News stories from Tuesday October 30, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Former special Watergate prosecutor Archibald Cox informed the Senate Judiciary Committee that he may have been the source of the new leak regarding the ITT affair; the White House had previously insisted that Cox was fired for leaking information. A New York Times story claimed that former deputy Attorney General Richard Kleindienst confided to Cox that President Nixon ordered him not to press for action against the ITT Corporation in 1971. Cox disclosed Kleindienst's confidence to Senators Edward Kennedy and Philip Hart after Nixon fired Cox; Cox admitted he was wrong to reveal Kleindienst's statement. Senator Hugh Scott charged that innuendos are being released daily to undermine President Nixon; Kennedy and Hart denied leaking the story. Kleindienst's testimony at his confirmation hearings in March, 1972 regarding ITT conflict with these new developments.
The White House now admits that the President ordered Kleindienst to stop pressing the antitrust action against ITT. Press secretary Gerald Warren stated that President Nixon had every right to act as he did, and Warren accused the press of creating a false image of the President with their leaks. Cox said that the terms of ITT's antitrust settlement were actually a good bargain from the government's viewpoint.
[CBS] - Syria refused to bargain with Israel regarding a Mideast settlement and insists that Israel withdraw from Syrian territory. [CBS]
- The Defense Department reported that 350,000 U.S. military troops are still on alert. No reason for the continued alert was given. [CBS]
- Senator Mark Hatfield introduced a bill to prevent any expenditure of funds to support combat in the Mideast. [CBS]
- The Justice Department is taking action on an industry-wide basis against firms suspected of discrimination. Trucking firms and the Teamsters union were named in a discrimination case. [CBS]
- Senate Democratic leader Mike Mansfield hopes to extend the life of the Senate Watergate committee and its authority. The committee will continue to fight for access to the White House tapes. [CBS]
- Judge John Sirica met with White House counsel Fred Buzhardt to determine the procedure for releasing portions of the White House tapes to the Watergate grand jury. Sirica demanded that an analysis of the deleted portions of the tapes be supplied to him, in order to determine whether national security topics were actually being discussed. Sirica also ordered the President to turn over some subpoenaed documents along with the tapes. Sirica's demands are likely to lead to more conflict. [CBS]
- The House Judiciary Committee, split along partisan lines, debated the possibility of granting committee chairman Peter Rodino subpoena power as part of its inquiry into the possible impeachment of the President. [CBS]
- Senate committee confirmation hearings for Vice President-designate Gerald Ford will be carried live by the three networks, which will rotate coverage. [CBS]
- President Nixon announced plans to nominate Senator William Saxbe as Attorney General. Saxbe confirmed that his meeting with the President was to discuss the Attorney General vacancy along with aides Alexander Haig, Bryce Harlow and Melvin Laird. Saxbe was asked about previous statements in which he criticized President Nixon and his policies. Saxbe said that he recalled those quotes and wondered if he will be acceptable to the President. [CBS]
- The FDIC will take no immediate action regarding President Nixon's friend Bebe Rebozo. Senator William Proxmire requested that Rebozo be suspended from acting as a bank officer in Key Biscayne, Florida. [CBS]
- The Senate was unable to override President Nixon's veto of the bill authorizing funds for the U.S. Information Agency. [CBS]
- Israeli Prime Minister Golda Meir will meet with President Nixon in Washington on Thursday. Secretary of State Henry Kissinger met today with Egypt's acting foreign minister, Ismail Fahmy. Fahmy presented a proposal for a settlement of the Middle East war. Israeli has requested that POWs be released before any settlement is made. Privately, U.S. officials are siding with Egypt; the search for a compromise is underway.
President Nixon and Kissinger will confer with Soviet ambassador Dobrynin at Camp David, Maryland, tonight. Kissinger plans to visit Cairo and perhaps Jerusalem to continue negotiations for a settlement.
[CBS] - The Israeli people are concerned with more than cease-fire lines. The treatment of Israeli POWs by Arabs has produced a strong reaction in Israel. Demonstrators gathered outside Israel's parliament today demand that POWs be returned. The crowd also expressed anger over the Israeli government's decision to provide supplies to the surrounded Egyptian 3rd army.
Inside parliament, Defense Minister Moshe Dayan revealed that Egypt has agreed to submit a list of prisoners and exchange wounded POWs. A government film showed Prime Minister Golda Meir visiting troops in the Israeli-occupied portion of Egypt yesterday. Mrs. Meir admitted that U.S. pressure made her consent to provide relief to the stranded Egyptian 3rd army.
Egypt disputed Dayan's statement about agreeing to exchange wounded prisoners, and insisted that Israeli troops must move back to the October 22 cease-fire line before any POW exchange occurs.
[CBS] - Disputes regarding the cease-fire lines in the Mideast are increasing. United Nations troops are expected to determine the cease-fire line of October 22, but U.N. troops were not in the field on October 22. On the northern sector of the Suez Canal, which is still held by Egyptians, Egypt is refusing to withdraw its troops from the area even if Israeli troops retreat.
On the west bank of the Suez Canal, Israelis constructed a new cease-fire line not far from Cairo. Supplies to the trapped Egyptian 3rd army continue to pass through Israeli-held land. Israel agreed to evacuate wounded Egyptian troops in return for wounded Israelis and a list of Israeli POWs who are being held inside Egypt. In Suez City, United Nations observers separate armed Israeli and Egyptian soldiers by just a few feet.
[CBS]
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Dow Jones Industrial Average: 968.54 (-16.26, -1.65%)
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 29, 1973 | 984.80 | 111.15 | 17.96 |
| October 26, 1973 | 987.06 | 111.38 | 17.80 |
| October 25, 1973 | 974.49 | 110.50 | 15.58 |
| October 24, 1973 | 971.85 | 110.27 | 15.84 |
| October 23, 1973 | 966.51 | 109.75 | 17.23 |
| October 22, 1973 | 960.57 | 109.16 | 14.29 |
| 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 |