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Wednesday September 26, 1973
. . . where the 1970s live forever!

News stories from Wednesday September 26, 1973


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

  • The House Democratic leadership rejected Vice President Agnew's request for a full investigation into the Maryland kickback allegations. Speaker Carl Albert met with other House leaders to decide the matter, then announced that no action will be taken by the House and the matter will remain with the courts. Representative James O'Hara accused Agnew of making the request to avoid prosecution, but Rep. Gerald Ford stated that the House must hear Agnew's plea and abide by it in order for justice to be done.

    Agnew met with Republican senators after getting word from the House. He refused comment but may schedule a press conference in the near future. When asked by reporters about the possibility of resigning, Agnew insisted that he hasn't considered it and also stated that he and his attorneys have never initiated any plea bargains. White House press secretary Gerald Warren reported that the President and Vice President did discuss Agnew's possible resignation in their meetings, but not in any detail.

    Agnew's lawyers made no move to delay the grand jury from hearing evidence against Agnew beginning tomorrow. If any delay occurs, prosecutors would be worried because Agnew's bribery and kickback charges may be probed for only three more months until the time limit for such an investigation would end.

    Two Republican congressmen introduced a resolution to force House speaker Albert to appoint a committee to look into the charges against Agnew. Rep. John Anderson noted that the action was a protest against the House leadership's decision. [CBS]

  • The Senate Watergate committee today moved into the "dirty tricks" phase of the hearings. Presidential speechwriter Pat Buchanan appeared first. Buchanan insisted that rumors that Republican tricks were responsible for Democrat election failures are untrue. He added that President Nixon would never ask him to carry out questionable activities. When asked about which tactics Buchanan would use willingly, Buchanan stated that he would undertake any actions that are not illegal or unethical, and noted examples of "pranks" used in previous campaigns by Democrats against Republicans.

    Republican Senator Lowell Weicker asked if dirty tricks are acceptable if both parties do it. Buchanan denied Weicker's assertion but agreed that many unethical, illegal actions occurred during the 1972 elections, and he insisted that actions such as the Watergate break-in are not considered as legitimate.

    A former CIA psychiatrist linked Henry Kissinger to an effort to discredit Daniel Ellsberg in a statement to the Ervin committee. Ellsberg's profile was prepared by Dr. Bernard Malloy for White House "plumber" David Young. The information was allegedly requested by Kissinger and John Ehrlichman, and President Nixon was aware of the request. [CBS]

  • The Senate reversed an amendment to begin U.S. troop reductions overseas. Senate Democratic leader Mike Mansfield had hoped for the reduction. [CBS]
  • The House Ways and Means Committee voted to halt further trade concessions to the Soviet Union until the USSR allows free emigration. Secretary of State Henry Kissinger comments on possible repercussions to U.S.-Soviet relations. Speaking in New York, Kissinger admonished Congress against interfering in Russian domestic affairs. Questioned about troop reduction efforts, Kissinger restated the administration's stand to thwart Congress's plan. [CBS]
  • In Chile, five Americans held by the military junta have been released. The junta announced that the mayors of major cities will be replaced by military officers. [CBS]
  • Charges of mutiny and disloyalty against former POWs Capt. Walter Wilbert and Marine Col. Edison Miller have been dropped due to a lack of evidence. [CBS]
  • Oregon Governor Tom McCall called for a statewide blackout to combat the energy crisis. Neon signs and display lighting have been ordered off to conserve energy; many businesses believe they will be hurt by the ruling. Other states may consider a similar blackout soon. [CBS]
  • The Skylab astronauts arrived in San Diego, where they will undergo extensive medical examinations. [CBS]
  • Virgin Islands Governor Melvin Evans was elected as the first black chairman of the Southern Governors Conference. Florida Governor Reubin Askew was named vice-chairman. [CBS]


Stock Market Report

Dow Jones Industrial Average: 949.50 (+8.95, +0.95%)
S&P Composite: 108.83 (+0.78, +0.72%)
Arms Index: 0.88

IssuesVolume*
Advances1,06513.94
Declines4755.47
Unchanged2941.72
Total Volume21.13
* 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
DateDJIAS&PVolume*
September 25, 1973940.55108.0521.53
September 24, 1973936.71107.3619.49
September 21, 1973927.90107.2023.76
September 20, 1973920.53106.7625.96
September 19, 1973910.37105.8824.57
September 18, 1973891.26103.7716.40
September 17, 1973892.99104.1515.10
September 14, 1973886.35104.4413.76
September 13, 1973880.57103.3611.67
September 12, 1973881.32103.0612.04


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