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Thursday January 18, 1973
. . . where the 1970s live forever!

News stories from Thursday January 18, 1973


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

  • Peace is apparently near in Vietnam. White House press secretary Ron Ziegler stated that Henry Kissinger will meet with Le Duc Tho and Xuan Thuy again in Paris on January 23 for the purpose of completing a cease-fire settlement. Apparently a broad agreement has been reached, which President Thieu has accepted. General Alexander Haig is returning to Saigon after a short trip to Bangkok.

    A draft agreement could be signed by the end of next week, and the public peace talks in Paris may be discontinued. In Paris, U.S. negotiator Heyward Isham said that both sides have agreed to more meetings which may take place at some future date. While the public peace talks are suspended for now, technical experts are holding long, private meetings and Kissinger is due to return to Paris soon.

    In South Vietnam the idea of peace is not completely welcome. Saigon feels that peace is very near between the U.S. and North Vietnam, but some in South Vietnam suspect the U.S. of selling them out. [CBS]

  • In Vietnam this week U.S. losses include two dead, six missing in action and 11 wounded. South Vietnam had 476 dead and claims to have killed 1,757 enemy troops. [CBS]
  • The Pentagon has moved troops into Washington, DC in case of violence during the presidential inauguration; several demonstrations are planned. Ceremonies began today with a reception for Vice President and Mrs. Agnew. Tonight Bob Hope, Frank Sinatra, Sammy Davis, Jr. and other stars will entertain. [CBS]
  • The Watergate case came to a temporary halt as attorneys debated the admissibility of wiretap evidence. Prosecutor Earl Silbert said that he would have serious problems proving the Watergate conspiracy case without the use of tapped telephone conversations to show motive. But personal information of Democratic party officials is on the tapes, which could have been used to compromise them. [CBS]
  • Senate Democrats acted to limit the circumstances under which administration officials could refuse to testify to congressional committees. Today Republicans announced bipartisan legislation to limit the President's power to make war. [CBS]
  • The Senate confirmed the nomination of Frederick Dent as Commerce Secretary and Claude Brinegar as Transportation Secretary. Labor Secretary-designate Peter Brennan appeared before Congress today.

    Yesterday Caspar Weinberger was questioned by Congress but gave few answers to questions. Today Peter Brennan answered questions and joked with Senator Jacob Javits, who reminded Brennan that the last organized labor man who was Labor Secretary (Martin Durkin, who served under Dwight Eisenhower) lasted less than a year. Senator Javits asked Brennan why he might not suffer the same fate as Durkin. Brennan replied that the rest of Eisenhower's cabinet didn't accept Durkin, but President Nixon's cabinet will treat Brennan as their equal. Brennan says he would not discriminate in labor matters but won't allow people to push him around. Blacks and women's groups testified against Brennan, but the committee will confirm him. [CBS]

  • Transportation industries warned that fuel shortages may cause them to curtail services by the end of the month. They appealed to the White House for help. [CBS]
  • A Fairfield, California, jury convicted Juan Corona of the murder of 25 migrant workers. Defense attorney Richard Hawk moved for another trial and called the jury "stupid." Evidence against Corona was said to be plentiful, but circumstantial. [CBS]
  • General William DePuy testified that a section of the Pentagon Papers could have helped North Vietnam plan its massive offensive against South Vietnam last spring. DePuy was testifying against Daniel Ellsberg and Anthony Russo at the Pentagon Papers trial in Los Angeles. [CBS]
  • The Nixon administration is planning to change the rules for broadcasting stations license renewals. The new law would put into effect the demand of White House telecommunications adviser Clay Whitehead that local stations exercise more control over network program content, especially news content. Democrats in Congress, who will oversee hearings regarding the new law, criticized the administration's intentions. Massachusetts congressman Torbert MacDonald said that the revision is being dictated by "Nixon network neurosis." [CBS]
  • AT&T awarded $38 million to 15,000 minority and female workers to compensate for job discrimination in past years. [CBS]
  • 1972 was a bad year for wine in Italy. To prevent economic disaster, wine makers put additives in their new wine so it could be sold sooner. But the additives in the wine are a health hazard; sodium nitrate can cause paralysis and death. [CBS]
  • Drug advocate Dr. Timothy Leary was returned to U.S. authorities by Afghanistan. [CBS]
  • The adoption of a Chicano child was granted to black foster parents in Houston. Mr. and Mrs. James Adams have been the foster parents of Victor for four years. Now a judge has granted them the right to adopt the child, against the wishes of the welfare agency which argued that the race and age of the foster parents makes adoption undesirable. Mrs. Adams said she will tell Victor he can stay with them forever and he doesn't have to worry anymore. [CBS]
  • Six persons were murdered in Washington, DC at a home listed as the "American Muslim Headquarters"; two others were wounded. Four men were seen running from the building. The home is owned by Lew Alcindor, the basketball star now known as Kareem Abdul-Jabbar. [CBS]


Stock Market Report

Dow Jones Industrial Average: 1029.12 (0.00, 0.00%)
S&P Composite: 118.85 (+0.17, +0.14%)
Arms Index: 0.86

IssuesVolume*
Advances6948.10
Declines7437.50
Unchanged3572.21
Total Volume17.81
* 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
DateDJIAS&PVolume*
January 17, 19731029.12118.6817.68
January 16, 19731024.31118.1419.17
January 15, 19731025.59118.4421.52
January 12, 19731039.36119.3022.23
January 11, 19731051.70120.2425.05
January 10, 19731046.06119.4320.88
January 9, 19731047.11119.7316.83
January 8, 19731047.86119.8516.84
January 5, 19731047.49119.8719.33
January 4, 19731039.81119.4020.23


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