News stories from Wednesday November 18, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Several nations are sending relief to East Pakistan, where a tidal wave and cyclone have killed thousands of people and livestock. Disease and famine are spreading; many refugees are isolated. [CBS]
- President Nixon asked Congress for more foreign aid money. Foreign aid is now $2 billion, but the President wants a total of $3 billion; $500 million is for military aid to Israel. Cambodia got $30 million, but Nixon wants an extra $255 million. The President wants $65 million more for Vietnam and $150 million more for Korea, and he wants the bill to be passed during the lame duck session of Congress. Senator Mike Mansfield opposes increasing foreign aid. [CBS]
- Protectionists won a battle in the House to force a debate on import quotas. [CBS]
- The United Nations will vote on admitting Red China for membership on Friday. China now wants a seat in the U.N., although it was indifferent about joining before. A two-thirds vote is needed; China may get it next year. [CBS]
- Syrian ruler Hafez al-Assad appointed former teachers' union head Ahmed al Khatib as president; Assad still holds power though. [CBS]
- West Germany and Poland signed a treaty recognizing their international border as the Oder and Neisse Rivers. [CBS]
- Five Americans were killed by a booby trap in Vietnam. [CBS]
- Marine General Lewis Walt said that the Marines didn't know what Vietnam would get them into; they underestimated guerrilla warfare. [CBS]
- My Lai eyewitnesses testified at Lt. William Calley's trial. Photographer Ronald Haeberle said that he saw Vietnamese civilians being shot, but didn't see Calley. Frank Beardsley saw bodies, but also didn't see Calley.
Calley may play a part in Sgt. David Mitchell's trial. Witnesses have said that they didn't see Mitchell shoot civilians. The defense may rest its case soon.
[CBS] - Hudson County, N.J. Democratic leader John Kenny and Jersey City Mayor Thomas Whelan pleaded innocent to extortion charges. [CBS]
- Soviet spacecraft "Lunokhod I" sent more television shots to earth from the moon. A similar vehicle may be used on Mars. [CBS]
- Most of the widows of the coal miners who were killed in Farmington, West Virginia have settled for $10,000 each from the mining company; 61 of 78 widows agreed to the settlement, but the others are holding out. [CBS]
- An Associated Press survey shows that over half of the nation's airports lack adequate instrument guidance systems, including some airports with heavy traffic. [CBS]
- The Flint, Michigan, city prosecutor and his staff refused raises, asking that the money be used for welfare and to fight drug abuse. [CBS]
- Warren Harding and Dean Caldwell have become the first men first to scale El Capitan mountain in Yosemite National Park. It took them 30 days to climb the 3,400 foot peak. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 754.24 (-6.23, -0.82%)
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 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 |
| November 5, 1970 | 771.56 | 84.10 | 10.80 |
| November 4, 1970 | 770.81 | 84.39 | 12.18 |