News stories from Friday October 23, 1970

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

President Nixon told the United Nations that world peace depends on U.S.-Soviet cooperation and competition. He urged the U.S. and USSR to avoid conflict in disputes between smaller nations. U.N. security is tight. British Prime Minister Edward Heath warned that civil wars may be the main danger of the 1970's. [CBS] Santa Cruz, California, police captured John Linley Frazier, a suspect in the mass murder of the Victor Ohta family; Frazier is a neighbor of Ohta's. Frazier pleaded not guilty at his arraignment. [CBS] Kenneth Young was kidnapped three years ago and freed for $250,000 ransom. IRS agent Ronald Miller has been convicted of the crime just before the statute of limitations would have run out. The money has not been recovered. [CBS] In San Juan, Texas, pilot Frank Alexander issued a radio warning to evacuate a church, then rammed his plane into it, killing himself; people in the church escaped injury. [CBS] The Navy reported that 17 ships which have been withdrawn from the 7th Fleet in Vietnam will be retired. [CBS] An Army division in Vietnam reportedly used the Agent Orange defoliant after it was banned; the Pentagon is investigating. [CBS] In Santiago, Chile, arrests were made following yesterday's assassination attempt on General Rene Schneider Chereau. Many fear that new President Allende's regime will become a Communist dictatorship; the wealthy are leaving the country before next month's inauguration. [CBS] The U.S. has asked the Soviet Union to free General Edward Scherrer and General Claude McQuarrie. Their plane became lost during a storm and landed in Soviet territory on Wednesday. [CBS] The Associated Press reported that the U.S. will sell Israel 200 tanks. The bill which is needed to allow the sale is now stalled in Congress. [CBS] An anti-unrest movement at Kent State University is gaining strength; 2,000 people have signed a petition calling for education, not disruption. [CBS] Hearings are continuing on the Colorado plane crash, as the Wichita State football players who survived the crash are preparing to take the field; the team is mostly freshmen and sophomores now. Coach Bob Seaman said that the dead players would want the team to go on. A spokesman for Golden Eagle Aviation stated that the university understood the standards of the charter airline which crashed. [CBS] Two brands of birth control pills have been taken off the market after heavy doses caused cancer in dogs. [CBS] President Nixon won't endorse Republican Senator Charles Goodell, and Vice President Spiro Agnew has attacked Goodell. Despite that, many Republican Senators are endorsing him. [CBS] House Speaker John McCormack continued the Democrat theme that Republicans are using the "law and order" issue to cover up their bad economic policies. [CBS] Gary Gabelich set a land speed record at 622 m.p.h. [CBS]

Stock Market Report

Dow Jones Industrial Average: 759.38 (+1.51, +0.20%)
S&P Composite: 83.77 (+0.49, +0.59%)
Arms Index: 0.75

	Issues	Volume*
Advances	707	5.62
Declines	563	3.37
Unchanged	308	1.29
Total Volume		10.28

* 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*
October 22, 1970	757.87	83.28	9.00
October 21, 1970	759.65	83.66	11.33
October 20, 1970	758.83	83.64	10.63
October 19, 1970	756.50	83.15	9.89
October 16, 1970	763.35	84.28	11.30
October 15, 1970	767.87	84.65	11.25
October 14, 1970	762.73	84.19	9.92
October 13, 1970	760.06	84.06	9.50
October 12, 1970	764.24	84.17	8.57
October 9, 1970	768.69	85.08	13.98