News stories from Thursday August 2, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Skylab astronauts Owen Garriott, Jack Lousma and Alan Bean discovered a fuel leak in the command ship that is to return them to earth. A rescue flight is being prepared for a possible astronaut recovery from Skylab. Skylab program director William Schneider announced that the mission will proceed as planned, and stated that the rescue vehicle is being prepared only in the event of further trouble. There is currently no danger to the crew, and the astronauts are carrying out experiments as planned.
A rescue rocket couldn't be ready before early September.
[CBS] - Former CIA director Richard Helms and CIA deputy Robert Cushman appeared before the Senate Watergate committee. Helms admitted that the CIA helped E. Howard Hunt with disguises and equipment in 1971, but assured acting FBI director L. Patrick Gray that there was no CIA connection with the Watergate break-in. Helms said that he and deputy director Vernon Walters met with John Ehrlichman and H.R. Haldeman and were mystified by Ehrlichman's and Haldeman's talk of CIA involvement. Senator Edward Gurney asked if Helms thought President Nixon was involved in the Watergate cover-up and planned to use the CIA in the cover-up. Helms stated that the President was not involved to his knowledge, but from talking with a top aide to the President, Helms assumed the White House wanted the CIA to be involved in the cover-up.
John Dean talked with Walters about the CIA supplying bail and payments for the Watergate defendants. Helms said he told Walters to be clear with Dean about CIA non-involvement in the Watergate cover-up and refuse any part in illegal activities. Helms admitted that one of the Watergate burglars, Martinez, a former CIA employee, was on a $100 month retainer at the time of the break-in.
Former CIA deputy Robert Cushman took the witness chair after Helms. Cushman recalled that John Ehrlichman contacted him about telephone calls recorded by Cushman earlier in the year when Ehrlichman was out of town. Cushman agreed to delete names from the telephone recordings and the associated memos since he couldn't recall the exact date of the call.
Former acting FBI director L. Patrick Gray will begin his testimony before the Senate Watergate committee on Friday.
[CBS] - Watergate burglar James McCord said that if FBI had searched his home, they would have found bugging equipment and cash there. But FBI agents were hampered in their probe by having to clear all leads with higher officials.
McCord has followed the Watergate proceedings since they began. He watched the hearings today as Richard Helms referred to the Watergate break-in as "amateurish". McCord defended his position as a burglar. He said that E. Howard Hunt and G. Gordon Liddy were behind the Watergate break-in; McCord just carried out their orders. He believes that a massive cover-up is underway to cover up the cover-up. McCord thought H.R. Haldeman, John Ehrlichman and John Mitchell perjured themselves, but said that John Dean's testimony seemed truthful. McCord believes he did the right thing in blowing the whistle on Watergate. Haldeman and Ehrlichman's attorney had no comment on McCord's perjury charges.
McCord will publish a book on Watergate this fall.
[CBS] - The wholesale price index dropped 1.3% for July. [CBS]
- Restaurant and sandwich shop owners have been forced to turn to the black market for beef in order to stay in business. Snack shop operators are faced with cutting quality and quantity, or raising prices. Dr, Kenneth Fedor of the food price monitoring department of the Cost of Living Council stated that the voluntary cooperation of people is needed to make controls effective; everyone can't be checked for violations. [CBS]
- The cost of beef has soared in Japan. Beef is now considered appropriate for gifts since prices range from $9 to $23 a pound. [CBS]
- A House committee voted to subpoena documents on the government's costs for President Nixon's San Clemente and Key Biscayne homes and other private property he uses. Representative Jack Brooks said that the hearing will be impartial and will determine the facts. Representative Frank Horton stated that the White House has promised full cooperation regarding the documents. [CBS]
- The Senate overrode President Nixon's veto of a $185 million program for emergency health services. [CBS]
- The Senate passed a minimum wage bill increasing it to $2.20 an hour. [CBS]
- The ACLU asked Justice William O. Douglas to rule on an immediate halt to U.S. bombing in Cambodia because they believe it is unconstitutional. Douglas said that he won't rule until he hears the other side of the story. [CBS]
- Oklahoma State prison inmates at McAlester have been contained but not controlled after their riot last week. The most violent inmates control a portion of the prison yard, as guards merely watch. Some inmates were killed by other inmates this week. The situation is said to be under control since the inmates cant get out, but no one can go in either, because of the danger; guards are fearful. Guard union president Bobby Martin stated that nine guards have quit because they felt their lives were at stake. Physical damage estimates at the prison run into millions. Guards, prisoners, the warden and the state legislature all blame each other for the riot. [CBS]
- A federal appellate judge issued a stay in the contempt of court charge against IBM. IBM refuses to hand over documents to the government regarding its antitrust suit against the company. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 910.14 (-2.04, -0.22%)
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 1, 1973 | 912.18 | 106.83 | 13.53 |
| July 31, 1973 | 926.40 | 108.22 | 13.53 |
| July 30, 1973 | 933.77 | 109.25 | 11.17 |
| July 27, 1973 | 936.71 | 109.59 | 12.91 |
| July 26, 1973 | 934.53 | 109.85 | 18.41 |
| July 25, 1973 | 933.02 | 109.64 | 22.22 |
| July 24, 1973 | 918.72 | 108.14 | 16.28 |
| July 23, 1973 | 913.15 | 107.52 | 15.58 |
| July 20, 1973 | 910.90 | 107.14 | 16.30 |
| July 19, 1973 | 906.68 | 106.55 | 18.65 |