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. 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