News stories from Wednesday May 30, 1973

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

Former presidential adviser John Ehrlichman's statement on the Watergate scandal conflicts with the testimony of other witnesses. Ehrlichman said that he never asked CIA deputy director Robert Cushman help Watergate burglar E. Howard Hunt, but Cushman claims that Ehrlichman told him Hunt was on his on way to see him and Ehrlichman asked Cushman to give Hunt a hand. Ehrlichman denied all knowledge of the conversation.Ehrlichman admitted meeting with former CIA director Vernon Walters after the Watergate break-in to talk about national security regarding CIA matters. Walters then met with FBI director L. Patrick Gray with national security in mind, according to Ehrlichman. Walters had no comment. [CBS] President Nixon said that a plan to spy on domestic groups for national security reasons was never put into effect. However, the New York Daily News reports that parts of the plan were used and are outlined in the White House papers which John Dean took to Judge Sirica.Members of the Senate Watergate Committee are thinking of making the details of the surveillance plan public. This plan included a special force to spy on left wingers, militants and radicals. It went into effect in 1971 but was forced down by J. Edgar Hoover's opposition. The Justice Department admits the existence of an "Intelligence Evaluation Committee", which was the nucleus for a larger plan. Senator Weicker wants the public to know about the plan. [CBS] President Nixon and President Pompidou of France have arrived Iceland for talks on trade and defense. [CBS] The President welcomed Peking envoy Huang Chen to Washington today. The U.S. will treat Chen as China is treating U.S. envoy David Bruce. President Nixon jokingly said that Henry Kissinger will be fired otherwise. [CBS] The Senate will vote on stopping U.S. bombing in Cambodia. [CBS] Col. Theodore Guy filed misconduct charges against eight other POWs, charging them with helping the enemy. Guy said that he decided to make the charges after his return home from a North Vietnamese prison camp.Sgt. John Young is one of the men accused by Guy. Young says that he only saw Col. Guy once in five years as a POW in the same camp. At a ceremony in his honor in Arlington Heights, Illinois, Young was asked about the charge of endangering the lives of other American soldiers. Young said that because of their opposition to the Vietnam war, the eight men who were charged by Guy were kept away from the rest of group. As to accusations of getting special treatment while a prisoner, Young recalled receiving no packages from home but said that Guy received several. James Daly, who is also charged, said that Guy is covering up his own actions. Asked if accusations of a cover-up are true, Guy had no comment. [CBS] Tom Bradley has become the new mayor of Los Angeles, ending 12 years of rule by Sam Yorty. After his defeat, Yorty said that the city is turning more to the left. Bradley faces large problems, but has a good chance of solving them. [CBS] Charges of false advertising claims have been filed against several companies in the plastics industry. The companies are accused of knowing for six years that claims of certain products being non-flammable were wrong. Polyurethane and polystyrene which are used in furniture, homes and airplanes are flammable. Instances of fires such as those on Apollo I and at a dance hall near Grenoble, France, involved those products. The FTC wants the industry to make users aware of the flammability and proper use of polyurethane and polystyrene. Dow Chemical Company denied misrepresenting its product. There has been no other comments from the companies which were charged. [CBS] The value of the U.S. dollar dropped today and gold price reached a new high. [CBS] Senate Democratic leader Mike Mansfield said that Phase III voluntary economic controls are a failure, and the government should return to Phase II's mandatory controls. [CBS] The Indianapolis 500 began again today, but a serious crash halted the race. The car driven by Swede Savage crashed into a wall. An ambulance trying to reach Savage ran over mechanic Armando Teran, killing him; Savage is in serious condition. Rain stopped the race after 134 laps. Gordon Johncock was declared the winner. [CBS] In the past, U.S. presidents have been subpoenaed but refused to appear before Congress. The Senate Watergate Committee may try to issue a subpoena but the odds are against President Nixon testifying. [CBS] Princess Anne and Lt. Mark Phillips met the press today in London, and their families posed for pictures. The Princess said that the secret engagement was a strain. The engagement has captured Britain's heart. [CBS]

Stock Market Report

Dow Jones Industrial Average: 908.87 (-16.70, -1.80%)
S&P Composite: 105.91 (-1.60, -1.49%)
Arms Index: 2.09

	Issues	Volume*
Advances	305	1.15
Declines	1,158	9.14
Unchanged	324	1.44
Total Volume		11.73

* 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*
May 29, 1973	925.57	107.51	11.30
May 25, 1973	930.84	107.94	19.27
May 24, 1973	922.44	107.14	17.31
May 23, 1973	895.02	104.07	14.95
May 22, 1973	892.46	103.58	18.02
May 21, 1973	886.51	102.73	20.69
May 18, 1973	895.17	103.86	17.08
May 17, 1973	911.72	105.56	13.06
May 16, 1973	917.14	106.43	13.80
May 15, 1973	917.44	106.57	18.53