Major Part of Israeli $20,000,000 National Loan Subscribed; Campaign Ends This Month

The Provisional Government of Israel announced today that $18,400,000 of the 1948 $20,000,000 national loan has already been subscribed. The loan campaign will close July 31, the government announcement said. It was also reported that an additional $1,200,000 has already been pledged, leaving only $400,000 still to be raised.

The Israeli Government has decided to establish a “war and marine risk insurance program” and has also agreed in principle to set up a trading company to channelize the Jewish state’s export and import traffic, it was learned here. During the war, British marine insurance companies refused to insure Israel-bound cargoes unless they were transported by British vessels. British shipping companies, however, refused to handle the cargoes.

Despite the war in Palestine, the Jewish reforestation program continued with the planting of more than 500,000 trees at 27 different localities during the last six months, the Jewish National Fund announced to day. The Fund also disclosed that it has acquired 48 parcels of land during the last six months, totalling 3,000 acres.

NEXT STORY