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Monday August 20, 1973
. . . where the 1970s live forever!

News stories from Monday August 20, 1973


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

  • The Secret Service uncovered a possible plot to assassinate President Nixon in New Orleans, Louisiana. The open motorcade through the city was canceled but Nixon's speech to the Veterans of Foreign Wars speech went on as scheduled.

    Former policeman Edwin Gaudet is being sought by the Secret Service and local police. New Orleans police superintendent Clarence Giarrusso told reporters that the police and Secret Service don't have sufficient evidence to solve the case yet. Security was heavy outside the VFW convention building. President Nixon was informed of the assassination plot but decided to keep his speaking engagement.

    The President's temper flared outside the convention hall as he tried to keep press secretary Ron Ziegler from entering the hall. Ziegler was unclear as to the reason for the incident. In his address, Nixon acknowledged ordering the secret bombings in Cambodia and justified that decision. The President criticized the press in general as well as members of Congress who voted to end U.S. bombing in Cambodia. [CBS]

  • Sources reported that high level insiders have cautioned key Republicans on going overboard with support for Vice President Spiro Agnew during his investigation. At least one such warning came from White House aide Melvin Laird. The reason for the warning is unclear. [CBS]
  • Secretary of State William Rogers held a press conference and clearly put distance between himself and the White House "horrors". Rogers stated that U.S. laws must not be freely violated even though an obsession with national security leads in that direction. Rogers said that he sympathizes with the government's feelings on issues such as the stolen Pentagon Papers, however. Rogers' future is uncertain; rumors are flying regarding Henry Kissinger replacing him. [CBS]
  • A coup attempt in Laos failed. Prince Souvanna Phouma's loyalists put down the coup quickly and killed its leader. The capital city of Vientiane is under curfew tonight. [CBS]
  • Fighting continues to surround Phnom Penh, Cambodia. Yesterday's terrorist bombs have left citizens shaken. Bombs were placed in a market and a theater by Communist insurgents. Hospitals were flooded with wounded and dead. [CBS]
  • North Vietnamese artillery shelled Hue, South Vietnam, for the fourth day in a row. [CBS]
  • South Vietnam's President Thieu is trying to increase his support in the Senate for next week's election. Thieu wants absolute control of the Senate in order to get a law passed which would permit him a third term as president. Election favorites seem to be Thieu's party and the opposition party of foreign minister Tram Van Lam. [CBS]
  • President Salvador Allende is facing more problems in Chile. The truck strikes continue, and doctors in Santiago are on strike, protesting political prosecution. High level Air Force commanders demand that General Luez be reinstated as Air Force commander in chief. [CBS]
  • Joseph Kennedy III was convicted on a negligent driving charge regarding last week's auto accident on Nantucket Island, Massachusetts. Kennedy was fined $100. One girl who was injured in the accident remains paralyzed. [CBS]
  • Forest fires in the northwest continue to rage uncontrollably. The worst fires are in the Stanislaus National Forest, California. The U.S. Forest Service reported 35 separate fires in seven western states. [CBS]
  • Tropical storm Brenda officially reached hurricane status. Brenda is heading for the Mexican coast south of Veracruz. [CBS]
  • Some banks have increased the prime interest rate to 9.5%. [CBS]
  • Busing in Memphis, Tennessee, remains a bitter subject although legal barriers have been cleared. The energy crisis limitation on gasoline supplies in Memphis will be evident as the school year begins and is being used as an excuse to stop busing. Mayor Wyeth Chandler insists that gasoline supplies be used for fire engines and police cars before any gasoline is allotted for busing children.

    School board president Hunter Lane complained that the mayor could allow more gasoline for busing, but the mayor has always been opposed to busing. School board member Mrs. Maxine Smith said that the fuel shortage is not that severe, and the mayor could get fuel for buses if he wanted to. [CBS]

  • The 36th annual soapbox derby was held in Akron, Ohio. The winner, 13-year-old James Gronen, was disqualified for cheating. Bret Yarborough, 12, was pronounced the winner. [CBS]
  • The special election for Congress in Maryland is underway for former representative William Mills' seat. Mills committed suicide earlier this year. The effect of Watergate on the election is anxiously anticipated.

    Democratic candidate Fred Malkus and Republican Robert Bauman are running for the seat. Malkus reminded voters that people are concerned about Watergate. Agriculture Secretary Earl Butz and Vice President Spiro Agnew supported Bauman at a weekend rally. Agnew said that President Nixon believes this election will show whether Watergate is having an impact on America. Bauman discounted the impact of Watergate on the election. Both sides believe the race to be very close. [CBS]



Stock Market Report

Dow Jones Industrial Average: 867.40 (-4.44, -0.51%)
S&P Composite: 101.61 (-0.70, -0.68%)
Arms Index: 1.30

IssuesVolume*
Advances4121.96
Declines9385.80
Unchanged3961.21
Total Volume8.97
* 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
DateDJIAS&PVolume*
August 17, 1973871.84102.3111.11
August 16, 1973872.74102.2912.99
August 15, 1973874.17103.0112.04
August 14, 1973870.71102.7111.74
August 13, 1973883.20103.7111.33
August 10, 1973892.38104.7710.87
August 9, 1973910.49105.6112.88
August 8, 1973902.02105.5512.44
August 7, 1973911.95106.5513.51
August 6, 1973912.78106.7312.32


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