News stories from Tuesday September 4, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Tropical storm Delia moved into the Gulf of Mexico, coming ashore at Houston at bringing high waves and tides from Texas to Louisiana. Floods and heavy property damage are expected; one death has been reported so far.
Tropical storm Christine was downgraded to a tropical wave. It caused some damage in Puerto Rico.
[CBS] - The freighter "Key Largo" continues to burn in the Mississippi River near New Orleans, however the explosive chemicals on board are no longer threatening the ship and the surrounding area. [CBS]
- Food prices dropped in four major cities that were surveyed in August after prices rose in July. However, reports show that food prices are still up considerably from where they were in March.
In New York City, a basket of groceries which in March cost $20.00 were priced at $20.79 for the same items in August. In Atlanta the price was $22.30. Chicago groceries at $19.99 in March went up to $22.62, in Los Angeles they cost $20.68.
[CBS] - Trouble reappeared at the Indiana state prison in Michigan City. Guards refused to enter the prison so state police reinforcements were called in. Warden Russell Lash continues to try and avoid confrontations with prisoners and the state police. [CBS]
- President Nixon intends to put the Watergate scandal behind him and devote his time to running the country; today he helped swear in new CIA director William Colby. The president will veto the minimum wage hike and is scheduled to meet with Congress to outline his own legislative priorities. A meeting with cabinet members and congressional leaders is planned for later in the week. An administration spokesman said that President Nixon has decided on the form his appeal will take regarding the release of the White House tapes. [CBS]
- President Nixon's lawyers will state their appeal of the White House tapes order on Thursday. The U.S. Court of Appeals has already planned a hearing regarding the tapes.
The Senate Watergate committee won't look into the Maryland probe regarding kickback and bribery allegations against Vice President Agnew. Committee counsel Sam Dash made the decision.
[CBS] - U.S. ambassador Henry Swank held a news conference and stated that the Cambodian war has less and less meaning for the people involved. [CBS]
- Cambodian government forces withdrew after attempting for a tenth day to regain Highway 4 near Phnom Penh. [CBS]
- The big Arab oil producers are meeting in Kuwait, where they are expected to formulate a plan to use oil as political weapon against the United States because of its support of Israel.
President Nixon promised Israeli Prime Minister Golda Meir last March that the U.S. would furnish Israel with fighter bombers, committing to a four-year delivery schedule of phantom jets and bombers. But new deliveries would upset the Middle East oil situation and bring new problems.
[CBS] - The cholera outbreak in Italy has worsened; 18 people have died so far. Shellfish are currently banned in Italy. [CBS]
- CBS visited four freshmen congressmen back home with their constituents to determine Watergate's impact. Indiana congressman William Hudnut spoke with his constituents about Watergate but said that people were most concerned with local issues such as forced busing and the economy. Connecticut representative Ronald Sarasin also stated that his constituents were most concerned with the economy, not Watergate. Nevada Republican David Towell said that his people are worried about inflation and the gasoline shortage. Asked if Watergate has hurt the Republican party, Towell stated that he believes Watergate's effects are being felt by all politicians. Louisiana congressman David Treen agreed with the others that local issues are uppermost in constituents' minds, and claimed that Watergate was rarely even mentioned.
Voters apparently are not concerned with Watergate as the number one issue. The economy is more important now.
[CBS] - The British army's wedding present to Princess Anne called for contributions from army men. Officials revised the order after newspapers printed the story. Contributions for the wedding present are now to be entirely voluntary. [CBS]
- The ongoing heat wave battered spectators and players alike at the U.S. Open in New York. Former winners have been upset by heat and illness. Billie Jean King said she almost fainted on the court, so she stopped play, losing the game to Julie Heldmen. Rosemary Casals believes that the heat has worn all players down. The first aid center was busy with spectators and players. No relief from the heat is in sight. [CBS]
- Boston Globe photographer Bob Dean filmed a five-car smash-up. After developing the film, he discovered his 17-year-old son among the victims. [CBS]
- The Labor Day muscular dystrophy telethon hosted by Jerry Lewis received and accepted an anonymous $10,000 contribution from the Gainesville, Florida, marijuana dealers' association. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 895.39 (+7.82, +0.88%)
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 31, 1973 | 887.57 | 104.25 | 10.53 |
| August 30, 1973 | 882.53 | 103.88 | 12.10 |
| August 29, 1973 | 883.43 | 104.03 | 15.69 |
| August 28, 1973 | 872.07 | 103.02 | 11.81 |
| 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 |