News stories from Wednesday June 6, 1973

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

The Defense Department announced that production has been stopped on the controversial F-111 fighter planes. [CBS] Disagreement continues over the potential sale of U.S. fighter jets to Saudi Arabia. Assistant Secretary of State Joseph Sisco said that the government is "reasonably sure" that Saudi Arabia won't give the jets to another country. [CBS] The American Petroleum Institute announced that refinery production was up 5% for the week ending June 1. Less gasoline was used so 4 million barrels are currently stockpiled. [CBS] Former major league baseball player Jerry Priddy has been arrested on extortion charges. Priddy threatened to set off a bomb on a cruise ship; he was caught and charged with extortion when he tried to pick up the money he demanded. Two bombs were found on an Island Princess cruise ship. Priddy owns an advertising agency which is doing well financially, and he lives well. There is no apparent reason for the extortion attempt. [CBS] CBS is dropping post-presidential speech analysis. CBS board chairman William Paley said that controversial speeches will be followed within a week with comments, giving the "other side" time to voice its opinions. [CBS] Eleven of the last 12 issues of Newsweek and Time magazines dealt with Watergate on their covers. Both had pictures of Kentucky Derby winner Secretariat this week. Secretariat will be going for horse racing's Triple Crown for 3-year-olds following victories in the Kentucky Derby and the Preakness, and he will run his longest race at Belmont Park on Saturday. All three races have not been won by the same horse since Citation in 1948. Owner Mrs. Penny Tweedy says that Secretariat is reserved but playful. Mrs. Tweedy consults trainer Lucien Laurin daily and attends horse races often as possible. One of Mrs. Tweedy's horses won two of the Triple Crown events last year. Even before Secretariat ever won a race, he was priced at $6 million as a stud horse. The competition is a sham, but with jockey Ron Turcotte on Secretariat, this may be the year for a Triple Crown winner. [CBS] Special Watergate prosecutor Archibald Cox talked to federal Judge John Sirica about getting witnesses to be indicted out of the public eye and having them testify in closed sessions before the Senate investigating committee. [CBS] Hugh Sloan, the former treasurer of President Nixon's re-election committee, testified today before the Senate committee. He told of requests to perjure himself, take the fifth amendment, or leave town.Sloan explained that $1.8 million which was floating around was authorized for use by deputy campaign chairman Jeb Magruder. Sloan was worried, so finance director Maurice Stans spoke with John Mitchell regarding the flow of campaign money. Sloan stated that Stans said it was alright to continue the flow of funds, but he told Sloan not to ask what the money was used for. After the Watergate burglary, Magruder tried to get Sloan to lie about $199,000 that was given to G. Gordon Liddy to carry out the buggings. Sloan said that he told Magruder he would not perjure himself. Fred LaRue asked Sloan to plead the fifth amendment, and to talk to former Attorney General John Mitchell before making any decision. Sloan recalled that Mitchell's advice was "when the going gets tough, the tough get going." Sloan spoke with White House aides Dwight Chapin, Patrick Buchanan and Kenneth Cole about the problem with the campaign committee, but got no help from them. Chapin suggested that Sloan take a "vacation", and John Ehrlichman offered a lawyer but wouldn't listen to Sloan. [CBS] Watergate committee counsel Sam Dash reported that the White House is cooperating fully in releasing the logs of meetings between former aide John Dean and President Nixon. [CBS] Senator William Saxbe called the Watergate hearings a "kangaroo court" and a "fishing expedition". [CBS] Watergate was not mentioned, but it is the reason behind the administration's staff changes. General Alexander Haig takes H.R. Haldeman's place as chief of staff. Melvin Laird is now the president's counsel for domestic affairs, replacing John Ehrlichman. Ron Ziegler has taken on Herbert Klein's post as communications director while remaining as press secretary. Laird said he felt he had to come back and serve the President. [CBS] The President took a ride on the Potomac with General Alexander Haig, John Connally and former aide Bryce Harlow. There is speculation regarding Harlow returning to the White House in an advisory position. [CBS] John Ehrlichman took issue with the media's reporting of his deposition. He said that his deposition is a record of other people's conversations with him and he is not in a position to vouch for the truth of the statements of others. A reporter asked why Ehrlichman recorded his telephone conversation with John Mitchell. Ehrlichman replied that he recorded all telephone conversations so could get accurate wording. [CBS] Henry Kissinger and Le Duc Tho met again outside of Paris, France, for talks regarding the renewal of the Vietnam cease-fire. [CBS]

Stock Market Report

Dow Jones Industrial Average: 898.18 (-2.63, -0.29%)
S&P Composite: 104.31 (-0.31, -0.30%)
Arms Index: 1.37

	Issues	Volume*
Advances	609	4.14
Declines	780	7.26
Unchanged	375	1.68
Total Volume		13.08

* 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*
June 5, 1973	900.81	104.62	14.08
June 4, 1973	885.91	102.97	11.23
June 1, 1973	893.96	103.93	10.41
May 31, 1973	901.41	104.95	12.19
May 30, 1973	908.87	105.91	11.73
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