News stories from Tuesday November 13, 1973

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

The House passed a bill to allocate oil supplies; the Senate approved construction of the Alaska pipeline. The oil industry called for rationing of gas and fuel oil. The bill passed by Congress requires oil companies to pay damages for any oil spills after shipments begin. Alaska believes that its future will be rich once pipeline construction gets underway. [CBS] A committee of the National Petroleum Council called for gasoline rationing. Because there is no chance for increasing petroleum imports, the council recommended that rationing begin immediately. But Treasury Secretary George Shultz feels that gasoline rationing should only be a last resort.Senate Democratic leader Mike Mansfield complained that President Nixon waited too long to have Congress begin emergency energy legislation. House and Senate committees approved year-round daylight savings time. Commerce Secretary Fred Dent reported that private industry consumes most of the nation's energy. [CBS] Former White House chief of staff H.R. Haldeman has maintained contact with President Nixon although he was fired six months ago over Watergate. Haldeman is in regular contact with the President and remains a major influence at the White House. Press secretary Ron Ziegler denied placing calls to Haldeman. [CBS] The Senate Watergate Committee voted to request a meeting with President Nixon to discuss Watergate; Lowell Weicker proposed the motion. Howard Baker planned to meet with the President along with other Republican Senators later in the day.Hearings continued today with American Shipbuilding Company spokesman Matthew Clark testifying that corporate contributions went to the Nixon re-election campaign through employee "bonuses", and a company lawyer told employees to lie to the FBI about the contributions. The bonuses added up to $25,000 and the chairman of the board added another $75,000; the contributions were given to Herbert Kalmbach. American Shipbuilding admitted that its actions were wrong, but the company claimed to be initially unaware of the illegality of the contributions. Wilbur Bennett, a spokesman for the 3M company, met privately with the committee and confessed that his firm made illegal contributions. Two more companies, Gulf Oil and the Ashland Petroleum Company, made illegal contributions to the Nixon campaign and to the campaigns of Wilbur Mills and Henry Jackson. The companies were fined. [CBS] The House Judiciary Committee approved the appointment of a special Watergate prosecutor who will be answerable to the courts, and not the executive branch. The committee adopted an amendment to appoint a panel that will be responsible for naming the prosecutor. Representative Tom Railsback proposed that the special prosecutor report to the chairman and the ranking Republican on the committee each month regarding information on any impeachable crime committed by the President. [CBS] Israeli Premier Golda Meir told her Parliament that Israel won't withdraw to the October 22 cease-fire line, but will eventually return to the 1967 peace lines. Israeli and United Nations troops continue to be at odds with each other.United Nations troops replaced Israeli troops at checkpoints for supplies going to the trapped 3rd Egyptian army, thus upsetting the Israelis. Israeli troops turned back a group of reporters on the road from Cairo to Suez City; the reporters were forcibly removed. Another confrontation between United Nations troops and Israeli forces occurred further up the road. Defense Minister Moshe Dayan visited some of the checkpoints. [CBS] Secretary of State Henry Kissinger held a meeting with Mao Tse-tung before his departure from China. U.S. policy toward China won't change, according to Kissinger. [CBS] Kissinger explained the situation in the Mideast to China while other diplomats sought to patch up relations with the U.S.'s European friends. Europe's refusal to support Israel was brought on by their fear of an energy crisis. There is a breach between the Europeans themselves and between Europe and the United States. [CBS] The Nixon administration rejected the desegregation plans of colleges in nine states. [CBS] A state of national emergency has been declared in Britain; gasoline rationing is likely. [CBS] The royal wedding of Princess Anne to Mark Phillips will take place tomorrow, but the aggressive commercialization surrounding the wedding isn't working; citizens are reacting with indifference. Live coverage of the wedding begins at 5 a.m. EDT. [CBS]

Stock Market Report

Dow Jones Industrial Average: 891.03 (-6.62, -0.74%)
S&P Composite: 104.36 (-0.08, -0.08%)
Arms Index: 0.66

	Issues	Volume*
Advances	389	6.06
Declines	1,149	11.84
Unchanged	279	2.41
Total Volume		20.31

* 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*
November 12, 1973	897.65	104.44	19.25
November 9, 1973	908.41	105.30	17.32
November 8, 1973	932.65	107.02	19.65
November 7, 1973	920.08	105.80	16.57
November 6, 1973	913.08	104.96	16.43
November 5, 1973	919.40	105.52	17.15
November 2, 1973	935.28	107.07	16.34
November 1, 1973	948.83	107.69	16.92
October 31, 1973	956.58	108.29	17.89
October 30, 1973	968.54	109.33	17.58