Another big bank barred loans to South Africa

Morgan Guaranty Trust, protesting South Africa’s apartheid government, said it will no longer make new loans to that nation’s government or its state-owned companies. Morgan follows a number of other major lenders who have announced recently that they will no longer do business with the minority white government. Morgan’s decision apparently also was spurred by a recent New York City ordinance barring city contracts with firms who have dealings with the South African government.