News stories from Thursday August 16, 1973

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

Jeb Magruder, President Nixon's former deputy campaign director, pleaded guilty today to plotting the Watergate bugging and cover-up. The prosecution reduced the charges to one count of conspiracy in return for Magruder helping the Watergate investigators. Magruder said that he regrets the part he played in Watergate. Magruder will continue his lecture tour since Judge Sirica has delayed sentencing. [CBS] Assistant Attorney General Henry Petersen met with U.S. attorney George Beall regarding the investigation of the allegations against Vice President Agnew. Attorney General Elliot Richardson supposedly met with Agnew last week about the probe. Maryland Governor Marvin Mandel said he believes that the Democratic party was under orders to be "destroyed" by Republicans, but the tide has turned now. Prosecutors haven't examined Agnew's financial records yet. [CBS] All members of the Senate Watergate committee members reacted unfavorably to President Nixon Watergate speech, except Edward Gurney. Chairman Sam Ervin defended his committee's stature in the Watergate hearings and clamed that committee members would like to end the hearings, but the President's refusal to release the White House tapes has slowed their work. [CBS] The average citizen in Cudahy, Wisconsin, reacted to Nixon's speech. Watergate has eroded his support here. Three former Nixon supporters reacted to the President's speech; two out of three were against the President, and one McGovern voter said he was very glad he voted for McGovern. [CBS] Telegrams to the Senate Watergate indicate that a majority of Americans believe the hearings should continue; the White House has a different view. The White House claims that correspondence is running 6-1 in support of the President. Press secretary Gerald Warren hinted that President Nixon may refuse to answer any more Watergate questions. A campaign has been started by the White House to stop the Senate hearings. President Nixon answered no contradictions nor provided any new insight into the Watergate affair with his speech. Even Senator Barry Goldwater doesn't believe that Nixon's speech restored trust. [CBS] An Arab airliner was hijacked to Israel today. At the Tel Aviv airport, the hijacker was seized by the Israelis without violence. The pilot said that Israel didn't believe the hijack was real. The hijacker, a Libyan merchant, appeared to be drunk. The remaining passengers and crew were allowed to continue their flight to Beirut. The incident occurred just days after the United Nations condemned Israeli war planes seizing an Arab airliner. [CBS] Gunmen in Newry, Northern Ireland seized a freight train and booby-trapped the engine. British troops surrounded the train, and sharpshooters tried to cut through the fuse leading to the explosives. The train exploded but no injuries were reported. The rail link between Belfast and Dublin is now closed. [CBS] Agriculture Secretary Earl Butz announced new wheat allotments for next year to help meet domestic demand. [CBS] Prices of wheat futures on the Chicago and Minneapolis markets closed down today. [CBS] Hog prices are falling because consumers refuse to pay high prices for pork. [CBS] The Cost of Living Council stated that the freeze will remain on gasoline and diesel fuel prices until August 31. [CBS] A zoo in Des Moines, Iowa, has solved its security and budget problem in one step. A jaguar and a tiger keep guard at the zoo. There has been no vandals since the new guards began working. Zoo director Robert Elgin said that the tigers are taught to wrestle intruders, then sit on them. A sign at the zoo gate says trespassers will be eaten. [CBS]

Stock Market Report

Dow Jones Industrial Average: 872.74 (-1.43, -0.16%)
S&P Composite: 102.29 (-0.72, -0.70%)
Arms Index: 1.68

	Issues	Volume*
Advances	619	3.84
Declines	720	7.50
Unchanged	406	1.65
Total Volume		12.99

* 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 15, 1973	874.17	103.01	12.04
August 14, 1973	870.71	102.71	11.74
August 13, 1973	883.20	103.71	11.33
August 10, 1973	892.38	104.77	10.87
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