News stories from Thursday August 15, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Former President Nixon was subpoenaed to testify in the forthcoming Watergate cover-up trial as a defense witness for John Ehrlichman, who had been Mr. Nixon's chief domestic affairs adviser. The effectiveness of the subpoena was uncertain, however, because Mr. Nixon faces possible prosecution on charges in the Watergate case. In response to delay motions by several indicted Watergate defendants, Leon Jaworski, the special Watergate prosecutor, told Federal District Court Judge John Sirica that "reasonable" delay in the cover-up trial was warranted. The trial had been scheduled to start Sept. 9. [New York Times]
- Members of the American Bar Association at their convention in Honolulu unanimously approved a resolution intended to discourage a grant of immunity from criminal prosecution to Mr. Nixon. The resolution, unopposed by the association's 340-member House of Delegates, proposes that laws should be enforced impartially, regardless of the "position or status" of any alleged violator. [New York Times]
- The possibility that someone was sneaking false statements into the Congressional Record under the names of lawmakers set off an investigation by House leaders. In today's Record a statement attributed to Representative Earl Landgrebe, Indiana Republican, urged President Ford to appoint Richard Nixon as Vice President and then resign, and another, attributed to Representative John Ashbrook, Ohio Republican, praised Chile's military regime. Both statements were denied by both men, who asked that they be expunged. [New York Times]
- The House, voting 202 to 197, barely sustained the concept of federal mass-transit subsidies, and then voted to require municipalities to put up $2 for every federal subsidy dollar. Both votes reflected wide disinclination by Congressmen to be responsible for saving New York City's 35-cent fare. Debate on the $20.4 billion bill, which the House is expected to trim sharply, was carried over to Monday. [New York Times]
- The 48-year-old wife of President Park Chung Hee of Korea died from an assassin's bullet evidently intended for her husband. The attack came as Mr. Park delivered a Liberation Day Speech in the National Theater in Seoul. Mrs. Park had two daughters and a son. The killer was identified as Mun Se Kwang, 22 years old, a Korean who lived in Osaka, Japan. [New York Times]
- Premier Constantine Caramanlis of Greece told his country that the government would not go to war over Cyprus. He said that Greece could not land troops on the island because it was too far away, and that Turkey already had an overwhelming military advantage. An invasion, the Premier said, could not be attempted without the risk of weakening the defense of Greece. [New York Times]
- The Turkish forces moved east and west across northern Cyprus in an attempt to cut the island in two. In the east, armored columns entered the port city of Famagusta, and in the west other forces appeared headed toward Morphou Bay. Greek Cypriotes could not match the Turkish military force and as their resistance dwindled, thousands of Greek Cypriote civilians fled their overrun villages and towns to the safety of the south. [New York Times]
- The United States has informed Greece, Turkey and Cyprus of its willingness to take an active mediating role in ending the Cyprus crisis and asked for suggestions on how to resume peace talks. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 737.88 (-2.66, -0.36%)
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* |
| August 14, 1974 | 740.54 | 76.73 | 11.75 |
| August 13, 1974 | 756.41 | 78.49 | 10.14 |
| August 12, 1974 | 767.29 | 79.75 | 7.78 |
| August 9, 1974 | 777.30 | 80.86 | 10.16 |
| August 8, 1974 | 784.89 | 81.57 | 16.06 |
| August 7, 1974 | 797.56 | 82.65 | 13.38 |
| August 6, 1974 | 773.78 | 80.52 | 15.77 |
| August 5, 1974 | 760.40 | 79.29 | 11.23 |
| August 2, 1974 | 752.58 | 78.59 | 10.11 |
| August 1, 1974 | 751.10 | 78.75 | 11.47 |