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Wreckage of Watergate
While the resignation of Richard Nixon captured the headlines last month, many of the lesser principals of the
• Watergate drama still face legal action, beginning with the trial of the so-called “Watergate Six" on Sept. 30.
What follows is a wrap-up of the legal status of the major figures involved in the Watergate-related scandals of
the Nixon administration.
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John Mitchell (1), former
Attorney General and head of
the Committee to Re-elect the
• President (tRP), was acquit
ted of conspiracy charges in
volving a secret campaign
contribution by Robert Vesco.
• He is under indictment by the
Watergate grand jury on
charges of conspiracy, perj
ury, obstruction of justice.
Maximum penalty, if con-
• victed: 30 years, $42,000 fine.
H.R. Haldeman (2), former
White House chief of staff, in
dicted by the Watergate
• Grand Jury on counts of con
spiracy, obstruction of justice
and perjury; pleaded not
guilty to all counts. Maximum
« penalty, if convicted: 25
years, $16,000 fines.
•Girl, 9,
, didn’t fall
for trick
• SAN FRANCISCO (UPI) - A
9-year-old girl has proved to be
too alert to fall for dangerous
instructions from an anony
mous telephone caller.
Police said Tuesday that the
caller told the girl he was
, conducting a survey and he
wanted to know what kind of
deodorant her family used.
The girl went to the
• bathroom, obtained the family’s
spray and returned to the
phone.
“Hold the can to your mouth
• and spray and take three deep
breaths,” she was told.
The alert girl replied: “What
• do you take me for?” She hung
up.
Police said the girl could
have suffered permanent injury
• or even death if she followed
the caller’s instructions.
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John Ehrlichman (3),
former assistant to President
Nixon, was sentenced to 20
months to 5 years for conspir
ing to violate the civil rights of
Dr. Lewis Fielding, Daniel
Ellsberg s psychiatrist. He
was also indicted by the Wat
ergate Grand Jury on charges
of conspiracy and obstruction
of justice.
Maurice Stans (4), former
Commerce Secretary and
head of CRP Finance Commit
tee, was acquitted of con
spiracy charges in connection
with the Vesco contribution.
Robert Mardian (5), former
Justice Department official,
was indicted on a conspiracy
charge. Maximum penalty, if
convicted: 5 years $5,000
fine.
Frederick Laßue (6),
former White House aide and
CRP assistant to Mitchell,
pleaded guilty to his role in
covering up the Watergate
burglary. Free without bond
pending sentencing.
Jeb Magruder (7), former
deputy director of CRP,
pleaded guilty to abetting the
cover-up, was sentenced to
from 10 months to 4 years.
John W. Dean, 111 (8),
former chief counsel to the
President, pleaded guilty to
taking part in the cover-up. He
was sentenced to 1 to 4
years.
Herbert Kalmbach (9),
former personal attorney for
the President, pleaded guilty
to secret fund raising and
offering to sell an am
bassadorship. Sentence: 6 to
18 months.
Egil Krogh, Jr., (10), former
assistant to Ehrlichman, was
released after serving 5
months of a 6 month sentence
for actions related to the
break-in of Dr. Fielding’s of
fice.
Dwight Chapin (11), former
presidential appointments
secretary, was convicted of
perjury in connection with
campaign "dirty tricks” and
sentenced to from 10 to 30
months. Free pending appeal.
Hugh Sloan, Jr., (12),
former CRP treasurer, was
cited in a civil suit brought by
the Democratic party against
CRP. The suit was settled out
of court for $775,000.
Donald Segretti (13),
pleaded guilty to distributing
illegal campaign literature. He
was released from prison
after serving 4 months of a 6
month sentence.
Gordon Strachan (14), was
indicted on charges of con
spiracy, obstruction of justice
and perjury. Possible penalty,
if convicted: 15 years,
$20,000 fine.
G. Gordon Liddy (15), was
sentenced to 6 to 20 years in
connection with the Water
gate break-in and contempt of
court charges, and to 1 to 3
years in the Ellsberg case.
Charles Colson (16),
pleaded guilty to a count of
obstruction of justice in con
nection with the Ellsberg trial.
Sentenced to 1 to 3 years and
$5,000 fine.
James McCord (17), was
sentenced to 1 to 5 years for
breaking into the Watergate.
He is free pending appeal on
$5,000 bail.
E. Howard Hunt (18),
former CIA agent and White
House consultant, was sen
tenced to 2'/i to 8 years and a
SIO,OOO fine. He is free on
bond pending appeal.
Kenneth W. Parkinson
(19), former CRP counsel, in
dicted for conspiracy and
obstruction of justice in Wat
ergate cover-up.
Herbert L. Porter (20),
served 27 days of a 30-day
sentence for lying to the FBI
in the Watergate cover-up.
Richard G. Kleindienst
(21), former attorney general,
fined SIOO and given a 1
month suspended sentence
for lying to the Senate about
the ITT antitrust settlement.
Ed Reinecke (22), lieute
nant governor of California,
convicted of lying to a Senate
committee about the ITT set
tlement. Currently awaiting
sentencing.
John Connally (23), former
Treasury secretary, indicted
on bribery and perjury
charges in connection with
milk price supports.
Bernard Barker (24), sen
tenced to I’/2 to 6 years for
taking part in the Watergate
break-in; currently free on ap
peal. He received a sus
pended sentence in the
Ellsberg case.
Virgilio Gonzalez (25),
freed on parole after serving 4
months of a 1 to 4 year sen
tence for his part in the Wat
ergate break-in.
Eugenio Martinez (26),
paroled after serving 4
months of a 1-to-4 year sen
tence for breaking in to the
Watergate. Received a sus
pended sentence in the
Ellsberg case.
Frank Sturgis (27), freed
after 2 months pending an ap
peal of his 1-to-4 year sen
tence for breaking in to the
Watergate.
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On Wall street, spirit bottoming out
By Richard Starnes
NEW YORK - (NEA) - A
blind man on the corner of
Broadway and Wall Street
plays a battered saxophone
that has a paper cup stuck in
the end of it to catch coins
dropped by passersby.
He and Mrs. Goldberg, an
amiable middle-aged woman
who sells knishes out of a
pushcart two blocks east on
Wall Street, are doing well.
Everybody else on Wall
Street is doing lousy.
Wall Street is bullish on the
blind man because stock tra
ders are as superstitious as
coal miners, and two bits
dropped into his paper cup
may just propitiate the angry
gods of the securities market.
And, of course, knishes are
on the up side because for 40
cents you can lunch on
knishes, while in Eberlin’s, a
century-old stockbroker’s
restaurant (complete with
stock ticker) on New Street
just off Wall, lunch can cost
you $lO.
“The worst sign I’ve seen,”
said one careworn old pro
from the New York Stock Ex
change, “isn’t a million-and
a-half shares of Pan Am
going for one and three-quar
ters. It’s the waiters at
Eberlin’s being polite.”
Wall Street is as cheerful
as a cancer ward today, and
as permeated with optimism
as the advertisement on a
funeral parlor fan. There’s no
13th floor in the 23-story New
York Stock Exchange
(NYSE) building and it’s a
good thing, because NYSE
doesn’t need any more bad
luck. The value of shares
traded on the NYSE dropped
from $792 billion in July, 1973,
to $583 billion a month ago —
a decline of about $209 billion
in a year.
That means that the worth
of some of America's greatest
industries and commercial
enterprises has shrunk by one
third within a year.
In Wall Street the dreaded
year 1929 is being invoked
more and more often, as if
simply talking about it will
prove to be a talisman that
will lift the curse that is
hovering over the world’s
biggest market place.
George M.L. Laßranche
Jr., a dapper 74-year-old with
gold-rimmed eyeglasses, a
gold necktie clasp and a gold
identification badge that
RICHARD STARNES is a cor
respondent for the Scripps-
Howard Newspaper Alliance.
— Griffin Daily News Wednesday, September 18,1974
Page 17
N WTnllllr
Ki j&WH
testifies to the 50 years he has
spent on the floor of NYSE,
lived through 1929, 1932
(which he thinks was worse),
and the mass hysteria that
forced the exchange to close
after the assassination of
John F. Kennedy.
Laßranche is a “specialist"
on the floor of the exchange,
a trader franchised by the ex
change to bring together buy
ing and selling brokers, or to
buy or sell securities in his
speciality if no other market
exists.
Laßranche, who has
weathered well the storms he
has endured on the floor of
the exchange, is eupeptic and
optimistic by nature, and
pessimistic due to circum
stances.
“In 1929,” he observes, “as
bad as the selloff was, we did
have some rallies. Now there
are no rallies. Shares go
down and stay down. They
don’t seem to rally. Condi
tions today are actually more
comparable to 1932 than they
are to 1929."
Another specialist, a man
in a Brooks Brothers suit who
has eyes like the backs of
spoons, ignores the lunatic
hubbub that erupts with the
opening bell at 10 A.M. to
take dead aim at what he
deems the troika of villains
responsible for the sorry
state of the market.
“Oil prices have to get back
down to a realistic level,” he
snaps. “Nobody will survive a
year with oil at sl4 a barrel.
Italy’s bankrupt already, and
England isn’t far from it. Why
the hell doesn't the CIA
(Central Intelligence Agency)
do what it’s supposed to do
and change governments in
some of these oil-producing
countries?”
Item two on his hit parade
is interest rates. “We have to
borrow money at 14 cent for
the privilege of losing money
when we invest it. It just
doesn't make sense."
But it is for the Securities
and Exchange Commission,
the government agency that
regulates the securities busi
ness, that the hard-eyed
trader saves his -best shots.
“What in hell is the SEC
doing to help us? All we get
from them is more and more
harassment. We specialists
are the people who make this
market possible. We insure
orderly trading. We give liq
uidity to the market and we
absolutely guarantee a
market for every security
that’s listed. We’re the heart
of the exchange, and the SEC
persists in treating us like
crooks.”
It is only a few blocks from
the sophisticated world of the
anvil-hard men who trade
amid the fevers and alarms
of the NYSE floor to the
funeral atmosphere of Mer
rill, Lynch, Pierce, Fenner
and Smith, a brokerage house
with a glass skyscraper and a
clientele that includes a full
share of small, smaller and
smallest investors.
What is eerie at Merrill,
Lynch is the muted air of
bereavement and loss. It
takes an effort of will to keep
from looking around to find
the loved one laid out in a
bower of lilies of the valley.
There are 30 people in the
room, their eyes fastened on
the screen where the NYSE
and AMEX tapes are unwind
ing their way into stock
market history.
“The reason I’m bearish,” a
sweating, fat man says, “is
because of what I see. If the
market would show any in
dication of bottoming out, I'd
jump in on the long side with
both feet.”
Everybody who hears him
knows the fat man himself
has already bottomed out,
maybe early in the bad
month of August, maybe
sometime earlier in the bad
year of 1974. He isn’t going to
jump anywhere, except possi
bly off the sea wall at South
Ferry.
At Broad and Wall streets,
near the spot where George
Washington was inaugurated
as president 185 years ago, a
street-corner preacher in a
sweat-stained straw hat is
haranguing a bored handful
of people who are sweltering
away in the waning minutes
of their lunch hours.
“We die and go to hell be
cause of Adam's Sin,” the
preacher roars.
But Wall Street has never
been long on theology. On
Wall Street, they think
they’re going to die and go to
hell because the Dow, that on
Jan. 11, 1973, stood at an all
time high of 1051.71, today
stands at 678.58.
(NEWSPAPER ENTERPRISE ASSN.)
Sun flairing
means static
BOULDER, Colo. (UPI) -
The flaring area of the sun will
face Earth until Saturday,
causing static on the transmis
sions of airline pilots, short
wave operators and other radio
communications, according to a
space scientist.
Howard H. Sargent of the
National Oceanic and Atmos
pheric Administration said
Tuesday he expected moderate
flare activity for several days.
He said the new flares would
be associated with two that
hurled magnetic storms at
earth last Wednesday and
Friday, causing widespread
radio signal interruptions.