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Thursday January 24, 1974
. . . where the 1970s live forever!

News stories from Thursday January 24, 1974


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

  • Egil Krogh, chief of the White House "plumbers" unit, exonerated President Nixon of any involvement regarding the break-in of Daniel Ellsberg's psychiatrist's office. Krogh received a six-month prison sentence.

    Krogh said that John Dean misunderstood his explanation of the origin of the orders for the plumbers unit. Krogh didn't directly accuse John Ehrlichman of being involved, but he didn't exonerate him either. Krogh refused to comment on the possibility of the President being impeached. The White House was buoyant over Krogh's statement. [CBS]

  • Defense Secretary James Schlesinger discussed the investigation into leaks of top secret information from the National Security Council to the Pentagon. Schlesinger backed up Admiral Thomas Moorer and stated that no spy ring existed in his opinion. Schlesinger admitted that "improprieties" existed but no illegalities. Schlesinger had no kind words for the White House plumbers unit. [CBS]
  • Senator Mike Mansfield criticized Defense Secretary Schlesinger for injecting his personal views into sensitive foreign affairs. [CBS]
  • Peter Rodino, chairman of the House Judiciary Committee, said that information from the special Watergate prosecutor's office may be forthcoming. Rodino believes that Leon Jaworski will find a way to cooperate with the committee's need for information. Three possible avenues are open to the committee to obtain the necessary information for its impeachment probe. They include legislation, a request to Judge John Sirica or subpoenas. [CBS]
  • Nearly four years ago, President Nixon made some statements during the impeachment inquiry of Supreme Court Justice William O. Douglas that haunt him now. The President made a commitment in those statements to comply fully with any impeachment investigation by the House. Press secretary Ron Ziegler refused to answer questions regarding the President's thoughts on impeachment now that he is the one under investigation. [CBS]
  • Rejecting a last-minute appeal from Prime Minister Heath, leaders of Britain's miners' union ordered a strike vote that could lead to a shutdown of the nation's coal mines. The major setback to efforts to settle the wage dispute came as the government reported the largest monthly increase in unemployment since 1945. [New York Times]
  • Responding angrily to charges by Senator Henry Jackson and members of his subcommittee investigating the energy shortage, the oil industry sharply criticized the conduct of this week's hearings and defended itself against a range of accusations leveled by the Senators. One of the seven industry executives who testified at the hearings said the sessions had been run like "a criminal trial" with the executives given no chance to "face our accusers." [New York Times]
  • Two Arab terrorists were sentenced to death after having pleaded guilty to murdering five persons and wounding 55 in a grenade attack at the Athens airport last summer. The sentences were imposed after a one-day trial in the Athens criminal court before four judges and three jurors. Despite the death sentences, many in Athens believe the terrorists will be pardoned. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 863.08 (-7.92, -0.91%)
S&P Composite: 96.82 (-0.25, -0.26%)
Arms Index: 1.03

IssuesVolume*
Advances6656.54
Declines7477.54
Unchanged3741.90
Total Volume15.98
* 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*
January 23, 1974871.0097.0716.89
January 22, 1974863.4796.5517.33
January 21, 1974854.6395.4015.63
January 18, 1974855.4795.5616.47
January 17, 1974872.1697.3021.04
January 16, 1974856.0995.6714.93
January 15, 1974846.4094.2313.25
January 14, 1974840.1893.4214.61
January 11, 1974841.4893.6615.14
January 10, 1974823.1192.3916.12


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