News stories from Friday September 28, 1973

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

A federal judge refused to stop the Baltimore grand jury from hearing evidence regarding kickback allegations against Spiro Agnew. Agnew's lawyers and Justice Department officials met with Judge Walter Hoffman, and the lawyers also filed an affidavit and a memo regarding the Vice President's constitutional rights.In a new allegation, a Washington, DC-based urban planner said that his company received a federal contract, then pressure was placed on him to pay off Agnew for recommending his company for the job. Maryland building contractor Lester Matz and Agnew's chief of staff were reportedly involved. [CBS] President Nixon's 1972 re-election committee has been forced to reveal secret contributors and contributions. Corporate contributions and major individual contributors were named and their expenditures reviewed. [CBS] Two Arab guerrillas intercepted a Moscow-Vienna train in Marchegg, Austria; the train was filled with Soviet Jews on their way to Israel. The Arabs took over the train and seized four hostages. The terrorists demanded safe passage to an Arab country and the closing of the Schoenau Jewish transit facility or they would kill the hostages. [CBS] President Nixon and Soviet foreign minister Andrei Gromyko met in Washington to discuss the trade bill and Russia's favored nation trade status. [CBS] The Soviet Union has sent its excess wheat to India. It is unclear if the Russian wheat surplus came from America during last year's wheat deal. [CBS] A bomb exploded at the ITT building in New York. Damage was extensive but there were no injuries. Police received a call indicating that the radical Weathermen group was behind the explosion. A smaller bomb exploded at the ITT office in Rome, Italy. [CBS] Another terrorist bomb exploded in London, England, injuring six people. [CBS] The number of U.S. B-52 bombers in Southeast Asia is being scaled down. More planes have left Guam to return stateside. [CBS] India released numerous Pakistani POWs who had been held since December, 1971. The freed prisoners will swamp their homeland; relocating people from one poor country to another may not help the economic situation at all. [CBS] The Cost of Living Council decided to allow retail price increases on gasoline. [CBS] The Agriculture Department reported an 8% monthly drop in the prices of raw farm products. But it is uncertain that consumers will see any decline in retail beef and pork prices because of retailer markup. [CBS] The Teamsters union and the United Farm Workers have reached a settlement regarding the representation of workers for fruit and vegetable growers. [CBS] The Senate overrode President Nixon's attempt to delay pay increases for federal government employees. The pay increases will take effect immediately. [CBS] A federal consumer organization proposed a nationwide system of small claims courts. [CBS] Rescue teams continue to search for a Texas International airlines turboprop which was lost over Arkansas. A helicopter involved in the search crashed, killing three persons. [CBS] The condition of former United Mine Workers leader Tony Boyle, who attempted suicide earlier this week, has improved. The Justice Department requested that Boyle be placed in federal custody. [CBS] The world monetary conference in Nairobi, Kenya, failed to agree on monetary reforms. It will meet again next year for more talks. [CBS] The Army Corps of Engineers has proposed a scenic "facelift" for the American side of Niagara Falls, but geologists believe that tampering with nature may cause more damage than good. [CBS] Former Democrat John Connally unintentionally made a mistake in his speech before a Republican women's conference in Los Angeles. Connally stated that Vice President Spiro Agnew is entitled to fair treatment, but then said that he believes Agnew will be found guilty in the end. Connally apologized profusely later at a press conference. [CBS]

Stock Market Report

Dow Jones Industrial Average: 947.10 (-6.17, -0.65%)
S&P Composite: 108.43 (-0.65, -0.60%)
Arms Index: 1.13

	Issues	Volume*
Advances	684	6.24
Declines	770	7.91
Unchanged	342	2.15
Total Volume		16.30

* 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*
September 27, 1973	953.27	109.08	23.66
September 26, 1973	949.50	108.83	21.13
September 25, 1973	940.55	108.05	21.53
September 24, 1973	936.71	107.36	19.49
September 21, 1973	927.90	107.20	23.76
September 20, 1973	920.53	106.76	25.96
September 19, 1973	910.37	105.88	24.57
September 18, 1973	891.26	103.77	16.40
September 17, 1973	892.99	104.15	15.10
September 14, 1973	886.35	104.44	13.76