News stories from Tuesday June 26, 1973

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

John Dean testified for a second day at the Senate Watergate hearings. Dean again named President Nixon as being involved in the Watergate cover-up. When asked why he hesitated to tell the truth, Dean replied that he had hopes of Nixon coming forward and admitting his involvement in Watergate. Senator Herman Talmadge asked why Dean thinks his own credibility is greater than President Nixon's. Dean said he has told truth as he knows it.Senator Joseph Montoya took issue with Dean over the differences between Dean's story and the President's story. Dean said that the statement issued by President Nixon on May 22 denying any involvement was "less than truthful". Dean accused the President of knowing about the Watergate cover-up, authorizing clemency for the Watergate defendants and being aware of the payoffs to them. Dean believes that character assassination by the White House is an attempt to discredit him, and he stated that he would take a polygraph test to prove that he is telling the truth. During his testimony, Dean never varied one inch from his original statement implicating the President. Many now are saying that Nixon must defend himself publicly against these accusations. [CBS] CBS reporter Daniel Schorr was the subject of part of John Dean's testimony. Dean claimed that H.R. Haldeman instructed his assistant to begin an FBI probe of Schorr. J. Edgar Hoover began a wide probe but still left the White House in a position to defend its actions; Schorr was said to be under consideration for a presidential appointment. [CBS] Former White House aide H.R. Haldeman reacted to John Dean's testimony. Haldeman stated that he won't make any comment until he is called before the Senate Watergate committee, where only then will he bring out the facts proving that President Nixon had no involvement in the Watergate burglary or its cover-up; it will be obvious that Haldeman had no involvement either. Haldeman said it is very good that the hearings are public, but it's important that they be aired in totality. [CBS] Presidential counsel Charles Colson responded to John Dean's testimony at the Senate committee hearings. Colson noted that 90% of Dean's testimony involving President Nixon is hearsay and added that Dean was at the center of a conspiracy to keep information from the President. Colson stated that it is hypocritical of Dean to accuse the President of involvement in a situation Dean conspired to create. After the evidence is all in, Americans will absolve President Nixon from any Watergate involvement, Colson believes. [CBS] The President, through a White House spokesman, had no comment on today's developments in the Watergate hearings. Deputy press secretary Gerald Warren said that President Nixon is attending to business as usual.The White House previously attempted to discredit John Dean, now it ignores him. For weeks prior to Dean's testimony, the President and his aides implied that Dean was responsible for the scandal, and they leaked other information to assassinate Dean's character. Henry Kissinger and President Nixon are busy scheduling newsworthy events, but not enough to divert coverage from Watergate testimony. [CBS] Congress sent the bill which cuts funds for bombing Cambodia and Laos to President Nixon. Senator Tower said that he doesn't think the President will veto the bill, which also includes $3.5 billion in supplemental appropriations. [CBS] Soviet leader Leonid Brezhnev met with French President Georges Pompidou in Paris. Brezhnev assured Pompidou that no secret deals were made regarding European countries during his U.S. visit. [CBS] Henry Wilson, a Catholic member of the Belfast city council, and a woman were stabbed to death in Northern Ireland. The man who reported the deaths said that Protestant terrorists killed them to avenge the death of a Protestant boy. [CBS] The Commerce Department reported a $157.9 million trade deficit for May. [CBS] There has been no rain for more than five years in Africa's Sahara Desert. Crops and animals are dead; people are struggling to live. Death by starvation is a real threat to the African people. They receive aid from the United States, China and Russia but not nearly enough. In six different young African nations, drought is killing everything in sight. The way of life is being threatened in Timbuktu; tribes of nomads who have been living in the Sahara Desert for centuries come to Timbuktu in search of food and water. People can only look to the sky; no relief is in sight. [CBS]

Stock Market Report

Dow Jones Industrial Average: 879.44 (+10.31, +1.19%)
S&P Composite: 103.30 (+1.05, +1.03%)
Arms Index: 0.82

	Issues	Volume*
Advances	746	7.49
Declines	608	5.00
Unchanged	389	1.55
Total Volume		14.04

* 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 25, 1973	869.13	102.25	11.67
June 22, 1973	879.82	103.70	18.47
June 21, 1973	873.65	103.21	11.63
June 20, 1973	884.71	104.44	10.60
June 19, 1973	881.55	103.99	12.97
June 18, 1973	875.08	103.60	11.46
June 15, 1973	888.55	105.10	11.97
June 14, 1973	902.92	106.40	13.21
June 13, 1973	915.49	107.60	15.70
June 12, 1973	927.00	108.29	13.84