News stories from Tuesday January 13, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Nigeria is still refusing to permit relief flights to Biafra. President Nixon has received no answer from the Nigerian government as to when or if the U.S. can bring in food and medicine to the Biafrans. The Soviet Union charged that Western oil companies are behind Biafra's secession and they called the collapse of the rebellion a fiasco for Western powers. [CBS]
- A budget squeeze has hit the space program, which faces a 25% cutback in employment. NASA's hope for the future includes a reusable "space shuttle" and a space station. There is the possibility of a lengthy interruption in manned space flight after 1974. [CBS]
- A three-judge federal court in Washington dealt a financial setback to private schools which are being hastily created in Mississippi as alternatives to desegregation. The judges issued a temporary injunction forbidding federal tax-exempt status for those schools and denying tax deductions to persons contributing to them. Mississippi Governor John Bell Williams is appealing to the state legislature to give tax relief to private schools and their supporters. [CBS]
- In Chicago, Georgia state legislator Julian Bond testified that two defendants in the 1968 Democratic convention conspiracy trial told him months beforehand that they feared violence would occur at the convention. [CBS]
- Martin Luther King's body was reburied near the church where he preached. The new burial site will become a permanent memorial to the civil rights leader who was assassinated almost two years ago. [CBS]
- Josiah Spaulding, a politician who has never held an elected office, announced his candidacy for the Republican nomination for Edward Kennedy's Senate seat. Part of Spaulding's strategy is to ignore the incident on Martha's Vineyard; he doesn't want to stir up a sympathy vote for Kennedy which might endanger the entire Republican ticket. No leading Republican in Massachusetts believes that Spaulding or anyone else can defeat Kennedy.
In Texas, Republican Congressman George Bush of Houston announced his candidacy for Democrat Senator Ralph Yarborough's seat.
[CBS] - There were scattered anti-American demonstrations in Australia shortly after the arrival of Vice President Spiro Agnew. Agnew told reporters that some of the Asian leaders he has met publicly criticized the U.S. presence in their countries but privately asked Americans to stay. [CBS]
- Moscow announced that the Soviet Union has resumed border talks with China in Peking. The Soviets are hopeful of a settlement despite propaganda from both sides. [CBS]
- Israel reported that its jet fighters struck within eight miles of Cairo. Egypt claims that the Israelis were driven off before they could reach their objective. [CBS]
- Welfare Secretary Robert Finch asked Congress to take action on the welfare reform plan which President Nixon proposed five months ago. The reform was designed to help recipients work themselves off welfare rolls. In a speech to the National Press Club, Finch accused Congress of planning to scuttle the reform. [CBS]
- Four big oil companies -- Union, Mobil, Texaco and Gulf -- are charged with criminally polluting California state waters. The local district attorney who filed the report said he's afraid he could be jailed for his actions and expects the oil companies to seek contempt citations against him for hauling them into court. [CBS]
- The White House announced that an old friend of President Nixon, California attorney Murray Chotiner, has been named special counsel to the President. [CBS]
- More than 200 young Americans are being honored by Fidel Castro's regime for helping the Cubans cut their sugar cane. Havana said that another group of 400 students is expected in Cuba shortly to help with the 1970 harvest. [CBS]
- Yakubu Gowon, the leader of Nigeria, assured the U.S. State Department that food supplies are now being delivered to the Biafrans. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 788.01 (-2.51, -0.32%)
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* |
| January 12, 1970 | 790.52 | 91.70 | 8.90 |
| January 9, 1970 | 798.11 | 92.40 | 9.38 |
| January 8, 1970 | 802.07 | 92.68 | 10.67 |
| January 7, 1970 | 801.81 | 92.63 | 10.01 |
| January 6, 1970 | 803.66 | 92.82 | 11.46 |
| January 5, 1970 | 811.31 | 93.46 | 11.49 |
| January 2, 1970 | 809.20 | 93.00 | 8.06 |
| December 31, 1969 | 800.36 | 92.06 | 19.38 |
| December 30, 1969 | 794.68 | 91.60 | 15.80 |
| December 29, 1969 | 792.37 | 91.25 | 12.51 |