News stories from Tuesday August 28, 1973

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

Mexico was rocked by an earthquake in the early morning hours today. The quake hit Orizaba the hardest. Casualties and the number of injured are not yet determined. [CBS] Police captured the gunmen who had been holding four hostages in a Stockholm, Sweden, bank vault for nearly one week. The hostages are safe; police used tear gas to overcome the gunmen. [CBS] Britain remains under a letter bomb alert. No bombs were discovered in London today, but a bomb was found and dismantled at the British embassy in Paris. Police warned Londoners all day long via public announcements regarding letter bombs. Scotland Yard was swamped with calls. [CBS] After soapbox derby winner James Gronen was disqualified for cheating, his legal guardian Robert Lang admitted that he put his nephew and ward up to cheating. Lang admitted bad judgment and regrets his action, but insists that derby winners in the past have consistently broken the rules without punishment. District Attorney Alexander Hunter said that he intends to find any rule violations at the derby and take action. Rule changes are anticipated before the next derby race. [CBS] The 'Big 4' auto makers requested that the Cost of Living Council permit price increases for 1974 cars. [CBS] Chrysler made its first offer of a new contract and the UAW unanimously rejected the offer. Contract negotiations will begin in earnest now. [CBS] The lawyer for H.R. Haldeman further explained Haldeman's access to White House tapes in a letter to the Senate Watergate committee. [CBS] Middle-class America reacted to President Nixon's plea for fairness in the Watergate affair. In Providence, Rhode Island, the "National Citizens Committee for Fairness to the Presidency" was founded by retired Rabbi Baruch Korff. Contributions enable the committee to buy ads in newspapers throughout the country to back up the President's stand on Watergate. Rabbi Korff noted that he must pay for ads that support the President, but he claims that anti-Nixon ads are given free space. Rabbi Korff insists that none of his backing comes from the Nixon re-election committee. [CBS] Seymour Friedin has been named as a reporter who served as a secret informant during President Nixon's re-election campaign. Long-time Nixon associate Murray Chotiner admitted paying Friedin for information on other presidential candidates. [CBS] A federal judge in Washington, DC acquitted comedian Dick Gregory and others who were arrested for praying at the White House during an antiwar demonstration. [CBS] Pentagon doctor Richard Wilbur returned from touring American military hospitals in West Germany, where he examined hospital equipment and staffing. He found the conditions to be deplorable, just as a previous CBS report did. [CBS] Economic conditions in Pakistan have worsened under the burden of recent floods. Foreign aid is desperately needed. [CBS] India and Pakistan agreed to release prisoners and refugees who have been stranded since the 1971 war. [CBS] Aleksandr Solzhenitsyn believes that Russian secret police are threatening his life. The Nobel Prize-winning author has made arrangements for his greatest novel to be published in the Western world upon his death; Solzhenitsyn's books are banned in Russia. [CBS] American Indian Movement president Carter Camp has been jailed in South Dakota after shooting fellow movement leader Clyde Bellecourt. [CBS] A tornado hit West Stockbridge, Massachusetts. Three persons were killed, 40 injured. [CBS] Today is the 10th anniversary of the August, 28, 1963, civil rights march on Washington, DC. On that date, Reverend Martin Luther King expressed his dream of peaceful integration and equality for all races. The subsequent decade boasted considerable gains for civil rights. Benign government disinterest followed, and ghetto rioting broke out. The National Urban League's Vernon Jordan insists that black people aren't sitting around, satisfied with the black situation today, but problems can no longer be solved by marches. Civil rights movements are now locally oriented. [CBS]

Stock Market Report

Dow Jones Industrial Average: 872.07 (+1.36, +0.16%)
S&P Composite: 103.02 (+0.60, +0.59%)
Arms Index: 0.74

	Issues	Volume*
Advances	815	6.63
Declines	547	3.31
Unchanged	399	1.87
Total Volume		11.81

* 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 27, 1973	870.71	102.42	9.74
August 24, 1973	863.49	101.62	11.20
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