News stories from Friday June 22, 1973

Summaries of the stories the major media outlets considered to be of particular importance on this date:

News that an agreement between Soviet leader Leonid Brezhnev and President Nixon had been signed leaked out before the actual announcement. The agreement commits the U.S. and Russia to urgent consultations in event of the threat of nuclear war. It is not an official treaty but a declaration of intent (and may not be binding), and does not need Senate approval. Henry Kissinger briefed reporters and stated that China is not happy about the war agreement, which drops the U.S. in the middle of the Chinese-Soviet dispute. Nixon and Brezhnev then left for San Clemente, California, to hold final talks before Brezhnev's return home. [CBS] Before his meeting with President Nixon, Leonid Brezhnev met with American businessmen and agreed to strengthen commercial ties between the two countries. Ten U.S. companies may open branches in Moscow, including Chase Manhattan Bank, Bank of America, First National City Bank, Occidental Petroleum, International Harvester, Caterpillar and General Electric. [CBS] Skylab astronauts Pete Conrad, Paul Weitz, Joseph Kerwin splashed down successfully today after spending a record 28 days in space. The capsule made a perfect landing in the south Pacific and was picked up by the carrier Ticonderoga. One doctor reported that the astronauts' condition was better than expected. [CBS] Former White House counsel John Dean will be a witness at the Senate Watergate committee hearings, which will resume after the Brezhnev-Nixon summit concludes.The White House has withdrawn its support for former aides John Ehrlichman and H.R. Haldeman. Former presidential counsel Charles Colson advised President Nixon to take that action. The White House is relying on the defense that the President was not fully informed by his closest aides, and the White House provided questions for attorney Fred Thompson to ask Dean at the upcoming committee hearings. Leaks followed Dean's closed testimony last week, and committee chairman Sam Ervin is in a rage over the continuing leaks. He believes that a committee member is providing the information to the press in order to discredit Dean. Hearings resume on Monday at 10 a.m. with live CBS coverage. [CBS] Martha Mitchell reportedly phoned UPI's Helen Thomas to say that her husband, former Attorney General John Mitchell, is protecting President Nixon and would even go to jail for him. [CBS] The U.S. Controller General believes that White House chief of staff General Alexander Haig is serving in that position illegally because he is still on active military duty until August. [CBS] Angry Peronists are looking for someone to blame for the outbreak of shooting at the welcoming ceremonies for formerly-exiled Argentine leader Juan Peron. Peron and head of government Hector Campora addressed the Peronist factions on TV. Peron angrily called for the warring factions to put away their old hatreds. Revolutionary Peronists attending memorial services said that they anticipate more violence between the groups. [CBS] The Agriculture Department reported that fewer pigs are being raised now than a year ago, which may result in a pork shortage. [CBS] The Securities and Exchange Commission accused Merrill Lynch, Pierce, Fenner and Smith of recommending a stock to buyers by using misleading information. The brokerage bought stock in Scientific Control Corporation, making the computer firm look stronger than it really was. SCO declared bankruptcy in 1969 and shareholders lost nearly $15 million. [CBS]

Stock Market Report

Dow Jones Industrial Average: 879.82 (+6.17, +0.71%)
S&P Composite: 103.70 (+0.49, +0.47%)
Arms Index: 0.89

	Issues	Volume*
Advances	767	8.87
Declines	653	6.71
Unchanged	350	2.89
Total Volume		18.47

* in millions of shares

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*
June 21, 1973	873.65	103.21	11.63
June 20, 1973	884.71	104.44	10.60
June 19, 1973	881.55	103.99	12.97
June 18, 1973	875.08	103.60	11.46
June 15, 1973	888.55	105.10	11.97
June 14, 1973	902.92	106.40	13.21
June 13, 1973	915.49	107.60	15.70
June 12, 1973	927.00	108.29	13.84
June 11, 1973	915.11	106.70	9.94
June 8, 1973	920.00	107.03	14.05