News stories from Monday May 7, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon issued a statement on the Watergate case from the Florida White House, denying any involvement in the Watergate scandal. Press secretary Gerald Warren read the statement of the denial of the President's participation in the Watergate bugging or cover-up, and the denial that he offered clemency to anyone involved in the scandal. The statement fell short of saying that President Nixon had no knowledge of the Watergate cover-up. Newsweek magazine reports that John Dean is telling investigators that Nixon was involved in the Watergate cover-up.
John Connally was seen at the Florida White House, increasing speculation that he may be offered a post in the administration.
Former Nixon campaign treasurer Hugh Sloan testified that he told prosecutor Earl Silbert and the grand jury before the Watergate trial of pressure to commit perjury. Sloan claimed that campaign aides Jeb Magruder and Fred LaRue urged him to testify that he had given G. Gordon Liddy and others indicted in the break-in only $40,000 rather than $235,000 in order to facilitate the cover-up story. Sloan said that he tried to go through aides H.R. Haldeman and John Ehrlichman to get word to President Nixon of the planned cover-up and perjury, but could not. Although Sloan allegedly told Silbert all of this, no mention was ever made of it in the trial. It has been learned that Silbert is refusing to grant immunity to John Dean for his grand jury testimony. Dean has said that he has information implicating Haldeman and Ehrlichman as well as Nixon himself, but he refuses to give the details unless he is granted immunity. Silbert declined to say whether he has talked with Attorney General Elliot Richardson about immunity for Dean.
[CBS] - Attorney General-designate Elliot Richardson announced that he will appoint an independent prosecutor to the Watergate case. Richardson noted that because he is an appointee of the Nixon administration, his integrity in prosecuting the Watergate could be questioned. Richardson will ask for Senate approval of his choice for prosecutor. [CBS]
- Former assistant Attorney General Robert Mardian declined to answer Watergate grand jury questions about his activities as a campaign official. Judge John Sirica then ordered Mardian to testify. Sirica will soon hold a hearing to decide what to do with the documents from John Dean's safe. [CBS]
- The Pentagon Papers trial is almost at a standstill. Today Judge Matthew Byrne gave defense attorneys a transcript of the testimony of E. Howard Hunt which states that former Nixon attorney Charles Colson once ordered him to fake State Department papers in order to suggest John F. Kennedy's involvement in the death of South Vietnam President Diem; Colson denied ever ordering Hunt to falsify those documents. Judge Byrne also gave the defense a statement from former White House aide Egil Krogh which claims that President Nixon personally ordered the investigation of Daniel Ellsberg. Krogh said that John Ehrlichman approved covert operations against Ellsberg, and Colson paid $2,000 to the Cubans who carried out the break-in. The judge released pictures taken by Hunt and G. Gordon Liddy as they plotted the break-in at the office of Ellsberg's psychiatrist. Byrne told prosecutor David Nissen that the burden of proof is on the government to show that its case against Ellsberg and Anthony Russo has not been tainted by that burglary.
Hunt claims that the CIA aided in the break-in against Ellsberg. The New York Times reported that Ehrlichman asked for and received CIA help; General Robert Cushman is said to have authorized that help. Senator John McClellan stated that the committee which oversees the CIA will investigate. General Cushman, one-time deputy CIA chief, is now a Marine Corps commandant. He is presently visiting the Netherlands. Cushman has been instructed by the office of the Secretary of Defense not to comment on the case.
[CBS] - The Washington Post has been awarded a Pulitzer Prize for distinguished public service for its investigative reporting of the Watergate case. Reporters Carl Bernstein and Bob Woodward were given the majority of the credit for uncovering the story. [CBS]
- American Consul General Terrance Leonhardy was kidnapped in Guadalajara, Mexico, last Friday. He remains in the hands of leftist terrorists. On Saturday, Mexico released 30 political prisoners in exchange for Leonhardy's release. Terrorists still hold Leonhardy, however, and now demand safe conduct out of Mexico as well as money before releasing him. The American embassy received a letter supposedly written by Leonhardy, saying that he is well and expects to be released. [CBS]
- North Vietnam announced plans to invite the relatives of American servicemen who were killed in North Vietnam to visit the servicemen's graves. [CBS]
- In Laos, the Pathet Lao said it is disengaging itself from any alliance with "neighboring" Communist forces. Until now North Vietnam has used Laos as a route into South Vietnam. [CBS]
- Israel celebrated its 25th anniversary with a military parade today in Jerusalem. The parade highlighted a day of celebrations. Arabs feel that the parade was unnecessarily provocative. [CBS]
- Lebanon declared a state of emergency as fighting with Palestinian guerrillas resumed. [CBS]
- The Catholic Church in Poland attacked a Communist education plan which they say would eliminate the church in that country. [CBS]
- Indians occupying Wounded Knee, South Dakota, have agreed to disarm on Tuesday. [CBS]
- The Supreme Court ruled that the 1964 Voting Rights Act must be applied when states reapportion their legislatures. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 950.71 (-3.26, -0.34%)
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* |
| May 4, 1973 | 953.97 | 111.00 | 19.51 |
| May 3, 1973 | 945.67 | 110.22 | 17.76 |
| May 2, 1973 | 932.34 | 108.43 | 14.38 |
| May 1, 1973 | 921.21 | 107.10 | 15.38 |
| April 30, 1973 | 921.43 | 106.97 | 14.82 |
| April 27, 1973 | 922.19 | 107.23 | 13.73 |
| April 26, 1973 | 937.76 | 108.89 | 16.21 |
| April 25, 1973 | 930.54 | 108.34 | 15.96 |
| April 24, 1973 | 940.77 | 109.99 | 13.83 |
| April 23, 1973 | 955.37 | 111.57 | 12.58 |