Israel Minister Reveals Plans Under Way for Launching of Israel Bond Issue in U.S.

Active preparations are under way for launching in the United States a bond issue of the Government of Israel, Eliezer Kaplan, Israel Finance Minister, announced at a press conference here today. Mr. Kaplan also stated that Henry Montor had been selected by Israel to handle the floating of the bond issue.

The Minister emphasized that representatives of major Jewish national organizations in the United States had pledged their fullest cooperation in making the bond issue a success. He drew special attention to the fact that the Zionist Organization of America had taken a sales quote of $100,000,000 of this issue.

Questioned about Israel’s attitude toward private investment, the Minister stated that in addition to the existing machinery for the encouragement of investments, the Government of Israel proposed to enlist the services of a number of American experts in the Government Investment Center. Also, he added, the Investment Center was considering the establishment of an office in the U.S. to assist private individuals interested in making investments in Israel.

Mr. Kaplan denied that there was any discrimination in Israel between cooperative and private investment. He disclosed that charges to this effect were being investigated by a commission headed by Peretz Bernstein, General Zionist leader. Mr. Kaplan promised that the report of this commission would be made public, and expressed confidence that it would show that the charges were unfounded.

ISRAEL’S SYSTEM OF IMMIGRANT CAMPS WILL BE LIQUIDATED BY SPRING

Israel’s system of immigrant camps, which at one time housed more than ten percent of the country’s population, is under process of dissolution and will disappear altogether by next spring, it was reported today to the plenary session here of the Jewish Agency executive.

Under a new procedure called “Operation Homestead,” evolved by the Absorption Department of the Jewish Agency, the overwhelming majority of the 18,000 newcomers arriving monthly in Israel never see the inside of a camp, except for a few days spent at a transit reception center. Most are sent to a new type of workers village, more than 50 of which have already been established throughout the land, it was stated by Yehuda Braginsky and Zvi Herman, co-directors of the Absorption Department.

At the same time the co-directors stressed that “‘Operation Homestead’ has not and cannot solve the colossal housing problem facing the Jewish state.” Their report pointed out that the new workers villages, although they provide a home, some privacy and productive work for their inhabitants, still consist almost entirely of tents. Moreover the Absorption Department, in transforming 15 of the existing immigrant camps into independent communities, has not had the funds to provide permanent housing, and the camp tents continue to be used.

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