News stories from Monday July 1, 1974

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

President Juan Peron of Argentina, one of the most controversial political figures in Latin American history, died in Buenos Aires, reportedly of heart disease, at the age of 78. The announcement of his death was made by his wife, Vice President Isabel Peron. She assumes the presidency, becoming the first woman chief of state in the Americas. [New York Times] Peter Rodino, chairman of the House Judiciary Committee agreed, in an apparent attempt at conciliation, to summon all of the witnesses proposed by President Nixon's defense lawyer for the impeachment hearings which are scheduled to resume tomorrow. But this failed to stem growing partisan friction in the committee and the House in general. [New York Times] Leon Jaworski, the Watergate special prosecutor, said that the Watergate grand jury had named President Nixon as an unindicted co-conspirator so that any evidence he might have would be admissible in any trial of members of the alleged conspiracy. He stated this in legal papers filed in the Supreme Court and it raised the prospect that the government might attempt to summon Mr. Nixon to testify against his former aides in the cover-up trial scheduled to start in September. [New York Times] Marcus Wayne Chenault, a 23-year-old former college student from Columbus, Ohio, accused of shooting to death the mother of the late Rev Dr. Martin Luther King Jr. and also a deacon in an Atlanta church Sunday, was arraigned in Municipal Court there. The defendant, who is black, said he was "a Hebrew" and gave his name to the court as "Servant Jacob." Judge E.T. Brock entered pleas of not guilty to two charges of murder, two of carrying concealed weapons and one of assault. [New York Times] Robert Maheu won his defamation suit today against his former employer, Howard Hughes, who told reporters that he dismissed Mr. Maheu because "he stole me blind." Mr. Maheu had sued for $17.3 million in damages. A $4.5 million counter-claim by the Hughes interests was rejected by the jury. The financial value of the damages claimed by Mr. Maheu will be decided at a hearing in October. [New York Times] The Mobil Oil Corporation was indicted for alleged criminal violations of New York's antitrust laws and charged with "willfully, knowingly, corruptly and unlawfully" forcing its metropolitan area gasoline dealers, under threat of the loss of their leases, to carry the company's brand of automotive accessories. At the same time, the special state grand jury reportedly has voted additional criminal indictments against other major oil companies. [New York Times] Investigators said that lack of an emergency fire detection system in addition to an interior layout that forced scores of patrons to flee up a single exit stairway were the major reasons for the high death toll in Sunday morning's fire at Gulliver's night club in Port Chester, New York. [New York Times] Residents of Minsk, the capital of the Byelorussian Republic, turned out in substantial numbers to greet President Nixon. The city was decorated with red banners and enormous portraits of Lenin, Leonid Brezhnev and other Soviet officials, to celebrate the 30th anniversary of its liberation from the Germans in World War II. The anniversary evoked memories of the Soviet-American alliance during the war. President Nixon, who was accompanied by Mrs. Nixon, used every occasion to mingle with the crowds. [New York Times] Soviet authorities thwarted an unofficial scientific seminar planned by a group of Jewish scientists who were barred from working since they applied to emigrate to Israel. More than a half dozen of the seminar's organizers have been jailed recently. Three others who showed up for the meeting today were arrested. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 806.24 (+3.83, +0.48%)
S&P Composite: 86.02 (+0.02, +0.02%)
Arms Index: 0.91

	Issues	Volume*
Advances	570	3.79
Declines	782	4.73
Unchanged	395	1.75
Total Volume		10.27

* 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*
June 28, 1974	802.41	86.00	12.01
June 27, 1974	803.66	86.31	12.65
June 26, 1974	816.96	87.61	11.41
June 25, 1974	828.85	88.98	11.92
June 24, 1974	816.33	87.69	9.95
June 21, 1974	815.39	87.46	11.83
June 20, 1974	820.79	88.21	11.99
June 19, 1974	826.11	88.84	10.55
June 18, 1974	830.26	89.45	10.11
June 17, 1974	833.23	90.04	9.68