News stories from Friday August 31, 1973

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

Rescue teams have so far failed in their attempt to reach the minisub which is stranded on the ocean floor off the Irish coast. The two crewmen, Roger Chapman and Roger Mallinson, risk death from carbon monoxide poisoning. Rescue teams have increased their efforts, and a U.S. robot drone will attempt to raise the sub. [CBS] Vice President Spiro Agnew and President Nixon will meet in Washington on Saturday to discuss the Maryland corruption probe involving Agnew. Spokesmen for the President and Vice President denied that Agnew's resignation would be the topic of the meeting and also denied that President Nixon's recent meetings with John Connally have anything to do with Connally being Agnew's replacement. [CBS] Senate Watergate committee counsel Sam Dash questioned the State Department regarding the Agnew probe and its possible investigation by the Watergate committee. [CBS] Congressman Jack Brooks' subcommittee is looking into improvements made on President Nixon's properties in California and Florida. Brooks claims that the dates on the document of sale have been altered; the White House denied the accusations. [CBS] President Nixon ordered a 60-day delay for government employees' pay raises. Congress may overturn the order within 30 days. [CBS] House Ways and Means chairman Wilbur Mills underwent back surgery. A full recovery is expected. [CBS] Seven members of Vietnam Veterans Against the War and one supporter were found not guilty in the "Gainesville 8" conspiracy trial. One defense lawyer said that the verdict came from the American people who are tired of government prosecution. [CBS] The government's involvement in conspiracy trials failed to stop the antiwar movement, as the government's cases against crimes allegedly committed by antiwar movement organizations found little basis in court cases. These cases included the Dr. Spock conspiracy trial, the Berrigans' trial (the "Harrisburg 7"), the "Chicago 8", "Seattle 8", "Camden 28" and the Pentagon Papers trials.Government arguments rely heavily on informers in antiwar cases, and radical lawyer William Kunstler believes the government lost cases because of that reliance. William Olson, the former director of the Internal Security Division at the Justice Department, stated that the government intended to prosecute federal crimes which were committed by the antiwar movement and its sympathizers, but said that the government had no intention of blunting the movement. [CBS] Police are checking leads regarding the latest incident of bombing terrorism in London, England. [CBS] At the recent Communist party congress in Peking, Chou En-lai admitted that former defense minister Lin Piao died in a plane crash after attempting a coup against Chairman Mao. The plane crashed during his attempt to flee to Russia. [CBS] Two opposition parties in Canada called for higher wages to halt the rail strike. [CBS] The cholera epidemic in Italy continues to spread; the death toll has reached nine. A shortage of vaccines is causing protest and panic. [CBS] Officials in Kenya placed a temporary ban on all elephant and ivory hunting to save the herds from extinction. [CBS] A tough new drug law goes into effect in New York tomorrow. The drug bill was approved by the legislature last May; an extensive advertising program is underway to explain the new law. Lawyers criticized the law as forgetting about the real problem and simply throwing drug offenders in jail for long periods of time. Some believe that arrests for drug charges will become more dangerous for police due to the severity of the new law. [CBS] Consumer advocate Ralph Nader requested that the Federal Aviation Administration temporarily ban airport X-ray devices because of possible safety issues. [CBS] The White House proposed mandatory propane allocations to areas with more demand than supply. Midwestern and rural areas are the most affected. [CBS] Travelers should be able to find open gasoline stations along the nation's roads this weekend. But no relief from the current heat wave is expected. [CBS] Some communities are trying new solutions to the problems of traffic congestion and the resulting pollution. In Haddonfield, New Jersey, residents can call for a bus to get transportation without pollution problems. Customers have reacted favorably to the door-to-door bus system. "Dial-a-Ride" spokesman Thomas Betten believes that his bus service has eased smog and traffic jams. [CBS]

Stock Market Report

Dow Jones Industrial Average: 887.57 (+5.04, +0.57%)
S&P Composite: 104.25 (+0.37, +0.36%)
Arms Index: 0.82

	Issues	Volume*
Advances	915	6.29
Declines	462	2.62
Unchanged	365	1.63
Total Volume		10.54

* 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*
August 30, 1973	882.53	103.88	12.10
August 29, 1973	883.43	104.03	15.69
August 28, 1973	872.07	103.02	11.81
August 27, 1973	870.71	102.42	9.74
August 24, 1973	863.49	101.62	11.20
August 23, 1973	864.46	101.91	11.39
August 22, 1973	851.90	100.53	10.77
August 21, 1973	857.84	100.89	11.48
August 20, 1973	867.40	101.61	8.97
August 17, 1973	871.84	102.31	11.11