News stories from Thursday December 6, 1973

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

Gerald Ford took the oath of office as the new Vice President of the United States. Ford's day also included talks with Secretary of State Henry Kissinger, House Speaker Carl Albert, relatives and friends. The House of Representatives voted 387 to 35 in favor of confirmation, and Ford was sworn in an hour later. Ford stated that he will uphold the Constitution and be as good a Vice President as possible for America. Those seeking the impeachment or resignation of President Nixon now see an opening towards that goal. [CBS] Effects of the fuel shortage on prices are becoming more evident. The overall wholesale price index leaped 1.6% for November due to fuel price increases. Administration economic adviser Herbert Stein said that such an increase was unavoidable and possibly even desirable. Democrat Senator William Proxmire declared that the latest figures show the Nixon administration's anti-inflation drive has collapsed. [CBS] Energy czar William Simon insisted that gasoline rationing won't be put into use until March, if it is used at all. Simon appeared before a Senate hearing today to discuss rationing. Senator Henry Jackson pressed Simon for a specific date when gasoline rationing might begin. Simon replied that the type of rationing must be decided before any timetable can be set up. He stated that March 1 would be the earliest possible date that rationing could be implemented. [CBS] Truckers blockaded major highways again to protest high fuel costs and lower speed limits. Ohio Governor John Gilligan called in the state police to clear I-70 and the Ohio turnpike. Minor scuffles occurred; a dozen drivers were arrested. Some truckers who were not participating in the protest were caught in the blockade anyway. Late in the afternoon, the truckers pulled out. [CBS] The Amish are mainly unhurt by the energy crisis. They drive carriages and live in houses without electricity. Rising food costs do affect the Amish somewhat. Progress is shunned in Amish communities. [CBS] New York City subways, buses and commuter trains cut their fares in half on Sunday to help increase usage and ease gasoline shortage problems. [CBS] Israeli Defense Minister Moshe Dayan will meet with Secretary of State Henry Kissinger in Washington tomorrow; they will discuss the Mideast situation. In Tel Aviv, Prime Minister Golda Meir received strong support from the ruling labor party's central committee. Israeli military sources reported that Mideast cease-fire violations have been numerous. Preparations for battle continue on both the Israeli and Egyptian sides. [CBS] Secretary of State Henry Kissinger held a news conference today; his anxiety about Mideast and the energy crisis was obvious. Regarding the Mideast, Kissinger believes the cease-fire will remain intact. Questioned about President Nixon, Watergate and foreign policy, Kissinger conceded that the U.S.' ability to deal firmly and wisely in foreign policy has been jeopardized. Kissinger assured Congress that the War Powers Act contains no loopholes for the President to involve the American military in Indochina again without congressional approval. [CBS] President Nixon named Walter Stoessel, Jr. as ambassador to the Soviet Union, succeeding Jacob Beam. [CBS] President Nixon's chief of staff Alexander Haig appeared today before Judge John Sirica to discuss the White House tape with the 18-minute gap. Haig outlined two theories which were discussed amongst Haig, the President and White House lawyers to explain the gap. Haig explained the "devil theory" and the theory that President Nixon's personal secretary Rose Mary Woods erased the tape innocently. Haig said he believes the gap is totally innocent. Sirica will bring the public hearings regarding the 18-minute gap to an end, but now a new tape controversy is brewing. Special Watergate prosecutor Leon Jaworski will subpoena the other White House tapes soon unless the President turns over the requested tapes. [CBS] The FBI released details of J. Edgar Hoover's three-year attack on the "new left" movement. [CBS] Fugitive financier Robert Vesco has been granted permission to live in Argentina. Vesco was indicted along with former Attorney General John Mitchell and former Treasury Secretary Maurice Stans on campaign finance-related charges involving the Nixon '72 re-election effort. [CBS] Senator William Proxmire filed a lawsuit charging Robert Bork with illegally holding office as acting Attorney General. [CBS] The Senate passed and sent to the White House the $33 billion appropriations bill which provides funds for Department of Health, Education and Welfare programs. [CBS] A federal judge freed three members of the "Chicago 7" and their attorney William Kunstler from having to serve sentences after being convicted on contempt of court charges. [CBS] President Nixon signed legislation to rectify the "Brownsville Affair" of 1906. One surviving member of the incident, Dorsey Willis, talked to reporters in Minneapolis. Willis, now 87 years old, was honored in a ceremony earlier this year and presented with honorable discharge papers from the Army. Today the President signed a bill providing $25,000 compensation for Willis. Willis stated that he's not bitter over the matter although he knows he's been treated shamefully. [CBS] Ralph Nader's research group issued a warning about certain Christmas candles containing lead wicks. [CBS] Pioneer 10's photographs of Jupiter are being studied intensely. Pioneer should continue to broadcast for at least five more years as it soars away from Jupiter and into space. [CBS]

Stock Market Report

Dow Jones Industrial Average: 814.12 (+25.81, +3.27%)
S&P Composite: 94.42 (+2.26, +2.45%)
Arms Index: 0.46

	Issues	Volume*
Advances	977	16.40
Declines	548	4.22
Unchanged	309	2.64
Total Volume		23.26

* 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*
December 5, 1973	788.31	92.16	19.18
December 4, 1973	803.21	93.59	19.03
December 3, 1973	806.52	93.90	17.90
November 30, 1973	822.25	95.96	15.38
November 29, 1973	835.11	97.31	18.87
November 28, 1973	839.78	97.65	19.99
November 27, 1973	817.73	95.70	19.75
November 26, 1973	824.95	96.58	19.83
November 23, 1973	854.00	99.44	11.47
November 21, 1973	854.98	99.76	24.26