NEW YORK (Dec. 4)
A luncheon meeting honoring Edmund I. Kaufmann, chairman of the board of directors of the American Palestine Trading Corporation (AMPAL), was held here today with more than 750 guests in attendance. The luncheon also served as the organization’s fifth annual stockholders meeting.
Abraham Dickenstein, secretary-treasurer of AMPAL, reported that during the past 12 months AMPAL increased its assets from five to $9,500,000. He said that since the inception of the state of Israel, AMPAL invested $9,000,000 there, $5,000,000 of which was placed during the past year alone. This, he stated, made AMPAL the largest foreign institution to invest in Israel. Mr. Dickenstein also revealed that the dividend rate of AMPAL would be increased to four percent for the past year. Other speakers included Robert R. Nathan, director of the economic department of the Jewish Agency and Aubrey S. Eban, Israel delegate to the U.N.