Stale Department Outlines Policy on Aid to Nasser

WASHINGTON, (JTA) — he saw any "mellowing in Arab in recent months, there has very wild talk about the de-
been no public mellowing of
American assistance to the antagonism toward Israel," Her- been an increase in vitupera- struction of Israel as the Arab
the Arab attitude toward us—
United Arab Republic would man declared: "I would say that, tion. There has been a lot of plan. I would say that there has possibly the contrary."
not increase Nasser's capability
to import arms from the Soviet
bloc, nor would withholding as-
sistance decrease that capabil-
ity, Assistant Secretary of State
Frederick G. Dutton declared in
a letter to Representative Leon-
ard Farbstein, New.York Demo-
crat.
The Assistant Secretary as-
serted that charges that Egypt
AND LOAN ASSOCIATION
would have to divert money
from domestic needs to pay for
Russian arms were "not valid."
He said Egypt had "an excess
of unused Soviet credits upon
which to draw."
The State Department, said
Dutton, recognizes "Israel's
deep concern with the issues
arising from the Arab - Israel
problem." However, he added
FINANCIAL STATEMENT AS OF JUNE 30, 1962
that "prospects for its settle-
ment and for stability in the
2M4Mr.Q ;a :WO MP ZIM M.WM TWAIV;
region as a whole are improved,
Issmsa - sommora r laii
e F,rif
if the countries involved are
assisted to pursue their legiti-
mate goals for economic devel-
opment."
Dutton said that "by demon-
strating American interest and
Cash, United States Government Bonds, and
support for the UAR's efforts
other Federal Agency Obligations _
for economic development,
$ 9,213,055.38
there will be a stronger foun-
Stock in Federal Home Loan Bank
2,500,000.00
dation on which mutual prob-
First Mortgage Loans (Including F.H.A. and
lems can be worked out." He
V.A. Government-Insured Mortgages)
stressed that the State Depart-
113,471,766.47
ment was "convinced" of the
Loans on Savings Accounts
278,765.33
determination of the Egyptians
Land Contracts on Residential Properties
1,172,801.32
"to search for progress., and to
Real Estate Held for Redemption (Including
maintain their independence.
They urgently require foreign
F.H.A. and V.A. Government-Insured Mortgages)
2,415,588.64
aid in pursuit of these goals,"
Real Estate Owned
1,974,032.91
he said.
Furniture, Fixtures and Equipment (Net)
365,366.30
Israel "Very Concerned"
Other Assets
687,836.66
About Egypt's Rearmament,
Ambassador Harman Says
TOTAL $132,079,213.01
NEW YORK, (JTA)—Israel
is "very concerned" about
Egypt's general rearmament,
c,tia itifie3
Israeli Ambassador Avraham
Harman said in an interview
Savings Accounts
$112,108,857.88
Sunday night, given to Senator
(All Accounts Insured to $10,000.00)
Kenneth Keating on the latter's
Advances from Federal Home Loan Bank
weekly radio-television pro-
8,270,000.00
gram.
Loans in Process
112,035.30
"We're very concerned, of
Advance Payments by Borrowers for
course. by the general picture
Insurance and Taxes
of rearmament in Egypt," he
3,125,067.93
Specific Reserves
stated. "It has been going on
160,238.93
since 1955, and has been stepped
Deferred Credits
87,394.89
up in the past year. The air as-
Other Liabilities
25,853.24
pect of it is. of course, one
General and Special Reserves
which concerns us most, but
8,189,764.84
Egyptian rearmament is not
TOTAL $132,079,213.01
limited to the air and it's not
limited to MIGs. It has also in-
DIRECTORS
cluded in recent months the
receipt by them of long-range
CHARLES CANVASSER
heavy bombers."
JOSEPH B. COLTEN
"Also from Russia?" asked
Sen. Keating.
ADOLPH DEUTSCH
"Yes." replied Harman. "But
ALFRED L. DEUTSCH
their plans include a heavy
build-up and motorization of
CHARLES L. DODGE
their infantry. development of
STANLEY M. EARP
armor and, of course, a rather
Q COMPOUNDED AND
impressive increase as far as
SAMUEL N. GERSHENSON
their naval force is concerned."
PAID QUARTERLY
NATHAN I. GOLDIN
In reply to a question as to
whether increased American aid
SAMUEL S. GREENBERG
to Egypt contributes to stabil-
All Savings Insured to $10,000 by
SAMUEL HECHTMAN
ity in the Middle East. the Is-
rael Ambassador stated:
an Agency of the U. S. Government
MAXWELL JOSPEY
"It has always been our view
GRAHAM A. ORLEY
that economic development of
countries is a stabilizing factor,
JACK S. ROSS
and I'd like to make that clear.
JACK SYLVAN
I think that we, in Israel, would
like to see our Arab neighbors
JOSEPH WARREN
concentrate upon the essential
job of improving their economic
and social situation. and any
help that they get in that re-
spect is something to which we
would take no exception at all.
We'd like to see them concen-
trate on that.
"Our only doubt about Egypt,
in particular, is to what extent
Egypt is concentrating upon her
Michigan's Largest State - Chartered Savings and Loan Ass'n
own internal affairs. Our feel-
ing is that she is still devoting
MAIN OFFICE: WOODWARD AT CONGRESS
a considerable degree of her
resources to external ventures."
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Asked by the Senator whether
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AMERICAN SAVINGS

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woman; two make her disgrace-
ful; three are demoralizing; and
four are brutalizing.—Kethuboth
65a.

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