Premier Film Showing at Annual
Home for Aged Meeting Tuesday
Premier showing of a film,
elections and reports will be the
highlights of the Jewish Home
for Aged's 45th annual meeting,
to which all members of the
community are invited, at 8 p. m.
Tuesday, Oct. 30, at 11501 Pe-
toskey.
Covering all aspects of the
resident's life at the Home—rec-
reational, occupational therapy,
medical, nursing, religious, so-
cial, cultural—the film will be
narrated by Dr. .Benjamin D.
Welling and Gus Newman, vice-
president.
Following the election of 12
members to the board of direc-
tors, standing committee chair-
men will make their annual re-
ports and serve as a "panel of
experts" to answer any ques-
tions from the floor regarding
operation of the Jewish Home
for Aged.
With Myron A. Keys, presi-
dent of the Home, serving as
chairman of the panel, other
members will include Sidney J.
Allen, building; Arthur A.
Fleischman, house; Edward
Fleischman, finance review; Ben
Kramer, public relations; New-
.
man, admissions; Dr. Welling,
recreational and occupational
therapy; Mrs. Samuel Zeldes and
Mrs. Daniel Marcus, ladies aux-
iliary; and Ira I. Sonnenblick,
executive director of the Home.
In connection with the annual
meeting, the Home will hold open
house all that week from Oct. 28
through Nov. 3. During the
same week, the main building
of the Detroit Public Library,
5201 Woodward, will display ar-
ticles made by the residents of
the Home in the hobby shop.
Similar articles will be on sale
at the Home.
THE JEWISH NEWS-7
SOLOMON FAMILY CLUB met
HARRISON WOOD, noted
news
story
Sunday at the Blondy residence commentator, will tell the
behind the current news at De-
on Roselawn. The next meeting troit Town Hall, Wednesday,
SADLER'S WELLS THEATER
will be at the home of the Dorf- Oct. 31, 11 a.m., in Fisher The-
BALLET will open a limited en-
ater.
mans, on Canterbury Rd.
gagement of four performances
at Masonic Auditorium on Oct.
27, 28, 29. Currently on a six-
month, 65-city tour of the United
States and Canada, the noted
British troupe is under the di-
rection of Dame Ninette de Va-
lois.
Friday, October 26, 1951
Thinking of a Ford?
FOR
Aesculapians to Hold Silver
Anniversary Dinnek-Dance
Aesculapian Pharmaceut ical
Association and the Ladies Aux-
iliary Will hold their silver an-
niversary dinner - dance at 7
p.m., Nov. 7, at Northwood Inn.
Chairmen of the banquet are
Mesdames Phillip Forman, liar- .
old Boardman,Henry Cohen and
Harry Dorfman. For reservations
call Harry Pernick, TY. 5-7440. A
joint meeting of the two groups
will be held Monday, at the Book
Cadillac- Hotel.
For the
Best Deal
in Town
See
sq. ft. of fine Furniture
e floor for your
• 10,000
All on on
ce
nvenien Courteous attention
a ersonal,
co
P
Same
me
3 Ways to Buy ... Day Sa
. 9
• . Budget
•
as Cosh.
SAM LIEBERMAN
At
Jerry Bielfield Co,
6845 MICHIGAN
4
Blks. West of Livernois
VI. 1-4400
Res. TO. 6-5347
STATE
OF
BOND
ISRAEL
$500,000,000 INDEPENDENCE
ISSUE
Two types of Bonds are offered at par
as follows:
,
(a) Interest Bearing Bonds Denominated or
Fifteen Year 3y2% Dollar Coupon Bonds. fn.'',
terest payable May 1 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 issue amount
Denominations: $50 • $100 • $250 • $500
$1,000 • $2,500 • $5,000 • $10,000
'These securities, though registered, have not been approved or disapproved by the Securities
find Exchange Commission, which does not pass on the merits of any registered securities.
31% interest plus
SOMETHING NO MONEY CAN BUY
The State of Israel Bonds now being offered are the most unusual securities in the history of the
world.
For by investing in these Bonds, you can expect to receive rare moral and spiritual rewards, as well as
financial ones. You can, in fact, look forward to a kind of gratification you do not expect in financial matters.
On the one hand, your money will be earning a substantial 3 3 % interest on Coupon Bonds. It will be,
invested in productive enterprises like the potash industry, chemical industry, textile industry—the
expansion of electric power—the irrigation of new farmlands.
But, most important, is what the result of all these investments will be. It will help build a vibrant
new life for an even greater number of those people who have worked, fought, and bled for their ideals.
It will help solidify a new nation which already has established itself as an important democratic
outpost in the Middle East. It will help create the bread of liberty and the wine of happiness for a.
people who know how to value them.
Judge Israel Bonds by their soundness as an investment—that is only common ea. But also,
remember the moral satisfaction they offer you—something no money can buy.
Further information, particularly financial information, is contained
in the Registration Statement flied with the Commission and in el
more complete Prospectus which must be furnished to each purr,
chaser and is obtainable from the undersigned.
Orders for Bonds may be plated at, and Prospectuses
obtained from,
American Financial and Development Corp. for Israel
120
STATE OF
S
B ROADWAY,
NEW YORK, N.Y.
RAE
113 .0N DS
Thls Is not a prospectus, or an olio/ to sell, or a solicitation of offers to buy tbese_sesuritles. The . offerins (s made only by the Prospectus.
DAVID STOTT BLDG,, DETROOT
The State of Israel $500,000,000 Bond Issue is
intended to promote the economic development
of the Stare. The proceeds of the Bond Issue are
to be used for the purchase of machinery, raw
materials, equipment and other items designed
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 allo-
cated 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 in-
dustry; 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 unantici.i
pated projects of for increased expenditures foe,
the designated projects.
The Government's economic development
program involves 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 pro-,
gram.
With immigration proceeding at the rate
of 200,000 a year, Israel requires capital imports
meet
the large investment necessary to create
to
permanent employment opportunities and hous-
ing 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 under the best conditions, cur-
rent production cannot begin to supply the huge
capital needs of a population that is increasing
at the enormous rate experienced by Israel. Pales-
tine and Israel, therefore, have always had an
adverse trade balance—like many young coun-
tries facing immigration 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 receipts on current account were (ex-'
pressed in Israel Pounds, I.L.) I.L. 20,600,000'
and payments, I.L. 94,100,000. For 1950 re- ,
ceipts on current account were I.L. 23,800.000
and payments, I.L. 113,400,000.
It is one of the major purposes of the Bond
Issue to improve Israel's balance of trade through
the establishment of new industrial and agricul-
tural enterprises and through the expansion of
production for export as well as for home con.;
sumpcion.
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 absorption of a large number
of Jews. From May 15, 1948 to March 31, 1949,
receipts were I.L. 28,885,000 and expenditures,
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 receipts from internal
loans financing same.
The American Financial and Development
Corporation for Israel with headquarters at 120
Broadway, New York 5, New York, is the prin-
cipal underwriter for the State of Israel Bond
Issue. The commissions or discounts are not to
exceed 31/2%.