News stories from Thursday October 24, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Senator Barry Goldwater, symbolic leader of the Republican conservative wing, has backed away from his initial support of Nelson Rockefeller's vice-presidential nomination. Mr. Goldwater said he had told President Ford he was no longer bound by his original statement of support for Mr. Rockefeller. [New York Times]
- Doctors have decided to hold off surgery for former President Richard Nixon at Long Beach Memorial Hospital Center and have decided to try another round of anti-coagulation therapy, a medical spokesman said. Mr. Nixon, unexpectedly readmitted to the hospital, is under treatment for complications that developed in treatment of phlebitis in his left leg. [New York Times]
- Judge John Sirica has told defendants, lawyers and spectators, but not the jury, at the Watergate cover-up trial that the case never would have occurred if John Mitchell, one of the five defendants had said, "get them out fast," when Nixon campaign employees first showed him plans for illegal political intelligence operations. Mr. Mitchell's attorney made a formal objection to the remarks for the record. [New York Times]
- General Motors Corporation has announced plans to lay off 6,000 workers indefinitely at four plants making small cars. The corporation is cutting its production schedule of the fourth quarter of the year by 93,000 cars and is revising its industry 1975 model year sales forecast downward from 10 million to 9.5 million cars. [New York Times]
- The Federal Communications Commission has given final approval to a policy statement that all television stations must provide a reasonable amount of programming for children and that a significant part of it should be educational. The 37-page statement also said that broadcasters should provide for the viewing needs of preschool children. [New York Times]
- In Moscow, Secretary of State Kissinger met with Leonid Brezhnev, the Soviet party leader, and Foreign Minister Andrei Gromyko for six and a half hours of talks dominated by discussions of the Middle East situation, European security problems and Soviet-American trade. The issue of strategic arms limitations was to come up later in the discussions. [New York Times]
- In his second press conference since his inauguration last June, French President Valery Giscard d'Estaing warned that the world was in the grip of an economic crisis and "all the curves are leading us to catastrophe." In his gloomy picture, President Giscard d'Estaing said the "enduring crisis" involved a redistribution of resources with "global consequences," Then, in a happier vein, the French President said he was confident "France can deal with her difficulties in the present and in the future." [New York Times]
- The world-renowned Soviet violinist, David Oistrakh has died in Amsterdam, the Netherlands, at the age of 65. He had been in the Netherlands for a series of Brahms concerts with the Amsterdam Philharmonic and since Oct. 7 had conducted six concerts, the last on Tuesday, and had been soloist in three of them. The body will be taken to Moscow for burial. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 636.26 (-8.77, -1.36%)
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 23, 1974 | 645.03 | 71.03 | 14.20 |
| October 22, 1974 | 662.86 | 73.13 | 18.93 |
| October 21, 1974 | 669.82 | 73.50 | 14.50 |
| October 18, 1974 | 654.88 | 72.28 | 16.46 |
| October 17, 1974 | 651.44 | 71.17 | 14.47 |
| October 16, 1974 | 642.29 | 70.33 | 14.79 |
| October 15, 1974 | 658.40 | 71.44 | 17.06 |
| October 14, 1974 | 673.50 | 72.74 | 19.77 |
| October 11, 1974 | 658.17 | 71.14 | 20.09 |
| October 10, 1974 | 648.08 | 69.79 | 26.36 |