eligpme■
Bank ofisrael Preparing New Laws for Knesset to Prevent Bank Failures
JERUSALEM (JTA)—The Bank
efriltrieVdieliatioin is-mitt/11 bank,
is preparing legislation for the
Knesset that •will give it extensive
new _Towers of supervision over
the country's banking business, it
was learned.
The move stemmed from the
recent failure of the Agudath Israel
Bank -tmder `stances that
- hinted at the emergence of a new
financial scandaL
The near collapse of the Agudath
Israel Bank was attributed to im-
provident loans, most of which
went to the bank's principal share-
holders, and to the bank's involve-
anent in dubious outside ventures.
It has been -taken over by the
Bank of Leumi.
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According _to Itzhak Shubinsky, of the main causes of Autocar's
bank Otthe vierc-Ishierlisikt of s former managing direCtor of-Auto- bankruptcy. The-firm was put into
New York and the Angle-Israel car, the mergerigth was cone receivership last Nov. -
Bank of lenadara.
Moshe Zanbar, governor of the TINE DEMO/1:41,1W WITS
Fads& issisary 21, 1972-13
Bank of Israel, said stricter super-
vision was required over the small
er banks to spot departures from
proper management, practices and
to safeguard thetliatereat.44 de-
positors and customers.
♦
5
Further detalii in the alleged
scandal surrounding the bankrupt-
cy last year of the Autocar Co.,
the Israeli affiliate of the British
Leyland Motor Co., came to light
as the Knesset finance committee
resumed its hearing. Former
Transport Minister Moshe Cannel
admitted to the committee that the
government had pressured Auto-
car to acquire the failing Tit auto
assembly plant in Haifa.
Carmel said the government
sought to merge the two firms in
PLUS 10' PER MILE
order to prevent the dismissal of
THIS RATE INCLUDES INSURANCE ■1
400 Til employes. The latter firm ' 111110111Rtne
faltered when the Studebaker
Corp. of the U.S. went out of the
automobile manufacturing business
several years ago.
11111111/i/
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RENT-A-CAR SPECIAL! 00
NEW 1972
j
NTIAC-11
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WI
Call
sopos
Shazar, Chicago Leader
to Get Honorary Degrees
NEW -YORK—President Zalinan
Shazar and Dr. Milton Ratner, Chi-
cago communal leader, will re-
ceive the honorary degree of doc-
tor of Jewish literature Thursday
at the Israeli president's home in
Jerusalem.
The convocation will be con-
ducted by the Hezliah-Jewish
Teachers. Seminary of New York'
City.
The ceremony will be conducted
by Dr. Mel Henkin, dean, and
-Dr. Gershon Winer, former dean
of the institution.
MIKE ?AMEN
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00
INCIF Wash.
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2484"41
1972 MAXWELL HOUSED COFFEE SWEEPSTAKES
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Maxwell Housee is the registered trademark of General Foods
YOU'LL STAY ONE WEEK AT
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OFFICIAL RULES
must be mailed in a separate envelope.
1. Use entry blank or write your name and address
clearly on a plain piece of paper 3" x
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nl&t, April 7, 1972 and received not later than April
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3. Mail to: MAXWELL ROUSE COFFEE. P.O.
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notified by mall. Prize Is transferrable but not redeem-
able for task and must be redeemed within one year of
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L The prize consists of: 2 round trip fares from New
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