News stories from Friday June 27, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Former President Richard Nixon gave a total of 11 hours of testimony to lawyers for the special Watergate prosecution on Monday and Tuesday in California. The disclosure that Mr. Nixon had testified was made at his behest under a joint stipulation by his lawyer and the special prosecutor. The testimony will be presented to the Watergate grand jury and will be made part of the jury's minutes. [New York Times]
- The Senate began its July 4 recess after approving and sending to President Ford a compromise housing bill, a smaller version of a bill that Mr. Ford vetoed on Tuesday. Senator Edward Brooke, Massachusetts Republican, predicted that Mr. Ford would sign the bill. It seeks to stimulate homebuying by middle-income families. [New York Times]
- More than 100 agents of the Federal Bureau of Investigation, armed with automatic weapons and dressed in battle fatigues, searched the Oglala Sioux reservation in Pine Ridge, South Dakota, for about 16 Indians they believed took part in the killing of two F.B.I. agents on the reservation Thursday. The two agents had sought to serve arrest warrants. on four men wanted with an assault and kidnapping of a man and his son earlier in the week. [New York Times]
- The New Jersey Senate rejected a state income tax plan, plunging the state into its worst fiscal crisis and subjecting Governor Byrne to what state political leaders regard as a devastating and perhaps irreversible political defeat. The Democratic majority combined with the Senate's Republican minority to defeat the Governor's tax proposal by a vote of 21 to 17, with 10 Democrats joining 10 Republicans and one independent in opposition. Shortly after the vote, the Governor did what he said he would do, and what his Senate adversaries assumed he would not do: he cut $384 million from his $2.8 billion budget to satisfy a state constitutional requirement that the budget be balanced at the start of the new fiscal year. [New York Times]
- A New York diamond cutter and a Maryland mathematician for defense research contractors were arrested by the Federal Bureau of Investigation on charges of conspiring to violate the espionage laws for the Soviet Union. The men, distantly related Armenians born in Beirut, Lebanon, were 36- year-old Sarkis Paskalian, a permanent resident alien who lives in Manhattan, and Sahag Dedeyan, 41, a naturalized United States citizen and a resident of Maryland. It was, an F.B.I. official said, a major espionage case. [New York Times]
- India's government spokesman said today that 200 more persons have been arrested under the state of emergency and that scattered protest strikes and demonstrations had continued around the country. More than 800 arrests have been officially reported, but critics of the government said the real number was substantially higher. It was later announced that President Fakhruddin Ali Ahmed had suspended the right of Indian citizens and foreigners to ask courts to protect their fundamental rights. [New York Times]
- President Isabel Martinez de Peron of Argentina faced her gravest crisis in office, as economic problems mounted and open opposition was expressed by the labor movement, which has been her main pillar of support. In a demonstration called by the General Confederation of Workers, thousands of trade unionists gathered in Buenos Aires to protest the government's economic austerity measures. [New York Times]
- Administration officials in Washington said that they had failed so far to narrow the differences between Egypt and Israel sufficiently to make another limited Sinai agreement possible at this time. [New York Times]
- The International Whaling Commission gave almost total protection to the biggest of the whales still hunted legally -- the fin-back -- and drastically reduced catch quotas on smaller species. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 873.12 (-1.02, -0.12%)
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 26, 1975 | 874.14 | 94.81 | 24.56 |
| June 25, 1975 | 872.73 | 94.62 | 21.61 |
| June 24, 1975 | 869.06 | 94.19 | 26.62 |
| June 23, 1975 | 864.83 | 93.62 | 20.72 |
| June 20, 1975 | 855.44 | 92.61 | 25.26 |
| June 19, 1975 | 845.35 | 92.02 | 21.45 |
| June 18, 1975 | 827.83 | 90.39 | 15.59 |
| June 17, 1975 | 828.61 | 90.58 | 19.44 |
| June 16, 1975 | 834.56 | 91.46 | 16.66 |
| June 13, 1975 | 824.47 | 90.52 | 16.30 |