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December 23, 1977 - Image 16

Resource type:
Text
Publication:
The Detroit Jewish News, 1977-12-23

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

16 Friday, December 23, 1977 THE DETROIT JEWISH NEWS

1PMEN

Bank of Commonwealth Figure Israel Head Ephraim Katzir
Purchases Bert Lance's Stock
Closes Oil Deal With Mexico

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WASHINGTON—Former
U.S. budget director Bert
Lance, who was forced to
resign several months ago
because of questionable
business dealings while he
was chairman of the Nation-
al Bank of Georgia, has sold
120,000 of his 200,000 shares
in the bank to the Saudi
Arabian businessman who
owned controlling interest
in Detroit's Bank of the
Commonwealth for nearly
two years.
The deal will bring Lance
$2.3 million, and he is ex-
pected to head Saudi Gaith
Pharaon's interests in run-
ning the bank.
Georgia bank officials

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were concerned about re-
ports that Lance would
again head the bank. As
chairman of the bank sever-
al years ago he generated
new business, but much of it
turned bad.
A spokesman for Lance
said that he would be busy
making investments in the
U.S. for his Saudi backers
and would not be heavily
involved in running the
bank.
Pharaon admitted that he
did not reali-ze the problems
when he purchased De-
troit's Bank of the Com-
monwealth, and in 1976 sold
his interest to First Arabian
Corp., which still controls
the bank.

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TEL AVIV (ZINS) — Is-
rael's musical world paid
tribute to 90-year-old Arthur
Rubinstein, who was guest
of honor at a concert mark-
ing the 20th anniversary of
the opening of "Hechal Ha-
tarbut." The concert fea-
tured Mahler's First Sym-
phony, conducted by Zubin
Mehta, and the soloist was
Isaac Stern. At a press con-
ference, Rubinstein said,
"My father always dreamed
of coming to Israel, but was
never privileged to do so. I
have inherited my love for
Israel from him."

TEL AVIV (JTA)—Pre-
side Ephraim Katzir has
disclosed that Israel will
buy $100 million worth of oil
from Mexico in the coming
year.
He told a press luncheon
here last week that this was
one of the aspects of im-
proving relations with Mexi-
co that emerged during his
visit to that country recent-
ly. He also visited Guate-
mala and Costa Rica.
Katzir said that the Mexi-
cans will expect favor for
favor. He noted that soon
after he left, Mexican Presi-
den Jose Lopez Portillo in-
vited Jewish businessmen in
his country to invest more
locally rather than send
their capital abroad.
President Katzir told the
journalists that he had no
plans for further official vis-
its abroad before his term
of office expires next May.
Asked if he would stand for
re-election, Katzir replied,
"this is not my wish, at
present."
Meanwhile, Israeli oil ex-
perts said they now believe
that the network of oil wells
that are planned for drilling
in the A-Tour region in
south Sinai may yield some
nine million tons of oil,
some two million tons more
than is consumed annually
in Israel.

Minister of Energy Yitz-
hak Modai and Yisrael Lior,
the coordinator of oil pros-
pecting, declined to com-
ment on the assessment of
the oil experts. They said,
however, that they had al-
ways maintained that there
was oil in A-Tour.

Elderly Jews
Get Kosher Meals

NEW YORK (JTA)—Two
more federally-financed
programs to provide kosher-
lunch programs for eldei
Jews have been started, one
in Yonkers, N.Y. and the
other in Lakewood, N.J.
The Yonkers program
was officially opened in Oc-
tober by Vice President
Walter Mondale. It served
160 elderly persons on the
opening day, according to
Murray Gunner, executive
director of the Yonkers
Jewish Community Center,
the site for the program.
The Yonkers program
was funded for a one-year
demonstration project to
provide 50 meals a day five
days a week through the
Westchester County and
Yonkers offices of aging.
The $36,000 grant for one
year was provided under
Tale VII of the Older Amer-
icans Act, the source of
funding also for the Lake-
wood project.

THE PROGRESSIVE ZIONIST LIST

TOWARDS THE 29th WORLD ZIONIST CONGRESS
Share in the Building of ISRAEL Vote for Peace NOW
While our support for Israel is unconditional, any policies of the present (Begin) government which
freedom of religious expression, seek to destroy the trade union movement and - the glorious
Your Vote deny
achieVements of the Kibbutzim and undermine the goals of peace in the Middle East, must be
For challenged at the forthcoming World Zionist Congress.
example of
SLATE Socialist Zionism, based on the vision unique
of an egalitarian
of the Likud Government which is leading to runaway
4 society in Israel.
inflation, widening of the social gap, impoverishing the
that will stand ready
workers
and threatening the gains of the Labor
major territorial withdrawals in return for
movement.
Will: to real negotiate
peace between Israel and her Arab neighbors and

DEFEND the kibbutz movement, the

DEMAND an End To The_ Disastrous Economics

FIGHT for an Israeli Government

for the rights of all peoples in the Middle East, including
the Palestinians, to self-determination.
SUPPORT Full Freedom of Conscience and Jewish cul-
tural and religious pluralism; put an end to the Orthodox
religious monopoly in Israel.

STRUGGLE For Jewish Rights in the Soviet Union, Arab

States, and throughout the World; and encourage Aliya
as the most effective means of contributing to the fulfill-
ment of Jewish and Israeli society.

HELP PUT ISRAEL ON THE ROAD TO PEACE SUPPORT THE ONLY PROGRESSIVE ALTERNATIVE

VOTE FOR SLATE 4

SUPPORT THE ONLY PARTY THAT HAS CONSISTENTLY FOUGHT FOR DEMOCRACY IN
THE ZIONIST MOVEMENT
1. WE ARE THE ONLY PARTY THAT-OPPOSED A DECISION THAT AN AGREEMENT BY 90%
OF THE PARTIES COULD ELIMINATE ELECTIONS AND WE WON.
2. WE VOTED AGAINST A DECISION THAT ONLY 55% OF THE DELEGATES WOULD BE
ELECTED AND THE REMAINING 45% WOULD BE ALLOCATED ACCORDING TO NUMER-
ICAL STRENGTH OF EACH ORGANIZATION AND WE WON.
4. WE WERE THE ONLY ORGANIZATION TO VOTE AGAINST A DECISION TO ELIMINATE ALL
INFORMATIONAL MATERIAL FROM THE BOOKLETS ACCOMPANYING THE BALLOTS AND
WE ARE STILL CHALLENGING THIS DECISION.

• Bella Abzug • Richard Yaffe • Arlene B. Fischoff • Ned Smokier • Miriam
Rayberg • Isaac Kessler
• Dr. lying Panush • Dr. Arthur Feuer • Devera Stocker • Max Shniderman

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