NEW YORK (Aug. 13)
Senator Jacob K. Javits (R.N.Y.) expressed his opposition to the recent letter sent by Otto N. Miller, chairman of the board of Standard Oil of California, to the corporation’s stockholders which urged that the U.S. favor the Arab nations. In a letter to Lawrence Phillips, president of Phillips-Van Heusen Corp. of New York, Javits said that such a policy in the Middle East “would be much more likely to lead to war than peace in the Middle East.”
Javits stated that “It is neither desirable nor necessary for our country to reverse its position of friendship with both Israel and the Arab states nor to adopt a new posture of discriminatory support for the Arab states in their conflict with Israel.” To do so, he said, “would only be to abandon and extinguish Israel, the one effective example in the Middle East of successful development and democracy.” Javits suggested that the SOCAL letter, by proposing that the U.S. give up a sound policy in response to the energy crisis, was raising the issue of “oil coercion.”
Meanwhile, Secretary of State of California, Edmund G. Brown Jr., urged SOCAL to reverse its pro-Arab position. In a letter to Miller, Brown said it appears as though the company is attempting to “curry favor with the oil producing states at the expense of Israel.” Brown warned that SOCAL’s position “raises the specter of an American economic giant tailoring its corporate policy and exercising its domestic influence to achieve selfish advantage in the complex Middle East situation.”
The remains of Sir Moses Montefiore will be reburied in Jerusalem in 1975, 90 years after his death. His present grave is in Ramsgate, Britain.
The following quotations from the Tel Aviv Stock Exchange are provided to the Jewish Telegraphic Agency by Leumi Securities, 18 E. 48 St. New York, N.Y. 10017. This is a selected list of the most active stocks. Closing Prices 8/6 8/13
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