*----------------------------------------------------------*
|                                                          |
| x   x x x   x   x  x  xx  xxx xxx  xxx                   |
| xx xx x xx xx   xx x x  x  x  x   x       Issue #16      |
| x x x x x x x   x xx x  x  x  xx   xxx                   |
| x   x x x   x   x  x x  x  x  x       x   10/85          |
| x   x x x   x   x  x  xx   x  xxx  xxx                   |
|                                                          |
|----------------------------------------------------------|
|    Newspaper of the Maoist Internationalist Movement     |
*----------------------------------------------------------*


   
   U.S. CORPORATE PULLOUT WOULD BE EFFECTIVELY TOTAL
   According to Burroughs President Paul G. Sterns, if U.S. 
corporations "pack our bags and get out of there [S. Africa]" 
"I think we'll just fuel it. You can make the assumption that 
the other international companies will stay out. That's got 
to fuel a tremendous problem, and maybe even exacerbate 
closing down schools, strikes, really setting them back." 
(Detroit News, 9/21/85, pp. 1, 6a) Previously, anti-
divestiture proponents such as Harvard President Derek Bok 
argued that multinational corporations that do not operate in 
South Africa would fill in the gap left by a U.S. pullout.
   
   DIVESTMENT STEAMROLLER
   Columbia University's Board of Trustees voted to withdraw 
its $39 million from companies operating in S. Africa. The 
move followed especially militant student action last spring.
   The U. of Michigan also divested another $4.5 million from 
S. Africa for a total of $50 million divested. Only $500,000 
is left in the U. of Michigan S.Africa related portfolio.
   The U. of Wisconsin divested $9 million.
   The State University of New York divested $12.5 million.
   Michigan State University divested $8 million.
   
   BRITISH BANKS CUTTING BACK IN S. AFRICA
   Barclays Bank and Standard Chartered cut their stakes in 
subsidiary banks in S. Africa from 50 to 40%. Britain's 
investment in S. Africa is estimated at $15 billion, 7% of 
Britain's overseas investment. (NYTimes, 8/30/85)
   
   U.S. BANKS CUTTING OUT TOO
   Chase Manhattan ended all loans to S. Africa in late July. 
North Carolina National Bank cut its loans from $217 million 
in 1983 to $101 million in June. Bank of Boston announced the 
end of all loans to S. Africa in March. The President of the 
Bank of Boston Ira Stapanian, recently divulged that part of 
the reason for the pullout was pressure at home on the 
banking business. First Bank System of Minneapolis pulled out 
too with past loans of $39 million. (NYT, 9/16/85, a1)
   
   RULING CLASS HUDDLES FOR S. AFRICA POLICY
   Twenty corporate executives met with Reagan in the third 
week of September to discuss their interests in S. Africa. 
They argued that U.S. businesses contribute to social change 
in S. Africa. (Detroit News, 9/21/85, p. 1, 6a) The real 
government goes into action the same way the heads of the 
mafia get together when the going gets tough.
   
   BUY A PIECE OF THE CONTRAS
   "Freedom bonds" can be purchased from the contras. Their 
payoff is shares in the companies that the contras plan to 
denationalize if they overthrow the Sandinista government. 
(Reason, June/July, 1985, p. 44) So who owns the contras? You 
can bet Jeanne Kirkpatrick is on the board of directors.
   
   S. AFRICA UPDATE
   The death toll of the past year is over 700. 3,000 have 
been detained in the state of emergency. S. Africa raided 
Angola with 500 troops and admitted to continuing to 
destabilize Mozambique. The front-line state called for 
economic sanctions against S. Africa regardless of the 
economic effects on themselves. The front-line states are 
largely dependent on the European style S. African economy. 
(NYT, 9/22/85, E3)