News stories from Friday August 24, 1973

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

A federal judge ordered a suspension of the price freeze for name brand gasoline retailers. The government intends to appeal the ruling. [CBS] The federal government is studying the possibility of taxing autos on a fuel consumption basis. [CBS] A letter bomb exploded in London, England, after a rash of bombs were found in the area. The bomb exploded in the London Stock Exchange Building. The stock exchange director general and his secretary were injured. Scotland Yard commander Robert Huntley believes that the IRA is partly responsible for the terrorism. [CBS] An illegal bomb factory exploded in Northern Ireland. Makings of letter bombs were found in the ruins, similar to the bombs that have been discovered in England. [CBS] More details have been released regarding the assassination plot against President Nixon. The fact that six black militant leaders were meeting in New Orleans led to a change in the motorcade route through the city last week. The militants were kept under surveillance by local police and Secret Service agents during the President's visit. [CBS] Although the Senate Watergate committee is in recess, potential new evidence is still being investigated by committee staff. Before special prosecutor Archibald Cox replaced Earl Silbert, Silbert kept a journal of the Watergate proceedings. Committee counsel Sam Dash may subpoena the journal for further examination. [CBS] Even during their vacations, Senate Watergate committee members remain in the national spotlight. In Lovejoy, Georgia, Senator Herman Talmadge's hometown has reacted very favorably toward him. Talmadge spoke to a church group on "Discord in America", but only briefly alluded to Watergate during his speech. Senator Sam Ervin is scholarly underneath his folksy outer covering. Ervin said that North Carolinians recognize and respect his part in the Senate Watergate hearings, and reaction from his hometown of Charlotte affirmed Ervin's statement. [CBS] The White House reported that President Nixon doesn't expect Vice President Spiro Agnew to be indicted in the Maryland corruption probe, and he retains full confidence in Agnew. [CBS] A federal grand jury indicted eight federal and four local narcotics agents in erroneous drug raids in southern Illinois. [CBS] The government raised the interest rate ceiling to 8.5% on federally insured home construction loans. [CBS] The Department of Health, Education and Welfare spent $1.8 billion less of its budget than Congress appropriated. [CBS] Dollar devaluation accounted for the U.S. trade surplus in July. [CBS] Skylab astronauts Jack Lousma and Owen Garriott walked in space today to repair their vehicle. Commander Alan Bean monitored the work. [CBS] Some U.S. planes will pull out of Thailand this week, but no B-52's are scheduled for withdrawal at this time. [CBS] The Pentagon admitted that human error was responsible for the mistaken U.S. bombing of Neak Luong, Cambodia, last week. [CBS] Government forces broke through Communist lines south of Phnom Penh. Supply ships reached government-controlled territory despite only limited air support. [CBS] Eric Sevareid reports on Europe's view of the United States. Europeans no longer view America as all-powerful and prestigious. They have seen America's moral integrity sag along with the dollar. Americans living abroad feel personal disgrace for America's fall from its pedestal. Europeans have little hope for or interest in renewing the Atlantic Charter now that the Soviet threat seems faint and far away. [CBS] President Salvador Allende of Chile continues to faces a nation torn with internal strife. Students rioted in Santiago today. [CBS] A nationwide strike has closed Canada's two major railroads and nine smaller rail lines. [CBS] The U.S. beat Russia in basketball at the World University Games. [CBS]

Stock Market Report

Dow Jones Industrial Average: 863.49 (-0.97, -0.11%)
S&P Composite: 101.62 (-0.29, -0.28%)
Arms Index: 1.20

	Issues	Volume*
Advances	675	4.50
Declines	660	5.26
Unchanged	409	1.44
Total Volume		11.20

* 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 23, 1973	864.46	101.91	11.39
August 22, 1973	851.90	100.53	10.77
August 21, 1973	857.84	100.89	11.48
August 20, 1973	867.40	101.61	8.97
August 17, 1973	871.84	102.31	11.11
August 16, 1973	872.74	102.29	12.99
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