THE DETROIT JEWISH NEWS Friday, April 10, 1981 Tel Aviv Stock Exchange Booms By SIMON GRIVER Ap 5 LBS. OF MATZO World Zionist Press Service TEL AVIV — Investing in the Tel Aviv Stock Ex- change can be a precarious business. But despite- a re- cent traumatic tumble, in which some shares lost 50 percent of their value in one day, investors who have held stocks for the last year are still showing a hand- some profit. Much of the losses in the market's mini crash were regained in a subsequent rally. Last year, stocks were about the best investment A recent afternoon at the Tel Aviv stock ex- in the country, rising well over the rate of iniiation. In change. January, prices soared an every afternoon the 108 institutions with the latest average 32 percent. But shares quoted on the mar- developments as trading is what goes up must come ket are auctioned off to the evened out through the day. down and many saw the re- highest bidders, in these cent fall as inevitable: two areas. This is a drasti- I. Israelis will tell you about cally different procedure a neighbor who bought a from the continuous trading new car or color television in most Western stock ex- with his "winnings" and a changes. Each morning the fifth of the country now own brokers contact their clients shares. Disturbingly, many to find out whether they treat their stocks as a gam- want to buy or sell any of ble rather than an invest- their shares. ment. All the orders are math- With a new high-rise ematically matched by a stock market under con- central computer that cal- struction and to be com- culates the overall number pleted next year, Natan of shares to be bought or Shiloh, deputy general sold. A stock is marked manager of the stock ex- either "buyers only" or change proclaims a bright "sellers only" and the price future for brokers, investors rises or drops accordingly and industry. But he regrets until all the shares of that that so few Israeli com- company are bought or sold. panies are prepared to go This new high or low be- public and raise extra capi- comes the share's new price tal on the stock market. for trading the next day. "Entrepreneurs are re- The shares are auctioned luctant to relinquish any in turn and within seconds part of the control of their millions of shekels can be businesses," he says. "They added or wiped off the capi- would rather not have the tal value of a share, forcing extra cash than to carry out the price up or down five or the obligations of a quoted 10 percent or even more. company, like opening The swift and dramatic na- books to the public. The ture of trading attracts availability of cheap gov- many gamblers to the stock ernment loans also inhibits market. Some shareholders the stock market. If more Is- turn up to the visitor's gal- raeli companies were ac- lery at the time their shares countable to the public, are to be auctioned. then the country would Natan Shiloh acknowl- have a far healthier edges the problem. "Many economy." Israelis do not look upon At the moment the banks their shares as long term dominate the stock market. investments," he says. They own nearly 70 percent "Some are nothing but short of the shares and are the term gamblers. But the market's main brokers, trend is changing as more handling 90 percent of people are investing in transactions. In fact it was a mutual funds where skilled bank, the Anglo-Palestine, investors select the best that founded the stock ex- shares for their clients." Much of the drama will change in 1935. It received official government recog- soon be drawn out of the stock market as continuous nition in 1953. trading is introduced. A The stock exchange trad- radio network will be intro- ing floor is divided into two duced to link up the coun- alves. For several hours try's brokers and financial with every set of Mattresses purchased thru Passover Margolis Household Furniture 6 Mile, 1 Blk. W. of Schaefer ARNOLD MARGOLIS INTERIOR DECORATOR SERVICE MATTRESS SALE Featuring: Beauty Rest by Simmons and all other national brands Furniture and Bedding •SCHOOLFIELD •SELIG *SIMMONS •SEALY •SERTA *SPRING AIR •LA-Z- BOY •STIFFEL LAMPS •KROEHLER 'AMERICAN 'BURLINGTON •BASSETT s •BARCALOUNGER *LANE •UNIQUE 13703 W. McNichols 342-5351 Hrs. Mon thru Sat. 9:30 til 5:30 Now lowest in tar of aft brands. Terrorist Killed in Gaza TEL AVIV (JTA) — An Arab terrorist said to have headed the Israel security service's "Top 10" list was killed in a shoot-out with soldiers who tried to arrest him recently, the army said. Rafik Silmi was said to have been responsible for most 'of the murders and terrorist activity in the Gaza Strip during the past year. A resident of a camp near Gaza, he infiltrated back into the area at the be- ginning of 1980 and repor- tedly carried out a number of murders and grenade at- tacks usually on his own but sometimes with the help of local residents. When soldiers discovered his whereabouts and went to arrest him he opened fire on them and was killed in an exchange of fire. Named to JNF Warning The Surgeon General Has Determined That Cigarette SMoking Is Dangerous toYour Health. NEW YORK — Raphael Rothstein has been ap- pointed director of public re- lations for the Jewish Na- tional Fund of America. , ,=.••• .7 • • ' . 01 +44411P. Ix ARAI f . I ., - A 15