News stories from Monday September 17, 1973

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

The UAW announced that a tentative agreement has been reached in contract negotiations with Chrysler. Details of the contract are unknown. Because of the complex ratification process, workers could be delayed from resuming their jobs for another week. [CBS] Donald Segretti, the alleged "dirty tricks" specialist in the '72 Nixon campaign, has agreed to plead guilty and cooperate with Watergate prosecutors. Segretti refused to comment on the deal. Assistant Watergate prosecutor Richard Davis also agreed that the understanding between Segretti and the prosecutors should not be publicly discussed. [CBS] E. Howard Hunt requested that his guilty plea regarding Watergate be reversed and the charges be dropped. [CBS] Senator Walter Mondale proposed that a congressional commission be set up to examine the Office of the President in the wake of Watergate. Mondale claims it is not his intention to criticize President Nixon, but he believes the president must become more "realistic" and he should cooperate more with Congress in order to combat the stigma of Watergate. [CBS] The Telex computer company won one-third of a billion dollars in its anti-monopoly suit against IBM. A district court judge in Tulsa, Oklahoma, made the ruling in the case; but he also ordered Telex to pay IBM $21 million for stealing trade secrets. IBM will appeal the judge's decision. [CBS] Edna Stanek of Lakeland, Colorado, gave birth to sextuplets. [CBS] President Nixon sent an environmental quality report to Congress along with a message stating that land development is important to controlling the quality of the environment. One such land use program is underway in California.Much of the land on the California coast is private property, so voters decided to save the remaining coastline. A "Coastal Zone Commission" decides what can be built near the ocean. Commission director Joseph Bodovitz said that everyone identifies with the nostalgia of a cleaner, quieter coastline. The commission has great power. Bodega Harbour bucked the commission, took its ruling to higher court and development continues in one area along the coast. So the commission again ruled against Bodega; a court fight is predicted. [CBS] The White House confirmed that the newest presidential jet liner, the "Spirit of '76", has undergone costly interior remodeling. [CBS] Senate Republican leader Hugh Scott called for the public financing of elections. Scott and Edward Kennedy will sponsor a bill to that effect in the Senate. [CBS] Sweden's general election ended in a tie between the ruling socialist government and the non-socialist coalition. New elections may be scheduled. The Social Democratic party has ruled Sweden for more than 40 years, bringing a utopian atmosphere to the country. [CBS] Businesses in Chile reopened today for the first time since last week's military coup. No violence was reported. Chile's ambassador to Mexico insists that the United States CIA was involved in the coup. The State Department denied the charges. [CBS] Prime Minister Edward Heath of England met with Irish Prime Minister Liam Cosgrave to discuss the bloodshed in Northern Ireland. Protests abound; more bombs were set off in Ireland and England. [CBS] The pro football season began under the new local television blackout ban. Games which were sold out 72 hours in advance were shown on TV. Some fans took advantage of the games being televised; many stayed away from the Giants-Oilers game in New York. NFL commissioner Pete Rozelle believes the new blackout law is terrible. The real test for the law's effect will come next season. [CBS]

Stock Market Report

Dow Jones Industrial Average: 892.99 (+6.64, +0.75%)
S&P Composite: 104.15 (-0.29, -0.28%)
Arms Index: 0.81

	Issues	Volume*
Advances	872	8.94
Declines	526	4.38
Unchanged	384	1.78
Total Volume		15.10

* 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*
September 14, 1973	886.35	104.44	13.76
September 13, 1973	880.57	103.36	11.67
September 12, 1973	881.32	103.06	12.04
September 11, 1973	885.76	103.22	12.69
September 10, 1973	891.33	103.85	11.62
September 7, 1973	898.63	104.76	14.93
September 6, 1973	901.04	105.15	15.67
September 5, 1973	899.08	104.64	14.58
September 4, 1973	895.39	104.51	14.21
August 31, 1973	887.57	104.25	10.53