Confidence warning in IOS Carving up the Fund of Funds

• FROM PAGE DNE 'peace-keeping' mission This is going to be the pattern of the 19/0s as tar as imperialism and the Stalinist bureaucracies are concerned.

If Nixon and the Kremlin have their way, Vietnam and the whole of Indo-China will be subjected to the. same operation.

In the interests of an imperialist - imposed 'peace' the struggle of the colonial peoples for national liberation and socialism is betrayed -with the full approval of the Soviet bureaucracy.

In favour British Stalinist thinking is completely in favour of this strategy, as is evident from Monday's 'Morning Star' headline, which reports the Zionist bombing raid without condemning it.

And if the 'Star' refuses to condemn the Zionist attacks on guerrilla bases today, then it will most certainly not oppose actions against them by any projected Soviet-US force in the future.

Blueprint

What the Stalinists and imperialists are trying to force through in the Middle East is blueprint for counterrevolution throughout the world-including Europe.

But defeat for the KremlinNixon deal in the Middle East will disrupt these plans.

That is why every socialist, trade unionist and Communist Party member must compel the entire labour movement to speak and act against this Stalinist betrayal of the Arab revolution and surrender of the Nasserites to Zionism. SUBSCRIBE NOW On eve of ER. conference Full subscription Two editions E10 a year (For any two days (Posted dally) OR you select) £2 10s for three E1 for three months months E4 a year Post to: Circulation Organizer, Workers Prose, 186a Clapham High Street, London, SWa. (Tel: 01-720-2000)

I would like to subscribe to Workers Press for - LATE NEws CRANE DEATHS Two men were killed and five other injured when part of a crane fell out of a building site in Bridgton, glasgow, yesterday. The crane's ballast end gave way. One man was crushed and an other fell 70 feet.

ANOTHER BUSINESSMAN JOINS GOVERNMENT Mr Leslie Watson, an executive director of Rio Tinto Zinc Pillar-one of the world's largest mining companies-and Deputy Chief of Angelsey Aluminium Ltd is to join the Board of Trade for two years to be Deputy Head of the Overseas Projects Group.

The • Group is concerned with British firm's business abroad.

Cornfeld claims that he already has over half the Cornfeld's plan to 'save' the what what was Its main component was a savings into buy equipment cinema venture. over the last three months.

counter-plan to salvage IOS. IOS Board. shareholder.

Registered as Post Office. Pl Press, 186a C Lonc Printed by Plo 180b Clapham A NEW STAGE in the struggle for the pickings left on the bones of Investors Overseas Services Ltd has been reached with the announcement by former chairman Mr Bernard Cornfeld that he intends to regain control of the company.

preference shareholdings tied up in 'proxy' votes and determine the exact state will have the necessary two-thirds majority at some affairs in IOS. point during the coming week.

rented by the existing board last May. share in the are in the ter withe me lions from which he was removed scheme to build an American 'cinema city' where film com›anies could lease sets and shares.

Cornfeld also claims promised loans from the Hyatt Corporation of Calitornia, who are also involved in the Few IOS shareholders and certainly no bankers will be impressed by this latest show of 'support'. Not one leading American or European banker has come forward with any concrete assistance for IOS Nor are these hard-faced gentlemen likely to be reassured by IOS chairman Sir Eric Wyndham White's Sir Eric also claims to have negotiated a loan of $15 million-from International Controls Corporation — which he claims is dependent on Cornfeld's not returning to the The real worth of this "support' is questionable, particularly in the light of the fact that a major IOS concern, International Investment Trust, is already a leading ICC TROOPS BREAK CEASEFIRE King Hussein Bridge, Jordan valley, Monday — Jordanian and Israeli troops twice exchanged fire yesterday across the Jordan river, a_Jordanian army officer, Lieutenant Fakhri Adib, said here today.

This was the first violation by regular forces of the 90day Middle-East ceasefire which came into force at midnight last Friday under the US peace initiative accepted by Egypt, Jordan and Israel.

Workhs 1 Street, d. (1U), London, worth, it is impossible nutual fund empire largest A measure of the confidence now existing in IOS's future can be judged from the advice given by Patrick Hutber, 'The their Sunday Telegraph's' City Los pite of vortiess paper editor, to all Dover Plan shareholders to immediately sell their holdings even if this means losses.

IOS's second leading mutual trust concern, Fund of Funds, now appears to be near breaking point.

Faced with a flood of demands for cash redemptions, its directors have announced that all liquid assets are to be frozen for at least two months, with the almost unsaleable 'assets' tied up in Arctic land-roughly half the worth of Fund of Funds -hived off into a separate concern at a later date.

Given its peculiar accounting techniques and the nature of its ties with many other financial concerns of doubtful Weekend Italy's pre