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Tuesday May 15, 1973
. . . where the 1970s live forever!

News stories from Tuesday May 15, 1973


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

  • Senator Stuart Symington claims that almost immediately after the Watergate break-in, White House aides began a campaign to get the CIA to take the blame for it. Symington stated that deputy CIA director Vernon Walters testified to a chain of events that began when Walters and CIA director Richard Helms were called to the White House for a meeting with H.R. Haldeman and John Ehrlichman. Walters was allegedly told by Haldeman that Watergate might be exploited by the opposition, and he was instructed to go to acting FBI chief L. Patrick Gray and tell him that if the FBI pursued the investigation of funds in Mexico which were connected to Watergate, it would compromise certain CIA activities in Mexico. Walters gave Gray the message and later was called back to the White House by John Dean and asked if the CIA could put up bail for the Watergate spies and pay their salaries while they were in jail; Walters refused. Helms will be questioned by congressional investigators tomorrow.

    The Washington Star News reports that John Dean has no evidence to prove that President Nixon was involved in Watergate. Dean denied writing a Watergate report as the President has claimed. The Senate Watergate committee voted to seek immunity for Dean. Dean swore out a deposition in the Common Cause suit against the Nixon re-election campaign committee. He stated that the President delayed to the last minute before signing the new campaign reporting law in order to allow his campaign to get one last flood of anonymous contributions. Dean said he was told to help the Nixon campaign and at one point wrote a memo for G. Gordon Liddy, who was campaign counsel at the time. The Watergate prosecution wants to look at files of Dean, John Ehrlichman and H.R. Haldeman. Prosecutor Earl Silbert made the request to Leonard Garment.

    President Nixon talked to the leaders of Congress about changing campaign procedures. He proposed a 17-member commission to study the problem of campaign reform, and also proposed a single six-year term for President and four-year terms for House members. Senator Mike Mansfield said that the proposals are a step in the right direction.

    Federal judge Harold Tyler has rejected the job of special Watergate prosecutor which was offered to him by Attorney General-designate Elliot Richardson. [CBS]

  • As Attorney General, John Mitchell was accused of trying to influence Supreme Court decisions on wiretapping. Mitchell called that report "irresponsible", but CBS has more details on Mitchell's actions. Mitchell's press secretary Jack Landau now admits that Mitchell sent him secretly to the Supreme Court in March of 1969 with documents regarding wiretaps. Mitchell's intention was to get the Court to reverse or modify its recent rulings on wiretaps. Landau met with Chief Justice Earl Warren and with Associate Justice William Brennan. Warren considered disclosing the incident, but decided that since Mitchell was new at his job his lapse of propriety could be overlooked. Mitchell still denies trying to improperly influence the Court.

    White House press secretary Ron Ziegler denied that President Nixon used almost $1 million in surplus 1968 campaign funds to buy his San Clemente, California, estate. [CBS]

  • The Senate Appropriations Committee voted against funding U.S. combat operations in Cambodia and Laos; the vote was unanimous. Republican Senator Norris Cotton stated that the U.S. must get out and stay out of Indochina. [CBS]
  • The U.S. balance of payments deficit for 1973 is $10.2 billion so far. [CBS]
  • Gold prices reached new highs on world markets as the U.S. dollar plunged to new lows. A 5-13% drop in the value of the dollar is foreseen, which could trigger a new monetary crisis. The problem is a lack of confidence in the United States, brought on by Watergate and other factors. [CBS]
  • NASA is searching for ways to correct the trouble with Skylab; its most serious problem is overheating. The astronauts were scheduled for launch today, but may not be launched at all. The director of the Johnson Space Center said that he doubts the original mission can be carried out now, and if the thermal control can't be corrected the entire mission is in jeopardy. [CBS]
  • Six members of a farm family in Georgia were found shot to death in their Donalsonville home. Ned Alday, his three sons and his brother were found inside the house. The wife of one of the sons was found dead in a nearby field. [CBS]
  • Governor George Wallace was shot in an assassination attempt one year ago today. Wallace has accepted the idea that he will never walk again, barring a miracle. He feels that both American political parties are moving more toward the center, and said that he was offered a place on 1972 Democratic ticket but refused the offer. [CBS]


Stock Market Report

Dow Jones Industrial Average: 917.44 (+7.75, +0.85%)
S&P Composite: 106.57 (+0.67, +0.63%)
Arms Index: 0.60

IssuesVolume*
Advances6299.29
Declines8067.16
Unchanged3412.08
Total Volume18.53
* 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*
May 14, 1973909.69105.9013.52
May 11, 1973927.98108.1712.98
May 10, 1973939.34109.5413.52
May 9, 1973949.05110.4416.05
May 8, 1973956.58111.2513.73
May 7, 1973950.71110.5312.50
May 4, 1973953.97111.0019.51
May 3, 1973945.67110.2217.76
May 2, 1973932.34108.4314.38
May 1, 1973921.21107.1015.38


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