News stories from Monday November 11, 1974
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The United Nations headquarters was like a citadel awaiting a siege as the first contingent of the Palestine Liberation Organization arrived in New York City for the General Assembly debate on Palestine, which begins Wednesday. The advance party of 16 representatives was under the most extensive security since Fidel Castro of Cuba and Nikita Khrushchev of the Soviet Union visited the United Nations in 1960. [New York Times]
- The White House formally agreed to let Henry Ruth, the special Watergate prosecutor, have access to all of former President Nixon's records that relate to cases under investigation. The agreement, filed as a joint motion between the White House and the special prosecutor's office, stipulates that Mr. Nixon may not take any of his records or tape recordings from the White House without the approval of Mr. Ruth. The agreement is subject to approval by Judge Charles Rickey of Federal District Court. [New York Times]
- President Ford's Citizens Action Committee to Fight Inflation announced a voluntary, grass-roots anti-inflation program across the country and warned that wage and price controls would "almost inevitably" follow if voluntary action failed. The key business representative on the committee, Arch Booth, president of the Chamber of Commerce of the United States, said he could not recommend that businesses cooperate with the program on the ground that they were asked to hold or reduce prices but a similar pledge was not asked of workers on wages. He was sharply assailed by other committee members. [New York Times]
- The failure of mine operators and union negotiators to approach final agreement on a new contract extended the coal miners' strike, that began at midnight, from two weeks to at least three weeks' duration. A union official said he did not expect a settlement for another three days. Industry officials privately agreed. Two weeks would be necessary for the miners to ratify a new contract. [New York Times]
- The jury at the Watergate cover-up trial heard parts of three White House tapes that led to Richard Nixon's resignation from the presidency. Out of the presence of the jury, but in open court, the chief prosecutor said that the tapes and other evidence proved a "direct agency" in which Mr. Nixon's "agents" obstructed justice at Mr. Nixon's order. [New York Times]
- Discrepancies have been uncovered involving a major piece of evidence -- an unfired, 32 caliber bullet -- used to help convict Rubin (Hurricane) Carter, the former boxer, and a co-defendant in a triple murder in a Paterson, N.J., tavern eight years ago. [New York Times]
- The Little League announced at its headquarters in Williamsport, Pa., that it would confine future world series to teams from the continental United States. Travel costs for foreign entries and the nationalistic approach taken abroad were given as reasons for the change. Regional championships in Canada, the Far East, Europe and Latin America and playoffs for Senior or Big League programs will not be affected. [New York Times]
- The effort to lift the political and economic blockade imposed on Cuba a decade ago by the Organization of American States nearly collapsed at the organization's meeting in Quito, Ecuador. Latin-American foreign ministers advocating a reconciliation with Cuba were two votes short of the two-thirds majority necessary to pass the resolution, and they pressed for a last-minute accord. In a closed session, the United States delegation informed other members of the organization that it intended to abstain in the vote. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 672.64 (+5.48, +0.82%)
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 8, 1974 | 667.16 | 74.91 | 15.89 |
| November 7, 1974 | 671.93 | 75.21 | 17.15 |
| November 6, 1974 | 669.12 | 74.75 | 23.93 |
| November 5, 1974 | 674.75 | 75.11 | 15.96 |
| November 4, 1974 | 657.23 | 73.08 | 12.74 |
| November 1, 1974 | 665.21 | 73.88 | 13.47 |
| October 31, 1974 | 665.52 | 73.90 | 18.84 |
| October 30, 1974 | 673.03 | 74.31 | 20.13 |
| October 29, 1974 | 659.34 | 72.83 | 15.61 |
| October 28, 1974 | 633.84 | 70.09 | 10.54 |