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September 17, 1976 - Image 7

Resource type:
Text
Publication:
The Detroit Jewish News, 1976-09-17

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

THE DETROIT JEWISH NEWS

Friday, September 17, 1976 7

Arabs Among Buyers of Stock in Reynolds Securities of U.S.

NEW YORK (JTA) — A
Paris-based interna-
tional consortium, half of
which is made up of banks
in oil-rich Arab states, in-
cluding the Persian Gulf
principalities, Saudi
Arabia and Libya, has
purchased nearly 10 per-
cent of the common stock
of Reynolds Securities
International, one of
America's largest Sec-
urities organizations.
The transaction was
announced by Reynolds'
chairman, Robert M.
Gardiner, who stressed
that the sale was a pri-
-ate arrangement bet-
een a group of indi-
vidual shareholders who
wanted to liquidate and
that Reynolds itself was
not a participant.

-

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F

c0x--)0Z-u4g0.,(0-$.- 4

Mazel Toy
Lois & Seymour
on your sons
BAR MITZVA

Love Alan, Harriet
Steven & Illyse

4

-4(0-,e0a0x0.) ,''Zur•Z-1(0-,e004-

Gardiner said, how-
ever, that the sale of
500,000 shares was wel-
comed by Reynolds be-
cause it would serve as a
channel through which
petrodollars will flow into
constructive investments
in the free world. He
noted that "insider"

shareholders of Reynolds
continue to own approxi-
mately 50 percent of the
outstanding voting sec-
urities.
The purchase was made
by Banque Arabe et Inter-
nationale d'Investisse-
ment (BAII), a wholly-
owned subsidiary of the

U.S., Israel to Jointly Read
Satellite Photographs of Sinai

TEL AVIV (JTA) — The
United States and Israel
will hereafter jointly in-
terpret satellite photos of
Sinai to determine
whether violations of the
interim agreement with
Egypt have occurred.
It was disclosed that Is-
raeli intelligence officers
joined U.S. officers at the
office of the American
Military Attache here to
read the latest aerial pic-
tures.
The photos cover the
Sinai buffer zone and the
limited forces zone. An
earlier set of pictures was
blurred. Israel had con-
tended that Egypt had at
least six more battalions
in its limited forces zone
than the eight allowed
under the interim accord.
UN observers, sup-

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ported by American intel-
ligence data, insisted that
there were only three un-
authorized battalions and
subsequently, only one.
A dispute arose over
the American intelli-:
gence reports. The news-
paper Haaretz charged
that the Americans de-
liberately produced un-
clear satellite photos to
prevent the detection of
Egyptian forces.
This was strongly de-
nied in Washington and
Israel and the U.S. ag-
reed later that the photos
were fuzzy due to cloud
conditions.

El Al Landing Right
in Mexico Granted

JERUSALEM (JTA) —
President Luis Echever-
ria of Mexico and Israeli
Ambassador Hanan Enor
met in Mexico City to con-
clude an agreement in
principle to grant El Al
landing rights in Mexico's
capital, it was reported in
the Jerusalem Post.
In an interview with
Erwin Frenkel,
Jerusalem Post corres-
pondent, Mexico's chief
executive stressed his
support for Israel and
said he hoped the agree-
ment with El Al" would
help boost tourism to
Mexico and also smooth
over what he termed "the
misunderstanding" with
Israel over Mexico's vote
last November in the UN
General Assembly for the
resolution equating
Zionism with racism.

Executives!
High Cash Value
Insurance

Jordan Raider
Manager

Irving Lobar
Representative


Charles Dennis
Manager

Jack Lebowitz
Representative

This plan guarantees safety of your
money for tomorrow, yet offers unusu-
ally high cash value in the interim! It's'
Gleaner's modern Executive Special.
Phone for an appointment to get the
details.

Other representatives in this area:
Diane Glazer and Frank Blazofsky.

LIFE INSURANCE

SOCIETY

Stuart Milgrom
Representative

Nate Baker
Representative

t600 N. WOODWARD • BIRMINGHAM. MICHIGAN • 48012

Radomer Society
consortium, Compagnie Will Hold Meeting

Arabe et Internationale
d'Investissement (CAII).
The Arab interest in
BAII, amounting to 50
percent, includes the
government of Abu
Dhabi; three Kuwaiti
banks; one Lebanese
bank; the National In-
vestment Co. of Libya and
the Gumhouria Bank of
Libya; banks in Morocco,
Qatar, Tunisia, Sudan
and the National Com-
merce Bank of Saudi
Arabia.
Non-Arab participants
include the Bank of
America and banks in
Austria, Belgium, Brazil,
Canada, France, West
Germany, The_Nether-
lands,
Italy, Japan,
Luxembourg,
Spain,
Switzerland
and
Barclay's Bank of the Un-
ited Kingdom.
Yves Truffert, chairman
and chief executive direc-
tor of the BAII, which was
incorporated in 1973,
noted that its primary ob-
jective was to promote
fruitful financial coopera-
tion between the Arab and
non-Arab world.
A fact sheet released
with the announcement
stated that the sale was
in no way indicative of an
Arab takeover.

Radomer Aid Society
will meet 8:30 p.m. Tues-
day in the Zionist Cul-
tural Center.
Refreshments will be
served, and a social hour
will follow.
The society will make
its annual month of Elul
visit to the Radomer Sec-
tion of the Chesed Shel
Ernes Cemetery 1 p.m..
Sunday.

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sincerely wish that
THE NEW YEAR
will bring you
good health, and a
good measure of
happiness.

in the new enclosed
Orchard Mall
on Orchard Lake Road
1 /12 mile north
-
Phone:
of Maple Road
851-9080

CLOTHES

of West Bloomfield

Open daily 10 to 9 p.m. Sat, till 6 p.m.

Raider-Dennis Agency, 17117 W. Nine Mile, Suite 333, Southfield

Phone
549-7170

OPEN SUNDAY, 12 to 5PM

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