News stories from Monday November 5, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Amid talk of resignation, President Nixon spent the weekend in Key Biscayne, Florida, while Vice President-designate Gerald Ford faced his own problems at Senate confirmation hearings. Ford believes that President Nixon must clear up his role in Watergate. Committee chairman Howard Cannon questioned Ford as to whether a president's successor should use his power to terminate an investigation into a former President, if the former President's term is shortened by resignation. Ford said that the American public would not allow a successor to stop such an investigation.
Cannon asked if anything in Ford's background would disillusion Americans further if it were made public; Ford replied negatively. The committee will hear from former lobbyist Robert Winter-Berger in closed session Wednesday. Winter-Berger charged Ford with improper actions in his book on Washington corruption.
[CBS] - Watergate prosecutors obtained their first jail sentence against a "dirty tricks" specialist in the '72 presidential campaign, Donald Segretti. Judge Gerhard Gesell sentenced Segretti to six months in prison.
Judge John Sirica heard pleas for retrials for James McCord, E. Howard Hunt and the four Cuban-Americans who were involved in the Watergate break-in. Sirica will rule later in the week.
New special Watergate prosecutor Leon Jaworski arrived in Washington, claiming to be independent of the administration. Jaworski stated that he's received assurance of his independence, and safeguards exist. Judge Byron Skelton swore in Jaworski at the court of claims building. Jaworski readily admitted the need for divine guidance in his new undertaking.
[CBS] - As Leon Jaworski took his oath of office as special prosecutor, acting Attorney General Robert Bork appeared before the Senate Judiciary committee to speak out against appointing a completely independent prosecutor, separated entirely from the executive branch. Bork insisted that Jaworski will be almost totally independent. If the President fires Jaworski, Bork stated that he will resign in protest; but if Congress passes a bill setting up a court-appointed independent prosecutor, Bork will recommend that the President veto that bill. [CBS]
- John Dean admitted to shredding E. Howard Hunt's notebooks and address book six months after the Watergate break-in. [CBS]
- In the Mideast, both sides are threatening to resume the war. Israel claims that Egypt violated the cease-fire along the Suez Canal. Secretary of State Henry Kissinger arrived in Morocco today to discuss the Mideast situation. [CBS]
- Israeli premier Golda Meir arrived home after her visit to Washington. Concern over her country's future was evident as Mrs. Meir returned to her grieving people. Mrs. Meir reported that Henry Kissinger and his colleagues are willing to meet at any hour to discuss the Mideast situation. She admitted that some disagreements exist between the U.S. and Israel, but the friendship between the two countries is definitely intact. [CBS]
- Egyptian foreign minister Ismail Fahmy returned to Cairo after talks with Secretary of State Kissinger. Fahmy stated that the world opinion of Arabs has changed for the better, which poses problems for Israel. [CBS]
- The Senate passed a $21.3 billion weapons bill which will be sent to the White House, where it faces a possible veto. [CBS]
- Senator Peter Dominick of Colorado, a former Nixon loyalist, urged the President to reveal all he knows regarding Watergate. Dominick believes that impeachment proceedings should proceed, and Republicans should divorce themselves from the Nixon administration. If the New Jersey gubernatorial race is any indication, Republicans may have a difficult time.
Consultant F. Clifton White formerly led many Republicans to victory throughout the country, including Barry Goldwater, James Buckley and Jesse Helms. But White's efforts for a Republican win in New Jersey have been thwarted by Watergate, and he noted that Republicans have experienced a drop in fundraising because of the scandal. The New Jersey Republican candidate for governor, Charles Sandman, is well behind and Democratic candidate Brendan Byrne seems assured of victory tomorrow. Watergate has definitely plagued this election.
[CBS] - Tomorrow, Virginia and New Jersey will hold elections for governor and New York City has an election for mayor. In California, a proposition calling for lower taxes faces an important vote too. California voters have been bombarded by arguments for and against Proposition I. Republican Governor Ronald Reagan and Democrat Assembly Speaker Bob Moretti both have their careers at stake on Proposition I. Moretti said that he respects Reagan -- as a fast talker and a good salesman. Republican party leaders are watching this election carefully. [CBS]
- Lester Zygmaniak was acquitted in New Jersey after facing trial for shooting his crippled brother George in a mercy killing. [CBS]
- A rash of strikes hit the country, including TWA, the New York Daily News, New York non-medical personnel and New York firemen. In Milwaukee, striking firemen were replaced by National Guardsmen although they are unskilled in fire fighting. [CBS]
- The FTC forced Continental Bakers to stop the false advertising of Wonder Bread. Continental denied that its advertising is false and will appeal the ruling. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 919.40 (-15.88, -1.70%)
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* |
| November 2, 1973 | 935.28 | 107.07 | 16.34 |
| November 1, 1973 | 948.83 | 107.69 | 16.92 |
| October 31, 1973 | 956.58 | 108.29 | 17.89 |
| October 30, 1973 | 968.54 | 109.33 | 17.58 |
| October 29, 1973 | 984.80 | 111.15 | 17.96 |
| October 26, 1973 | 987.06 | 111.38 | 17.80 |
| October 25, 1973 | 974.49 | 110.50 | 15.58 |
| October 24, 1973 | 971.85 | 110.27 | 15.84 |
| October 23, 1973 | 966.51 | 109.75 | 17.23 |
| October 22, 1973 | 960.57 | 109.16 | 14.29 |