of prophets and profits

(Vol. 8 No. 2)
by California-Nevada Interfaith Committee on Corporate Responsibility
with John E. Lind
San Francisco, California, United States
September 1985
12 pages
Type: Newsletter
Coverage in Africa: South Africa
Coverage outside Africa: United States, Germany, Switzerland, United Kingdom
Language: English
Contents: THE PRESSURES ON SOUTH AFRICA FOR CHANGE • CHANGE, CHANGING, CHANGED. MOVE, MOVING, MOVED • CROCKER BANK - HAS THE LIGHT GONE OUT? • SUPPLEMENT SHORT-TERM LENDING: THE ACHILLES' HEEL OF SOUTH AFRICA • U.S. BANK LENDING IN SOUTH AFRICA THE MAIN PRESSURE POINT • Table I: South African lending by California Banks • BARCLAYS - FACT SHEET • UNITED STATES • MORE ABOUT THE BANK THAT KNOWS MORE ABOUT THE WORLD • U.S. SIBLINGS OF BARCLAYS NATIONAL CORPORATION OF SOUTH AFRICA • DIVESTMENT OF CORPORATE STOCKS AND DISINVESTMENT OF CORPORATIONS FROM SOUTH AFRICA • REPORT ON THE FAMILIES OF THE DISAPPEARED IN GUATEMALA • Chase Manhattan Bank refused to roll over short-term debt because of the political risk due to the current rioting in South Africa, and the rand plunged relative to the dollar. South African authorities shut down their financial markets to prevent currency flight and the further plunge of the rand. CN-ICCR maintains that lending by U.S. banks in South Africa is the most important immediate pressure point on the South African economy. The newsletter mentions apartheid, the inflated price of gold, Crocker National Bank, the World debt crisis, Midland Plc., Security Pacific, Gerhard de Kock, Reserve Bank of South Africa, long-term debt, U.S. Steel, disinvestment, Nedbank, Standard Bank, South African parastatals, borrowing short- and lending long-term, U.S. banking authorities, the Electricity Supply Commission, Peter S. Magnani, Bank of America, letters of credit, trade, church investors, Bishop Desmond Tutu, the Nobel Peace Prize, Ford, Anglo American, Philbro-Salomon, BBDO International, Apple Computer, South African Council of Churches (SACC), Presbyterian Church U.S.A., United Church of Christ, Roman Catholic congregations, American Chamber of Commerce in South Africa, City of New York, Citibank, Morgan, Burroughs, Chevron, Control Data, Fluor, Ford Motor, General Electric, General Motors (GM), International Business Machines (IBM), Mobil, Newmont Mining, Texaco, Bank America, First Interstate, Wells Fargo, Crocker (Midland), Manufacturers Hanover, Bank of Canada, RepublicBank (TX), MCorp, Norwest, Harris Bancorp, Bank of Montreal, Union Bank of Switzerland, Swiss Banking Corporation, Dresdner Bank, Deutsche Bank, California bishops, and European Economic Community Code of Conduct for companies in South Africa.
Used by permission of John E. Lind, CANICCOR Research.
Collection: John Harrington’s South Africa Papers, Michigan State University Libraries Special Collections