NEW YORK (Jan. 24)
Israel has discovered minerals and metals in the southern part of the country which open an entirely new era for her economic growth, Henry Montor, vice-president of the $500,000,000 State of Israel bond issue, told a meeting of leaders of the bond campaign here tonight.
“Stories in the Bible which seemed part of a legendary past have been fully confirmed by mineralogists in Israel.” he declared. “Mining of phosphates has begun. The tonnage of phosphates now known to be available will become one of the most potent dollar-producing exports for the State of Israel. Proceeds of the bond issue in the United States are the basis for the present expansion of Israel’s mining activities which will revolutionize previous conceptions of the country’s natural resources.”