News stories from Monday August 17, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- At a meeting of VFW veterans today, Vice President Spiro Agnew attacked Senate doves and the McGovern-Hatfield amendment. Agnew called the amendment a blueprint for U.S. defeat and chaos in Southeast Asia, and he praised the Cambodian invasion; Agnew received a standing ovation. Senator George McGovern said that Agnew is wrong and is taking a mistaken course.
An amendment to end the war would lose now in Congress, but changes are being made.
[CBS] - China signed a military aid agreement with Prince Norodom Sihanouk's Cambodian government in exile. [CBS]
- American B-52s hit Communists who were attacking seven bases in northern South Vietnam. [CBS]
- Israel and the U.S. are at odds over Israeli charges that the United Arab Republic has violated the Mideast cease-fire. Foreign Minister Abba Eban criticized the U.S. for impugning Israel's integrity. The Nixon administration is irritated at the Israeli charges and their refusal to start peace talks; Israel won't talk peace until the U.S. admits that the charges of cease-fire violations are true and takes diplomatic action. [CBS]
- U.S. oil import laws are being debated; present quotas protect the American oil industry and keep prices high. President Nixon rejected a move to substitute tariffs for quotas, saying that he will revise the quota system. Oil companies are pleased. [CBS]
- The Water Hygiene Bureau reported that 16% of American water systems are potentially hazardous; 25% are inferior in taste, odor, or color, but are still safe to drink. [CBS]
- Explosions hit Minneapolis, Minnesota, and Omaha, Nebraska. In Minneapolis, a blast ripped the federal building; 24 sticks of dynamite caused $500,000 damage. Six false bomb threats followed the blast. In Omaha, a fake call for help lured policemen to a house where a bomb in a booby-trapped suitcase killed one and injured seven. [CBS]
- Linda Kasabian stated that she's an emissary from God who was sent to show Charles Manson as a devil and a false prophet. [CBS]
- The Soviets have launched their seventh unmanned probe of Venus. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 709.06 (-1.78, -0.25%)
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 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 |
| August 4, 1970 | 725.90 | 77.19 | 8.31 |
| August 3, 1970 | 722.96 | 77.02 | 7.65 |