Israel Finance N•1inister
launch Investment Project in Detroit
From left: Samuel Roth-
berg. Emma Schaver and
Israel Finance Minister
THE DETROIT JEWISH NEWS
Friday, September 30, 1966-17
Series of Three Lectures Announced
for Shaarey Zedeli. Art Festival
agriculture and industrial produc- sought information on the future
tion despite limited resources. of development loans, the long "Giants in Art," a trilogy
Sapir, who is holding meetings stalled nuclear desalination pro- lectures delving into the herit of Exhibits, Mrs. Jay Golub, with
with Secretary of the Treasury ject, commodity purchases and and contributions of some of age Robert Siegel as co-chairman; fi-
the nancial, Harvey Snider; program,
Henry Fowler and other key
great 19th and 20th century artists, Walter L. Field, with Dr. Daniel
United States financial managers,
The Israelis are in a difficult is planned by the fine arts corn- Gilbert as co-chairman; publicity,
told the press that Israel was
situation but the United States is mission of Congregation Shaarey Roger Boesky; selections, Mrs.
to some degree dependent on Zedek.
sending more dollars back to the
Herbert Keiden, with Mrs. Sol
Israel to maintain a situation of
United States in redemption of
Dr. _ Milton Covensky- , Wayne Dann as co-chairman.
stability in a turbulent area. Arab
matured Israel Bonds than it
State University professor, will
hostility against Israel and the
was taking out from the United
speak to the first point of the tri- Ex-Nazi Allowed to Stay
United States continues to simmer.
logy, "The Historical and Sociolog-:
The United States sells Israel
Discussing the effects of the
ical Environment from which the in Government Position
United States "tight money" situ- jet bombers and tanks to balance Modern Artist Emerged,"
KARLSRUHE (JTA) — T h e
the Arab build-up with Soviet Oct. 25, 8:30 p.m. His lecture will
ation, Sapir said that Israel Bond
weapons. This imposes a tremen- be a highlight of the week-long Karlsruhe high court has reaf-
sales were ahead of 1965 sales at
dous financial burden on Israel. Second Annual Shaarey Zedek Art firmed a ruling that the chair-
this time of the year and that
man of the Indemnity Senate
Meanwhile, the British are with- Exhibition and Sale, Oct. 23-30.
United Jewish Appeal receipts
could be a former member of the
drawing forces from Suez to
"The Aesthetic and Artistic Con- Nazi Party. The court had ruled
were also ahead. He also said that S i n g a p o r e. Royal Air Forces
tributions of 19th and 20th Cen-
the greatest psychological blows
squadrons will soon leave Aden. tury Jewish Artists," second lec- originally in the case that the
against the Arab boycott of Israel
chairman could remain in the post
had been dealt by American auto- Israel is becoming a pro-Western ture in the series, will be by Dr. though he had been a member
motive concerns which have indi-
of the SS in 1933.
cated plans for production in region. tory professor. He will relate the
The ruling was challenged by
These factors motivate some ele- subject to such artists as Soutine,
a survivor of Nazi persecution.
ments in the government, espe- Modigliant, Pissaro and Epstein.
Sapir met with William Gaud, cially in Congress, to help Israel The last of the lecture series will The Karlsruhe court rejected the
administrator of the U.S. Agency ameliorate her financial plight. be announced at a later date.
challenge in affirming its first
for International Development. The If Washington would avoid a Max M. Shaye is over-all chair- decision.
meeting was described as a cour- "Vietnam" in the Middle East. • man of the Shaarey Zedek fine
tesy call, but it is believed that Israel must be strong enough to 1 ares commission, and Myron L.
Israeli-American economic rela- deter aggression, according to Milgrom is co-chairman. The corn-
tions in the area of development many Congressmen.
mission will be sponsoring a vari-
ety- of future events relating to
In an interview, Sapir predicted
the arts in general. Heading
At Mid-America's fabulous resort ...
commission sub-committees are:
that Israel's new austerity program
s playtime paradise whereyou'll enjoy:
would bring an increase in exports
• Terrific food
next year, rising to $600,000,000
• Beautiful heated pool
from this year's $465,000,000.
A new investment instrument in
behalf of Israel was introduced
here on Sept. 22, at a parlor meet-
ing at the home of Mrs. Emma
Schaver in Southfield, by Israel's
Finance Minister Pinhas Sapir
and the chairman of the project,
Answering an appeal "for greater
industrial power" a number of
Detroiters were enrolled as par-
ticipants in the new fund, "Capital
for Israel, Inc.," the objectives of
which were outlined by the two
Rothberg pointed out that the
new CFI fund is being launched
by the Industrial Development
Bank of Israel which has been
paying high dividends and has fi-
nanced scores of Israeli projects,
contributing towards the coun-
* * *
• All sports
try's development. IDBI, it was
• Gala floor shows
pointed out, has been an impor- Israel Requests More
tant factor in assisting newcomers
Assistance from U. S.
A record total of $1,294,200 was
subscribed in the Israel Bond
By MILTON FRIEDMAN
CFI, Rothberg said, will pay a
High Holy Day appeals here, it was
(Copyright, 1966, JTA, Inc.)
DREAMS COME TRUE!"
guaranteed 7.5 per cent dividend
Be our guest Oct. 23/24
WASHINGTON—The impact of announced by Phillip Stollman,
yearly. cumulative in dollars. He America's "tight money" situation chairman of the congregational
The resort with a purpose!
told of protective factors assured
on the Israeli economy may be- council.
by the Israel government which come more apparent following the
This total is an increase of
owns 26 per cent of the IDBI vot-
SOUTH HAVEN, MICHIGAN
14 per in
cent above the
Plane 637-5113 Area 616,1
Belle Isle!Venetian Causeway/Miami Beach
Israel Finance Minister Pinhas High Holy Day appeal. - last year's
In his address to the gather- Sapir.
5.0050 • Wing Beach (305) 53(1-4021
ing, Finance Minister Sapir ex-
Adas Shalom Synagogue set the
U.S. officials are less disposed pace. Its members responded to
plained the new Israeli economic
to let dollars flow abroad in loans the appeal of Rabbi Jacob E.
policies. He said that his gov-
at a time when Washington is Segal by subscribing for a total
ernment's actions were preceded
seeking to borrow money from of $505,350. This was the ninth
by the sentiments of the Israeli
people itself which has begun citizens through new defense bond consecutive Israel Bond Appeal
to spend less and save more and issues. There is also an increased made by Rabbi Segal, and again
in every way to assist in elevat- tendency to demand dollars rather Adas Shalom is the top congrega-
ing Israel's economic status. He than Israeli pounds in payment tion in the nation in High Holy
for surplus commodities. Eco- Day Israel Bond results.
pointed to the necessity to
nomists predict that such trends
Bnai Moshe was second with
freeze wages and even social
will be escalated by increased $185,000, followed by Beth Abra-
benefits and to resort to action
Vietnam war activity after the ham with $168,350 and Bnai David
leading to increased production. November elections.
He expressed confidence that
Israel, beset by its own eco-
Other congregations and sums
the deficit in the balance of
trade will be reduced by nomic problems. is curtailing non- subscribed are: Ahavas Achim,
$60,000,000 by the end of this essential spending. The Israeli $59,600; Beth Aaron, $43,750; Young
economy has suffered from the Israel of Oak-Woods, $41,200;
Among the stock purchases at termination of West German resti- Beth Hillel, $24,700; Beth Moses,
the Schaver residence was one for tution payments, increased defense $18,600; Young Israel Greenfield,
$15,200; Young Israel Northwest,
$5,000 by William Roth as a scho- spending, and other factors.
Israelis have been forced to $15,150; Mishkan Israel, $13,000;
larship fund for the Hebrew Uni-
tighten their belts. A drastic Beth Yehudah, $10,500; Shaarey
versity in Jerusalem.
(Sapir, asked about the report shortage of hard currency exists. Shomayim, $10,300; Beth Joseph,
in The Jewish News on Sept. 16 Development projects have been $8,250; Bnai Jacob, $7,400; Shomrey
Emunah, $4,950; Bnai Zion, $4,000;
that he was one of a "troika" — halted. Unemployment is increas-
Beth Tefilo Emanuel, $3,400. The
consisting of himself, Golda Meir ing. Even the personal . expense results are still incomplete.
and Yisrael Galilee—who "have allowances of Israeli diplomats in
Dinners on behalf of Israel
for themselves the task of forcing Washington and elsewhere has Bonds are planned by Congrega-
Paul L. Sherizen, C.L.U•
the resignation of Prime Minister
tion Shaarey Zedek, by Congrega-
Levi Eshkol," branded the story as because of the dollar shortage. tion Beth Shalom and by Temple
on qualifying for the designation of CLU —
"a pack of rehilot, mere gossip
The State Department no longer Israel.
considers Israel an underdevel-
CHARTERED LIFE UNDERWRITER
oped country. Officials have sug-
gested that Israel must not be in
New Corporation Raises
This designation is conferred by the American College
a had economic situation if she is
Sold at Reception
$336,000 at DC Dinner
able to aid nations in Africa, Asia,
of Life Underwriters on those who attain a prescribed
and Latin America. These Israeli of Adas Shalom
for Israeli Investments
level of professional achievement. The requirements in-
programs, however, have mainly
(Direct JTA Teletype Wire
passing five comprehensive written examinations,
to The Jewish News)
WASHINGTON — Capital for
as well as meeting specified experience and ethical
Sapir met with government au-
Israel, Inc., a new corporation thorities here at top levels. It is
formed under Israeli auspices, re- reasonable to assume that he
ceived Monday night pledges of
A Chartered Life Underwriter has broadened his base of
$336,000 toward its goal of $20,- Yeshiva U. Adult Unit
knowledge and deepened his ability to understand and
000,000 for investment in Israeli
the problems of his clients. He warrants the confi-
industries at a dinner here.
NEW YORK (JTA) — The Ye-
Pinhas Sapir, Israel's finance
dence of all who look for a professional approach to their
minister, who is in the United shiva University department of
personal and business life insurance needs.
States to attend meetings now tak- adult education announced- plans
ing place here of the International
At the leadership reception on
Monetary • Fund and the World program this fall.
behalf of Adas Shalom Synagogue
Bank, reported on the new cor-
Dr. Sidney B. Hoenig, director hosted by Mr. and Mrs. Norman
20800 Greenfield had
of the department, said partici- Cottler, a total of $328,100 in Is-
Phone: JOrdan 4-5275
He heard a statement at the op- pants will be members of 500 con- rael Bond subscriptions was an-
ening session of the World Bank gregations which have used the nounced by Rabbi Jacob E. Segal
meeting by Chairman George department's services to organize (right). The subscriptions included
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY k-4
Woods that Israel was an example and develop synagogue adult insti- $15,000 by the synagogue and
SPRINGFIELD, MASSACHUSETTS • ORGANIZED DM
of a .wnall country succeeding in tutes.
$5,000 by the cemetery.
V OF FUN!
Sale of Bonds
on Holy Days
DETROIT GOLD AGENCY