LOW Home Equity
Rates

and 9 percent in 1991. One of
the most powerful influences
on the Israeli economy is the
influx of Soviet Jews that
began two years ago. Last
year, nearly 200,000 Soviets,
many highly skilled and
educated, arrived on the
Israeli shore. Up to one Trillion
immigrant° are expected to
move to Israel by 1995.
While such a migration can
strain government services
and create unemployment, the
wave of immigrants is already
having a positive effect on the
Israeli economy. The housing
demand for the immigrants is
allowing building trades com-
panies like Etz Lavud Ltd., to
flourish. Etz Lavud, Israel's
largest wood product and
laminate supplier, earned
$2.37 a share last year on
sales of $97.5 million — a
sharp contrast with the 62
cents a share it cost the year
before on sales of $79 million.
And huge building develop-
ments in Natanya, Ashdod,
Ashkelon and elsewhere sug-
gest the further growth of
Israel's building industry.
Another influence on the
Israel economy is the growth
of privatization. To help pay
debt and fund services for the
influx of immigrants, the
Israeli ,government plans to
sell portions of 10 companies.
Bezeq (Israel's telephone com-
pany), El Al (national airline)
and Zim (shipping) are ex-
pected to float their shares in
U.S. markets. Clal (conglomer-
ate), Elite (confectionery) and
other companies with sales of
$100 million to $2 billion are
registering with the Securities
and Exchange Commission to
trade on U.S. exchanges.
These new entrants, coupled
with the solid performances of
Israeli companies traded here
may suggest that the market
for Israeli securities is on the
verge of a major expansion.

❑

NEWS

MARGIN OVER PRIME

Call our Equity Dept. for details
1-800-642-INFO

Interest rates as of 9 11 91

-

40 0

• No application fees
• No appraisal fees
Huntington
Banks • No points
• No kidding!

5.10
4.85
4.50
4.90
5.10
5.10
4.75

',Based on $5,000 deposit. Some minimum deposit requirements may be lower.
Higher rates may be available for larger- deposits.

"'Prime Rate" is the Bank Prime Lone Rate as published by the Board of
Governors of the Federal Reserve System. Rate example: If the Prime Rate is
81/2% and our margin is 11/2 % over prime, our Annual Percentage Rate
would be 10% (rate in effect at publishing date 8/91). The rate is subject to
change monthly, and will not exceed 18%. nor go lower than 9%. You will
be required to carry insurance on the property that secures your account.
Customers with an existing Home Equity Loan from Huntington Banks can
change to the new rate by paying a S75 transfer fee.

FIVE YEAR CERTIFICATE
SPR;M:iliiat*ORMENNE ...gfeetitt ‘ 8-.... 5,,,,

7.00% 7.23%

$1,000 minimum balance.

DESIGNS IN DECORATOR
LAMINATES

For High Quality Formica
Always At A Great Discount

SPECIALIZING
IN:
• Wall Units
• Bedrooms
• Dining Rooms
• Credenzas
• Tables
• Offices
ALSO
SPECIALIZING:
• Woods • Glass
• Stones • Lucite

Franklin
Bank

Member

FDIC

N.A. .

r
LENDER

For information, call 358-5170

Southfield • Birmingham • Grosse Pointe Woods

STOCKS TAX-FREE BONDS MUTUAL FUNDS

A
X

IT DOESN'T HAVE TO COST A
FORTUNE . . . ONLY LOOK LIKE IT!
CALL LOIS HARON 851-6989

'X

First of Michigan
Corporation

P
T

Members New York Stock Exchange, Inc

U

RESALE SPORTS

FoM

INVESTMENTS

Herman Schwartz

A

L

Branch Manager .

L

A

The Original

Full Line
Resale Sports Store

Blasts Prices
On New High Fashion Skiwear
,

$39.99

•Jackets

T.

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Travelers Tower / Suite 1020
26555 Evergreen Road / Southfield, Mich. 48076
(313) 358-3290
Michigan Toll-Free 1-800-826-2039

N

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G

TAX DEFERRED ANNUITIES IRA's MONEY MANAGEMENT

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,

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Extend Warm Rosh Hashanah Wishes

Ski Packages Starting at $49.99
Huge Selection Of Like New Used Skis, Boots & Poles

May the New Year bring
our members, supporters and
friends in Michigan and Israel
the special blessings of peace,
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•

(Values To $80)

We Pay Cash For Your Used Sports Equipment

LAKEVIEW PLAZA

- ..,1

L — J

Cooley Lake Road w „___
,„,
a
6__ 77-_l
1/2 Mi. West of Mitch's Restaurant ,_

5560

A

Senior Vice President - Investments

Allied Member ASID

Stays Open

-

National Bank of betroit
Manufacturers
Comerica
Michigan National
Standard Federal
First Federal of Michigan
First of America

MEMBER FDIC
Cr EQUAL HOUSING LENDER

PLO Office

Copenhagen (JTA) — The
Palestine Liberation Organ-
ization has reversed a deci-
sion to shut down its infor-
mation office here, after an-
nouncing in July that it
would be closed.
The PLO representative in
Denmark informed the
Foreign Ministry that the
office will remain open but
with a reduced staff.
Those apparently were the
orders from PLO head-
quarters in Tunis. The office,
from which the PLO covers
Denmark and Norway, also
will move to a cheaper loca-
tion.

Metro Detroit's newest
old bank is still the best!

683-0190

(Open 7 Days)

THE DETROIT JEWISH NEWS

59