News stories from Wednesday July 22, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Scientists report that saccharin is safe, but they want more research. [CBS]
- Interior Secretary Walter Hickel charged 13 companies with causing mercury water pollution and gave their names to the Justice Department. [CBS]
- 600 Hindu pilgrims died in a flash flood in India. [CBS]
- 741 passengers and crew were rescued from the burning ship "Fulvia". [CBS]
- Egypt responded to the United States peace initiative, saying that they will accept a cease-fire and talks; Israel opposes the cease-fire. The U.S. will ask the Soviet Union and United Arab Republic for a total military halt during the 90-day truce. [CBS]
- Five United States helicopters were downed in South Vietnam; the U.S. bombed North Vietnam; Communists ambushed Cambodians near Kiri Rom. [CBS]
- Cambodian Premier Lon Nol received a promise of military aid from Thailand, but no mention of troops. [CBS]
- Six Arabs hijacked a Greek airliner from Athens to Cairo. The captors demanded the release of seven prisoners from Greek jails; the airline passengers were released, but the crew is still being held hostage. [CBS]
- A soldier tried to hijack a plane from Saigon to Hong Kong; he failed, and then surrendered to police. [CBS]
- A Philadelphia judge named four men to reorganize the Penn-Central Transportation Company: Willard Wirtz, George Baker, Jervis Langdon and Richard Bond. Retired Penn-Central board chairman Stuart Saunders says that the railroad is unmanageable due to inflation, recession and tight money. The Federal Reserve said that giving Penn Central a loan would only have postponed its bankruptcy. [CBS]
- A New York City power generator is out for the rest of the summer, resulting in a 15% decrease in electrical capacity. [CBS]
- A presidential task force recommends that the administration stop giving money to cities which don't increase low and middle income housing. [CBS]
- The National Council on Organized Crime held its first meeting and vowed to break up organized crime within six years, though it offered few specifics. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 724.67 (+2.60, +0.36%)
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* |
| July 21, 1970 | 722.07 | 76.98 | 9.94 |
| July 20, 1970 | 733.91 | 77.72 | 11.66 |
| July 17, 1970 | 735.08 | 77.69 | 13.87 |
| July 16, 1970 | 723.44 | 76.34 | 12.20 |
| July 15, 1970 | 711.66 | 75.23 | 8.86 |
| July 14, 1970 | 703.04 | 74.42 | 7.36 |
| July 13, 1970 | 702.22 | 74.48 | 7.45 |
| July 10, 1970 | 700.10 | 74.57 | 10.16 |
| July 9, 1970 | 692.77 | 74.06 | 12.82 |
| July 8, 1970 | 682.09 | 73.00 | 10.97 |