News stories from Tuesday June 5, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Information from secondhand sources indicates that the deposition of former White House aide John Ehrlichman links President Nixon with prior knowledge of the Watergate break-in. According to the deposition, former aide Jeb Magruder said that he proceeded with wiretaps because the President wanted it. Ehrlichman also stated that presidential counsel John Dean was deeply involved. Magruder told him that G. Gordon Liddy threatened Magruder's life; Magruder fired him. Liddy was then named as counsel to Maurice Stans' finance committee.
Former Attorney General John Mitchell finally approved $250,000 for bugging the Watergate, McGovern headquarters and Democratic convention headquarters. After the telephone tap of Democratic party chairman Lawrence O'Brien was botched, Mitchell criticized Liddy. Contrary to his partner, E. Howard Hunt, Liddy said they must continue with a second break-in for the President. Ehrlichman said that Nixon was suspicious of Dean; he later fired him.
[CBS] - The Senate Watergate hearings resumed today. One witness said that she put political espionage material in former Attorney General John Mitchell's file.
Sally Harmony is a former secretary to convicted conspirator G. Gordon Liddy. Mrs. Harmony said she did not know that her work was illegal. Senator Daniel Inouye asked her if national security was involved in the logs and reports she typed; she replied that it was not. The reports were typed on "Gemstone" stationery; later their invoice was destroyed at the request of Jeb Magruder following the Watergate burglary. Harmony confirmed that there was a special file for Mitchell with Gemstone reports in it. The reports also went to H.R. Haldeman in the White House. Jeb Magruder is waiting for immunity before he testifies; Liddy refuses to testify at all. There are complications regarding Maurice Stans' availability.
[CBS] - Senate Republican leader Hugh Scott claims that President Nixon has reduced the amount of wiretapping and bugging compared to that of previous administrations. Scott said that wiretapping has been going on since the [Franklin] Roosevelt administration, and the Nixon administration's use of wiretapping is at the lowest level since World War II. Scott also thinks that President Nixon is a victim of the press and his political enemies. Scott stated that President knows exactly what is being attempted to be done to him.
Deputy White House press secretary Gerald Warren now says that the White House logs of meetings between John Dean and President Nixon will be released. Warren stated that he made a mistake when he said that the White House would not release the logs. Senate investigators planned to subpoena the logs anyway.
[CBS] - Washington Governor Daniel Evans said that President Nixon should meet with reporters and tell all that he knows about Watergate. [CBS]
- Gold prices continue to rise while the dollar plunges. Americans abroad are feeling the effects of devaluation. Lt. Bob Newton, who is stationed at Frankfurt, West Germany, said that he has the same number of dollars, but his rent is up 20%.
America's economic leadership in the world is threatened. Many Europeans feel that dollar devaluation is tied to Watergate.
[CBS] - Secretary of State Rogers said that there are five eligible countries to which U.S. war planes might be sold. Chile, Saudi Arabia, Iran and Kuwait are among the five. Israel is worried about the arms balance in the Mideast. [CBS]
- Three U.S. Air Force B-52 crewmen have been grounded for opposing the Cambodian bombing. [CBS]
- President Pompidou of France has canceled his appointments for the next two weeks because of health problems. [CBS]
- The Senate passed and sent to the House a bill regarding gasoline distribution. The bill is designed to help independent stations and small businesses get their fair share of fuel. [CBS]
- AAA released the results of a survey of gas stations along major highways: 7% are restricting gas, 1% are closed, 24% are limiting the hours they are open. [CBS]
- There are new concerns in the South in the aftermath of recent floods. Mosquitoes and weeds are big problems. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 900.81 (+14.90, +1.68%)
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* |
| June 4, 1973 | 885.91 | 102.97 | 11.23 |
| June 1, 1973 | 893.96 | 103.93 | 10.41 |
| May 31, 1973 | 901.41 | 104.95 | 12.19 |
| May 30, 1973 | 908.87 | 105.91 | 11.73 |
| May 29, 1973 | 925.57 | 107.51 | 11.30 |
| May 25, 1973 | 930.84 | 107.94 | 19.27 |
| May 24, 1973 | 922.44 | 107.14 | 17.31 |
| May 23, 1973 | 895.02 | 104.07 | 14.95 |
| May 22, 1973 | 892.46 | 103.58 | 18.02 |
| May 21, 1973 | 886.51 | 102.73 | 20.69 |