Thanks Billions!
BANDWAGON page 37
(ActtiallyMore, But We
Lost Count Decades Ago)
Michigan's Largest Independently
Owned Mortgage Banker, Period.
• Stability - Serving homeowners for nearly 50 years.
• *Service - A cominiunent to 7-10 day approval time.
• Low rates - Always.
7.A1
MEMBER
DMR
FINANCIAL SERVICES, IN C.
Serving Homeowners Since 1946
24445 Northwestern Highway, Suite 100, Southfield
313-827-2436
Gain Access to
Outstanding
Investment Managers
PaineWebber has the key to finding the right
money manager for individuals and institutions
with portfolios of $100,000 or more.
Find out about PAINEWEBBER ACCESS:
a comprehensive approach to
total portfolio planning and management.
For a free consultation call
Gerald E. Naftaly or Alan A. Gildenberg
at (313) 851-1001 or (800) 533-1407.
PaineWebber
We invest in relationships.
32300 Northwestern Hwy., Suite 150 Farmington Hills, MI 48334
Nlembcr SIPC
Cr)
THE REPUBLIC BANK
RATE TABLE
Rates and prices that affect your
daily finances as of 10/1/93
Prime rate
6.0%
Six Month T-bill
3.06%
Gallon Unleaded Gas
$1.01.9
Avg. Price Greater Bloomfield
Area Home
$155,350
Canadian dollar
$.801 U.S.
Apple Cider (gallon)
$4.50
Call For Details
or Visit Republic Bank Today!
121 .
Ham
REPUBLIC
BANKS. S. E. Member
LENDER
J
1700 N. Woodward Ave., Bloomfield Hills
258-5300
18720 Mack Ave., Grosse Pointe Farms
882-6400
EVERY BOOK
DISCOUNTED!
LL
CC
I-
LL!
LLJ
H-
38
PAGES &
PAGES, LTD,
14 111114E AND
IIAGGERTY
(NEWBERRY CENTER)
. 669-3388
HOURS: MON-SAT: 10-9
SUN: 12-5
dio that the United States will
"participate in some manner,"
but that the funds will "pri-
marily come from others."
"The Gulf countries, coun-
tries around the world, I think,
will be interested in participat-
ing," Mr. Christopher said. 'The
United States, as usual, will do
its part, and I think we will try
to help facilitate the contribu-
tions, but this will not be pri-
marily a U.S. financial
responsibility."
The World Bank has recent-
ly completed a report outlining
its recommendations for $3 bil-
lion in economic aid for the ter-
ritories. The report was
commissioned last winter at the
request of the economic devel-
opment group in the multilat-
eral Middle East negotiations.
It was completed before - and
independent of- the recent po-
litical breakthrough.
The report recommends that
the $3 billion be invested in the
territories over the next eight
years. Of that, $1.3 billion
would come in the first three
years, during the first phase of
the interim Palestininan self-
government.
All funds are destined to ad-
dress basic infrastructure and
technical needs, from building
schools and hospitals to train-
ing professionals.
"We don't address the issue
of private investment outside of
infrastructure," a World Bank
official said in an interview. He
declined to be identified. "What
we made is a private-sector as-
sessment, and what facilities it
needs to improve its condi-
tions...We don't believe it [the
private sector] is a priority.
"Government should provide
the basic physical infrastruc-
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
FDIC
LU
Cr)
tion among Arab countries and
between Arab countries and Is-
rael," said the aide, speaking on
condition of anonymity.
According to Hideo Sato, the
political affairs secretary at the
Japanese Embassy in Wash-
ington, his country has not yet
made any decisions.
"We are still in the process of
considering what we can do in
this early empowerment fund,"
he said. "It mostly depends on
the Palestinians, what they
want.
"We cannot go ahead of the
agreement. We cannot say as
outsiders what the Palestinians
should do," said Mr. Sato, who
spent eight years at the Japan-
ese Embassy in Tel Aviv. "We're
waiting for their initiative. We
know the need is there." Cur-
rently, he said, "there is no tar-
get for the amount to be raised
for this funding" by Tokyo.
The Saudis, likewise, are
awaiting specific Palestinian
proposals for aid, which the
kingdom promised at the start
of the Madrid process would be
forthcoming.
But "to ask Saudi Arabia to
contribute to a fictitious fund or
entity doesn't make sense," said
a Washington-based Arab diplo-
mat, saying the Saudis want to
be sure that cash won't disap-
pear into "a black hole."
"The country that has to be
in the driver's seat is the Unit-
ed States," he said. "The Unit-
ed States has to say, 'We're
starting a fund, we're putting
in X; how much are you - the
Japanese, Europeans and Gulf
states - going to pay?'"
The U.S. position is still un-
clear. Secretary of State War-
ren Christopher recently told
America's National Public Ra-
Symbol
Name
Exchange
SCIXF
Scitex
NASDAQ
5
25.50
5
24.88
-$0.62
ECILF
ECI Telecom
NASDAQ
5
49.00
5
52.88
+s3.88
TEVIY
Teva Pharm
NASDAQ
5
32.00
5
32.75
+'0.75
IEC
PEC Israel
NYSE
'33.88
'31.88
-$2.00
ELBTF
Elbit Computers
NASDAQ
'43.75
5
40.00
+53.75
ELT
Elscint LTD
NYSE
5.88
$5.50
-$0.38
ELRNF
Elron Electronics
NASDAQ
'21.25
'19.25
-52.00
TAD
Tadiran
NYSE
5
35.13
5
35.13
CMVT
Comverse
NASDAQ
5
13.75
5
12.75
-$1.00
LANTF
Lannet Data
NASDAQ
5
14.00
5
13.00
-$1.00
Sept. 10 Sept. 17
5
Change
5
0.00
Source: Allen °lender, Prudential Securities,
West Moo' nfield.