News stories from Friday August 10, 1973

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

Texas police discovered more bodies in the Houston mass murder case. So far 24 bodies of young teenage boys have been recovered. David Brooks, 18, admits transporting and burying the bodies for 34-year-old Dean Corll. Corll sexually assaulted the victims, who were also tortured by Elmer Wayne Henley, 17. Henley later killed Corll.Thirteen-year-old David Hilligiest was among the first bodies recovered. Mrs. Dorothy Hilligiest said she feared that her son had been hurt, but hope kept her family going. Evidence found with the body led to David's identification. The identification of some victims may take months, and others may never be known. [CBS] More corporations have admitted making illegal contributions to the Nixon re-election campaign. Gulf Oil Company said that it gave $100,000 after intense pressure. Goodyear Tire reportedly contributed $40,000 to the Nixon campaign. The campaign committee returned both contributions and denied knowing that they were made from corporate funds. Several corporate contributors have gone to special Watergate prosecutor Archibald Cox, who now has a list of "secret" contributors. He refuses to name the contributors until they identify themselves. [CBS] President Nixon will speak about the Watergate affair sometime next week. [CBS] The Washington Post reports that high White House aides used the Secret Service to spy on Senators Edmund Muskie and George McGovern during the 1972 presidential campaign. The Post viewed memoranda involving John Dean, H.R. Haldeman, Charles Colson and some of their assistants.The White House admits that the memos exist. Sources say one memo from W. Richard Howard to Fred Fielding regarding McGovern's college and war record was written in jest. Secret Service agent James Boulton allegedly spied on McGovern while guarding him. Sources say Boulton didn't know that the information he provided was being sent to the White House. Apparently the plan to spy on Nixon adversaries was unsuccessful. [CBS] Fighting continued around Phnom Penh, Cambodia. [CBS] The Pentagon released a memo apparently approving falsified reports regarding bombing missions over Cambodia in 1969 and 1970. Former Secretary of Defense Melvin Laird signed the memo.Laird stressed that his initials being present on the memo didn't indicate his approval, and he refused to admit ordering false reports of bombing targets. Laird recalled ordering a separate reporting procedure to keep the raids secret. Laird stated that separate reports were sent to the Joint Chiefs of Staff and to the President. [CBS] President Nixon signed the farm bill passed by Congress which will encourage increased farm production and lower price supports. [CBS] Some Americans can buy meat at reasonable prices. In Los Angeles, the black neighborhood of Watts has high quality beef available. Several years ago a "community action committee" began raising cattle and other crops outside of Los Angeles for the benefit of Watts. This cuts out the middleman and keeps prices reasonable. Chicken and beef prices are lower here, and beef is plentiful in Watts. [CBS] Two members of the United Farm Workers were wounded while picketing a vineyard in the San Joaquin Valley, California. [CBS] Farm Workers union president Cesar Chavez walked out of a conciliatory meeting with Teamsters officials and charged the Teamsters with negotiating in bad faith. The struggle between Chavez and the Teamsters continues.Chavez has lost almost all of the union's 180 contracts. In the mid-1960's Chavez organized farm laborers, but now Chavez and the Teamsters violently disagree and negotiations have collapsed. To win the battle, Chavez uses civil disobedience. The United Farm Workers has tried to coerce pickers from the fields into their protest movement. The fact that pickers now receive decent wages is due to Chavez's efforts. But the pickers are undecided regarding staying with Chavez, having no union at all, or joining the Teamsters. The intensity of the strike is likely to increase; this may be Chavez's last stand against the growers and Teamsters. [CBS] The Cost of Living Council has decided to extend the price freeze gasoline and petroleum products for one week. [CBS] Many banks raised their prime lending rate to 9.25%. [CBS] Israeli war planes intercepted a chartered Iraqi airliner leaving Beirut, Lebanon. The airliner was forced to land at an Israeli military airport, but later resumed its flight. [CBS] As the Middle East conflict continues, pressure is growing in the U.S. to keep Arab oil supplies open. The energy shortage makes Arab oil vital to the United States.Mobil Oil ran an advertisement calling for a peace settlement in the Mideast. Standard Oil Company of California suggested that the U.S. should reconsider its allegiance to Israel. Saudi Arabia warned that America's oil needs may not be met if the U.S. government keeps favoring Israel. But the government is unwilling to yield to oil blackmail, and support for Israel remains firm. Assistant Secretary of State Joseph Sisco stated that America has economic and political interests in all of the Mideast. Israel is being gently nudged by the U.S. to make further peace efforts. [CBS] Rescue workers continue to search for a small boy in central New Mexico, who called for help over the citizens' band radio. The search will continue through Sunday. [CBS] Grand Junction, Colorado, was the site of the largest radioactive decontamination project ever undertaken in the United States. The Atomic Energy Commission thought that their landfills in Grand Junction were safe for homes, but scientists found that homes built on the land are dangerously radioactive. Radioactivity can cause cancer and genetic mutations in future generations. Radioactive soil was also used as landfill on which schools were built. Excavation operations under 700 homes and two or three more schools may be necessary. State officials are unsure of obtaining federal money which is needed for further decontamination efforts, which will take several years. [CBS]

Stock Market Report

Dow Jones Industrial Average: 892.38 (-18.11, -1.99%)
S&P Composite: 104.77 (-0.84, -0.80%)
Arms Index: 1.14

	Issues	Volume*
Advances	359	2.30
Declines	995	7.25
Unchanged	379	1.32
Total Volume		10.87

* 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*
August 9, 1973	910.49	105.61	12.88
August 8, 1973	902.02	105.55	12.44
August 7, 1973	911.95	106.55	13.51
August 6, 1973	912.78	106.73	12.32
August 3, 1973	908.87	106.49	9.94
August 2, 1973	910.14	106.67	12.08
August 1, 1973	912.18	106.83	13.53
July 31, 1973	926.40	108.22	13.53
July 30, 1973	933.77	109.25	11.17
July 27, 1973	936.71	109.59	12.91