New leadership and a new campaign setup were organized today for the worldwide operations of the State of Israel Bond Organization involving the raising of $350,000,000 for the economic development of Israel in the next few years. At a meeting of more than 100 key American Jewish business and communal leaders at the Waldorf-Astoria Abraham Feinberg noted Jewish leader, was elected president of the Development Corporation for Israel the sole underwriter of Israel bonds.
Mr. Feinberg, who presided at the first meeting of the board of governors of the new organization, declared that the objective of the Israel bond campaign in the United States Canada, Latin America and Western Europe was to bring the sale of Israel Development Bonds to $100,000,000 by the end of 1955. The purpose of the development bonds, Mr. Feinberg said is to provide investment capital for the expansion of Israel’s agriculture the development of industry and electric power the exploitation of natural resources and the expansion of harbors, railways and communications.
Mr. Feinberg is widely known throughout the country for his leadership in various programs for Israel and other causes. He is president of the America Committee for the Weizmann Institute of Science. He is also chairman of the board of trustees of Brandeis University and chairman of the New York section of the Harry S. Truman Library Committee. Jack D. Weiler a national campaign chairman of the UJA. was elected treasurer of the newly constituted Israel bond organization. Dr. Joseph J. Schwartz, whose appointment as vice-president and executive head of the organization was announced last week was officially inducted at yesterday’s meeting.
The board of directors of the new corporation will also include Morris W. Berinstein of Syracuse, a national campaign chairman of UJA. Joseph Shulman of Paterson, N.J., a member of the national campaign cabinet of the UJA. and Dewey D Stone, of Brockton Mass., national chairman of the United Israel Appeal.
DR. SCHWARTZ ANNOUNCES NATIONAL BOND CONFERENCE FOR SEPTEMBER
Outlining the plans for the campaign, Dr. Schwartz announced that a national mobilization conference would be held in Washington September 9-11 Dr. Schwartz will make a special tour of key cities in the Middle West and the Eastern seaboard beginning tomorrow in order to inaugurate intensive sales activities during the month of June. In a statement of policy, the new executive head of the organization said.
“The State of Israel looks to the Jews of America to continue and intensify their support of Israel bonds through the Development Corporation for Israel. The D.C.I. has only one function – and that is the mobilization of Jewish communities for a large scale effort commensurate with the strategic importance of Israel bonds for the economic security and expansion of the State of Israel.
“It is our responsibility to carry out to the full our pledge to the State of Israel to conduct the Israel bond drive on a basis of maximum effectiveness Accordingly we shall seek to encourage and stimulate year-round Bond-selling activities based on the underlying principle of community cooperation and harmonious community relations. We look to all devoted friends of Israel to make the purchase of Israel bonds an indispensable part of their activities for Israel’s future.”
In addition to the officers and other members of the board of directors. Mr. Feinberg announced that the following leaders had been named to the executive committee of the D.C.I. Jacob Blaustein honorary president of the American Jewish Committee; Dr. Israel Goldstein, president of the American Jewish Congress: Philip M. Klutznick, president of B’nai B’rith; Samuel Leidesdorf, treasurer of the United Jewish Appeal of N.Y.; Emanuel Neumann, chairman of the administrative committee of the Zionist Organization of America, and Edward M. M Warburg, president of the United Jewish Appeal and chairman of the Joint Distribution Committee.
Among the other Key American Jewish communal leader who joined the D.C.I. executive committee are Herbert R. Abeles of South Orange, N.J., Judge Henry L. Burman of Chicago; Samuel H. Daroff of Philadelphia, Mrs Albert Farber of Elkins Park. Pa.; Fred Forman of Rochester of N.Y., Sam Genel of Philadelphia; Julius Ginsburg of Chicago; Kalman S. Goldenberg of Minneapolis, Joseph Holizman of Detroit; Lawrence G Laskey of Boston; Judge Louis E. Levinthal of Philadelphia Phil W Lown of Lewiston-Auburn, Maine; Sol Luckman of Cincinnati; Joseph Moverhoff of Baltimore; Edward D Mitchell of Los Angeles, Barney Rapaport of Hartford Conn Charles J. Rosenbloom of Pittsburgh. Louis Segal of New York; Mrs Michael A Stavitsky of East Orange, N.J. Phillip Stollman of Detroit and Philip Zinman of Camden N.J. Mr. Feinberg explained that in the coming days other leaders are soon to be added to the executive committee of the Israel bond organization.
Prime Minister Moshe Sharett and Finance Minister Levi Eshkol of Israel hailed the new leaders of the Israel Bond Organization in cables addressed to Mr. Feinberg and Dr. Schwartz. The Israel Prime Minister emphasized that Israel will not be able to achieve “security and stability” without the aid of the economic development program that is financed through the sale of Israel bonds.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
