News stories from Monday April 29, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon announced tonight that he would turn over to the House Judiciary Committee and make public tomorrow 1,200 pages of edited transcripts of Watergate conversations. Appearing on national television in a plea to the American people to believe that he is innocent in the Watergate cover-up, Mr. Nixon said the transcripts included those portions of the 42 tape recordings subpoenaed by the House committee on April 11.
President Nixon's offer of edited transcripts of Watergate recordings delighted some Republicans on the House Judiciary Committee, but may not have resolved the panel's demand for the tapes themselves. The committee's chairman, Representative Peter Rodino, said before the President's offer on television that the recordings were "necessary and relevant" to the impeachment inquiry and that transcripts would not suffice. An aide said tonight that Mr. Rodino would have no additional comment.
[New York Times] - Senator Edward Gurney has been indicted by a grand jury in Tallahassee, Fla., on charges of violating state election law, the Senator's office in Washington said. The Florida Republican immediately declared his innocence. He allegedly failed to report campaign donations. [New York Times]
- Senator J. W. Fulbright, Democrat of Arkansas, is seriously in danger of being defeated for a sixth term by the state's Governor. Dale Bumpers. With the Democratic primary a month away, even Mr. Fulbright's friends and advisers acknowledged that he had an uphill fight to retain his seat. A polling organization said last month that Governor Bumpers, a Democrat, would have 60 percent of the vote, and Senator Fulbright 27 percent. [New York Times]
- The Chrysler Corporation increased the price of its 1974 model cars an average of $99, predicted that another price rise would be needed before next September, and issued a report that showed its earnings for the first quarter were down 96.9 percent.
John Dunlop, the government's chief price enforcer, fired a broadside of criticism at Chrysler and its chairman, Lynn Townsend, for raising the price of its 1974 models.
[New York Times] - Bacteria apparently frozen in the Antarctic ice and soil for at least 10,000 years have grown and reproduced in the laboratory, scientists in Washington reported. The bacteria were found in permanently frozen sediments at depths of several hundred feet below the present-day surface. [New York Times]
- The New Jersey state Assembly overwhelmingly approved a constitutional amendment that would authorize casino gambling in the state. The amendment is expected to be approved by the state Senate next month and by the voters in a referendum in November. [New York Times]
- The United States and the Soviet Union agreed, in a joint statement, to use their influence and coordinate the efforts to achieve "a positive outcome" of the Middle East negotiations. The statement, issued after a meeting in Geneva between Secretary of State Kissinger and the Soviet Foreign Minister, Andrei Gromyko, was interpreted by Americans as a boost to Mr. Kissinger's efforts to bring about a troop separation between Syria and Israel. It also seemed to meet Moscow's insistence that the Soviet Union be permitted to share more fully in the negotiations, which have been dominated by the United States. [New York Times]
- The major Portuguese parties of the left and center differed with the nation's leader, Gen. Antonio de Spinola, over the long-range program of keeping the African territories tied to Portugal. Leaders of the Portuguese Democratic Movement, an organization of Socialists, Communists and Christian Democrats, said after meeting with the general that they wanted an immediate end to the fighting in Portuguese Guinea, Mozambique and Angola. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 835.42 (+0.78, +0.09%)
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* |
| April 26, 1974 | 834.64 | 90.18 | 13.25 |
| April 25, 1974 | 827.68 | 89.57 | 15.87 |
| April 24, 1974 | 832.37 | 90.30 | 16.01 |
| April 23, 1974 | 845.98 | 91.81 | 14.11 |
| April 22, 1974 | 858.57 | 93.38 | 10.52 |
| April 19, 1974 | 859.90 | 93.75 | 10.71 |
| April 18, 1974 | 869.92 | 94.78 | 12.47 |
| April 17, 1974 | 867.41 | 94.36 | 14.02 |
| April 16, 1974 | 861.23 | 93.66 | 14.53 |
| April 15, 1974 | 843.79 | 92.05 | 10.13 |