News stories from Thursday May 10, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A federal grand jury in New York City indicted John Mitchell and Maurice Stans for conspiracy and perjury. The indictments stem from grand jury investigations of a secret cash contribution of $200,000 to the Nixon re-election campaign by financier Robert Vesco. At the time of the contribution, Vesco was being investigated by the Securities and Exchange Commission for stock fraud. The jury claims to have found a link between the contribution and the efforts of Mitchell and Stans to help Vesco out of his SEC trouble. Harry Sears, President Nixon's New Jersey campaign chief, acted as a go-between. U.S. attorney Whitney Seymour stated that Mitchell and Sears arranged a meeting with the Securities and Exchange Commission for Vesco on the same day that the contribution was made. Mitchell called the indictments "irresponsible." [CBS]
- Former White House aide John Dean charged that there is a campaign under way to "get" him. Dean's attorney Robert McCandless released a statement by Dean today, claiming that there is an ongoing effort to limit him from testifying fully and freely. The statement hints that Dean has evidence implicating President Nixon in the Watergate affair. [CBS]
- More evidence of government misconduct has come to light in the case against Daniel Ellsberg and Anthony Russo. Judge Matthew Byrne disclosed that the FBI overheard Ellsberg on a wiretap in 1969 and 1970. Byrne ordered prosecutor David Nissen to find out the facts regarding the wiretap immediately. Ellsberg noted that the government has said dozens of times that there was no wiretap of him. The wiretap was not approved in advance by any judge, and Justice Department records of the wiretap have unaccountably disappeared. Ellsberg's psychiatrist, Lewis Fielding, said that Ellsberg's files were left out in plain view after his office was broken into, implying that the burglars saw the files and probably photographed them.
Florida states' attorney Richard Gerstein said that Cuban exile Filipe de Diego testified that he accompanied Bernard Barker and another Watergate defendant, Eugenio Martinez, to Los Angeles to burglarize Ellsberg's psychiatrist's office. Mr. de Diego said that the burglars believed the break-in was in the country's best interests, and he hinted at having taken part in other similar activities.
[CBS] - President Nixon announced the end of the "Super Cabinet" system in the wake of Watergate. White House press secretary Ron Ziegler reported that the President has told each cabinet member that he intends to have a direct line of communication with him.
Nixon named CIA director James Schlesinger to succeed Elliot Richardson as Defense Secretary; deputy CIA chief William Colby replaces Schlesinger. John Connally will act as a special unpaid adviser to the President. Pentagon attorney Fred Buzhardt has been named as special presidential attorney. Richardson insists that he will not keep the President informed about his Watergate investigation.
Former Republican youth campaign director Ken Rietz claims that the infiltration of peace groups by Republicans was limited but necessary to protect Nixon youth supporters at the national convention. Former Nixon campaign treasurer Hugh Sloan stated that within a week of the Watergate break-in, key White House aides were mobilizing to protect President Nixon. Sloan specifically mentioned John Ehrlichman and Dwight Chapin.
Republican governors meeting in New York City today issued no formal statement about Watergate. Julie Nixon Eisenhower talked about the effects of Watergate on the President, saying that Watergate has been difficult for her father but now things are coming under control.
[CBS] - The House voted against allocating funds for the Cambodian air war. Defense Secretary Elliot Richardson said that some other way will be found to finance the bombing and keep Lon Nol in power. [CBS]
- Sporadic fighting between Palestinians and the Lebanese army continued along the Lebanese-Syrian border today. [CBS]
- Astronauts Charles Conrad, Joseph Kerwin and Paul Weitz will join in space with the Skylab space laboratory on Tuesday; Skylab is to be launched Monday. Many experiments regarding man's ability to live in space for long periods of time will be conducted in Skylab. [CBS]
- William Simon, the chairman of the government's Oil Policy Committee, announced an apportioning plan to keep small and independent gas stations in business to minimize summer gasoline shortages. [CBS]
- The major auto makers announced that they will not challenge the government's new emissions standards for 1975. [CBS]
- Comedian Jack E. Leonard died following heart surgery today. [CBS]
- U.S. Steel announced a 4.8% price increase. [CBS]
- In sworn testimony, Watergate burglar James McCord quoted G. Gordon Liddy as saying that John Mitchell received logs of the conversations which were wiretapped at the Watergate. McCord also testified that Mitchell and John Dean approved a $¼ million espionage budget. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 939.34 (-9.71, -1.02%)
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* |
| May 9, 1973 | 949.05 | 110.44 | 16.05 |
| May 8, 1973 | 956.58 | 111.25 | 13.73 |
| May 7, 1973 | 950.71 | 110.53 | 12.50 |
| May 4, 1973 | 953.97 | 111.00 | 19.51 |
| May 3, 1973 | 945.67 | 110.22 | 17.76 |
| May 2, 1973 | 932.34 | 108.43 | 14.38 |
| May 1, 1973 | 921.21 | 107.10 | 15.38 |
| April 30, 1973 | 921.43 | 106.97 | 14.82 |
| April 27, 1973 | 922.19 | 107.23 | 13.73 |
| April 26, 1973 | 937.76 | 108.89 | 16.21 |