News stories from Tuesday March 24, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- U.S.-Soviet Mideast talks may resume tomorrow. Israel's jet request is still being considered, pending Russia's supply of surface-to-air missiles to Egypt. [CBS]
- The post office strike has ended except in New York City, but air traffic controllers will stage a slowdown, calling in sick tomorrow to protest working conditions. The Federal Aviation Administration expects normal operation at most airports. [CBS]
- President Nixon based his desegregation statement on the concept of neighborhood schools, whether they be black, white, or mixed. A $1.5 billion ghetto school program has also been proposed. The President claims that past desegregation programs burdened schools unjustly and he stated that an open society doesn't have to be "fully integrated." Deliberate segregation is unlawful, but de facto segregation is unavoidable. President Nixon is against busing and teacher segregation and he wants the law to apply equally nationwide. [CBS]
- G. Harrold Carswell's nomination to the Supreme Court is being delayed by the Senate, hurting his chances. Senator Hugh Scott is still sure of confirmation but the opposition says that Carswell's defeat is likely now. Only one more "no" vote is needed. [CBS]
- The Senate called for Pentagon testimony regarding the F-111 fighter jet's 375% cost increase. All planes have been grounded following a structure-caused crash. [CBS]
- A new Chevron oil well fire in the Gulf of Mexico was snuffed. The slick was sunk by using chemicals which may cause more damage to the ocean floor than a surface slick, but the Interior Department approved the move. Chevron is liable for marine damage. [CBS]
- A federal grand jury charged the New Jersey state Assembly President Pro Tem., a former bank president and 23 corporations with bank fund mismanagement. [CBS]
- American air attache Col. Don Crowley was kidnapped in the Dominican Republic and is being held in exchange for the release of 21 political prisoners. [CBS]
- An American Marine helicopter was downed over Laos; four soldiers were killed. Eleven aircraft have been lost in Laos during the past two weeks. [CBS]
- Peking radio broadcast Prince Sihanouk's appeal for the new Cambodian government to be overthrown. North Vietnamese troops in Cambodia outnumber the army; Cambodian Premier Lon Nol is unclear on how he'll stop Sihanouk's counter-coup. [CBS]
- Senator Thomas Dodd opened hearings on drug usage by U.S. troops in Vietnam. A psychiatrist claimed that 50-80% of soldiers in Vietnam have tried marijuana. The Army is doing little to stop marijuana use. [CBS]
- An Army lieutenant will be tried for murder for ordering a Vietnamese prisoner to be shot. The sergeant who killed the prisoner is also under investigation. [CBS]
- The U.S. Coast Guard Academy expelled nine cadets for marijuana possession and use, the first drug-related dismissals in school history. [CBS]
- The leader of the Young Republicans is being tried for draft evasion. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 773.76 (+10.16, +1.33%)
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 23, 1970 | 763.60 | 86.99 | 7.33 |
| 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 |