EDITORIAL

'

Arab Boycott of Jewish

Financial Enterprises

Justifies Suspicions of

Menacing Arab Bank Control

The 'Armchair
Philosopler'
Ruminates
About Banking
Controls by
Oil Magnates

It doesn't matter whether the boycotter, as in the instance re-
ported from London, is Kuwaitian or Saudi Arabian.He could be
Iranian, Omanian, Syrian, Abu Dhabian, Egyptian. They are all
engaged in a boycott of Israel and of the Jewish people, and they
pose a danger for Jews who might become their partners in which
they seek control. If they are a menace to Jews in this country they
also are a menace. ipso facto to all Americans, to whom the,warning
must be issued anew: BEWARE!

The conscience of all men who aspire to justice is challenged by
the brutal, uncivilized methods pursued to destroy Israel.

Senatorial
Blindness:
When Bandit
Who Directed
Terrorists
is Glorified
as Moderate

HE JEWISH NEWS

Commentary
Page 2

VOL. LXVI, No. 23

If there was a single person who doubted the validity of the
warning that assumption of Arab control of an American bank car-
ried a menacing germ to society, his indifference would be dis-
pelled by the news that Arab investors in financial enterprises in
Europe boycotted three of the largest banking firms which happen
to be administered by Jews.
If it is possible for a Kuwaitian enterprise to pursue the boy-
cott of all Jews as well as Israel by denying participation of Jewish-
directed firms in an important enterprise, what's to stop a bank
controlled by an Arab from dealing in the same way with Jewish
depositors and investors, Jews seeking loans, in this country?

A Weekly Review

f Jewish Events

9 17515 W. Nine Mile, Suite 865, Southfield, Mich. 48075 424-8833

Editorial
'Page 4

$10.00 Per Year; This Issue 30c

February 14, 1975

British Firm Backs Anti-Jewish Act

Arabs Fail To Halt Boycott
Of Banks With Jewish Ties

Foundation Aids
Israel Awards
for Local Youths

The Meyer and Nathan Fishman Family
Foundation will provide five Israel Awards of
$1,000 each to outstanding local Jewish high
school students who will visit Israel during the
summer of 1975. The Award will be adminis-
tered by the Jewish Educators Council of Met-
ropolitan Detroit.
This is the second year that the Meyer and
Nathan Fishman Family will provide these
scholarships to enable students to visit Israel
under the auspices of an approved national or
regional group.
Applicants will be judged by academic
achievement, leadership, and community serv-
ice. The award encourages young people to con-
tinue their religious education and to gain in-
spiration from the land tif Israel. Additional
information and application forms are avail-
able from Cantor Arthur Asher at Temple Is-
rael. '

LONDON (JTA) — Banking sources in London and Paris report that several major European banks connected with
leading Jewish families have been barred from a number of routine international financial transactions in recent months
because of Arab pressure. The sources in London reported the existence of a blacklist of banking houses the Arab
governments want excluded from any financing with Arab participants. Those on the list reportedly included N. M.
Rothschild and Sons, S. G. Warburg and Co. and Lazard Freres.
London Bankers were quoted as saying that the source of the list was Kuwait and Arab banks dominated by Kuwaiti
interests. They said that at least a dozen other banking houses are on the boycott list. The Arabs apply pressure by
refusing to participate if Jewish-connected banking houses on the blacklist are included in fund raising syndicates.
The sources said that doing business with Israel has put about 1,000 industrial concerns and financial institu-
tions on the blacklist maintained by the Arab boycott office in Damascus. It's influence has increased recently
because many Western and Japanese concerns are avoiding dealings with Israel to be able to bid for business
opportunities stemming from Arab oil wealth.
One high level source in London listed seven transac-
tions, including one arranged last Friday, in which one or
more of the major Jewish connected banking houses were
Ekid
B5 8 6'4
818
barred from participating. Arab threats not to join in rou-
NIL III
tine financing are interpreted as threats not to invest their
fast growing surpluses in much bigger deals in the future
ae
8 EL3 %11B B
and bankers wishing to gain favor with the Arabs might
.111111 IIGn IIII !HI III mU' III III
respond to such pressures, the banking sources said.
ali88e860
The first case reported by the London sources was an
'1110' 'lily III 'NI.
issue of 100 million marks to finance a French highway.

(Continued on Page 16)

Kissinger's Shuttling Remains in Flux; Israel's
Position Tough on Withdrawals Without Peace

JERUSALEM (JTA) — Premier Yitzhak Rabin declared in the Knesset. Wednesday that Israel would not withdraw from
the Mitle and Gidi passes or from the Abu Rodeis oilfield unless Egypt showed its readiness to give up the state of war with
Israel. This was the rider, he said, to his weekend statement on ABC TV, when he said he would "recommend" ceding the
passes and the oil if Egypt would enter into a formal non-belligerency pact with Israel.
Rabin spoke only hours after Secretary of State Henry Kissinger and his party left for Cairo to sound out President Sadat
on a possible second-stage settlement. Observers saw the statement as a hardening of the Israeli line. The negative rider to the
original statement on ABC was not necessarily implicit in that interview. Now, though, the Premier had chosen to spell it out
in almost ultimative terms, the observers pointed out.

The hardening probably resulted from a quiet but insiitent campaign by Defense Minister Shimon Peres, who has
taken a more dubious and skeptical line towards the second-stage negotiations than that of the cabinet majority. While
he has been careful.at cabinet meetings, and during the actual talks with Kissinger this week, not to let his private
views and differences show through, he and his close associates are not hiding their feeling that Egypt is unlikely to
offer acceptable terms, and that it would be tactically wise•or Israel to state firmly at this time that it looked to Geneva
as at least an equally realistic and feasible next stage.

Peres' associates have said privately that while the original rationale of the "step by step" approach, as advanced by
Kissinger during last year, was that it could avert or delay Geneva, it is now recognized in Washington and elsewhere that
the Geneva peace talks' resumption soon is inevitable.
Well placed sources here believe that
Peres' thinking influenced the Israeli pres-
entation in the seven hours of talks with
Jewish Music Festival Salutes Bicentennial
Kissinger Tuesday. Time and again the Is-
raeli team stressed the demand for signifi-
The poster shown at right is issued in red, white and blue by the Jewish
cant Egyptian political concessions in re- Music Council of the Jewish Welfare Board to commemorate "American
turn for Israeli withdrawals.
Jewish Music: A Bicentennial Celebration," which will be held Feb. 25 to

(Continued on Page 16)

March 26 — from Purim to Erev Pesah.

-

,1
Bicentegnial
-Celebratioi4

4v.\$i t

Thirty-first Anna

W

• •1$1,

1
A
7
VIE1N

February 25-March 26,915 • Purim to Erev Pesach

JEWISH MUSIC COUNCIL

of the NATIONAL JEWISH WELFARE BOARD

