News stories from Monday November 12, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Braniff Airways and its chairman Harding Lawrence admitted contributing illegally to the 1972 Nixon re-election campaign. Both will be fined. [CBS]
- Republican "dirty tricks" specialist Donald Segretti began serving his six-month sentence for political sabotage. [CBS]
- The Maryland bar association began formal disbarment proceedings for former Vice President Spiro Agnew. The Northern Virginia bar association has launched an investigation into the possible disbarment of former presidential counsel John Dean. [CBS]
- Congressional investigators are probing possible criminal activities of the Small Business Administration. [CBS]
- A dispute has arisen over the Mideast peace agreement involving Israeli and United Nations troops. The dispute concerns who will check the supplies which are being sent to the trapped Egyptian 3rd army. Meanwhile, more 3rd army soldiers surrendered to the Israelis. In New York, United Nations Secretary General Waldheim reprimanded Israel for upsetting a U.N. checkpoint. [CBS]
- Secretary of State Henry Kissinger met with Chinese leaders in Peking. Kissinger summarized the Mideast peace plan for reporters traveling with the party. Kissinger met earlier today with Chinese Premier Chou En-lai and later with Chairman Mao Tse-tung to discuss world problems, including the Mideast. Speaking later with reporters, Kissinger explained the reasons for U.S. support of Israel in the Mideast conflict. He noted that no settlement can be guaranteed, but the differences between Israel and Egypt are hopefully being narrowed. [CBS]
- In Tel Aviv, Israeli premier Golda Meir said that the proposed December peace conference regarding the Mideast was news to her. [CBS]
- The two men who have been charged with murdering nine persons in Victor, California, may be responsible for many more murders. Willie Steelman and Douglas Gretzler gave information to the police regarding the locations of the bodies of their other victims. [CBS]
- In Fort Lauderdale, Florida, a gang of black men abducted a white man and his black wife. The man, Brian Barfield, was then set afire by the gang. Barfield is in serious condition. [CBS]
- In a Manhattan criminal court, a kidnapper shot his accuser and then himself. Both were critically wounded. [CBS]
- Non-medical hospital personnel ended their week-long strike in New York City. The strikers voted to accept a compromise of their demands. [CBS]
- A budget clash between Congress and the Nixon administration is forthcoming. The Department of Health, Education and Welfare appropriations bill is expected to pass easily but a presidential veto is likely. The bill is the one responsible for funding most social programs.
Because of the threatened cutback in social programs, a school which trains midwives in Phoenix, Arizona, may be forced to cut its enrollment by half. A project in Seattle identifies babies who are likely to have behavioral and learning problems later. This program, which is funded by the federal government, may also be cut.
[CBS] - The recovery progress of former U.S. POWs in Vietnam seems to be exceptional. U.S. defense officials reported that the POWs' emotional and physical recoveries are generally good. [CBS]
- More defects were found in the rocket to be used for the Skylab 3 mission. The launch has been postponed again. [CBS]
- The House passed the bill giving the go-ahead for the Alaska oil pipeline. The Senate will consider the measure next.
A Senate committee approved legislation to try to offset the energy crisis. Gasoline rationing is a possibility. Administration energy czar John Love believes that rationing may be necessary by the beginning of next year; fuel costs are expected to rise also. AFL-CIO president George Meany called for an excess profits tax on oil companies. Environmental Protection Agency director Russell Train stated that he supports legislation to temporarily lift clean air standards for power plants and factories, so they can make use of less clean fuels.
[CBS] - CBS chairman William Paley reported that news analyses following major speeches will be resumed. [CBS]
- England is preparing for the wedding of Princess Anne to Mark Phillips. The technical rehearsal of the wedding occurred today. In a BBC interview, the couple admitted that they are nervous. [CBS]
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Dow Jones Industrial Average: 897.65 (-10.76, -1.18%)
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* |
| November 9, 1973 | 908.41 | 105.30 | 17.32 |
| November 8, 1973 | 932.65 | 107.02 | 19.65 |
| November 7, 1973 | 920.08 | 105.80 | 16.57 |
| November 6, 1973 | 913.08 | 104.96 | 16.43 |
| November 5, 1973 | 919.40 | 105.52 | 17.15 |
| November 2, 1973 | 935.28 | 107.07 | 16.34 |
| November 1, 1973 | 948.83 | 107.69 | 16.92 |
| October 31, 1973 | 956.58 | 108.29 | 17.89 |
| October 30, 1973 | 968.54 | 109.33 | 17.58 |
| October 29, 1973 | 984.80 | 111.15 | 17.96 |