News stories from Monday September 24, 1973

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

Convicted conspirator E. Howard Hunt appeared as the first witness before the Senate Watergate committee after a seven-week recess of the hearings. Hunt described the physical and emotional strain to which he has been subjected by what he called undue punishment for his crime. Hunt said that he regrets his part in the Watergate scandal, but feels he has been deserted by the government.Hunt implicated former counsel Charles Colson in intelligence-gathering operations, and gave examples. Hunt stated that co-conspirator G. Gordon Liddy told Hunt about a conversation with Colson which had helped Hunt and Liddy. Hunt believes that Colson must have been referring to the "Gemstone" file, as it was the only possible area in which Colson could have helped Liddy and Hunt. Minority counsel Fred Thompson asked Hunt if Colson could have been aware of the overall Gemstone plan, without being aware of the Watergate break-in; Hunt confirmed that he could. Senator Howard Baker questioned Hunt's continued link with the CIA after leaving the agency but still involving them in his political assignments. Hunt said that the CIA personnel office supplied some information to him, which was used to find people who would be helpful to him. Hunt was briefly reunited with his two children after today's hearing. [CBS] Secretary of State Henry Kissinger spoke to the United Nations General Assembly. Kissinger reassured the world that peace is the main objective for the United States, through the U.N. and bilateral relations. Kissinger made no bold proposals. Private meetings with U.N. delegates will fill Kissinger's remaining days in New York. [CBS] Russian Communist party leader Leonid Brezhnev stated that the Soviet Union proposed a nonaggression treaty to China. There has been no reply from China since the offer was made in June. [CBS] Communists stormed and overran a government ranger base at Le Minh in South Vietnam's Central Highlands. [CBS] Chile's junta leaders warned against anti-military action by Allende supporters; threats of firing squad abound. An American couple who were detained in Santiago for several days claimed that executions are already being carried out.The press was finally allowed into the soccer stadium where political prisoners had been taken. Many prisoners are kept beneath the stadium; the press was not free to inspect the whole stadium. Prisoners were not allowed to speak with the press. The military conducts search and seize missions daily. [CBS] President Nixon ordered the Cost of Living Council to speed up its decision regarding retail gasoline price increases. Many station owners are continuing their protest against Phase IV price controls and remain closed. [CBS] The Postal Service will request an across-the-board rate increase of 2 cents for first class and airmail stamps. [CBS] The national school lunch program received more federal money as the result of a Senate vote today. The proposal must now go to the House. [CBS] Many cotton farmers received a low price this year because they sold their crops before demand increased. Cotton prices have increased, but the money goes to speculators rather than farmers. Farmers are ready to rebel. To the consumer, high cotton prices are inevitable. [CBS] President Nixon approved a substantial increase in logging in national forests to offset high lumber prices and housing costs. The timber task force suggested the plan in its report to the President. [CBS] The National Park Service wants to halt expensive beach anti-erosion projects. Coastal land owners and developers are angered by the possibility of the project being stopped. [CBS] Skylab astronauts Alan Bean, Owen Garriott and Jack Lousma are scheduled to splash down tomorrow, ending the longest-ever stay in space. The mission will offer more information regarding man's ability to remain in a weightless environment without adverse side effects. Exercise may be the answer. Bean said that he and the crew love working in space, and if they could just go home to their wives at night it would be the perfect job. [CBS] Nine Western European countries agreed to build a manned space lab by 1979; it would be launched by the United States. [CBS] Chile announced, and the State Department confirmed, U.S. recognition of the military junta's government in Chile. [CBS] Convicted conspirator E. Howard Hunt told the Senate Watergate committee that he is destitute. Hunt's testimony may bring changes to his financial situation. Publishers intend to reissue spy novels, written under various pen names, that were actually written by Hunt. The sales pitch will change to highlight the author's recent background.Hunt's literary agent Donald MacCampbell believes that Hunt won't survive another year in jail. [CBS] Martha Nelson was committed to a state mental institution in 1875. 98 years later, she's still there. Her doctor says that although she's perfectly coherent, she should remain there because she has no home outside the institution. [CBS]

Stock Market Report

Dow Jones Industrial Average: 936.71 (+8.81, +0.95%)
S&P Composite: 107.36 (+0.16, +0.15%)
Arms Index: 0.86

	Issues	Volume*
Advances	1,021	12.17
Declines	487	5.00
Unchanged	310	2.32
Total Volume		19.49

* 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 21, 1973	927.90	107.20	23.76
September 20, 1973	920.53	106.76	25.96
September 19, 1973	910.37	105.88	24.57
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