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Thursday November 8, 1973
. . . where the 1970s live forever!

News stories from Thursday November 8, 1973


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

  • The AFL-CIO began a nationwide campaign to seek President Nixon's immediate impeachment. The labor union published its reasons in the union newspaper. [CBS]
  • President Nixon's personal secretary Rose Mary Woods and former chief of staff H.R. Haldeman testified today about the White House tapes. The quality of the recordings was a primary topic of interest. Miss Woods testified that many of the recordings are inaudible. Haldeman maintained that he checked out only one tape although prosecutor Richard Ben-Veniste insisted that there is evidence of the existence of 22 tapes. [CBS]
  • Former Attorney General Elliot Richardson testified before the Senate Judiciary Committee that that there was talk of firing former special Watergate prosecutor Archibald Cox last July. Richardson stated that White House chief of staff Alexander Haig criticized Cox's actions and verbalized the President's requests regarding the investigation and Cox.

    Cox's successor, Leon Jaworski, testified before the House Judiciary Committee. Jaworski was adamant that President Nixon has given him a free hand in his conduct of the Watergate investigation. Chief of staff Haig noted that Jaworski could sue the President if documents and evidence he requests are not turned over. The committee then ended its hearings and began drafting a bill to transfer control of Jaworski to the courts rather than the executive branch. [CBS]

  • Nixon re-election campaign assistant Benjamin Fernandez denied offering Florida building contractor John Priestes government favors in return for a $100,000 campaign contribution. Fernandez appeared before the Senate Watergate Committee today. [CBS]
  • The Miami Herald reported that Larry Williams, a former fundraiser for Watergate committee member Senator Edward Gurney, has agreed to plead guilty and provide the prosecution with information regarding Gurney's finances. [CBS]
  • The Vietnam war has begun again. Saigon and Hanoi each claimed that the other side restarted the fighting. [CBS]
  • Industry leaders and Congress generally approved President Nixon's proposals for meeting the energy crisis. Senate Interior Committee chairman Henry Jackson believes that legislation could be ready for the Senate floor as soon as next Tuesday.

    Buildings in Washington, DC have turned down their thermostats to save energy; state and federal vehicles have been ordered not to exceed 50 m.p.h. in order to save gasoline. These were among the President's voluntary requests to conserve energy. Nixon's quarters in the White House have been turned down to 65-68 degrees. Commerce Secretary Frederick Dent stated that the energy crisis can be thwarted if each citizen complies with voluntary cutbacks. But if citizens neglect the call for conservation, social, economic and political disruption may follow.

    There is a "lights out" policy in effect for Washington and press secretary Ron Ziegler reported that the President's airplanes and helicopters will reduce their speeds along with other government vehicles. [CBS]

  • Police arrested two fugitives in Sacramento; the men are suspects in the mass murders in Victor, California. Police surrounded a hotel and arrested Douglas Gretzler. Later, Willie Steelman was also arrested as an accomplice in the crimes. The two fugitives were also wanted in New York and Arizona for murder. [CBS]
  • In Santa Cruz, California, Edmund Kemper was ruled to be sane and then was found guilty of murdering his mother and seven other women. Kemper murdered his paternal grandparents 10 years ago. [CBS]
  • The gunmen who held an entire family hostage in Wadena, Minnesota, yesterday were arraigned today in Minneapolis. The hostages escaped and the escaped convicts John P. Morgan and William Winnes were then arrested. Elmer Wegscheid, the father of the family who was held, explained how the hostages got away; the family insists that Morgan didn't want to kill the Wegscheid family but just wanted attention. [CBS]
  • A public health emergency has been declared in New York City because of the strike by nonmedical hospital personnel. Sporadic violence developed today along some picket lines. Many patients were sent home, or to nursing homes; only emergency victims were taken at hospitals. Lab technician Harriet Smith stated that the government provoked the strike action because workers can't support their families on their current salaries. [CBS]
  • A report from a private research group revealed that aerosol sprays are unsafe. The "Center for Science in the Public Interest" conducted the study. [CBS]
  • Presidential adviser Melvin Laird reported that President Nixon will reconsider the 30 cents per gallon tax levy on gasoline. [CBS]


Stock Market Report

Dow Jones Industrial Average: 932.65 (+12.57, +1.37%)
S&P Composite: 107.02 (+1.22, +1.15%)
Arms Index: 0.67

IssuesVolume*
Advances1,00713.32
Declines4614.09
Unchanged3172.24
Total Volume19.65
* 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*
November 7, 1973920.08105.8016.57
November 6, 1973913.08104.9616.43
November 5, 1973919.40105.5217.15
November 2, 1973935.28107.0716.34
November 1, 1973948.83107.6916.92
October 31, 1973956.58108.2917.89
October 30, 1973968.54109.3317.58
October 29, 1973984.80111.1517.96
October 26, 1973987.06111.3817.80
October 25, 1973974.49110.5015.58


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