Friday, June G. 1952-THE JEWISH NEWS-5
These searritiee. though registered, have sof bee* approved or dieeppreved by the &KariVol
..d Exchange Commissioa, which does not pees ea the merits of soy registered eearrities.
Stay home to buy or go
STATE of ISRAEL
$500,000,000 INDEPENDENCE
out and sell Israel Bonds
Guild Israel
with Sends
on BIG
Day 131Cai Sunday,
•
rs-
SUNDAY,
JUNE 8
June 8th -the day our
whole community is
dedicating to the program
for Israel's economic-
through
independencel through
the purchase of
State of Israel Bonds.
BOND ISSUE
The issue is intended to promote
the economic development of
the State of Israel. Its proceeds
are used for the purchase of
machinery, raw materials,
equipment and other items de-
signed to increase the country's
productive facilities. The alloca-
tions from the total issue and
allocated expenditures in the
fiscal years 1951-52 are I in mil-
lions of dollars):
Industry am:I...power._ $205 $34.2
Agriculture 130 18.1
Transportation and
40 13.6
communication
45 4.9
Trade and services
30
9. 8
Housing loans
Reserve & flotation
costs
50 3.4
$500 $84.0
The Government's economic
development progrglifn involves a
total 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.
The rapid, large scale im-
migration required an import
surplus to meet the invest-
ment needs of the economy.
For 1949 receipts on current ac-
count (expressed in Israel pounds
IL. then fixed at $2.80 to the
pound, were IL - 20.600,000 and
payments. IL 94.100,000. For 1950
the respective figures were IL 21.
300,000 and 114,900,000, and. for
1951. IL 24.600.000 and 136.800,-
000. Economic steps designed to
combat inflation and encourage
productivitTr of labot included
the establishment in February,
1952. of additional rates of ex-
change of $1.40 and $1.00 to the
pound to attract foreign invest-
ment and to promote export. re-
strictions of bank credit and
other measures.
As of December 31, 1951, fund-
ed debt was IL 195.9 exclusive
of Treasury Bills. omitted be-
cause of their , relation to the
private Special Defense Budget)._
Israel has never at any time
defaulted on the principal or
interest on any debt.
Government budgets (exclu-
sive of the Special Defense Bud-
get and receipts from related
internal loans) have been as
follows, in millions-of IL:
Expend-
Receipts itures
May 15, '48-Mar. 31, '49 28.9 27.5
Apr. 1. '49-Mar. 31. '50 92.9 93.8
Apr. 1. '50-Mar. 31. '51 148.0 1481.
Apr. 1. '51-Dec. 31, '51 129.1 135.5
American Financial and De-
velcipment Corporation for Is-
rael, 120 Broadway. New York. is
the underwriter for the issue.
Commissions or discounts are
6%. The State also bears certain
other expenses in connection
with the flotation.
Two types of Bonds are offered
at par as follows:
Interest Bearing Bonds Denomi-
I
nated as Fifteen Year 3' z cao Dolor
Coupon Bonds. Interest payable May
I and Nov. 1.
NINONr befanaalles, parficaferty flaseelea beforreallea. is roosokrod Iw Ate afbeile•
!soles Serierseat AIM with obo Ceowaseseiee amid is a mere compiefe Preepectee
whit* mural
STATE OF
bs
hinelsbed is sae% paorefaamar ..d is obariloable Opera the sasidareigrotrd.
Orders for 111004S may leo plated at,
aped Prosperchrsas adofedaird 'rower
American Financial and Development Corp. for Israel
Denominations: 5500 - 51,000 52,500 55.00411
510,000 - 5100,000.
b I Capital Appreciation Bonds De-
nominated as Twelve Year Dollar
Savings Bonds, Maturity Value:
I 50 °a of issue amount.
Denominations: $50 - $100 -
S250 - $500 - $1,000 - 2,500
$5,000 - $10,000.
ISRAELEONDS
2200 DAVID STOTT BLDG., DETROIT 26
This is not a prospectus or on offer to sell or a solicitation of offers to buy these securities. The offering is made only by the Prospectus..