Your Home
or Office

custom
shirts by
maribin

Ministry Seeks
Foreign Money

Custom Shirts & Accessories
At Discounted Prices

The Transport Ministry is seek-
ing foreign investors to finance
an Eilat bypass highway, run-
ning from the Egyptian to the
Jordanian border. The issue of
the road was to be among those
discussed at the regional eco-
nomic development group, which
convened in Amman.
The meeting, which included
representatives of Israel, Egypt,
Jordan and the Palestinian Au-
thority, is being devoted to the
subject of transportation projects.
The ministry said if financing
is found, the work on the Eilat
bypass road, which would go
from Ein Netafim near the
Egyptian border to the perma-
nent Arava border crossing,
could begin within a few months.

Men's Fashion
Coordinator &
Shirt Designer
For 20 Years

The
Comparison
Shopper
buys at

bank

"We create solutions."e

BERKLEY
Todd Ziegler
(810) 546-2590
BIRMINGHAM
Norm Lining
(810) 646-8787

916 N. Main
Royal Oak
(N. of 11 Mile Rd.)

545-3600

T
A
X

Call Today And
Ask About Our IRA
Investments!

&trust

HARPER
Furniture

Currency Reserves
Reach New High

Foreign currency reserves
reached a new record high of
$9.626 billion last month, as
speculators continued to take ad-
vantage of high shekel interest
rates, the Bank of Israel said.
Although the central bank has
cut interest rates by three per-
centage points since the begin-
ning of March, real interest rates
have remained high, based on
the low consumer price indexes
since the beginning of the year.
The reserves rose by $113 mil-
lion in May, as the private sec-
tor sold its foreign currency
holdings in order to cash in on
the high interest rates.
The increase in reserves was
moderated last month by gov-
ernment payments abroad. To-
tal foreign currency trading was
$4.58 billion last month.
The basket of currencies rose
1.31 percent against the shekel
in May, an annual rise of 11.47
percent since the beginning of
the year.
Similarly, the dollar gained
1.49 percent against the shekel
last month, dropping at an an-
nual rate of 1.04 percent since
the beginning of the year. At the
end of last month, the currency
basket exchange rate stood 0.49
percent below the "crawling
peg's" exchange rate mechanism
midpoint.
Meanwhile, the state budget
had a NIS 81 million surplus last
month. Expenditures were MS
8 billion, while revenues totaled
NIS 8.1 billion.
The government's net bor-
rowing reached NIS 63 million.
Since the beginning of the
year, the government accumu-
lated a budget deficit of NIS 308
million. The Treasury raised MS
524 million and its income from
the sale of government com-
panies totaled NIS 1.85

Staling

9C0-123)

SOUTHFIELD
Robert Chechalc
(810) 355-9831
WEST BLOOMFIELD
Greg Kane
(810) 855-6644

SIMPLE INTEREST AT MATURITY ONLY. ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF JUNE 16, 1995. RATES SUBJECT TO CHANGE WITHOUT NOTICE. - PENALTY FOR EARLY WITHDRAWAL
'S2500 MINIMUM BALANCE REQUIRED. STATEMENT FEES MAY REDUCE EARNINGS IF BALANCE IS NOT MAINTAINED.

STOCKS TAX-FREE BONDS MUTUAL - FUNDS

F,

First of Michigan
Corporation

X

M
P

Members New York Stock Exchange, Irk

FoM

Herman Schwartz

6230 Orchard Lake Road, Suite 230
West Bloomfield, MI 48322

S

A

INVESTMENTS

Senior Vice President - Investments

R

REWARD YOURSELF.

(810) 855-2100
1-800-654-1443

1,12,f.S .: •

A
L

P
L
A

••

•

"N

LEASE FOR $ 1699 A MONTH*

N
G

S
TAX DEFERRED ANNUITIES IRA's MONEY MANAGEMENT

For more information, contact Brenda Massey

is Your Financial House In Order??

To find out
call

40475 Ann Arbor Road, Plymouth Michigan 48170

PHASE FOUR

ROLLS

(313) 453-7500

Certified Financial Planning Professionals

ROYCE

(810) 559-6980

JOEL LEVI, CFP

•Oftered to qualified lessees by Primus Automotive Financial Services, Inc. through participating Rolls-Royce/Bentley dealers. Subject to
availability. Price based on 36-month closed-end lease for a 1995 Rolls-Royce Silver Dawn sedan excluding optional equipment and special
features (5149,900 MSRP), less 7% required dealer contribution, which could affect final negotiated transaction. Requires 514,990 down
payment, 51699 security deposit, and first monthly lease payment at lease inception, for a total of 518,388 due at signing. Total of monthly
payments: 561,164. Lessee responsible for license, registration, title, taxes, insurance and maintenance. Option to purchase at end of lease
for 576,449. If vehicle is not purchased. lessee is responsible for excess mileage charge of 5.50 per mile over 30,000 miles and for damage
and excess wear. Must take delivery by June 30, 1995. Other conditions and lees may apply - , see your dealer for details. © Rolls-Royce
Motor Cars Inc., 1995. The name 'Silver Dawn' is a trademark. and the name 'Rolls-Royce' and the badges and radiator grille' are registered
trademarks.

TRISH WELLMAN, CFP

17117 West 9 Mile Road, Southfield, MI 48075

Phase Four Advisory, Registered investment Advisor

Securities offered through Vestax Securities Corporation, Member, NASD & SIPC,
1931 Georgetown, Hudson, OH 44236 (216) 650-1660

011M11111• 111115 •11111 •1111 MMIIIP1111101•21•11111MIIIMIIMMIIIIIIMENINEVII 2161 14,

I

1

I
I

I
I

pisktop
n
namics

•Flyers
•Newsletters
•Brochures
•Calligraphy Envelopes
3or the most effective use
•Invitations
of your dollar, we provide
•Promotional Material
professional desktop
'Typesetting
publishing service at better
•Graphic Design
than competitive pricing
•Secretarial Service

Ilr%\ Mil

61 0

Mercedes Benz

I
I
I
I

I
I

• 17 Years Experience With Mercedes Benz

•
•
•
•
•
•

se

PAUL MILGRIM

The Best in Personalized Service
The Best Price with No Hassle
No High Pressure - Only STRAIGHT TALK!
Pick-up & Delivery with a Loaner Car
From "C" Class to "S" Class - Whatever You Desire!
Lease or Buy - New or Used

LC)

CD
CD

LLJ

•-t WOOD MOTORS

Gratiot at 8 Mile

(313) 245-0619 or 3/2-2600

43

