The Observer/Fred Dobie the Largest Foreign Investor in Southern Life Assurance Co

‘Apartheid Crisis’ - page 7 the independent student newspaper serving Notre Dame and Saint Mary’s Peres says Bank’s divestment he’ll disclose Israel’s role marks biggest yet in arms deals by foreign business Associated Press Associated Press friends of South Africa," said JERUSALEM - Foreign Min local managing director Chris ister Shimon Peres tried Mon JOHANNESBURG, South Ball. “They’re not doing this to day to defuse pressure on the Africa - Barclays Bank of Brit punish South Africa. They’re Israeli government to disclose ain, citing financial and politi doing it because they’re under its role in shipping U.S. arms cal pressure, said Monday it political pressure which is con to Iran, promising to report to sold its last shares in its South verting into financial pres a watchdog subcommittee in African affiliate for about $230 sure." Parliament. million. It was the biggest di In London, Barclays spokes He flatly refused, however, vestment yet by a foreign com man Geoffrey Kelly said the to give information about any pany. sale was made chiefly because Iranian arms deal when he ap A consortium of South of the affiliate’s poor economic peared before the Foreign Af African companies signed the performance and unfavorable fairs and Security Committee, deal last week to buy Barclays’ prospects for the South African an unwieldy, 26-member body shares in Barclays National economy. where deliberations are rarely Bank of South Africa, the But he told The Associated kept secret. country’s largest commercial Press, “I think certainly poli He promised instead to brief bank. tical factors come into it. the six member Subcommittee “ The Barclays PLC sale of “The lack of progress toward on Armed Services. shares must have an impact on ending apartheid has itself had The development came amid the South African economy. It impact on the South African concern that an angry U.S. is certainly not a perilous mat economy,” he said. “It is also Congress could make Israel a ter, but it is cause for serious true that the threat to our busi scapegoat for the U.S. Admin concern in terms of psycholog ness in the U.K. and the U.S. is istration’s sales. ical impact,’’ Basil Hersov, one of the factors, but not the chairman of Barclays Nation prime factor." The political uproar in the al, told a news conference. In Britain, anti-apartheid United States over the arms The London-based Barclays groups have protested outside shipments has just begun to Bank PLC once owned 100 per Barclays’ branches to push for spread to Israel, where many cent of the local affiliate but divestment. Israelis accept that arms deals since 1973 had reduced its share “Neither South Africa’s bal are not a subject for public to 40.4 percent. Its final pullout ance of payments nor its debate. The full 120-member is the first by a major British foreign exchange reserves will Knesset, or parliament, sched company but follows be affected by the transac uled a debate for Tuesday on withdrawal by numerous tion," said Gerhard de Kock, the issue. American companies, most governor of South Africa’s “There has never arisen a recently General Motors, Reserve Bank. He said the sale more bitter enemy of the Kodak and IBM. “is not expected to exert any Jewish people and, in my The value of the divestment adverse effect nationally or in opinion, of human civilization, and number of employees in ternationally on the South than the Khomeini regime,’’ volved - 26,000 - made it the African banking system." said Abba Eban, a former largest so far. However, offi However, Hersov foreign minister who presides cials of the local affiliate said said,“Clearly, what we have over the Knesset committee. the existing staff and opera here is a major disinvestment He referred to Ayatollah tions will be maintained. and ... disinvestment does not Khomeini, Iran’s revolutionary South African bankers, progress change." patriarch. speaking on condition of The buyers are led by Anglo President Reagan has said anonymity, said they feared American Corp., the country’s he authorized a third country, Barclays’ withdrawal would largest mining company, and reportedly Israel, to ship arms encourage pullouts by other two of its affiliates, De Beers to Iran to try to form links with British companies. Britain is Consolidated Mines Ltd. and Iranian moderates. Thankful exit The Observer/Fred Dobie the largest foreign investor in Southern Life Assurance Co. The Jerusalem Post quoted Sophomore Bill Schratz leads a group of diligent students out of South Africa, with $8.5 billion, Barclays gave the sale price unidentified Israeli defense of- the library after putting in those last hours before Thanksgiving. compared to about $1.3 billion as 527 million rand, or $234 mil Break commences at noon on Wednesday . and judging from in American investments. lion at Monday’s exchange see ISRAEL, page 4 their expressions, that’s not a moment too soon for these students. “Barclays are longstanding rate. Band will take no further action on Guards Happy until Guard members decide on an appeal Thanksgiving By CINDY RAUCKHORST request an appeal. quest an investigation. disregard of band policy as Senior Staff Reporter “So it’s a dead issue as far “We’re still figuring things regards alcohol consumption in as we’re concerned,” added out right now,” he said. uniform at the Penn State ND Band officials said Monday Band President Tom McCabe. Senior Guard member Pat game," according to an an they won’t take further action Irish Guard Captain John Kruczek said, however, that he nouncement posted on the band on last week’s dismissal of the Kennedy said the group “is will not appeal the decision. bulletin board last Monday. Irish Guard until Guard mem anxious to get things re “For me as a senior, there’s The dismissal concerns this bers officially appeal the deci solved,” byt that Guard nothing to be gained by going year’s Irish Guard only, not the sion. members will wait until after through the appeals process," Irish Guard as an institution, “ It is the responsibility of Thanksgiving to make any of Kruczek said. according to James Phillips, This is the last issue of The any dismissed band m em ber to ficial decisions. “If we were going to a bowl acting band director. Observer before the Thanks initiate the appeals process," Kennedy said he expects game or something, that might Phillips said the Irish Guard giving Break. The staff of said Jim Lecinski, band vice- several members to appeal the be a different case, but basi will continue as a Notre Dame The Observer wish you a Happy Thanksgiving and a president. “That’s just stan dismissal decision. cally this year’s duties are tradition in future years. safe holiday. The Observer dard band policy.” However, he added that the Junior Guard member Paul finished already,” he added. will resume publication on Guard’s role in relation to the Lecinski said none of the Reuvers would not say whether The Irish Guard was dis the day following the vaca Irish Guard members has ap or not he and other non missed last Monday “because tion, Tuesday, Dec. 1. proached the band officers to graduating members would re of severe misconduct and total sec GUARD, page 3 The Observer Tuesday, November 25, 1986 - page 2 In Brief All-nighters during exams “The Transcendental Ego in Philosophy and Literature: are often necessary evils Kant and Emerson” will be the topic of a lecture by Pro fessor Gudrun Grabber of the University of Innsbruck, Austria, tonight at 8 in the Memorial Library Lounge. The lecture is sponsored by the Program of Liberal Studies. Last night I pulled an all-nighter. -The Observer An all-nighter is something you have to pull. You don’t have it, make it or do it. It’s a last- Tripp minute attempt to raise your dismal grades Concert band auditions will be held Monday through from the morass of scholarly ruin, the finest Baltz Wednesday next week. Interested students should sign up piece of art in an academic renaissance. News Editor in the band office in Washington Hall. For more informa Anyway, this study-oriented Hail Mary-play tion, call 239-7136. -The Observer I was calling was in one of my most difficult classes. One of those courses with a name like "Literary and Economic Relations Between “Continuity” and “student representation” on the Judi Europe and America and their Theological cial Review Board were urged by Maria Cintron, student Reverberations in 20th Century and Victorian judicial coordinator at Monday night’s Student Senate Social Contexts.” meeting. Cintron suggested that the Senate “look into the I was gearing myself up for next day’s mid issue” but a quorum was not present. The University of term while at dinner in the South Dining Hall. Wisconsin “invasion” of Notre Dame also was discussed. I decided not to eat too much, for fear I may be forced to consume an entire semester’s worth of notes later in the evening. I began the all-nighter by locking myself in Of Interest my room, with class notes, books, caffeine pills and other paraphenalia to help me on my late- night mission. I decided that by reading every A phone fraud caper at the University of Florida has other word of the massive tomes that lay before been taken off the hook. Police are taking testimony in a me, I could retain more than enough of the case involving 222 UF students and more than $90,000 material I needed.

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