News stories from Thursday April 25, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The House Judiciary Committee plans to submit written questions to President Nixon to determine if "criminal fraud" was involved in the preparation of his income tax returns. The plan was disclosed in a staff report that recommended setting aside a number of allegations against the President in order to concentrate on the most serious matters, such as the Watergate cover-up and the President's taxes.
Joan Doar, the committee's lead counsel, told the members that his staff was concentrating on seven broad areas of allegations against the President. These include the Watergate cover-up, the activities of the secret White House unit known as the plumbers, and the President's personal finances, primarily his tax returns.
[New York Times] - A jury of nine men and three women began deliberations in the case against former Attorney General John Mitchell and former Commerce Secretary Maurice Stans. The case went to the jury after federal judge Lee Gagliardi read a 136-page charge, which stressed that "all parties stand as equals before the bar of justice." [New York Times]
- The President received a rousing welcome before an overflow audience of 10,000, and words of welcome from the Democratic Governor of Mississippi as Mr. Nixon delivered a speech promising peace and prosperity for a generation. The President's appearance at the Mississippi Coliseum in Jackson drew the largest and most enthusiastic reception to date in the President's public campaign against impeachment. [New York Times]
- A federal judge ruled that the San Francisco police violated the Constitution by stopping and questioning some 600 black men in their investigation of the murders of 12 white persons over the past few months. The ruling and an injunction requires the police to abandon a vague physical description of the killer as the sole ground for stopping a man for questioning. [New York Times]
- A group of army officers, proclaiming their desire to bring democracy to Portugal, seized control of the government amid scenes of popular rejoicing. After capturing a radio station and key ministries, the Movement of the Armed Forces announced that Premier Marcello Caetano had surrendered. Gen. Antonio de Spinola and Gen. Francisco da Costa Gomes, who were dismissed last month as heads of the defense staff for their criticism of the war in Portugal's African territories, emerged as leaders of a junta that would hold free elections.
The takeover in Portugal followed a steady demoralization produced by the country's effort to preserve its overseas territories. The demoralization, marked by erosion of the country's political and social stability, was aggravated by frustration over the government's inability to end the fighting in the African territories or to enlist the help of Portugal's North Atlantic allies in the effort.
[New York Times] - An aide to Chancellor Willy Brandt of West Germany was arrested in Bonn on suspicion of being a spy for East Germany. The suspect was identified as Gunter Guillaume, a political assistant in the Chancellor's Bonn office. The chief federal prosecutor said Mr. Guillaume had admitted being an officer in the East German army. [New York Times]
- After seven months as Secretary of State, Henry Kissinger has succeeded in restoring the morale of the State Department and restoring its traditional place at the center of foreign policy. A review of his tenure indicates that Mr. Kissinger has accomplished this by the force of his personality, the transfer of his main operations from the White House to the department and the appointment of highly motivated, individualistic, loyal aides to high posts. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 827.68 (-104.69, -11.23%)
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* |
| April 24, 1974 | 832.37 | 90.30 | 16.01 |
| April 23, 1974 | 845.98 | 91.81 | 14.11 |
| April 22, 1974 | 858.57 | 93.38 | 10.52 |
| April 19, 1974 | 859.90 | 93.75 | 10.71 |
| April 18, 1974 | 869.92 | 94.78 | 12.47 |
| April 17, 1974 | 867.41 | 94.36 | 14.02 |
| April 16, 1974 | 861.23 | 93.66 | 14.53 |
| April 15, 1974 | 843.79 | 92.05 | 10.13 |
| April 11, 1974 | 844.81 | 92.12 | 9.97 |
| April 10, 1974 | 843.71 | 92.40 | 11.16 |