News stories from Monday November 19, 1973

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

The Nixon administration raised the possibility of a ban on Sunday driving; four European nations have already instituted such a ban. The Senate today passed emergency legislation giving the President broad powers to deal with the energy crisis. Amendments to curtail school busing for integration and to exempt commercial vehicles from obeying the new speed limit regulations were defeated, however. The bill which was passed authorizes the President to impose rationing but it must be passed by House next.Presidential assistant for fuel policy Charles DiBona appeared on Capitol Hill and outlined possible prohibitions for aircraft and boat fuels. Other plans to counteract the energy crisis include gasoline reduction plans. Joint Economic Committee chairman William Proxmire asked about a Sunday driving ban; DiBona replied that it is a real possibility. However, administration energy czar John Love stated that although having gas stations be closed on Sundays is possible, no plans for a driving ban is in the works. [CBS] Postmaster General Elmer Klassen reported that air flight cutbacks could hinder mail delivery. The Environmental Defense Fund urged that intercity buses be exempt from the 50 m.p.h. speed limit. Agriculture Secretary Butz said that wheat sales to Arab countries shouldn't be stopped in retaliation for their oil embargo. West Germany and Denmark announced a ban on Sunday driving. [CBS] During President Nixon's latest offensive regarding Watergate, he aimed barbs at Congress; resentment was obvious today on Capitol Hill. Democrats were particularly angered by the President's attack on Congress during last Saturday night's speech to the convention of Associated Press editors. [CBS] President Nixon will meet with Republican governors at their conference in Memphis.A Gallup poll reveals that Republicans are being affected by Watergate, and the prospects for re-election of Republican members of Congress would be dim if the election were held now. Allegiance to the Republican party has dwindled throughout the country. New York Governor Nelson Rockefeller stated that the Watergate scandal may help the country get back to basic, fundamental values. California Governor Ronald Reagan believes that the drop in Republican popularity could just reflect people's disillusionment with politics and politicians. [CBS] No member of Congress may take another government post at a higher salary; Senate Judiciary Committee chairman Robert Byrd declared that Attorney General nominee William Saxbe can't accept the nomination because of that law. [CBS] President Nixon was to have surrendered the White House tapes by tomorrow, but Judge John Sirica has delayed that action because presidential lawyer Samuel Powers is ill. [CBS] The Senate Watergate committee suspended staff investigator Scott Armstrong for leaking information to Rolling Stone magazine. [CBS] Israeli and Egyptian officials met at Checkpoint 101 to determine which soldiers should return to which cease-fire line. No progress was reported. Israel reported that clashes occurred today along the Suez front and in the Golan Heights. [CBS] A Lebanese newspaper reported that Saudi Arabia is on the on verge of establishing diplomatic relations with the Soviet Union for first time. King Faisal has accepted an invitation to visit Russia. [CBS] A Greek military tribunal handed down stiff penalties for violations of martial law in Athens. Mass arrests have occurred there. Students, professors, left-wing members of Parliament and workers are being detained. In Athens, all persons are under surveillance. President Papadopoulos was not happy over the filming of the enforcement of martial law. The violence started at a university over the weekend; the Army and the police now control the universities. [CBS] Cambodian President Lon Nol was the victim of an assassination attempt. A plane dropped bombs on the presidential palace in Phnom Penh, but Nol was uninjured. [CBS] The press reported an incident of President Nixon "slapping" or patting admirer Sgt. Edward Kleizo in Orlando, Florida. The White House said that the story constitutes twisted, unethical and unprofessional reporting. Kleizo confirmed that the President did not slap him, but affectionately tapped him on the cheek. [CBS] The Supreme Court agreed to rule on a Detroit school desegregation case, and will also hear the case of a law student who claims that a university turned down his application for admission because he is white. [CBS] The United Auto Workers reached an agreement with General Motors on a new contract. [CBS] The two pandas from China were moved into new living quarters at the Washington National Zoo. A new dividing wall received no approval from either panda. Hsing-Hsing and Ling-Ling are upset over the new living arrangements. [CBS]

Stock Market Report

Dow Jones Industrial Average: 862.66 (-28.67, -3.22%)
S&P Composite: 100.71 (-3.17, -3.05%)
Arms Index: 2.50

	Issues	Volume*
Advances	198	0.86
Declines	1,404	15.22
Unchanged	226	0.62
Total Volume		16.70

* 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
Date	DJIA	S&P	Volume*
November 16, 1973	891.33	103.88	22.51
November 15, 1973	874.55	102.43	24.53
November 14, 1973	869.88	102.45	22.71
November 13, 1973	891.03	104.36	20.31
November 12, 1973	897.65	104.44	19.25
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