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May 29, 1981 - Image 16

Resource type:
Text
Publication:
The Detroit Jewish News, 1981-05-29

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

THE DETROIT JEWISH NEWS

16 Friday, May 29, 1981

LOWER PRICES
BETTER QUALITY FASTEST DELIVERY
VERTICALS-DRAPES-BLINDS

CALL

559-8209

YOU CAN'T GO WRONG
WITH

HURTIG
WINDOW INTERIORS
"WE PUT THE AC ENT ON WINDOWS"

Heartiest Congratulations To

RABBI & MRS. JOSHUA SPERKA

ON THEIR 50th WEDDING ANNIVERSARY

May they be blessed with many
more healthy years to enjoy the fruit
of their work for K'LAL Israel and
much Nachas from their children
and grandchildren.

Detroit Friends of

Shaare Zedek Hospital
in Jerusalem

Diamonds

Israel's Biggest Business

By JUDY CARR

closed down for shorter or
longer periods. This is ex-
plained by the recent drop
in retail demand for
diamond rings and jewelry.
Recently a new building
was added on to the
diamond exchange, with a
connecting bridge between
them. Security in these two
buildings is the most
sophisticated in the world.
At night, an "Electronic
Eye." can see whoever is ap-
proaching the building from
three miles away.

World Zionist Press Service

The Ramat Gan Diamond
Exchange must be one of the
most exciting places in Is-
rael — or in the world. Here
manufacturers, merchants
and brokers buy and sell
polished diamonds in
multi-million - dollar deals.
The huge complex of
buildings is a world in itself:
everything a human being
needs- for the day is on the
premises so that the
diamond dealer has no need
to take himself out of the
building till he leaves it in
the evening. There are
banks, barber shops, travel
agents, restaurants — even
medical facilities.
It is also one of the most
expensive buildings in the
world. Offices cost
thousands of dollars to rent.
It costs a bank $18 a square
meter per month just for
maintenance purposes. The
corridors are lined with
offices of diamond mer-
chants.
As for the floor of the
exchange, it is occupied,
by earnest men, and not a
few women, dealing in a
commodity the name of
which is synonymous
with riches. Most of the
men wear kipot.
To become a member of
the diamond exchange is a
tough business. Your record
is checked and counter-
checked, socially, finan-
cially and businesswise.

DMS

13rie fr -es II
lor
J ERUSALEM DAY
J UNE
7,
19 81

N
JERUSALEM

O

CITY OF PEACE

CELEBRATE 14 YEARS
OF REUNIFICATION

• WEAR YOUR BLUE 8 WHITE!

• 1 P.M. — RALLY: OAK PARK PARK, NORTHFIELD NR. CHURCH.

• ERIC ROSENOWand his CONTINENTALS,
Detroit Federation of Musicians

• BRING PICNIC LUNCH

• RAIN — MEET 1 P.M.: J.C.C. - 10 MILE BRANCH

• FOR INFORMATION CALL 547 0790
DETROIT ZIONIST FEDERATION

-

P.

Israel's Diamond Exchange
You are a part-member for
roughs cheaper to the man-
three years before being
ufacturers than for export.
fully admitted, and in case
The Israeli cutters and
of a departure from the ethi-
polishers can adapt
cal norm, such as failing to
themselves speedily to
pay on time, you can be
-whatever type of stone is
thrown out. A special court
needed on the market.
at the exchange judges
The
Israeli industry spe-
these proceedings under a
cializes in melees, the
complicated legal system
smaller stones, but can
with precedents and prev-
also switch to medium
ious verdicts to guide it.
size stones if there is a
The manufacturers sell to demand for them inter-
the merchants through nationally.
brokers. The brokers make
Israel exports more than
the deal with the merchant,
who sends up his bid to a billion dollars worth a
manufacturer in a sealed year of polished diamonds,
envelope. If it is acceptable, which are the country's
the deal is concluded with a leading export. The preci-
"Mazal." Nothing is written ous stones exchange re-
down and nothing is signed. cently became part of the
The word is enough in the diamond exchange and vast
deals are carried out in
diamond business.
"Mazal," the good old emeralds, rubies, sapphires
Jewish word meaning luck, and semi-precious stones.
However all is not well
is used in every Exchange
throughout the world, even with the Israeli diamond
in Singapore and India. The industry. Increasing num-
bers of dealers and man-
term used to be "Mazal
u'bracha" but this was ufacturers are in financial
difficulty and diamond
gradually shortened. _
The Ramat Gan polishing plants are being
Diamond Exchange be-
gan, like so many other Rabbis' Award to
Israeli enterprises, on a
shoe - string, accom- Ben Zion Bokser
NEW YORK — Rabbi
panied by prophecies of
failure. Moshe Schnitzer, Ben Zion Bokser, spiritual
the exchange's president, leader of the Forest Hills
recollects that just before (N.Y.) Jewish Center, has
it opened its doors in been chosen the first reci-
1968, the director general pient of a special prize for
of the Ministry of Com- "outstanding rabbinic
merce, Gideon Lahav, scholarship" by congrega-
suggested to Schnitzer tional rabbis by the Rabbin-
that the vast building be ical Assembly.
turned over to the gov-
The prize, established by
ernment as a hospital, as
the
Beth El Sisterhood in
the diamond business
Baltimore, Md., and ad-
was in a depression.
ministered by the Rabbini-
Schnitzer says, "For a
cal Assembly, the interna-
time we made no sales. We
tional association of Con-
had no capital and could not
servative rabbis, was
speculate but had to do it all
created to honor Rabbi
on the basis of turnover."
Jacob B. Agus, rabbi
Now, much of the world's
emeritus of Beth El Con-
diamond business is done in
gregation, on his retire-
Israel, not only at the
ment.
Ramat Gan Exchange but
Rabbi Ben Zion Bokser,
at a smaller exchange and
who has been the spiritual
in other places not far away.
leader of Forest Hills
Schnitzer claims that the
Jewish Center for 47 years,
Israeli diamond polishing
and is currently serving as
and cutting manufacture is
the chairman of the Rabbin-
the most flexible in the
ical Assembly's Committee
world as regards the type of
on Jewish Law and
stone, and has more know-
Standards, was awarded the
how than other countries.
Agus prize "for his distin-
This enables Israel to corn-
guished career spanning
pete with countries such as
almost five decades." In that
Russia and South Africa
time, he has authored 14
that have their own
books and dozens of essays.
diamond mines and sell the

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