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July 12, 1974 - Image 12

Resource type:
Text
Publication:
The Detroit Jewish News, 1974-07-12

Disclaimer: Computer generated plain text may have errors. Read more about this.

Bar-Ilan University Elects Stollman to Head Global
Board; Vote Honors for Zvi Tomkiewicz on Sept. 12

RAMAT GAN, Israel—De-
cisions to expand the campus
of Bar-Ilan University were
reached at the meetings of
the global board of directors.
tors.
Phillip Stollman of Detroit,
who was elected chairman of
the board, announced that
the new campus will be
known as the William Levitt
Campus, in honor of the
prominent American builder
who was one of four to re-
ceive honorary degrees at
the ceremonies held in con-
nection with the global meet-
ing.
The other three thus hon-
ored were-the noted German
publisher, Axel Springer,
Prof. Sir Ernst Boris Chain,
a Noble Prize winner, and
E. Alec Colman, noted British
Zionist.
The international board
unanimously adopted a reso-
lution expressing appreci-
ation for a lifetime of work
for Mizrachi and Bar-Ilan
University by Zvi Tomkie-
wicz, the director of Detroit
Friends of Bar-Han Univer-
silty. Board voted to have
representation at the annual
Detroit Bar-Ilan dinner, Sept.

head the executive commit-
tee of the functioning Israel
board.
Stollman announced that
the plans for expansion of
the Levitt Campus will in-
volve a cost, over a 10-year
period, of 350,000,000 Israeli
pounds.
• • •

Detroiter Phillip Stollman, second from left, associate
chairman of the Bar-flan board of trustees, watches with
Israeli President Ephraim Kat2.-ir, extreme right, as hon-
orary doctorates are awarded at the recent graduation
exercises of Bar-Ilan University. Chancellor Dr. Joseph H.
Lookstein reads the citation awarding the honorary degree
of doctor of philosophy to William Levitt, of New York,
builder of Levittown and major supporter of higher educa-
tion in Israel. Seated next to Stollman is Dr. Israel Peled,
mayor of Ramat Gan, the suburb of Tel Aviv in which
Bar-Han is located.

Katzir was a guest partici-
pant in the programs.
University Rector Prof.
Menahem Zevi Kaddari con-
ferred the honorary degrees.
In addition to the election of
Stollman as chaimran of the
global board, Dr. Zerach
Wahrhaftig was named to

Bank Failure Re-Opens Old Political
Feud; Possible Criminality Probed

JERUSALEM (JTA) — An
emerging bank scandal took
on political ramifications
this week and reactivated a
long-standing feud between
former Finance Minister
Pinhas Sapir and Moshe
Zanbar, governor of the
Bank of Israel.
Sapir, who has retired from
the government and was
elected chairman of the
World Zionist Organization
and Jewish Agency execu-
tives last month, insisted on
appearing before the Knes-
set finance committee, which
is looking into the failure of
the Israel British Bank.
The Bank of Israel an-
nounced Monday that it was
taking over Israel British
and planned to close it down
in 10 days to protect its de-
positors. The government is
also probing possible crimi-
nal acts by the bank's own-
ers and has taken legal ac-
tion to prevent them from
leaving the country until the
'investigation is completed.
But the government was
criticized in opposition quar-
ters for seizing the bank and
preventing its purchase by
two larger Israel banks, the
Bank Hapoalim and Bank
Hamizrachi. The deal fell
through, however, when the
two purchasers discovered
obligations involving millions
of dollars that the Israel
British owners had failed to
report.
Sapir appeared before the
finance 'committee to refute
allegations that he was part-
ly responsible for the de-
terioration of the Israel Brit-
ish Bank. He conceded that
the bank's owners, the Wil-
liams Group, were large con-
tributors to the so-called
Sapir Foundation, a charita-
ble fund run by the ex-

finance minister when he
was in office.
But he rejected claims that
he might have been privy to
the bank's difficulties be-
cause of that relationship.
At the same time, Sapir
criticized Zanbar and the
Bank of Israel for investing
30,000,000 deutschemarks of
Israel's foreign currency in
the Israel British Bank's
London branch, instead of in
larger institutions such as
the Bundesbank, the U.S.
Federal Reserve Bank or
Chase Manhattan.
Sapir said he had written
to Zanbar early in the year
asking him to coordinate in-
vestments of Israel's foreign
currency with the finance
ministry. "I did not receive
an answer to that letter until
my last day as finance min-
ister," Sapir said.

Finance Minister Yehoshua
Rabinowitz and Justice Min-
ister Haim Zadok told the
finance committee that the
government had no choice
but to allow the Bank of
Israel's national bank to
take over Israel British.
Zadok indicated that the
bank still may be sold to
Bank Hapoalim, Israel's sec-
ond largest bank, and Bank
Hamizrachi, which ranks
fifth. The Bank of Israel has
assured Israel British deposi-
tors that they can withdraw
their money up to IL 50,000.
But the larger customers
were told they would have to
prove non-involvement in the
bank's tangled affairs.
Rabinowitz and Zadok met
with Zanbar later Wednesday
to determine whether the
Bank of Israel will honor the
failed bank's overseas obli-
gations. Banking sources be-
lieve they will be honored if

RAMAT-GAN — Following
terrorist attacks in the north
of Israel, the sociological re-
search unit at Bar-Ilan Uni-
versity has started a survey
'dealing with the effects of
terrorism on segregated bor-
der communities.
A team of researchers has
established contact with vol-
unteer workers, local officials
and citizens in Safed, Kiryat
Shmon a, Hazor, Ma'alot,
Biria and Elkosh.

More than 1,500 teachers
in secondary and junior high
schools throughout Israel will
attend special summer
courses being given by the
school of education at Bar-
Ilan University in co-opera-
tion with the ministry of
education.

NEW YORK — The direc- of living of people who live
tors of the American Jewish depressed parts of these
Society for Service have areas.
chosen three sites for their
1974 summer work camp pro-
gram: Tacoma, Wash.; Au-
burn, Ala.; and Orland, Me.
Juniors and seniors in high
school will participate in
trying to raise the standard

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Meanwhile, the government
is checking several possible
offenses by the Israel British
owners : Inaccurate reports
to the controller of banking;
funneling customers' deposits
to companies owned by their
bank; mortgaging bank de-
posits with a Swiss bank
while declaring itself free of
mortgages; and the establish-
ment of fictitious companies
registered in Vaduz, Lichten-
stein, in violation of Israel's
foreign currency laws.

The Israel British Bank
was founded in the 1920s by
Polish Jewish immigrants as
the Immigrant Bank. It was
purchased in 1938 by the late
Nahum Zeev Williams and on
his death passed into the
hands of a group headed by
members of his family. It is
the fifth relatively small
Israeli bank to fail in recent
years.

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THE DETROIT JEWISH NEWS

Work Camp Projects Sites Selected

Survey Effects
of Terrorism

„A4:4,44
It.

12, to be given in honor of
Tomkiewicz.
Dedication of the Levitt
Campus and of a dormitory .
in honor of Mr. and Mrs.
Nissim David Gaon were
on the annual conference pro-
gram.
Israel President Ephraim

12—Friday, July 12, 1974

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Starting Sun., July 7 to Fri., Aug. 2 the third person in

a room (with 2 adults) will be only $3.00 per day
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AUGUST-VACATION FOR THREE!

Third person will be $8.00 per day

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person in room (with 2 adults) will pay only
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AUGUST BONUS

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GOLFERS WEEKEND—Sept. 6-8

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