IFFY Ladies Auxiliaries to Hold
Fifth Annual Goodwill Luncheon
The fifth annual goodwill des-
sert 'luncheon sponsored by the
Iewish War Veterans Depart-
ment of Michigan Ladies Auxil-
iary • to promote unity and un-
derstanding between peoples of
faiths and creeds will be held
at 1 p. in., March 19, at the JWV
Memorial Home, Davison at Pe-
toskey.
Conducted tours of the build-
ing to display the memorial
rooms which contain the name
plaques of the World War II
dead and the mural painting
which symbolizes the hope for
peace, will follow the serving of
a dessert luncheon.
Mrs. Morris Adler will speak
on "Meeting in Fellowship."
Veteran and patriotic organi-
zations participating in the af-
fair are:
American Gold Star Mothers, American
Legion Auxiliary, American War Mothers,
THE JEWISH NEWS-7
Friday, March 7, 1952
Blue Star Mothers Inc.. DAV Auxiliary,
Grand Cootiette Club of Michigan, Ladies
of the GAR, Marine Corps League Auxil-
iary, Military Order of the Purple Heart
Auxiliary, Moms of America Inc.. VFW
Auxiliary, American Gold Star Sisters.
Detroit Federation of Women's Clubs,
Navy Mothers Club, AMVETS and Catho-
lic War Veterans.
Hostesses will be Mesdames Hilda Gold-
berg, Eva Feinstein, Rose Goodman, Dor-
othy Brown, Goldie Goodgall, Ada Mes-
ser, Harriette Mellin, Norma Nolish. Ruth
Sills. Lillian Latzer. Charlotte Rosen,
Doris Adelstein. Faye lb nenson, Elaine
Robbins, Florence Rosengarten, Gertrude
Yaras„ Ruth Kline, Ruth Resk, Martha
Friedman, Sadie Pesick, Mildred Bron-
stein. Rose Cooper, Edith Hoffman, Ruth
Bernbaum, Leah Zucker, Beatrice Sugar,
Ruth Shapiro, Betty Spinner, Sema Fischel
and Rose Fineberg.
Shetzer Memorial Forum March 24;
To Present Forest Certificate
The- annual Shetzer Memorial
Forum, instituted in tribute to
the memory of Simon Shetzer,
will be held at the Zionist House,
Linwood and Lawrence, on Mon-
day evening, March 24.
This year's discussion will be
devoted to a review of the pres-
ent-day Zionist position and the
future of the Zionist movement.
Representatives of leading Zion-
ist groups will participate.
The main feature of the eve-
ning will be the presentation to
the Shetzer Family, by Irving
Schlussel, president of the Jew-
ish National Fund Council of De-
troit, of the certificate signifying
the completion of the Isaac and
Simon Shetzer Memorial Forest
planted in Israel.
The once vociferous dollar is
now a poor shrinking thing.
ti
Build Israel
with Bonds
Those securities, though registered, hove net boon approved or disapproved by the Securities
and Exchange Commission, which does not pass on the merits of any registered securities.
BIGday
SUNDAY a
MARCH J
ISRAEL WAITED
FOUR YEARS FOR THIS D
Four years had to pass — four years of struggle and hard work by the people
of Israel, building industries, farms, new cities, new power installations,
laying- the foundations of a great modern state, —before BIG DAY could
be proclaimed.
On BIG DAY, Sunday, March 9th, the Jewish homes in our community
will be visited and asked to invest, not donate,— to lend the people of Israel
money by purchasing State of Israel Bonds-. The money will be returned,
with interest.
The people of Israel can and want to be self-supporting. Israel Bond &liars
are doing BIG things in Israel. New factories, new projects to exploit
Israel's natural resources, new income producing enterprises which use Israel's
reservoir of skill and manpower are being built at a fast pace. But more
bonds will produce even greater economic. progress.
The person who will ring your door-bell on Sunday, March 9th will bring
you the story of the people of Israel—more than 1,400,000 strong. Open your
door and welcome the authorized volunteer on BIG DAY. Remember, an
Israel Bond brings—a rich return for your heart, a good return for your purse.
0
STAY HOME AND BUY OR GO OUT AND SELL ISRAEL BONDS ON BIG DAY
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STATE OF
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may ba placad at, and Praspoetasos obtainott frown
American Financial and Development Corp. for Israel
ISRAE
2200 DAVID STOTT BLDG.
This is not a e rospeetus Or ,an offer I. sell or a solicitation of offers to buy these securities. The offering is made only by the Prospectus.
STATE
OF
ISRAEL
$500,000,000 INDEPENDENCE
BOND ISSUE
Two types of Bonds are offered at par
as follows:
(a) Interest Bearing Bonds Denominated as
Fifteen Year 31/2% Dollar Coupon Bonds.
Interest 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
11,000 • $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 proceeds of
the Bond Issue are to be used for the our•
chase of machinery, raw materials, equip.
ment and other items designed to increase
the country's productive facilities so that is
may earn and save foreign currency. Of the
total amount, $205,000,000 is to be alio.
cared for investment in the fields of industry
and power. The sum of S 1 30.000,000 has
been designated for agricultural pro jectV4
340,000,000 for the development of harbors]
shipping • and railroads; $45,000,000 for
trade and services including the development
of the tourist industry; and 330.000,000 for
the establishment of a government mortgage
bank for housing.
The balance, after payment of the ex-
penses of the issue, is to serve as a reserve
for unanticipated projects or for increased
expenditures for the designated projects.
The Government's economic develop.
meet program involves a total projected ex-
penditure of $1,500,000,000. of which
5500.000,000 is to be provided by Israel
and other countries, and the balance is to
be obtained in the United States. The 3500..
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 investment nec-
essary to create permanent employment op.
portunities and housing for the newcomers.
A balanced and mature economy will as s
rule produce enough to cover the consump•
Live needs of its population and to provide
for some further investment to increase pro-
ductivity. But under the best conditions, cur-
rent production cannot begin to supply the
huge capital needs of a population that is in-
creasing at the enormous race experienced by
Israel. Palestine and Israel, therefore, have
always had an adverse trade balance—like
many young countries facing immigration
and development tasks. including the United
States. Australia and New Zealand. As im-
migration increased, so did the adverse trade
balance. The import surplus served to meet
the investment needs of the sronomy. 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 receipts on current account "ere 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 agricultural enterprises and
through the expansion of production for ex-
port 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 in-
clude 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 expendi-
tures I.L.• 93.800,000. From April 1, 1950
to January 31, 1951. receipts were
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 Develop-
ment Corporation for Israel with head-
quarters at 120 Broadway, New York 5,
New York, is the principal underwriter for
the Scare of Israel Bond Issue. The commis.
*sions or discounts are not to exceed 31/2%.