News stories from Tuesday February 24, 1970

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

Israel has been arguing for more U.S. Phantom jets in order to offset growing Arab arsenals; Washington is preparing to meet part of Israel's request. Press secretary Ron Ziegler says the matter is still under discussion and no decision has been made.British ground crews are boycotting Arab and Israeli airlines because they feel there is too much danger in servicing flights to the Mideast. [CBS] President Pompidou of France was greeted by President Nixon in a formal ceremony. Both Presidents spoke of the close friendship between their countries. Jewish Defense League demonstrators tried to picket, but were arrested. Pompidou spoke to the National Press Club, where he justified the sale of French jets to Libya. The Nixon administration disapproves of the sale because it stimulates the arms race. New York Rep. Bertram Podell urged a boycott of Pompidou's speech to Congress to protest France's Mideast policy.In Chicago there were demonstrations against Pompidou's planned visit; 2,000 demonstrators and 30 Jewish organizations rallied against the French President. French authorities are upset at Mayor Daley's snub. Daley will not be there to greet Pompidou. [CBS] It was just announced that the U.S. has decided to sell more jets to Israel, including Phantom and Skyhawk jets. [CBS] A record flow of war material is coming down the Ho Chi Minh trail from North Vietnam, and most of it is reaching South Vietnam despite fierce B-52 strikes. The materials may be used to supply a spring offensive. [CBS] Captain Lloyd Bucher of the "Pueblo" says that he and one-third of his crew have suffered some loss of sight as result of the bad diet in their North Korean prison. [CBS] Defense Secretary Melvin Laird asked Congress to expand the Safeguard anti-ballistic missile system in order to counteract Soviet and Chinese missile threats. The Pentagon will soon announce massive cutbacks on over 100 military bases; some may be closed. [CBS] Georgia Governor Lester Maddox and Rep. Charles Diggs engaged in a shouting argument in the House restaurant. Diggs objected to Maddox passing out autographed axe handles, mementos of Maddox barring blacks from the restaurant he owns. [CBS] House Ways and Means chairman Wilbur Mills said that his committee will approve welfare reform along President Nixon's lines, including a guaranteed minimum income for families. [CBS] The Supreme Court upheld states' rights to allocate education aid in proportion to taxes paid by school districts. [CBS] More avalanches have hit the Alps: 29 are reported dead in Switzerland, and three people were killed in Grenoble, France. [CBS] The Senate reopened hearings on the safety of the birth control pill. Dr. Elizabeth Connell charged that earlier testimony against the pill was "ridiculous" and created a panic in January, thereby creating new unwanted pregnancies. [CBS] The state of Hawaii legalized abortion, with a residency requirement of 90 days. [CBS] A British medical team announced that it hopes to create the first test tube baby by the end of the year. [CBS]

Stock Market Report

Dow Jones Industrial Average: 754.42 (-3.04, -0.40%)
S&P Composite: 87.99 (-0.04, -0.05%)
Arms Index: 1.16

	Issues	Volume*
Advances	741	5.00
Declines	592	4.62
Unchanged	272	1.20
Total Volume		10.82

* 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*
February 20, 1970	757.46	88.03	10.79
February 19, 1970	757.92	87.76	12.89
February 18, 1970	756.80	87.44	11.95
February 17, 1970	747.43	86.37	10.14
February 16, 1970	753.70	86.47	9.78
February 13, 1970	753.30	86.54	11.06
February 12, 1970	755.61	86.73	10.01
February 11, 1970	757.33	86.94	12.26
February 10, 1970	746.63	86.10	10.11
February 9, 1970	755.68	87.01	10.83