The first issue of $1,000,000 first mortgage bonds of Palestine Securities. Inc. the agency organized under the chairmanship of Judge Bernard A. Rosenblatt, for the purpose of creating a market in America for the sale of Palestine investment securities, was subscribed to the extent of $265,000 at a luncheon on Monday of business men during the Zionist Convention at Buffalo. One subscription of $50,000 by Mr. Morris Dlugasch of Brooklyn, N. Y., featured the gathering.
An advisory committee was formed, headed by Benjamin Winter of New York. Mr. Winter has associated with him Mr. Solomon Ullmer of Cleveland, president of the Ullmer Bond and Mortgage Co.; Morris Friedberg. Detroit, Mich; Mr. Kranzberg. St. Louis; Dr. A. J. Rongy, New York; Solomon Lamport, New York, H. B. Robbins. New York; Benjamin Mushlin, St. Louis; Max Shulman and Nathan D. Kaplan, Chicago; S. Hennes. Waterbury, Conn; Edward Chase, Manchester, N.H.; and Nathan Pinansky, Boston. The committee is to be increased by representatives from various centers throughout the United States, it was stated.
A commission of the Palestine Securities, Inc., consisting of investment experts headed by Solomon Ullmer of Cleveland, will go to Palestine early in the fall for the purpose of making a survey as to the expansion of home building based upon American principles of building and financing. The commission will also make recommendations as to future issue of first mortgage bonds for homes in Palestine. The first issue of $1,000,000 will provide for the construction of 1,000 homes, which will take care of the housing of more than 1,000 families.
Other subscriptions at the luncheon were those of Louis Topkis. Wilmington, Del., $10,000; Israel Matz, New York, $10,000; Jacob Goell, New York. $10,000; Isaac Meister, New York; Sol Lamport, New York; Bernard Rosenblatt, New York; Morris and J. Friedberg, Detroit; Sol Ullmer, Cleveland; Juda Landau. Buffalo; Dr A. J. Rongy, New York; each $5,000.
I.O.B.A. PROCLAIMS JULY AS A “SESQUI-CENTENNIAL CELEBRATION MONTH”
A proclamation to all the 550 ledges of the Independent Order B’rith Abraham was issued by Judge Gustave Hartman, Grand Master of the Order.
The proclamation declares “the month of July a period of celebration and rejoicing throughout the Order in commemoration of the 150th Anniversary of the birth of our beloved nation and profound gratitude to God for the priceless heritage handed down by the Fathers of this glorious country of ours” and directs that “in every lodge throughout the land appropriate patriotic exercises be held at a designated meeting in the month of July, that the Declaration of Independence be read in full to the assembled members of the Lodges and that the entire membership pledge anew its undying allegiance to the flag and to the United States of America.”
The proclamation also advises the members that the Convention of the Order directed that the Order participate in the Sesqui Centennial Celebration in Philadelphia.