News stories from Thursday July 9, 1970

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

The Nixon administration attacked Southern desegregation holdouts; the Justice Department is suing school districts in Arkansas, Mississippi, South Carolina and Florida to force compliance by the time schools open this fall. More lawsuits are expected. [CBS] Defense Secretary Melvin Laird reported a speed-up in Vietnam troop withdrawals. [CBS] General George Casey was killed in a helicopter crash in Vietnam; he is the seventh U.S. general to be killed in Vietnam. [CBS] The Saigon government admitted that Nguyen Van Thieu's political opponents are in Con Son Prison cages, but claimed that International Red Cross inspectors rated the prison conditions as generally good. [CBS] The House rejected the Cooper-Church amendment without debate. Rep. Donald Fraser reported the implication that supporters of the bill would risk losing federal funds for their districts, and called it blatant intimidation. Rep. Gerald Ford stated that the bill's defeat is a victory for the President and the American people; President Nixon is elated. [CBS] Defense Secretary Melvin Laird reports that Russian ICBM sites are still being established. [CBS] Defense Secretary Laird says that the U.S. will insure the balance of power in the Mideast; the Mediterranean 6th Fleet is ready.The 6th Fleet is the basis for U.S. power in the eastern Mediterranean Sea, and its air strike capability is vast. But the Soviet fleet in the Mediterranean is a powerful threat to American carriers. Russia can multiply its fleet strength quickly, and the Soviet Navy is modern and effective. Long range aircraft keeps the balance in America's favor, for now. [CBS] Vice President Spiro Agnew claims that the U.S. economy is the strongest, soundest and fairest in the history of the world, and that recent gains by blacks are proportionally greater than gains by whites. [CBS] President Nixon has created the Environmental Protection Agency to consolidate anti-pollution efforts; he also created the National Oceanic and Atmospheric Administration, which will include the Weather Bureau. Both organizations are subject to Congress' veto. [CBS] The National Park Service has banned automobile traffic in parts of Yosemite National Park; free shuttle buses will replace cars. The goal is to eventually eliminate cars from the park entirely. [CBS] Democratic party chairman Lawrence O'Brien got free time on CBS; now Republicans want time to reply; Senator Robert Griffin stated that CBS is practicing unfair partisan politics. CBS president Frank Stanton claims that President Nixon has already been given more television time in his first 18 months than John Kennedy, Lyndon Johnson or Dwight Eisenhower in their first 18 months combined. [CBS] A safe full of military documents which was stolen from a U.S. Army base in Germany has been found in a river. [CBS] The IRS is checking public library files for people reading about explosives and other subversive matters. [CBS] Burlington County, New Jersey has ordered flag decals with the slogan "Our Flag, Love It or Leave It" to be placed on all county vehicles. [CBS] The Russian space program will reportedly concentrate on permanent orbiting space stations and leave moon shots to the United States. [CBS]

Stock Market Report

Dow Jones Industrial Average: 692.77 (+10.68, +1.57%)
S&P Composite: 74.06 (+1.06, +1.45%)
Arms Index: 1.09

	Issues	Volume*
Advances	1,056	9.24
Declines	288	2.75
Unchanged	224	0.83
Total Volume		12.82

* 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*
July 8, 1970	682.09	73.00	10.97
July 7, 1970	669.36	71.23	10.47
July 6, 1970	675.66	71.78	9.34
July 2, 1970	689.14	72.92	8.44
July 1, 1970	687.64	73.04	8.61
June 30, 1970	683.53	72.72	9.28
June 29, 1970	682.91	72.89	8.77
June 26, 1970	687.84	73.47	9.16
June 25, 1970	693.59	74.02	8.20
June 24, 1970	692.29	73.97	12.63