News stories from Monday March 25, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- John Dean, former White House counsel to President Nixon, testified in Federal District Court in New York that John Mitchell and Maurice Stans, former cabinet officers, were totally involved in efforts to keep Robert Vesco's financial affairs secret at least until after the President's re-election. Mr. Dean had been expected to be the government's star witness in the Mitchell-Stans trial, and, as far as the prosecution was concerned, he lived up to that expectation. [New York Times]
- A Watergate grand jury's secret report dealing with President Nixon will be sent to the impeachment investigators in the House tomorrow. The deadline for the last appeals to block transfer was 5 P.M. today, and no appeals to the Supreme Court were filed. Federal District Judge John Sirica notified House investigators that the report and supporting evidence, held since March 1 at the Federal Court in Washington, could be picked up at 9:30 A.M. tomorrow. [New York Times]
- The White House escalated its criticism of the House Judiciary Committee, suggesting that its staff "should perhaps work late into the evening" to complete quickly a preliminary assessment of the impeachment evidence against President Nixon. Ron Ziegler told newsmen that "we feel that they should move within a matter of weeks" to complete the assessment. [New York Times]
- The McDonnell-Douglas Corporation, manufacturer of the DC-10 jumbo jet involved in history's greatest air crash, said that the plane left the factory apparently lacking a critical cargo door design change even though company records indicated that the change had been made. Most experts believe that the March 3 crash of a Turkish Airlines jet near Paris, in which 346 people died, was probably caused by failure of the cargo door. Congressional hearings are about to begin on the cause of the crash. [New York Times]
- A New Jersey environmental law prohibiting the dumping of out-of-state garbage was ruled unconstitutional by the state Superior Court in Trenton on the ground that the ban was an unlawful interference with interstate commerce. The decision prompted a deputy state attorney general to warn that New Jersey, the most densely populated state in the country, "could become the garbage capital of the world." [New York Times]
- Leonid Brezhnev, the Communist party leader, and Secretary of State Kissinger began a series of crucial discussions with eight hours of talks in the Kremlin devoted mostly to Europe and the prospects for a new Soviet-American agreement on the limitation of strategic weapons. [New York Times]
- The Soviet Union, increasingly at odds with the policies of President Anwar Sadat of Egypt, published an attack in Pravda, the official Communist party newspaper, on Cairo's drift away from the Socialist program of the late President Gamal Abdel Nasser. Pravda's call for Mr. Sadat to halt the "vilification" of Mr. Nasser and his policies suggested that Moscow has become both bitter and fearful that Egypt, once the anchor of Soviet influence in the Middle East, is not only moving toward the West in foreign policy, but also gradually dismantling the socialist economy that Soviet aid was intended to promote. [New York Times]
- Reliable Uganda sources said that Gen. Idi Amin's military government had begun systematic killings of army officers believed to have been involved in an abortive uprising over the weekend. Kampala, the capital, was back to normal after the fighting. The government radio ignored the revolt. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 881.02 (+2.89, +0.33%)
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* |
| March 22, 1974 | 878.13 | 97.27 | 11.93 |
| March 21, 1974 | 875.47 | 97.34 | 12.95 |
| March 20, 1974 | 872.34 | 97.57 | 12.96 |
| March 19, 1974 | 867.57 | 97.23 | 12.80 |
| March 18, 1974 | 874.22 | 98.05 | 14.01 |
| March 15, 1974 | 887.83 | 99.28 | 14.50 |
| March 14, 1974 | 889.78 | 99.65 | 19.77 |
| March 13, 1974 | 891.66 | 99.74 | 16.82 |
| March 12, 1974 | 887.12 | 99.15 | 17.25 |
| March 11, 1974 | 888.45 | 98.88 | 18.47 |