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Israelis Rush
On U.S. Dollars

Jerusalem (JTA) — Fear
that the next government will
have no choice but to devalue
the shekel has touched off a
rush on American dollars.
If the shekel is reduced in
value, it will require more to
buy a dollar.
As a result of the dealua-
tion panic, the Bank of Israel,
the country's central bank, is
being emptied of dollars at a
rate of $20 million a day. The
money is being invested in
consumer goods.
Since July, Israel's foreign
currency reserves have been
depleted by about $2 billion
because of devaluation fever.
But they remain at a healthy
$4 billion, so financial policy
makers are not concerned.
American economic aid to
Israel for civilian purposes
totals $1.2 billion a year,
prompting Likud Knesset
member Dan Tichon to com-
plain that "the street has
begun to dictate economic
policy."
The way to stop the rush on
foreign currency would seem
to be an "adjustment" of the
official Knesset exchange
rate of 1.58 shekels a dollar to
the black market rate of 1.9.
Authorities are concerned,
however, that any devaluation
will feed inflationary trends.
Bank Hapoalim economists
estimated recently that the
inflation rate might soar
again to 17 percent.
Inflation has failed to drop
to a single digit rate as
expected.

Accused Nazi
Files Appeal

New York (JTA) — Accused
Nazi collaborator Konrads
Kalejs filed an appeal Mon-
day with the U.S. Immigra-
tion Court in Chicago against
a deportation order.
Kalejs is appealing a Nov. 1
decision by immigration
Judge Anthony Petrone, who
ruled that Kalejs be sent back
to Australia, where he is a
citizen.
Kalejs served as a company
commander in the Arajs
Kommndo, a Nazi execution
squad in Latvia during World
War II, according to the
Justice Department's Office
of Special Investigations,
which brought the case
against Kalejs.
Kalejs, a native of Latvia,
now resides in Winnetka, Ill.,
and has a residence in St.
Petersburg, Fla. He came to
this country from Australia in
1959, concealing his wartime
activities from U.S. immigra-
tion officials.