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
The move stemmed from the
recent failure of the Agudath Israel
Bank -tmder `stances that
- hinted at the emergence of a new
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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The Bank Lomat* the parent
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.
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.
RENT-A-CAR SPECIAL! 00
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
The convocation will be con-
ducted by the Hezliah-Jewish
Teachers. Seminary of New York'
The ceremony will be conducted
by Dr. Mel Henkin, dean, and
-Dr. Gershon Winer, former dean
of the institution.
1972 MAXWELL HOUSED COFFEE SWEEPSTAKES
Pan Am makes the going greater
every day to more European cities
than any other airline.
Maxwell Housee is the registered trademark of General Foods
YOU'LL STAY ONE WEEK AT
HOTEL INTER, CONTINENTAL
from New York to London, Parisiifloine. Then on to Israel via
connecting jet. Stop over privileges in many foreign countries.
AT TOUR STORE
ENTER AS OFTEN
AS YOU LIKE
one of Israel's
new luxury hotels.
Overlooks Old City.
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
5. All entries must be postmarked not later than aild-
nl&t, April 7, 1972 and received not later than April
2. Enclose your entry with any of the following: The
Maxwell House symbol snipped from the plastic lid on
any can of Maxwell House Coffee. Or The imer seat from
a l a
l bi Zi °f HZUSE
printed Muplaln block letterson a pleb;
piece of paper 3" a 5'
3. Mail to: MAXWELL ROUSE COFFEE. P.O.
New York. New York 111017 -
often as you id*, but each entry
t. Wimer of prize described below will be selected by
blindfold drawing on April 17, 1972 and will be promOTIT
notified by mall. Prize Is transferrable but not redeem-
able for task and must be redeemed within one year of
above dab. -
L The prize consists of: 2 round trip fares from New
York to Israel via Pan American Airways with stopover
privileges in many European countries; room accommoda-
tions for two people for one week at the Hotel Inter-
Continental Jerusalem. Transportation to New York and
other expenses not Included.
S. Sweepstakes Is open to all residents of the United
Zgrusing agencies, judging staff, and their familirs.
Missouri residents are required to ;end only their names
S. Any liability for federal, state and local taxes will be
the responsibility of the winner.
10.No purchase aeortssry.
11.Vold where prohibited, taxed or restricted by law.
Cbsnzalsrn need berg srf ilsI