointed her a new attorney. Van Houten protested the decision and hit the court bailiffs; three female defendants were taken from the court. [CBS] The FBI reported that violent crime is up 10% overall this year and up 14% in the suburbs. [CBS] The Agriculture Department reported that cigarette consumption was up to an average of 202 packs per person. An increase in TV advertising was blamed. [CBS] The National Union Electric Corporation is suing seven Japanese television manufacturers for dumping their products on the U.S. market at low prices. The company is seeking $360 million in damages. [CBS]

Stock Market Report

Dow Jones Industrial Average: 821.54 (-1.23, -0.15%)
S&P Composite: 89.94 (-0.28, -0.31%)
Arms Index: 1.43

	Issues	Volume*
Advances	654	4.49
Declines	729	7.17
Unchanged	296	1.03
Total Volume		12.69

* in millions of shares

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 18, 1970	822.77	90.22	14.36
December 17, 1970	822.15	90.02	13.66
December 16, 1970	819.07	89.72	14.24
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