6_THE JEWISH NEWS

Friday, October 12, 1951

Congress Women to Meet
Election Day Candidates

Center Slates Holiday Hop
The 66th Holiday Hop will be
held at 9 p.m., Oct. 28, at the
Aaron Deroy Memorial Building
LAWRENCE H. JONES AUX- it was announced by the Young
ILIARY will meet at 12:30 p.m., Adult department of the Jewish
Wednesday, at the home of Center.
Goldie Israel, 18930 Littlefield.
The forthcoming cabaret and
CARD OF THANKS
donor luncheon will be dis-
The family of the late Selig
cussed.
Pomerantz wishes to thank its
*
*
relatives and friends for the
GINSBURG - ROS E N B E R G many expressions of sympathy
AUXILIARY will meet at 8:30 expressed during its recent be-
p.m., Oct. 16, at the Memorial reavement.
Home. Plans for a Hallowe'en
hard times party with the Post
Best Wishes for A Happy and
will be formulated. Hostess will
Prosperous
New Year to Our
be Mrs. Mildred Bronstein and
Patrons.
Mrs. Monia Salinger.

W v

Mrs. Harold Nelson, divisional
vice-president of the commission
on law and social action an-
nounces • that on Wednesday at
1 p.m., at the Art Institute, the
Detroit Women's Division of the
American Jewish Congress will
hold its annual candidates' meet-
ing.
The following candidates for
the Nov. 7 election have ac-
cepted, to date: Mary' V. Beck,
Eugene Van Antwerp, Del A.
Smith, Edward Connor, James H.
Garlick, Fred A. Castator, Lola
Jeffries Hanavan, Charles N.
William Penn fostered free-
Youngblood, Thomas F. McNa- dom of the press in • Phila-
Mara.
delphia.

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Marty's Delicatessen

1429 Broadway

WO. 2-9023

•.• ......... • • • • •

These securities, though registered, have not been approved or disapproved by the Securities
and Exchange Commission, which does not pass on the merits of any registered securities.

Further information, particularly financial information, is contained in the Reg-
istration Statement filed with the Commission and in a more complete Prospectus
which must be furnished to each purchaser and is obtainable from the undersigned.

When Americans invest in big corporations, they are
impressed—and rightly so—if a company has survived
for 50, 60 or 100 years.

But in the new State of Israel, there is a company of
people whose history goes back over 5,000 years!

Consider the teat civilizations which have risen during
those 5,000 years and are now dust. The Egyptian, the
Babylonian, the Persian, the Ancient Greeks, the Roman
Empire and others. The people of Israel have survived
them all—as they have survived war, homelessness, an-
nihilation and tyrants.

Therefore, it is an event of deepest meaning to all
Americans that the world's newest democracy—the State
of Israel—is launching its first Bond Issue.

This issue totals $500,000,000 and marks the initial
effort of democratic Israel to provide, during the next
years, a place to work and a place to live in freedom
for 600,000 new arrivals—the same kind of people whose
predecessors in Israel have proven their will to survive
and build.

Consider the concrete achievements behind these Bonds
of the State of Israel:

In an incredibly short space of time, these Israelis have
not only built a vital modern industrial plant and wrung
an agricultural land from the ancient desert, but thay
have also taken unto their bosom 600,000 homeless breth-
ren—and transmuted thest immigrants into productive,
happy people with stars in their eyes and their eyes on
the future.

There are plants and products and farms and ships and
commerce to dramatize the modern miracle of Israel

But of greater import to those Americans who place
proper value on the power of the spirit, is the past history
of the children of Israel and their unbreakable will to

survive.

Think of the historic element of character behind these
3%% interest-bearing Bonds even while you scrutinize
the State of Israel's modern record of solid achievement.

These Bonds are an investment for all Americans who
believe in the dignity of the human spirit as the essence
of democracy.

Orders for Bonds may- be placed et, end Prospectuses obtained from:

American Financial and Development Corp. for Israel

120 Broadway, New York 5, New York

STATE OF

Nose'

by Micbelanse$0

ISRAEL

1=1 i=3=1

BONDS

DAVID STOTT BLDG., DETROIT

STATE OF ISRAEL $500,000,000 INDEPENDENCE BOND ISSUE

two types of bonds ore offered at par as follows:

(a) Interest Bearing Bonds Denominated as
Fifteen Year 31/2% Dollar Coupon Bonds. Interest payable May I and Nov. 1

Denominations: $500 • $1,000 • $2,500 • $5,000 • $10,000 • $100,000

(b) Capital Appreciation Bonds Denominated as

Twelve Year Dollar Savings Bonds. Maturity Value: 150% of h=ue amount

Denominations: $50•$100•$250•$500•$1,000* $2,500 • $5,000 • $10,000

The State of Israel $500,000,000 Bond Issue is intended to
promote the economic development of the State. The pro-
ceeds of the Bond Issue are to be used for the purchase of
machinery, raw materials, equipment and other items de-
signed to increase the country's productive facilities so that
it may earn and save foreign currency. Of the total amount,
$205,000,000 is to be allocated for investment in the fields
of industry and power. The sum of $130,000,000 has been
designated for agricultural projects; $40,000,000 for the
development of harbors, shipping and railroads; $45,000,000
for trade and services including the development of the
tourist industry; and $30,000,000 for the establishment of
a government mortgage bank. for housing.
The balance, after payment of the expenses of the issue,
is to serve as a reserve for unanticipated projects or for
increased expenditures for the designated projects.

This is

The Government's economic development program in-
volves a total projected expenditure of $1,500,000,000, of
which $500,000,000 is to be provided by Israel and other
countries, and the balance is to be obtained in the United
States. The $500,000,000 State of Israel Bond Issue is the
largest single source of funds for this program.
With immigration proceeding at the rate of 200,000 a
year, Israel requires capital imports to meet the large in-
vestment necessary to create permanent employment oppor-
tunities and housing for the newcomers. A balanced and
mature economy will as a rule_ produce enough to cover the
consumptive needs of its population and to provide for
some further investment to increase productivity. But un-
der the best conditions, current production cannot begin to
supply the huge capital needs of a population that is in-
creasing at the enormous rate experienced by Israel. Pal-
estine and Israel, therefore, have always had an adverse
trade balance—like many young countries facing immigra-
tion and development tasks, including the United States,
Australia and New Zealand. As immigration increased, so
did the adverse trade balance. The import surplus served to
meet the investment needs of the economy. For 1949 re-
ceipts on current account were (expressed in Israel Pounds,
LL.) I.L. 20,600,000 and payments, I.L. 94,100,000. For 1950
receipts• on current account were I.L. 23,800,000 and pay-
ments, I.L. 113,400,000.
It is one of the major purposes of the Bond Issue to ine-

prove Israel's balance of trade through the establishment
of new.industrial and agricultural enterprises and through
the expansion of production for export as well as for home
consumption.
As of December 31, 1950, the funded debt was I.L. 114,-
200,000 and the floating debt, I.L. 1,300,000. The figures do
not include any Treasury Bills, because of their relationship
to the Special Defense Budget which has not been disclosed
for security reasons.
Israel has never at any time defaulted upon the payment
of principal or interest on any debt.
The budgets of the Government reflect the objectives of
the State of Israel to provide for the immigration and ab-
sorption of a large number of. Jews. From May 15, 1948 to
March 31, 1949, receipts were LL. 28,885,000 and expendi-
tures, I.L. 27,529,000. From April 1, -1949 to March 31, 1950,
receipts were I.L. 92,876,000 and expenditures I.L. 93,800,000,
From April 1, 1950 to January 31, 1951, receipts were I.L.
113,473,000 and expenditures I.L. 112,087,000. These figures
do not include Special Defense Budget expenditures or re-
ceipts from internal loans financing same.
The American Financial and Development Corporation for
Israel with headquarters at 129 Broadway, New York 5,
New York, is the principal ,underwriter for the State of
Israel Bond Issue. The commissions or discounts are not Ica
exceed 33i%.

not n prospectus or on offer to sell or a solicitation of offers to buy Mese securities. The offering Is made only by the Prospectu&,