News stories from Thursday March 28, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Bradford Cook testified at the Mitchell-Stans trial that Maurice Stans had admitted lying to a federal grand jury. Mr. Cook, who said he himself had twice lied to the same grand jury while he was chairman of the Securities and Exchange Commission, said Mr. Stans had made the admission during a meeting between the two men at the White House mess hall. [New York Times]
- Attorney General William Saxbe has asked the United States Court of Appeals to sustain President Nixon's refusal to give the Senate Watergate committee five White House tapes. Mr. Saxbe's request was his first intervention in a Watergate lawsuit. Senator Sam Ervin, the committee chairman, accused the Attorney General of violating "his solemn agreement'' to leave all Watergate matters to the special Watergate prosecutor. [New York Times]
- It is a matter of court record that at least 10 of the 42 presidential conversations reportedly sought by the House Judiciary Committee were never recorded, according to a White House spokesman, who declined to say whether any of the others had also not been recorded. The 10 conversations were between President Nixon and his aides last April 15. [New York Times]
- Political treasuries for the fall congressional campaigns are already filled with at least $14.2 million, according to a study by Common Cause, the lobbying group. The report said that the figure included $11.6 million that had been set aside by special interest groups, such as labor unions, business organizations and industry groups. [New York Times]
- Congress gave its final approval to legislation that would raise the federal minimum wage for most workers by 25 percent, with further increases next year. [New York Times]
- Secretary of State Kissinger returned to Washington after three days of talks with Soviet leaders had failed to achieve the "conceptual breakthrough" that he had hoped would lead to a new Soviet-American strategic arms agreement. This apparently means that President Nixon will not be able to sign an accord during his expected visit to the Soviet Union in June. [New York Times]
- Secretary of Defense Schlesinger said that President Nixon would not rush into a strategic arms limitation agreement with the Soviet Union just to improve his domestic political position. In response to questions at a news conference, Mr. Schlesinger said that if the Soviet Union believed it could take advantage of President Nixon's difficulties over Watergate it would "soon be disabused of this notion." [New York Times]
- West European diplomats are baffled by Secretary of State Kissinger's assertion that the United States is no longer interested in obtaining any new written definition of American-European relationships. After Mr. Kissinger's call last year for "a new Atlantic charter," a draft statement was prepared by the 15-nation North Atlantic Treaty Organization and work on a separate declaration by the United States and the Common Market was begun. [New York Times]
- Syria served notice that Israel must recognize "Palestinian national rights" and her "obligation to withdraw from all the Arab territories" she occupies to achieve a disengagement with Syria on the Golan Heights. The assertion was made on the last day of an Arab ministers' conference in Tunis by Syria's Foreign Minister, Abdel Halim Khaddam, who said Syria would send a representative to Washington next month to start discussions on disengagement. [New York Times]
- The "France", the largest and most luxurious of the world's vanishing ocean liners, is to be retired from service, probably within the next six weeks. The fate of the ship, a victim of rising operating deficits aggravated by rising fuel costs, is not known. There are reports, however, that the Arab League may be interested in buying the vessel to transport pilgrims to Mecca. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 854.35 (-16.82, -1.93%)
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 27, 1974 | 871.17 | 96.59 | 11.69 |
| March 26, 1974 | 883.68 | 97.95 | 11.84 |
| March 25, 1974 | 881.02 | 97.64 | 10.54 |
| 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 |