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May 29, 1959 - Image 11

Resource type:
Text
Publication:
The Detroit Jewish News, 1959-05-29

Disclaimer: Computer generated plain text may have errors. Read more about this.

Israel to Ease Currency Restriction Bulgarian Jewish Consistory Begins Self-Liquidation for 'Errors'
JERUSALEM, (JTA) — Deci- maining national organization
respective public institutions
to Encourage Private Investment
sions which amount to steps for declared itself to be guilty for handling.

JERUSALEM, (JTA) — The
Israel Finance Ministry, in an-
other liberalization of currency
restrictions, has decided to al-
low foreign investors the right
to take unlimited profits out of
Israel. Present rules permit in-
vestors to take out annually a
maximum of profits of up to
ten percent of their invest-
ments.
Finance Minister Levi Eshkol
told businessmen from 15 coun-
tries that plans were underway
to make Israel laws for the en-
couragement of private capital
investment the most liberal in
the world. Speaking at the clos-
ing session of the Second Inter-
national Conference of Bi-
national Chambers of Com-
merce, he said Israel expected
such investment to have a ma-
jor role in Israel's development.
Israel, he stated, could now
be fairly described as a "going
concern." He said national pro-
duction was expanding steadily,
with last year's increase alone
nine percent. Unemployment,
he reported, was being reduced
in spite of increase in popula-
tion and a reasonable stability
of prices was being maintained.
"While in the first decade, Is-
rael's main sources of capital
were funds from Jewish Appeal
campaigns, Israel bond drives,
inter-governmental help and
some private investments—all
of these funds paving the way
for private investment—it is an-
ticipated now that private cap-
ital investment would play the
outstanding part in Israel's de-
velopment," Eshkol stated.
He said the Israel govern-
ment had proposed to the Knes-
set amendments to the invest-
ment bill to encourage private
investment. The changes would

A Suggestion
To My Friends

You may have sufficient
life insurance for your-
self, but do you have an
insurance plan for your
son?

While he N young, the
rates are extremely low,
and -as he grows to man-
hood, he will have a very
inexpensive insurance
program.

We have a wonderful
plan, with very -attrac-
tive, interesting condi-
tions. May I have the
privilege of discussing
this most important mat-
ter with you? Without
obligation on your part,
of course!

A phone call from you

will be most highly ap-
prec iated.

—Harry Cohen

liberalize tax concessions to in-
vestors and offer opportunities
to take out profits in foreign
currency. Such liberalization,
he explained, was possible now
that Israel had accumulated
"relatively satisfactory" reserves
in foreign currency which per-
mitted Israel to pursue a policy
of liberalization in this area.
Eshkol cited some of the lib-
eralization measures, including
one which entitles foreign res-
idents, paying in foreign cur-
rency for some types of stocks
registered on the stock ex-
change, to receive either div-
idends or their capital if they
sell them in foreign currency.
He said such steps were "rath-
er venturesome" for I s r a e l's
young economy but that these
actions would create better con-
ditions for foreign capital in-
vestment. Nathan Straus 3rd,
president of the American-
Israel Chamber of Commerce,
was re-elected president of the
international association.

Israel Again Loosens
Tight Money Controls

Direct JTA Teletype Wire
To The Jewish News

JERUSALEM — The Israel
Treasury again eased currency
restrictions with a decision to
allow recipients of restitution
payments from West Germany
to retain one-third of such funds
in foreign currency for unre-
stricted use abroad. The remain-
ing two thirds must be ex-
changed for Israel currency.
The recipients also will re-
ceive a 20 percent premium for
the two thirds in addition to
the. official 1.8 pounds per dol-
lar rate.

Farewell Patty Set
for Henri Geldbergs

Mr. and Mrs. Henri Gold-
berg, of 2930 W. Boston Blvd.,
will '-)e feted at a farewell par-
ty given by the Jewish Folk
Chorus at 6 p.m., Sunday, at
14868 Schaefer, prior to their
departure for California next
month.
Goldberg, who was conductor
of the Chorus for 17 years, was
active in community music cir-
cles, having- been affiliated with
Shaarey. Zedek as choir con-
ductor and with the United
Hebrew Schools, Sholem- Alei-
chem Institute and Farband
Schools.
For reservations, call Mrs. R.
Baron, DI 1-9231.

.

`Jewish Teachers Day'
Observed by Educators

NEW YORK (JTA)—Jewish
communities throughout the
United States joined in the
observance of the first Jewish
Teachers Day, an annual event
proclaimed by the American
Association for Jewish Educa-
tion as a key aspect of the cele-
bration of Jewish Education
Month which begins Tuesday.
The annual observance of
Jewish Teachers Day took place
during the week of Lag B'Omer,
historically "the scholar's holi-
day." The country-wide observ-
ance will culminate at the
fourth national conference on
Jewish education here June 3-5
A "Teacher of the Year" will
be named at the conference.



Millard Cass Honored

Columbus Mutual
Life Ins. Co.

Representing
Hordes Agency

UN. 3-0873, Res.
UN. 3-2900, Office

WASHINGTON, (JTA) —
Millard Cass, deputy undersec-
retary of Labor, was honored
three times in a row. He was
elected a member of hte board
of the International Synagogue
at Idlewild Airport, a member
of the board of the Washington
Hebrew Congregation in Wash-
ington, D.C., and President of
the Sligo Junior High School
PTA in Silver Spring, Mary-
land.

liquidation of Jewish cultural
and religious life in Bulgaria
were taken at a recent meeting
of the Consistory of Bulgarian
Jews, according to a report re-
ceived here.
The Consistory, the only re-

20,000 Argentines
Greet Mrs. Meir

BUENOS AIRES, (JTA)—
Mrs. Golda Meir, currently visit-
ing Argentina in her official
capacity as Israel Forign Minis-
ter, is taking the country by
storm.
Over 20,000 Jews— the larg
est Jewish gathering since the
Visit of Prime Minister Moshe
Sharett in 1953—assembled in.
Luna Park to listen to an ad
dress by Mrs. Meir on Monday
Expressing thanks to -the
Argentine government for "the
extraordinary hospitality" • ex
tended since her arrival, she
termed this a sign of friendship
and cooperation between the
two governments.
In a review of Israel's "great
worries" and "great achieve
ments" during Israel's first de
cade, Mrs. Weir stressed the
people's resiliency under the
tragic events of the pre-state
period.
Terming free immigration
"the fundemental fact of our
independence," t h e Foreign
Foreign Minister described the
agricultural, in d u s t r ial and
scientific advances in Israel, the
valor of its soldiers and the
friendship and cooperation be-
tween - Israel and many Asian
and African nations.
Later, Mrs. Meir • spoke to
more than 300 delegates from
110 Argentine Jewish commu-
nities who assembled for the
convention of the Argentine
Federation of Jewish Com-
munities.
She told the overflow audience
that historically the Jewish
people has always been organi-
zed, even in the smallest pos-
sible groups, to maintain Jew-
ish tradition and education: She
warned that only internal forces,
not external ones could break
the Jewish people.
On her arrival in Buenos
Aires, -the Foreign Minister had
an audience with President
Arturo Frondizi, which was at-
tended by Dr. Luis Mackay,
Acting Foreign Minister,
nister, and
Gen. A. Olascoaga, Chief of the
President's Military House.

Sees Jewish Victim;
Admits Nazi Crimes

FRANKFORT (JTA)—A for-
mer Nazi _medical orderly has
admitted murdering some 500
concentration camp inmates in
Ravensbruck, Mauthausen and
Melk. His confession followed a
dramatic confrontation by a
Jewish inmate— a physician
who had been imprisioned at
the Mauthausen camp.
The self-confessed slayer was
Gottleib Muzikant, 55, who had
served in Hitler's S.S. units as
a medical orderly. He was ar-
rested on April 30 and had con-
fessed to the murder of 50
prisoners before his confronta-
tion by Dr. Claus Salomon.

Rogosin's Son Produces
Apartheid Film in Africa

NEW YORK (AJP)—Lionel
Rogosin, son of Isaac Rogosin,
New York industrialist who has
recently built a $20,000,000
rayon factory in Israel, has ar-
rived from Africa where, under
the very noses of the South
African police, he made a
highly controversial film on
the touching question of
"apartheid," entitled "Come
Back, Africa."
Lionel, educated at Yale, is
35 years of age. At the age
of 30, he resigned as presi-
dent of Beaunit Mills to be-
come a film producer-director.

of such "errors" as an insuffi-
The Consistory also proposed
cient number of lectures and
that,
on the other hand, the
articles in the past on "the im-
perialist nature of Zionism" Consistory and the Jewish com-
and too many activities munities should engage in such
strengthening the "differentia- "constructive activities" as edu-
tion of Jews from other Bulgar- cation of Bulgarian Jews "for
active participation in Socialist
ians."
reconstruction" and in "explain-
To correct such "faults," the ing the anti-popular nature of
Consistory recommended can- the Jewish religion."
cellation of financial support
for Jewish religious communi-
ties, suspension of Jewish wel-
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