News stories from Thursday December 26, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- William Frates, John Ehrlichman's chief defense lawyer, told the jury in his closing argument at the Watergate cover-up trial that Mr. Ehrlichman was a "loyal servant" whom President Nixon had "thrown to the wolves" to protect himself. He asked jurors not to be influenced by any dislike they might have for Mr. Nixon. He also asked them not to be swayed by the "golden tongue" of the chief prosecutor, James Neal, whose summation a few days ago had often appeared to hold jurors as well as spectators spellbound. [New York Times]
- In a formerly secret report on the DC-10 crash near Paris last March, in which 346 persons died, the Federal Aviation Administration has been charged by its own inquiry board with "questionable" actions in certifying the plane and with being "ineffective" in enforcing corrective steps after a near-disaster involving another DC-10 in 1972. The report, made in mid-April, was made public as pressure increased on the F.A.A. to order new safety measures for the more than 160 DC-10's now in service. [New York Times]
- Richard Helms told the Senate Foreign Relations Committee at a secret hearing in February, 1973, that he could not "recall" whether the White House had urged the Central Intelligence Agency to engage in domestic spying because of increasing antiwar activity in 1969 and 1970, His testimony was given four months before the first published accounts of Mr. Helms' participation in the so-called Huston plan for domestic spying, put forward in 1970 by a White House staff member. [New York Times]
- While at least one neighbor heard her dying screams and did nothing, Sandra Zahler, a 25-year-old model, was beaten to death early Christmas Day in her Kew Gardens, Queens, [New York City] apartment, which virtually overlooks the site of the murder of Catherine Genovese 10 years ago. The new slaying occurred in the building that was the residence of many of the 38 witnesses who heard the dying appeals of Miss Genovese. [New York Times]
- Saks Fifth Avenue, Bergdorf Goodman and Bonwit Teller have notified the government that they want to change their plea from not guilty to no contest on charges of fixing prices of women's clothing. The stores were indicted last October on charges of conspiring to fix prices and adopt uniform mark-up lists. The government said it would oppose the motion to change the plea. [New York Times]
- New and conspicuous diplomatic tension, reflected in the public and private remarks of officials in their respective capitals, seems to be building up between the United States and Israel in advance of the next round of negotiations with Egypt over the Sinai peninsula. The United States, concerned about the possibility of renewed fighting in the Middle East and the possibility of another oil embargo, is expected to press Israel to agree to significant territorial and political concessions in the negotiations. This is a possible source of trouble between the two countries. [New York Times]
- Israel and Egypt were reported to be very far apart in their initial positions for the next round of negotiations over Sinai. Well-placed diplomats and American officials said that each side had passed on to Secretary of State Kissinger positions that were clearly unacceptable to the other. [New York Times]
- Australian airliners and military aircraft shuttled between cyclone-shattered Darwin and other Australian cities, carrying emergency supplies in and thousands of refugees out. The government pledged to rebuild Darwin, a port in the northern part of the country. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 604.74 (+6.34, +1.06%)
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* |
| December 24, 1974 | 598.40 | 66.88 | 9.54 |
| December 23, 1974 | 589.64 | 65.96 | 18.04 |
| December 20, 1974 | 598.48 | 66.91 | 15.84 |
| December 19, 1974 | 604.43 | 67.75 | 15.90 |
| December 18, 1974 | 603.49 | 67.90 | 18.05 |
| December 17, 1974 | 597.54 | 67.58 | 16.88 |
| December 16, 1974 | 586.83 | 66.46 | 15.37 |
| December 13, 1974 | 592.77 | 67.07 | 14.00 |
| December 12, 1974 | 596.37 | 67.45 | 15.39 |
| December 11, 1974 | 595.35 | 67.67 | 15.70 |