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March 17, 1978 - Image 19

Resource type:
Text
Publication:
The Detroit Jewish News, 1978-03-17

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

THE DETROIT JEWISH NEWS

Boris Smolar's

Between You
. . . and Me

Editor-in-Chief
Emeritus, JTA
(Copyright 1978, JTA, Inc.)

U.S. FUNDS FOR SOVIET EMIGRANTS: Few Jews

Antique Menora
Sold for $11,000

Friday, March 11, 1918 19

We are pleased to announce that

NEW YORK (JTA) — An
Italian Hanuka lamp made
in Padua about 1750 sold for
$11,000 to a New York
dealer at auction last week
at Christie's New York.
The lamp, which is
slightly more than 13 in-
ches high, is elaborately ch-
ased with shells, foliage,
scrolls, and husks. It was
one of five Italian pieces in a
sale of English, Continental
and American silver.

LOIS A. BUDMAN

has joined our corporation as a

Registered Representative

in this country are aware of the special aid which the U.S.
government is giving to the Jewish Agency — through the
United Israel Appeal in New York — for the resettlement of
Soviet Jews in Israel. A program for such aid was initiated
Incorporated
by the U.S. Congress in 1972.
1330 Buhl Building, Detroit, Michigan 48226
Since then, through 1976, the Jewish Agency — as the
Respect thy physician be-
operating agent of the UIA — has received $121 million in
Telephone (313) 964 - 9800
U.S. grants for various projects related to bringing in and fore thou hast need to con-
sult
him.
50 additional offices worldwide
absorbing immigrants from the Soviet Union. This sum
—The Talmud
does not include the cost of transportation of the immig-
rants and their luggage to Israel which runs into millions of
dollars advanced by the U.S.
About 43 percent of the funds were spent to expand Is-
rael's facilities to receive and resettle Soviet immigrants,
according to a report just submitted to the Congress by the
Comptroller-General of the U.S. The expansion included
building of permanent housing for the newcomers, erection
of absorption centers, and establishment of medical clinics.
The funds were also used for training and retraining Soviet
immigrants, university scholarships, rental payment and
other programs including construction of 1,350 apartments
for permanent housing for the immigrants.
The terms of the grants have been generally complied
with, the Comptroller-General of the U.S. established.
However, his report to Congress poses the question
whether the United States should continue funding con-
struction of apartments and rental payments now that
there are hundreds of vacant apartments, built by the
Jewish Agency or by the Israel government. It does not fail
to point out that many of the vacant apartments are located
in outlying areas, such as development towns, while im-
migrants prefer to live in the more developed areas. Fi-
gures of the United Israel Appeal show that 42 percent of
the recent Soviet immigrants have settled in the central
For safety and high income...paid monthly...
health-care facility mortgages. But if you're a
coastal areas around Tel Aviv.
it's difficult to match GNMA Mortgage-Backed
substantial individual investor, you also can
A U.S. SURVEY: Officers of the Immigration and
obtain all the benefits for your own personal
Certificates. They bear a U.S. Government
Naturalization Service have taken a six-week sample
"pension fund:'
guarantee on "the timely payment of both
among "yordim" in Rome and in Frankfurt with a view to
establish why they left Israel. With most of them the
principal and interest!' Since many GNMA's
reasons were of an economic nature, but a substantial
are now selling at discount from the original
Advantages of GNMA Certificates
number gave as a reason the fact that they had one or more
issue price, the face amount interest (varying
non-Jewish family members.

They currently yield over 8'/,% compared to
upwards from 6%) actually yields' over 81/2%
The U.S. government provided about $24 million from
an approximate 8% on comparable maturing
for current investors.
1972 through 1976 for assisting Soviet refugees who did not
U.S. Government Bonds.
wish to be resettled in Israel. Assistance was also provided
What Are GNMA Certificates?
to those who initially v ent to Israel but subsequently left

Principal and interest, and their timely pay-
within a year to seek ?settlement in other countries. Of
ment, are guaranteed by the U.S. Govern-
GNMA stands for Government National Mort-
about 32,000 who preferred not to settle in Israel, more
ment.
gage Association, a part of the U.S. Department
than 23,000 had actually been moved to other countries,
of Housing and Urban Development. The

Interest and principal comes in convenient
about 20,000 of them to the United States. HIAS handled
money raised by the salesd-these GNMA Guar-
more than 15,000 of them from 1972 through September
monthly payments...ideal for wealthy re-
anteed Certificates is used to finance mortgages.
1976.
tired people or those interested in current
GNMA
guarantees
timely
payment
of
both
A special policy adopted by the State Department
income with a high degree of safety.
principal and interest on these Mortgage-
specifies that Soviet refugees who left Israel after being

There are none of the traditional and often
there at least one year or more are not eligible for U.S.
Backed Certificates, and its guarantee is backed
necessary burdens of ordinary mortgage
assistance through voluntary agencies in the countries
by the full faith and credit of the government
where they are awaiting admission to lands other than
investment... no legal expenses, no adminis-
of the United States of America.
Israel. However, limited assistance is being given to them
trative work, and no worry about late
When you buy a Certificate, sold by Kidder,
in the form of resettlement documentation. Their transpor-
payments.
Peabody in units of $25,000, you purchase a
tation is similarly being paid by the U.S. government when
share of a pool of insured FHA or VA mortgages.

GNMA Certificates can be turned into cash
they secure permanent resettlement visas.

Kidder, Peabody & Co.

Kidder, Peabody is people with ideas:

Over 81-A%

yield on your money... from a
Government-Guaranteed Security.
And the income is paid monthly.

PLO, Communists Campaign
Against Israel, Nicaragua

The following press re- This later communique
lease was circulated by the signed by Jose B. Escobar
Nicaragua Government In- for the FSLN and Mustafa
vormation Service in Ali for DFLP, condemns
U.S. imperialism for sup-
Washington:
WASHINGTON — The porting Israel
and
Palestine Liberation Or- Nicaragua.
The two terrorist organi-
ganization and the Cuban-
backed, Marxist "Frente zations have also formed
Sandinista de Liberacion common cause in the fight
Nacional . ' (FSLN) of against the governments of
Nicaragua have .Announced El Salvador, Guatemala
their intention to join forces and other anti-Communist
and wage war on U.S. im- governments in Latin
perial ism, the "racist" state America.
Nicaragua has never
of Israel and the Somoza
government in Nicaragua. failed to support Israel in
The joint communique of international forums. Only
March 6 datelined Havana, Nicaragua and the U.S.
announcing the "mutual supported Israel during last
solidarity" of the Cuban- year's vote in the General
Marxist FSLN and the Assembly of the United Na-
Democratic Front for the tions on a draft resolution
Liberation of Palestine. against Israel.

Each certificate issued against the specific "pool"
is GNMA guaranteed. You enjoy a number of
advantages which were designed initially to
attract money from pension funds and other
institutional investors into residential and

more readily than ordinary mortgages.



-

Attractive investment for large and small

corporations with excess cash.

Write for "An Investment in GNMA Certificates"

Kidder, Peabody, one of the world's largest investment banking firms, is a major purchaser and diikributor of
GNMA Certificates. We also make a secondary market in Certificates which we have distributed. We've prepared a
summary booklet describing this attractive income investment in detail. Write for your copy today.

An Innstnt•nt
GNMA
Certificates

Kidder. Fbabody& Co

II

. I

Kidder, Peabody
& Co.

JN-3178"

Gentlemen: Please send me your booklet
An Investment in GNMA Certificates"

INCORPORATED

.

Al,..1,,., N...Y..{

A,

(..4.,.

1330 Buhl Bldg., Detroit, MI 48226
Tel: (313) 964-9800
3250 W. Big Beaver Rd., Troy, MI 48084
Tel: (31.3) 649-5700

New York, Boston, Philadelphia. Chicago.
San Francisco, Los Angeles. Atlanta. Dallas
and 42 additional offices worldwide.

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