Can't switch Reed Relay

I wish these data sheet writers would learn to write better data sheets.

I am guessing that the coil power of 50/75 mW is the "hold" and "switch" ratings. If so, at 5V, the coil should draw about 14mA while switching, and less while holding. So, that should be perfectly within bounds of the Arduino.

However, it seems that specific model has a built-in flyback diode.

Do you have it connected up the right way to the Arduino? If it is backwards, then you will be bypassing the coil through the diode and nothing at all will happen.