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Ex-ambassador Mcdonald Named Chairman of Advisory Council for Israel Bond Issue

James G. McDonald, who recently resigned after having served as the first U.S. Ambassador to Israel, has accepted the chairmanship of the Advisory Council for the $500,000,000 bond issue to be floated in the United States by the Government of Israel, it was announced today.

Mr. McDonald declared that he had accepted the post of chairman of the Advisory Council for the Israel bond issue because “the economic development of Israel is a matter of direct concern to all American who are interested in strengthening the cause of democracy in the Middle East and other parts of the world.” The Advisory Council will consist of leading Americans who are interested in extending moral support to the Israel bond issue.