News stories from Wednesday August 19, 1970

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

The Senate rejected a new attempt to limit the deployment of anti-ballistic missiles. Four ABM sites were approved; the administration is pleased and will use the missiles as bargaining chips at the Strategic Arms Limitation Talks. [CBS] President Nixon has asked the Senate to ratify a 1925 treaty banning poison gas; it wouldn't ban tear gas, defoliants, or napalm. 85 nations have signed the treaty. [CBS] Israel displayed photos proving United Arab Republic cease-fire violations; the photos show that surface-to-air missile sites were moved after the cease-fire. The U.S. wants peace talks to begin and said that Israel's evidence is not conclusive. The State Department believes that the violations occurred, but it doesn't want to jeopardize the chances for peace talks. [CBS] Student leaders in Saigon charged that the South Vietnam government is not removing the Con Son Island prison tiger cages and is still using them. [CBS] The Army has dropped My Lai murder charges against Sgt. Kenneth Hodges due to insufficient evidence. [CBS] The Nixon administration revoked tax exemptions for 11 all-white private schools in Mississippi. [CBS] The administration will cancel a federal contract to a Pennsylvania company which is not hiring and training more minority workers as required under the "Philadelphia Plan". Future federal contracts will also be denied to Edgely Air Products; the company intends to fight the cancellation. [CBS] The Campus Unrest Commission opened hearings on the Kent State University shootings. University president Robert White testified that he wasn't informed the National Guard was coming and stated that the Guard's control of the campus is what prompted the students' violence. National Guard commander Sylvester Del Corso defended the Guard and said that the killings were self-defense.A commission member asked if Americans armed with rocks should be executed. [CBS] Attorney General John Mitchell says that the actions of youths may hurt candidates who they support because their violence has alienated Americans. [CBS] Linda Kasabian ended her testimony for the prosecution in Charles Manson's murder trial. [CBS] John Norman Collins was convicted and given life in prison for the 1969 murder of Karen Sue Beineman, who was the seventh victim of the "Co-Ed Murderer" in Michigan. [CBS] The freeholder's meeting in Monmouth, New Jersey won't let anyone talk until they salute the flag and pledge allegiance. [CBS] Former Army Capt. Roger Roffman claimed that the Army is trying to hush-up the drug problem in Vietnam. [CBS] The drug problem is not confined to Vietnam -- an estimated 8-12 million Americans use marijuana, and even middle-class adults use the drug. 55 tons of marijuana were seized on the Mexican border last year. Money for marijuana research is increasing but is still not enough. [CBS]

Stock Market Report

Dow Jones Industrial Average: 723.99 (+7.33, +1.02%)
S&P Composite: 76.96 (+0.76, +1.00%)
Arms Index: 0.80

	Issues	Volume*
Advances	803	6.00
Declines	471	2.80
Unchanged	286	1.08
Total Volume		9.88

* 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*
August 18, 1970	716.66	76.20	9.50
August 17, 1970	709.06	75.33	6.94
August 14, 1970	710.84	75.18	7.85
August 13, 1970	707.35	74.76	8.64
August 12, 1970	710.64	75.42	7.44
August 11, 1970	712.55	75.82	7.33
August 10, 1970	713.92	76.20	7.58
August 7, 1970	725.70	77.28	9.37
August 6, 1970	722.82	77.08	7.56
August 5, 1970	724.81	77.18	7.66