News stories from Friday June 29, 1973

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

Congress and the President are working on a compromise that would stop U.S. bombing of Cambodia. House Minority Leader Gerald Ford said that the compromise to stop all bombing in Indochina by August 15 will provide an opportunity to find a peaceful settlement in Cambodia. But Rep. John Moss believes that the House vote for compromise was actually a surrender to a President who wants unlimited power. The Senate Foreign Relations Committee approved the same compromise to stop bombing by August 15, and sent the bill to the White House for approval. Senator Hugh Scott stated that if there is to be any more military involvement in Southeast Asia, the President must get approval from Congress. The full Senate is approaching a vote on the compromise. [CBS] In an open letter to Congress, the Cambodian government pleaded for a continuation of U.S. air support. The Cambodian government believes that without U.S. support, the Communists will take over the country. For now, the bombing continues. Front line soldiers in Cambodia don't realize the political implications of a bombing halt, but they do know that without U.S. support Communists will have little trouble in claiming Cambodia. [CBS] Special Watergate prosecutor Archibald Cox met with other prosecuting attorneys today. After the meeting, attorneys Earl Silbert, Seymour Glanzer and Donald Campbell resigned. Silbert, Glanzer and Campbell successfully prosecuted the original seven Watergate defendants, but they were criticized for not linking the burglary to higher-ups in the Nixon administration. [CBS] Former White House counsel John Dean completed his fifth day before the Senate Watergate committee. Tension seemed to unwind on Dean's last day of testifying. Talk turned to inconsistencies regarding Dean's meeting with President Nixon's attorney Herbert Kalmbach to talk about payoffs to the Watergate defendants. Dean said that the meeting took place at the Mayflower coffee shop; other reports say it was the Statler Hilton Hotel. Senator Edward Gurney asked how two versions of the meeting place are possible. Dean said that Kalmbach may have registered under another name, and that he often talked in codes about E. Howard Hunt, H.R. Haldeman, and John Mitchell. Dean told Senator Gurney that the name of the coffee shop at the Statler Hilton is the Mayflower.Committee chairman Sam Ervin joked about a possible White House attempt to discredit Senate Watergate committee members. Ervin said that all of his indiscretions have been faded by time, and age prevents him from more indiscretions. The committee discussed the possibility of getting President Nixon's testimony, recalling historical instances when a president went to a special committee voluntarily or invited the committee to visit him. Dean concluded his appearance with a statement, saying that his testimony was given truthfully and with facts as he knows them, adding that it was difficult to speak against the President as well as friends and former colleagues. Dean said that he hoped the Senate committee would find the whole truth quickly. All but Senator Gurney felt that Dean remained unruffled during his five days before the committee. John Mitchell's appearance before the committee is next. [CBS] There was more fighting in Chile today after President Salvador Allende's government crushed a coup attempt by a paramilitary group commanded by Col. Roberto Souper. The fighting subsided after Allende arrived at the palace in Santiago. Guards were posted around the palace as sniper fire rang out. Later, Allende addressed the people of Chile on television to dispel their fears. After his televised address, Allende told a crowd outside the palace that the revolt had been crushed and its leaders captured. [CBS] Health, Education and Welfare Secretary Caspar Weinberger ordered federal civil rights requirements to be relaxed so that big-city school systems can get federal funds. Included in the order are Baltimore, Chicago, Los Angeles, Detroit and Oklahoma City. [CBS] President Nixon announced a new energy program. The plan includes a 5% voluntary energy reduction, and a 7% reduction by the federal government. Interstate highway speed limits are reduced, and $10 billion will be spent on energy research. The Interior Department will be renamed the "Department of Energy and Natural Resources". A White House Energy Policy Office has been created, to be headed by Colorado Gov. John Love. Love met with the President and administration officials today in San Clemente, California. He does not believe that the large oil companies are plotting to eliminate independent gasoline stations by cutting off their supply, and the problem is a real shortage of fuel. [CBS] Fourteen countries will meet to decide on regulations to protect whales. Mechanized whaling has caused some species of whale to become almost extinct. There is already a ban on catching gray whales, and the U.S. wants a ban on the hunting of fin whales; Japan disagrees. The whale is a traditional Japanese food. [CBS] In San Jose, California, seven people including IBM engineer Ramon Serrata have been arrested and charged with conducting industrial espionage against IBM. [CBS] In an interview for the "60 Minutes" television program, John Ehrlichman talked with Mike Wallace about the White House enemies list and income tax audits, saying that its use has been exaggerated. Ehrlichman noted that the IRS is resistant to almost all political pressure.Wallace asked Ehrlichman if he always tapes telephone conversations, and why he taped Richard Kleindienst's call. Ehrlichman replied that sometimes the facts must be presented word for word to the President. He said that telling a person that their conversation is being taped is not required if the recording is not used publicly. Attorney General Kleindienst was furious that his conversation was taped and made public. In the recorded telephone call, Kleindienst told Ehrlichman that Judge Sirica was "lousing up" the Watergate plans. Kleindienst didn't know the call was being taped, and was appalled that a person would record his conversation. [CBS]

Stock Market Report

Dow Jones Industrial Average: 891.71 (-2.93, -0.33%)
S&P Composite: 104.26 (-0.43, -0.41%)
Arms Index: 1.36

	Issues	Volume*
Advances	645	3.76
Declines	705	5.60
Unchanged	375	1.41
Total Volume		10.77

* 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*
June 28, 1973	894.64	104.69	12.76
June 27, 1973	884.63	103.62	12.66
June 26, 1973	879.44	103.30	14.04
June 25, 1973	869.13	102.25	11.67
June 22, 1973	879.82	103.70	18.47
June 21, 1973	873.65	103.21	11.63
June 20, 1973	884.71	104.44	10.60
June 19, 1973	881.55	103.99	12.97
June 18, 1973	875.08	103.60	11.46
June 15, 1973	888.55	105.10	11.97