News stories from Wednesday September 19, 1973

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

President Nixon sent Congress a message dealing with the housing crisis and urging that federal housing plans be stopped. Housing Secretary James Lynn delivered the outline of the President's plans. John Sparkman, chairman of the Senate Banking, Housing and Urban Affairs Committee said that he found the plan to be disappointing; Appropriations Committee chairman William Proxmire called the proposal "disastrous" for middle income families.Even the president of the National Association of Home Builders doesn't believe that Nixon's plans fully solve the problem. A U.S. Savings and Loan League official welcomed a portion of the proposal but withheld comment on the remaining portion. [CBS] Tomorrow is the deadline for the White House and special Watergate prosecutor Archibald Cox to settle their White House tapes dispute out of court. White House lawyers Fred Buzhardt and Leonard Garment met with Cox today, but no settlement was reached. [CBS] The Senate Watergate committee met privately with former White House counsel Charles Colson; Colson refused to talk without receiving immunity from prosecution, and invoked the fifth amendment. Committee chairman Sam Ervin noted that Colson had a perfect right to do so. Senator Howard Baker stated that because Colson is faced with a possible grand jury indictment, he rightfully used the fifth Amendment to protect himself. Before the probe by the grand jury was aimed at Colson, the former counsel had been fully expected to appear before the Watergate committee.Senate Watergate hearings resume Monday; CBS will provide live coverage. [CBS] Rumors continue to circulate regarding the possibility of Vice President Spiro Agnew's resignation. Senator Barry Goldwater discussed the situation with reporters and denied releasing any rumors. There was speculation that the White House wanted Goldwater to take responsibility for the rumors, but Goldwater assured the press that he's not the source. Goldwater thinks Agnew will fight the charges against him, but believes that Agnew would consider resigning if he was indicted. [CBS] Forces loyal to deposed Chilean President Salvador Allende remain firm against the military junta. Junta leaders warned loyalists against directing any violence toward the new regime. Six Americans are possibly being held in Chile. [CBS] The United Nations General Assembly began a new session. New members East and West Germany and the Bahamas now fly their flags outside the U.N. [CBS] The Commerce Department released the balance of trade payments deficit for the second quarter of the year. The figures were extremely low. [CBS] The Cost of Living Council refused more price increases for '74 Chryslers. UAW workers and Chrysler officials met to approve their tentative contract. The union rank and file must ratify the agreement before the labor dispute is finally settled. [CBS] AT&T reported profits for the second quarter of the year. [CBS] The House upheld President Nixon's veto of the minimum wage bill. [CBS] A convicted securities swindler talked about international dealings before a Senate committee hearing. Philip Wilson stated that he learned swindling and other dirty tricks in the library. Wilson listed the deals he was involved in, including some in Communist countries. After getting caught, Wilson retired. [CBS] Sidney Marland, the administration's top education official, has resigned. [CBS] After being convicted in the 1969 murders of UMW insurgent leader Joseph Yablonski and his family, Buddy Martin received the death penalty in Pennsylvania, although a death sentence is illegal in that state. Judge Charles Sweet announced that Martin would get a life sentence without parole unless the death penalty is reinstated. [CBS] One of the Stanek sextuplets has died, and three of the remaining five suffer from the same disease. Doctors reported that the babies are improving, however. [CBS]

Stock Market Report

Dow Jones Industrial Average: 910.37 (+19.11, +2.14%)
S&P Composite: 105.88 (+2.11, +2.03%)
Arms Index: 0.57

	Issues	Volume*
Advances	1,185	20.09
Declines	340	3.30
Unchanged	279	1.18
Total Volume		24.57

* 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 18, 1973	891.26	103.77	16.40
September 17, 1973	892.99	104.15	15.10
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