News stories from Thursday February 26, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Communist offensive in Laos has penetrated to within a few miles of the highway connecting Luang Probang and Vientiane. Premier Souvanna Phouma called for an emergency meeting of the 14 countries that signed the 1962 Geneva agreement assuring Laotian neutrality.
Secretary of Defense Melvin Laird stated that American air power will protect American forces in Vietnam, there will be no American ground troops in Laos and no change in American policy toward Laos. Senate Foreign Relations Committee chairman William Fulbright says that the press reports regarding Laos are "disturbing". Press reports are generally more accurate than government press releases concerning the Vietnam war.
[CBS] - Secretary of Defense Laird reported that the draft call will be lowered to 210,000 for 1970 due to the "Vietnamization" of the war and cutbacks in American military strength. [CBS]
- Five American Marines are charged with murdering five Vietnamese civilians and 11 children during a night patrol south of Danang. [CBS]
- There is no legislative immunity under South Vietnam's version of democracy. South Vietnam President Nguyen Van Thieu jailed an opposition national assemblyman who was convicted by a military court of pro-Communist activities. The convicted South Vietnamese legislator, Tran Ngoc Chau, was charged with illegal contact with his brother, who is an admitted Communist agent. [CBS]
- In Manila, there was a violent demonstration outside the American embassy in protest of an American's shooting of a suspected Filipino burglar on Clark Air Force Base. [CBS]
- Al Fatah criticzed King Hussein of Jordan and called for a new government and a change in command of the army. Palestinian refugees insist that Hussein has been too lax in the fight against Israel. [CBS]
- Israeli jets attacked missile bases 18 miles from Cairo and shot down three Soviet-built MiGs. [CBS]
- Students rioted at the University of California Santa Barbara campus; a Bank of America branch was burned. The cause of the disturbance was thought to be the conviction of the "Chicago 7", though students denied a direct connection between the riot and a campus speech by defense attorney William Kunstler. California Governor Ronald Reagan has flown to Santa Barbara to consider local authorities' request for National Guard troops. [CBS]
- Fifty students took over a building on the Syracuse University campus to express support for the university administration, then left when threatened with legal action. [CBS]
- United Mine Workers president Tony Boyle named a union commission to investigate Joseph Yablonski's murder. Yablonski's sons denounced the commission as diverting attention from the federal grand jury probe. [CBS]
- President Nixon asked Congress to cut back 57 federal programs to save $2.5 billion a year. Congressional opposition is expected on some issues. [CBS]
- The Senate Appropriations Committee added a provision to the $19.4 billion Health, Education and Welfare bill in an attempt to escape another presidential veto. The provision would allow President Nixon to withhold 2% of the appropriated amount. [CBS]
- The House Ways and Means Committee tentatively approved President Nixon's welfare reform program providing grants for the working poor. The bill should win easy approval in the House. [CBS]
- Former Alabama Governor George Wallace said that he intends to run for governor in order to secure Alabama's "state's rights." Incumbent Governor Albert Brewer won't step aside, and may gain Republican support. [CBS]
- Lawrence O'Brien announced that he has declined the offer to become chairman of the Democratic party. [CBS]
- Sargent Shriver resigned as ambassador to France to prepare for a political campaign in Maryland; Shriver is expected to run for governor. But incumbent Governor Marvin Mandel wants to stay in office and thinks a party split between himself and Shriver may result in a Republican winning the office. If Shriver wins, his position for the 1972 presidential race will be strengthened. [CBS]
- French President Georges Pompidou ended three days of talks with President Nixon. The visit was cordial but policy differences remain unresolved. [CBS]
- Rhodesia's white supremacist government announced that the former British colony will become a republic on March 2. [CBS]
- The state of Georgia passed a law to prohibit the transfer of pupils or teachers between schools to achieve racial balance. That law directly contradicts federal law. [CBS]
- Florida and federal officials both oppose the construction of a nuclear power plant which could damage Biscayne Bay. The Florida Power and Light Company must guarantee the bay's safety before operating the plant. [CBS]
- The Labor Department reported that prices were up 0.3% in February. [CBS]
- Actress Mia Farrow gave birth to twin boys. Andre Previn is the father. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 764.45 (-3.83, -0.50%)
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 25, 1970 | 768.28 | 89.35 | 13.21 |
| February 24, 1970 | 754.42 | 87.99 | 10.81 |
| 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 |