THE JEWISH NEWS-9

Friday, December 5 1952

Simon *Hostiles, theogh registered, itist* test fh•es approved et disapproved Iv dt• SegerMee
end Istchenipi C,ernmIssion, which dew sot pees en the merits •f any registered securities.

KNOCK ON ANY DOOR...

mid you'll find a friend of Israel

Knock on any door on

BIG Day and you will find a
Sunday, December 14th,

ready welcome. Make
your day to roll up an impressive record of Israel Bond

sales.

It's still not too late to join the men and women who will

bring Israel Bonds into the homes of their friends and
neighbors on BIG Day. Simply tell the Israel Bond

office to add you to the list of volunteers who are giving

one day to help build a strong and self-sufficient Israel.

The people of America have repeatedly demonstrated

their warm friendship for the State of Israel. That's
why it's so easy to be an Israel Bond volunteer on

BIG Day... Sunday, December 14th.

Further htfermethint, porticulerly Rootlet& htfetwostiert, Is cernetseal In the Roes-
Motion Statement OW with the Commission and hi a mere complete Prospectus
which most be forolsit•l t each porches", and Is •ineinehle from the uftdersignid.

Orders for Bonds may be placed at, and Prospectuses obtained front:

American Financial and Development Corp•for Israel

STATE

OF

ISRAEL

BONDS

2200 David Stott Bldg., Detroit 26, Michigan

If you wish to enroll as a volunteer for BIG DAY fill out and mall this coupon today.

STATE

of

ISRAEL

$5011,11111,1100 INDEPOIDINCI

'The

BOND ISSUE

issue is intended to promote the eco•
nomic development of the State of Israel.
Its proceeds are used for the purchase of
machinery, raw materials, equipment and
other items designed to increase the country's
productive facilities. The allocations from
the total issue and allocated expenditures
in the fiscal year 1951-52 are (in millions
(Sc dollars)
industry and power.
$205
$34.2
Agriculture
130
18.1
Trardportation and
communication
40
13.6
Trade and services
45
4.9
Housing loans
30
9.8
Reserve & flotation costs
SO
3.4

$500
$84.0
The Government's economic develop-
ttnent program involves a total expenditure
of $1,500,000,000, of which $500,000,000
is to be.provided by Israel and other coun-

tries, and the balance is to be obtained in
the United States. The $500,000,000 State of
Israel Bond Issue is the larigest single source
of funds for this program.
The rapid, large scale immigration re-
quired an import surplus to meet the in-
vestment needs of the economy. For 1949
receipts on current account (expressed in
Israel pounds, II., then fixed at $2.80 to the
pound) were IL 20,600,000 and payments,
IL 94,100,000. For 1950 the respective fig-
ures were IL 21,100,000 and 114,900,000,
and, for 1951, IL 24,600,000 and 136,-
800,000. Economic steps designed to combat
inflation and encourage productivity of
labor included the establishment in February,
1952 of additional rates of exchange of $1.40
and $1.00 to the pound to attract foreign
investment and to promote export, restric-
tion of bank credit and other measures.
As of December 31, 1951, funded debt
was IL 195.9 (exclusive of Treasury Bills,
omitted because of their relation to the pri-
vate Special Defense Budget). Israel has
never at any time defaulted on the principal
or interest on any debt.
Government budgets (exclusive of the
Special Defense Budget and receipts from

related internal loans) have leen as follows,
in milliorti of IL:
Expend-
Receipts irurer
lay15,'48 - Mar.31;49
27.5
28.9
Apr.1.'49 - Mar.31;50
92.9
93.8
Apr.1,"50 - Mar.31;51
148.0
148.1
Apr.1;51 - Dec.31;51
129.1
135.5
American Financial and Development
Corporation for Israel, 120 Broadway, New
York, New York, is the underwriter for the
issue. Commissions or discounts are 6%. The
State also bears certain other eOpenses in
connection with the flotation.
Two types of Benda are offered at par
as follows:
(a) interest haring Bonds Denominated at
Fifteen Year 314% 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 Valve: 150% of issue amount
Denominations! $50 • $100 • $:250 • $500
$1,000 • $2,500 • $5,000 • S10,000

e

AMERICAN FINANCIAL & DEVELOPMENT CORPORATION FOR ISRAEL

2200 DAVID STOTT BLDG. DETROIT 26, MICHIGAN

Yes,

be happy to join with other members of our community to be

a volunteer on BIG DAY, Sunday, December 14th—to build Israel

with Bonds. Please send me a prospectus and further information.

NAM

ADDRESS

CITY

This is not a prospectus or on offer 19 WI or a solicitation of offers to boy these securities. The offoring is made only isy the Prospectus,