News stories from Wednesday October 31, 1973
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The White House informed Judge John Sirica that it will release two of the nine White House tapes which had been requested by the court. [CBS]
- The U.S. has ended its military alert; diplomatic talks will begin in earnest to end the Mideast conflict. After a meeting last night with Soviet ambassador Dobrynin, President Nixon and Secretary of State Henry Kissinger met today with Egyptian envoy Ismail Fahmy. As that meeting was going on, Israeli Prime Minister Golda Meir was flying to Washington to meet with the President on Thursday.
Mrs. Meir held a short news conference upon her arrival in the United States. She stated that the purpose of the meeting with President Nixon is to seek clarification on some points and to solve problems. Mrs. Meir is worried over the blossoming friendship between Cairo and Washington.
Kissinger said that he believes progress in Mideast to be imminent despite problems with the peace negotiations. Kissinger will visit Morocco, Egypt, Saudi Arabia, Jordan, Iran, and Pakistan on his way to China. His visit to the Mideast is designed to help resolve the situation there. The U.S. may arrange a meeting between Fahmy and Golda Meir, but no official word has been released.
[CBS] - Angry Israelis demonstrated for a second day to protest the treatment of Israeli POWs being held by Arabs. Israelis also feel that the U.S. may be turning against them in favor of the Arabs. [CBS]
- Egyptian President Anwar Sadat held a news conference, stating that he will to agree to peace negotiations only after Israeli troops retreat to the October 22 cease-fire line. Sadat claims that the Egyptian army is currently in a position to destroy Israeli troops on the west side of the Suez. Sadat warned of further fighting unless Golda Meir agrees to his proposal. [CBS]
- If the Israelis retreat from the present cease-fire line to the October 22 line, the Egyptian 3rd army will no longer be trapped in the desert, but for now the 3rd army is in a dire position. Thanks to the United Nations and U.S. pressure on Israel, water supplies are reaching the 3rd army. However, Egyptian soldiers continue to surrender daily. Israelis are using water as a political weapon against Egyptians in Suez City. [CBS]
- Military sources in Washington reported that a Soviet missile which was captured by the Israelis has been sent to the United States for examination. [CBS]
- French President Pompidou stated that American and Soviet attempts to solve world crises to lead to problems between allies. Pompidou proposed that European countries have more say-so in world crises. [CBS]
- Austria will close its transit camp for emigrating Jews within two weeks. [CBS]
- The Miami Herald reported that federal authorities are investigating an alleged $300,000 expense fund for Senate Watergate committee member Ed Gurney. There are reports of builders making illegal contributions in return for contract favors. One builder, John Priestes, allegedly contributed to Gurney's fund to get a Federal Housing Administration construction contract. Priestes claims that Gurney aide Larry Williams requested Priestes contribute to the Republican party in order to get the contract. Williams was unavailable for comment. [CBS]
- The Senate Watergate committee resumed hearings, focusing on the dirty tricks aspect. A staff investigator for the committee testified that huge amounts of money were spent on espionage and sabotage against Democratic presidential candidates. [CBS]
- Former special Watergate prosecutor Archibald Cox revealed to the Senate Judiciary Committee that the Justice Department was aware of President Nixon's intervention in the ITT case. Cox stated that the Justice Department may be responsible for the news leaks regarding the case. Members of the committee proposed that the case be reopened. Former Attorney General Richard Kleindienst said that he threatened to resign if President Nixon interfered with the government's antitrust action against ITT; the President backed down. [CBS]
- Former Vice President Spiro Agnew paid a $10,000 fine for income tax evasion. [CBS]
- Senator Lowell Weicker disclosed a White House memo discussing ways to keep the press in line. The memo was from Jeb Magruder to H.R. Haldeman. [CBS]
- The Agriculture Department reported that the price of raw farm products fell during the period from September 15 to October 15. [CBS]
- The Cost of Living Council announced that the entire petroleum industry can raise prices each month to keep up with costs. Exxon will begin rationing gasoline to all stations east of the Rockies beginning tomorrow. [CBS]
- The worst forest fires of the season are raging outside of Los Angeles. [CBS]
- Senate Rules Committee chairman Howard Cannon reported that FBI data on Vice President-designate Gerald Ford raises questions regarding Ford's confirmation. Ranking Republican Senator Marlow Cook said he doesn't believe anything embarrassing will turn up. [CBS]
- Former Watergate prosecutor Archibald Cox was named a special professor to Cambridge University in England. He will teach American history for one year in England. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 956.58 (-11.96, -1.23%)
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* |
| 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 |
| October 19, 1973 | 963.73 | 110.22 | 17.88 |
| October 18, 1973 | 959.74 | 110.01 | 19.21 |
| October 17, 1973 | 962.52 | 109.97 | 18.60 |