News stories from Monday October 22, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The cease-fire between Israel and Egypt may be falling apart. Secretary of State Henry Kissinger left Moscow after working out the details of the United Nations cease-fire resolution, and flew to Tel Aviv, but fighting resumed. Israel and Egypt are trying to move their military forces to the best positions before the cease-fire deadline. Israel claimed to have made two advances well into Egypt; Egypt claims that Israeli took heavy losses.
Israel insists that Egypt broke the cease-fire. An Israeli government film shows the west bank of Suez occupied by Israeli troops advancing deep into Egypt. Defense Minister Moshe Dayan noted that the cease-fire states everyone must remain in their present position, and he assured that Israeli troops will remain at the point they reached prior to the cease-fire deadline.
[CBS] - On the northern front, Israeli troops retook the land around Mt. Herman in the Golan Heights. Israelis shot back at Syrian MiGs attempting to blocking a convoy to Mt. Herman. The cease-fire deadline had no effect on fighting on the northern front because Syria has not accepted the cease-fire resolution. [CBS]
- The United States will continue airlifts to Israel for now. The State Department declared that no firm limitations on arms to the Mideast were part of the cease-fire resolution. [CBS]
- After a weekend which saw the firing of special Watergate prosecutor Archibald Cox and Deputy Attorney General William Ruckelshaus and the subsequent resignation of Attorney General Elliot Richardson, Congress is seriously considering starting impeachment proceedings against President Nixon. Telegrams flooding into Washington are overwhelmingly in favor of impeachment, but House majority leader Tip O'Neill said that the House won't support impeachment at this time. Representative Morris Udall stated that Congress should confirm Gerald Ford as Vice President, then request that Nixon resign. House Speaker Carl Albert is expected to defer impeachment resolutions to the Judiciary Committee tomorrow. [CBS]
- The AFL-CIO, meeting in Bal Harbour, Florida, reacted sharply against President Nixon. Union president George Meany demanded that Nixon resign or be impeached. Speaking at the convention, Senator Daniel Inouye also called on the President to resign. The AFL-CIO passed a resolution requesting that Congress delay its confirmation of Vice President designate Gerald Ford. [CBS]
- President Nixon left for Camp David, Maryland. Not all Americans are against the President, despite the reaction in Washington. Speaking in Nashville, Tenn., Senator William Gurney staunchly defended the President's decision to fire Watergate prosecutor Archibald Cox.
Jimmy "The Greek" Snyder said that the odds are heavily against Nixon being impeached or resigning at ths time.
[CBS] - Solicitor General Robert Bork took over as acting Attorney General. At a press conference, the future of the Watergate probe was discussed. Bork turned the investigation over to assistant Attorney General Henry Petersen, who was the primary investigator before the special Watergate prosecutor was named. Bork stated that Petersen will use same staff as Cox to complete the Watergate probe, and plans are that the Watergate probe will continue with the same intensity.
Placing the White House tapes' investigation under the Justice Department leaves many questions unanswered.
[CBS] - President Nixon's lawyers are working a on statement explaining the President's position regarding the tapes which have been ordered to be presented to Judge John Sirica. Sirica will meet with the two Watergate grand juries tomorrow. [CBS]
- The Senate apparently wants to take the Watergate investigation out of the Justice Department. Senate Judiciary Committee chairman James Eastland will call his committee together on Wednesday to consider the possibility of establishing a completely independent Watergate prosecutor. Senators Philip Hart, Edward Kennedy, John Tunney, Charles Mathias and Walter Mondale support the appointing of a new prosecutor. Kennedy declared that Americans want an independent prosecutor to continue the Watergate probe. The Senators want to impound the files that were gathered by Archibald Cox. Public hearings regarding Cox's and Ruckelshaus' removal and Richardson's resignation are also being considered. All of the Senators listed above further stated that they approve of starting impeachment proceedings against President Nixon. [CBS]
- Former Attorney General Elliot Richardson will hold a news conference at 11 a.m. EDT tomorrow. CBS will carry the broadcast live. [CBS]
- Since fighting supposedly ended in Vietnam as a result of the June 27 cease-fire, 48,000 more casualties have occurred. [CBS]
- The United Auto Workers warned Ford Motor Company of an impending strike unless contract negotiations are settled. [CBS]
- Cellist Pablo Casals died today in Puerto Rico. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 960.57 (-3.16, -0.33%)
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* |
| October 19, 1973 | 963.73 | 110.22 | 17.88 |
| October 18, 1973 | 959.74 | 110.01 | 19.21 |
| October 17, 1973 | 962.52 | 109.97 | 18.60 |
| October 16, 1973 | 967.41 | 110.19 | 18.78 |
| October 15, 1973 | 967.04 | 110.05 | 16.16 |
| October 12, 1973 | 978.63 | 111.44 | 22.73 |
| October 11, 1973 | 976.07 | 111.09 | 20.74 |
| October 10, 1973 | 960.57 | 109.22 | 19.01 |
| October 9, 1973 | 974.19 | 110.13 | 19.44 |
| October 8, 1973 | 977.65 | 110.23 | 18.99 |