1 0—TH E JEWISH NEWS

Friday, December 12, 1952

Mot. eeturitlee, though registered, have not been approved or *fisapproved by the Securities

end Exchange Commission, which doss not pass on the merits of any registered securities.

Go out and sell, or stay home to buy

Israel Bonds on BIG DAY—SUNDAY,

DECEMBER 14th. Join the volunteers

who are visiting their fellow-citizens

to give them an opportunity to become

,

subscribers to Israel Bon s

If you

can't do that, be sure to stay home

on BIG DAY. When the volunteer comes

to your door, listen to the facts about

Israel. Buy a State of Israel Bond, and

become apartner in the

future

!

growth of Israel.

Make SUNDAY, DECEMBER 14th

a big BIG DAY for Israel and for you.

rwittro ► information, particularly finoncloi infonnotion, is
contoinost let Oho Rhhr
tration 5tommont fliod with the Commission and in o more oomph** Prospochts
which must b furnish'd to each porches's and is obtainable horn the onstorsionod.

°Mars for Bonds may be placed at, and Prosaattesos obtained from

American Financial and Davolopment Corp.for Israel

STATE of ISRAEL

11101i1NDINC11,-

BOND ISSUE

The 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 incresse the country's
productive facilities. The allocations from
the total issue and allocated expenditures
In the fiscal year 1951-52 are (in millions
of dollars)
Industry and power
$205
$34.2
Agriculture
130
18.1
Transportation and
communication
40
15.6
Trade and services
45
4.9
Housing loans
39
9.8
Reserve & flotation costs
50
3.4
-
-
$500
1184.0
The Government's economic develop-
ment program involves a total expenditure
of $1,500,000,000, of which $500,000,000
k to be provided by Israel and other coun-

tries, and the balance ta 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 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, IL, then fixed at $2.80 to the
pound) were IL 20,4S00,000 and payments,
IL 94,100,000. For 1950 the respective fig-
ures 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 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-
lion 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

STATE OF

ISRAEL

Mated internal loans) hive been as follows,
in millions of IL:
Expeod-
Rereiptr ilmrts
May15,"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
148.1
Apr.1;51 • DeC.31;51
129.1
155.5
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 expenses in
connection with the flotation.
Two typos of loads cm offeroll at per
es follows:
(a) Intsrost Soaring tondo D•nominoloal os
Fifteen Year Th% Dollar Coupon Rondo.
Interest payable May 1 and Nov. 1
Denominations, WO • $1,000 • $2,500
$5,000 • $10,000 • $100,000
(b) Capital Appreciation Sends Dinominolod
os Twelve Year Dollar Sevin.. Bonds, I
Maturity Value: 150% of have amount
Denominations: $50 • $100 • MO • $300
$1,000 • $2,300 • $3,000 • $10,000
!

BONDS

2200 DAVID STOTT BLDG., DETROIT 26, MICH.

Mil out and mall the attached coupon today!

AMERICAN FINANCIAL & DEVELOPMENT CORPORATION FOR ISRAEL

2200 DAVID STOTT BLDG., DETROIT 26, MICH.

Yes, I want to loin the Honor Roll of Israel Bond purchasers
on BIG Day, Sunday, December 14th. Please have a volunteer
worker visit me and bring me a prospectus and the facts about
Israel. I will be home fromt
17.3 A.M. to
C3 A.M.
0 P.M.
O P.M.

NAM

CITY

This is not o prospectus or on Off I. sell or o solicitation of anon to hay this. securities. The offering
is mode only by the Prospottus.