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April 21, 1979 - Image 53

Resource type:
Text
Publication:
Michigan Daily, 1979-04-21

Disclaimer: Computer generated plain text may have errors. Read more about this.

The Michigan Daily-Saturday, April 21, 1979-Page 9
A2 retains S. African investments

By ELISA ISAACSON
In East Lansing, sentiment for
divesting South African holdings was
first reflected in their City Council's
policy initiative which the Michigan
State University (MSU) Regents
echoed with similar action. Ann Arbor's
lawmakers have not pioneered the
divestiture path, however, and they do
not appear likely to do so in the near
future.
Mayor Louis Belcher readily admits
he does not know enough about the issue
to comment on it in detail, and City
Council overturned two divestment
proposals last year.
IN MARCH 1978, only four days after
the University Regents voted not to
divest from corporations doing
business in South Africa, City Council
defeated Councilman Ken Latta's (D-
First Ward) divestment porposal. Latta
proposed amendments to the new city
investment policy requiring Ann Arbor
to withdraw support from banks
making loans to South Africa and from
corporations doing business in that
country.
Initial report
on Outreach
completed
(Cntned frm Page 3
compatibility to the projects," Frye
said. "We felt either the department
had to increase the amount of faculty
supervision or reduce the level of the
number of projects currently being of-
fered by Outreach. The second
possibility is more likely."
PROF. TONY MORRIS, chairman of
the departmetit's Undergraduate
Committee, would not comment on
details of the completed report, but said
a "number of options" are open to the
LSA Executive Committee.
Reinharz said the revision of
Outreach has come about not asa result
of deficiencies in the experiential struc-
ture of the program, but rather because
of the implications of undergraduate
supervision in the course.
INSTANT
CASH!
WE'RE PAYING
$1-$2 PER DISC
FOR YOUR ALBUMS
IN GOOD SHAPE.
RECORDS
OPEN MON.-SAT. 10-6

When his proposals were rejected
Latta declared he would reintroduce
them at a later date. "That probably
won't be until after the election," he
said at the time. "It depends on the
composition of the Council."
The city election that year, however,
featured the inauguration of a Council
even more Republican-dominated than
the previous one which rejected Latta's
amendments. This year's election
produced a partisan replica of last
year's Council, and Latta has said he
will not reintroduce the divestment
proposal until he feels they have a good
chance of passing. Therefore, it will
probably be at least another year
before the issue returns to the Council
floor.
THE WASHTENAW County Coalition
Against Apartheid (WCCAA), the group
most vocal in encouraging divestment
of University support holdings in South
Africa, has not addressed the city on
the matter. Heidi Gottfried,
spokeswoman for the WCCAA, said the
group plans to work for city divestment
at some point, but that it would rather
Daily Classifieds
Bring Results

concentrate its energies on the Univer-
sity at present.
According to Assistant City Ad-
ministrator Patrick Kenney, the city
currently holds six month certificates
of deposit, worth hundreds of thousands
of dollars each, in Ann Arbor Bank and
Trust, Ann Arbor Trust, Michigan
National Bank, Huron Valley National
Bank, National Bank and Trust,
Michigan National Bank, First
National Bank of Chicago, Irving Trust,
and Bank of America.
According to a Corporate Data Ex-
change, Inc. handbook, three of these
banks were involved in South African
financing from at least 1972 through
mid-1978. The three are First National

Bank of Chicago; Irving Trust, and
Bank of America.
The mayor explained he was unsure
as to what constituted investments in
South Africa. "Every bank does
business with the Federal Reserve,"
Belcher said. "The Federal Reserve
does business in South Africa. Does this
mean every bank does business in
South Africa? Idon't know."
Latta pointed out that, while the city
cannot own stocks in corporations, Ann
Arbor does business with firms that
deal with South Africa. One of those
corporations, Latta said, is the Ford
Motor Company, from whom the city is
considering the purchase of an entire
police car fleet.

Look Who's Fiftyi Lunch 11:30 to 1:15
Michigan League 1929-1979 Dinner 5:00 to 7:15
Dear League, celebrations are fine,
But I wonder if that's the best line; SNACK BAR
If we hadn't been told Lowei Level
That you're fifty years old Op en 7:15 AM to 4:00 PM
You could pass for, at most, 29.
. M.B. Send your League Limerick to:
TheMichigan Manager, Michigan League
227 South Ingalls
I 'e Next to Hill Auditorium You will receive 2 free dinner
Located in the heart of the campus, tickets if your limerick is used in
it is the heart of the campus ..". one o our ads.

for ~mhatever jungle you're in...
pants

209 S. STATE
769-7075

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