WASHINGTON (JTA) — A
commodity sales agreement pro-
viding funds for lending in Is-
rael by the Export Import Bank
of Washington under Public
Law 480 has been completed
by the United States and Israel.
Under terms of the law, 25 per-
cent of the Israeli pounds to be
derived under the commodity
sales agreement with Israel will
be made . available to the Ex-
port-Import Bank for loans in
Israel.
Under the legislation the
bank may lend these Israeli
pounds to U. S. firms or their
branches, subsidiaries, or affili-
ates for business development
and trade expansion in Israel,
or to U.S. or Israel firms for
expanding markets for and the
consumption of U.S. agricul-
tural products. The law requires
that the loans be mutually
agreeable to the Export-Import
Bank and Israel's Ministry of
Finance.
The loans will be made and
will be repayable in Israeli
poUnds. Maturities will corre-
spond generally to those used
in the bank's dollar loans to
private borrowers. It is in-
tended that the interest rates
will be similar to those charged
for comparable loans in Israel.
The bank is prepared to re-
ceive applications for loans un-
der the Israeli commodity sales
agreement. Applications will be
received either directly at the
Export-Import Bank in Wash-
ington or at the U.S. Embassy
in Tel Aviv.
An authorization for im-
mediate shipment to Israel of
a transport of American
wheat worth $1,770,000 was
issued by . the Department of
Agriculture under an agree-
ment signed by Israel Ambas-
sador Abba Eban. The agree-
ment provides for the pur-
chase by Israel of $35,000,000
worth of American surplus
food with payment to be
Made in Israel currency.
3 Jews in Group World Jewish Music Association Formed
PARIS, (JTA)—An interna- States and in Europe. Prof.
to Study Role of tional
Association of Jewish Kurt Sachs, of New York, was
Music was established at the named president. The congress
Religion in U. S. first International Congress of was held under the sponsorship
NEW YORK (JTA) — Three
Jews were among a group of
eight consultants named by the
Fund for the Republic this
week to participate in a major
inquiry into the role of religion
in American life today. The is-
sues include: the activities of
religious pressure groups; the
use of public funds to assist
church - supported education,
and released time in the public
schools.
. Robert M. Hutchins, presi-
dent of the Fund, announced
the appointment of Rabbi Rob-
ert Gordis of the Jewish
Theological Seminary, Arthur
Cohen, publisher of Meridian
Books, and Prof. Robert Le-
kachman of Barnard College as
members of a group which will
study a number of issues af-
fecting the role of religion in
American society.
The first transport of wheat
will be shipped to Israel before
Jan. 31. Other transports of
wheat, corn, vegetable oil, but-
ter and dry milk will follow.
Under the agreement — which
is in accordance with Public
Law 480 dealing with distribu-
tion abroad of surplus U.S. agri-
cultural commodities — Israel
will also purchase cotton, td-
bacco, cheese and other farm
commodities.
Growing American Interest
In Investments in Israel
NEW YORK (JTA) — U.S.
businessmen have "discovered a
new Israel," according to a
goodwill mission whose mem-
bers reported on a six-week
tour of the United States and
American - Israel Chamber of
Canada at a luncheon of the
Commerce and Industry.
Noting that it was a "mis-
conception" to regard Israel as
primarily a recipient of charity,
Leon J. Leinkram, general man-
ager of the Manufacturers As-
sociation of Israel, stressed
that hundreds of would-be in-
vestors had welcomed the com-
prehensive information provid-
ed during the tour on investing
in Israel.
Shimon Horn, U.S. represent-
ative of the Israel Government
Investment Center, said many
would-be investors were im-
pressed by the idea of joint
ventures between Israeli and
American • investment capital,
along the lines suggested by
Vice President Nixon at the re-
cent International Industrial
Conference in San Francisco.
Jewish Music which closed here
with a concert featuring the
works of the best known Jewish
composers.
The Association will have
centers in Israel, the United
of the World Jewish Congress.
He that wrestles with us
strengthens our nerves and
sharpens our skill. Our antago-
nist is our helper.
quit "hockin" and messin'
Set Israel Youth Parley
PARIS, (JTA)—The next in-
ternational educational confer-
ence of the International Feder-
ation of Children's Communi-
ties, sponsored by UNESCO,
will be held in Jerusalem in
March, 1958.
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_
Greater Detroit B'nai B'rith Council
and Pisgah Lodge No. 34, B'nai B'rith
Cordially Invite You
to Attend a Banquet and Dance
In Celebration of it's
100th ANNIVERSARY
SUNDAY — DECEMBER 1st
Pisgah Lodge Founded Nov. 24, 1857
ONE HUNDRED YEARS
OF CONTINUOUS
B'NAI B'RITH SERVICE
6:30 p.m. at the
Sheraton-Cadillac Hotel
•
Lt. Col. the Honorable
DAVID A. CROLL
Q.C. Member of the Senate of Canada
GUEST SPEAKER
Is Being Celebrated By The
Greater Detroit B'nai B'rith Council
and Pisgah Lodge No. 34 B'nai B'rith
•
Our guest speaker Lt. Col. the Honor-
able David A. Croll, Q.C., member of
the Senate of Canada has distinguished
himself with years of meritorious service
The Greater Detroit B'nai B'rith
Council comprises of the following
lodges: Albert Einstein, Detroit, De-
troit Downtown, Detroit Louis Bran-
deis; Detroit Louis Marshall, Detroit
Suburban, Donald Fox, Dov Frenkel,
East Side, Eddie Jacobson, Harry B.
Keidan, Henry Morgenthau, Israel,
Ivan B. Bloch, Louis Stone, Motor
City, Oak Woods, Philip Handler,
Pisgah, Rabbi Mandel M. Zager,
Rex, Theodore Herzl, Tikvah and
Yuster-Rosenberg.
•
CENTENNIAL
BANQUET
Sunday, December 1
to his Government. He was honored with
being appointed Canada's first Senotor
of Jewish faith. For many years he was
Mayor of the City of Windsor. He is the
Canadian representative of B'nai B'rith
Hillel Commission.
HARRY N. KATZ
Sheraton-Cadillac
Hotel
President, Greater Detroit B'nai B'rith
Council
For Reservations
Call WO 3-3372
President, Pisgah Lodge, No. 34, B.B.
$7.50 per plate
JACK LEEDS
SAMUEL W. LEIB
Chairman, Centennial Committee
Hot). DAVID. A. CROLL
1 1 —THE DETROIT JEWISH NEWS—Frida y, November 22, 1957
U. S. Loans for Firms in Israel;
Start Shipping Surplus Food