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April 20, 1979 - Image 27

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Publication:
Michigan Daily, 1979-04-20

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The Michigan Daily-Friday, April 20, 1979-Page 7

A2 maintains South
African investments
By ELISA ISAACSON floor.
In East Lansing, sentiment for THE WASHTENAW County Coalition
divesting South African holdings was Against Apartheid (WCCAA), the group
first reflected in their City Council's most vocal in encouraging divestment
policy initiative which the Michigan of University support holdings in South
State University (MSU) Regents Africa, has not addressed the city on
echoed with similar.action. Ann Arbor's the matter. Heidi Gottfried,
lawmakers have not pioneered the spokeswoman for the WCCAA, said the
divestiture path, however, and they do group plans to work for city divestment
not appear likely to do so in the near at some point, but that it would rather
future. concentrate its energies on the Univer-
Mayor Louis Belcher readily admits sity at present.
he does not know enough about the issue According to Assistant City Ad-
to comment on it in detail, and City ministrator Patrick Kenney, the city
Council overturned two divestment currently holds six month certificates
proposals last year. of deposit, worth hundreds of thousands
IN MARCH 1978, only four days after of dollars each, in Ann Arbor Bank and
the University Regents voted not to Trust, Ann Arbor Trust, Michigan
divest from corporations doing National Bank, Huron Valley National
business in South Africa, City Council Bank, National Bank and Trust,
defeated Councilman Ken Latta's (D- Michigan National Bank, First
First Ward-divestment porposal. Latta National Bank of Chicago, Irving Trust,
proposed amendments to the new city and Bank of America.
investment policy requiring Ann Arbor According to a Corporate Data Ex-
to withdraw support from banks change, Inc. handbook, three of these
making loans to South Africa and from banks were involved in South African
corporations doing business in that financing from at least 1972 through
country. mid-1978. The three are First National
When his proposals were rejected Bank of Chicago, Irving Trust, and
Latta declared he would reintroduce Bank of America.
them-at a later date. "That probably The mayor explained he was unsure
won't be until after the election," he as to what constituted investments in
said at the time. "It depends on the South Africa. "Every bank does
composition of the Council." business with the Federal Reserve,"
The city election that year, however, Belcher said. "The Federal Reserve
featured the inauguration of a Council does business in South Africa. Does this
even more Republican-dominated than mean every bank does business in
the previous one which rejected Latta's South Africa? I don't know."
amendments. This year's election Latta pointed out that, while the city
produced a partisan replica of last cannot own stocks in corporations, Ann
year's Council, and Latta has said he Arbor does business with firms that
will not reintroduce the divestment deal with South Africa. One of those
proposal until he feels they have a good corporations, Latta said, is the Ford
chance of passing. Therefore, it will Motor Company, from whom the city is
probably be at least another year considering the purchase of an entire
before the issue returns to the Council police car fleet.
Intl. Center offers help
on foreign study, travel
By MITCH RUBENSTEIN FOR STUDENTS wishing to travel,
Thousands of students walk by the In- the center has information on student
ternational Center every day, just as identification cards, Youth Hostel car-
they walk by every other building on ds, and transportation discounts. The
campus. However, the International office also contains abundant materials
Center is no ordinary University on the background of particular
building. cultures, guidebooks, and notebooks
Located at 603 E. Madison St., the In- with helpful comments from students
ternational Center aims to help studen- who have travelled abroad.
ts survive in study programs abroad. For students who plan to work over-
Its counseling office provides infor- seas, the center provides material on
mation on traveling, working, and the types of jobs available, howto ob-
studying in every country outside of the tain them, and details on such possible
U.S. See CENTER, Page ]
ALFRED HITCHCOCK'S 1935
THE 39 STEPS
ROBERT DONAT and MADELEINE CARROLL in the comic thriller that still sets
the standard for fast pace. Donat, as a young Canadian in England, is the
victim of every circumstance imaginable by Hitchcock, including having a
stranger stabbed in his apartment, stumbling to the podium of a political
rally to escape the police, and being hand-cuffed for the night to a woman
who can't stand him. Thank you Mr. Memory.
SHORTS: FOR THE ROAD-John Robertson (Multiple Documentation) &
READOUT-RobertZieball. (Stimuli on overload).
MARX BROTHERS DOUBLE FEATURE
SAT: DUCK SOUP (PLUS KRAZY KAT CARTOONS AT 7 & 10
A NIGHT AT THE OPERA (AT 8:30 ONLY)
* Look for CINEMA GUILD'S spring-summer schedule *
FIRST WEEKEND OF SHOWINGS:
(FRIDAY) MAY 4: Chaplin's LIMELIGHT
(SATURDAY) May 5: Bogart in THE MALTESE FALCON
(SUNDAY) MAY 6: MR.HULOT'S HOLIDAY
TONIGHT AT OLD ARCH. AUD.
CINEMA GUILD 7:W&9.. $1.50

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