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Israel Bond Organization Holds Emergency Session; Adopts $30,000,000 Goal

A maximum goal of $30,000,000 in Israel bond sales, to be reached by June 30, was adopted here today at an emergency session of the Board of Governors of the Israel Board Organization.

Dr. Giora Josephthal, treasurer of the Jewish Agency, and Shimon Peres, director-general of the Ministry of Defense, came to this country at the request of Prime Minister David Ben Gurion to address the Board of Governors meeting. Israel Ambassador Abba Eban also spoke at today’s emergency session. Colonel Shlomo Shamir, founder of Israel’s Navy and Air Force, and director-general of Israel Phosphates Corporation, will tour American cities in behalf of the bond drive.

Reporting on campaign results so far this year, Dr. Joseph J. Schwartz, vice-president of the Israel Bond Organization, told the meeting that 1956 Israel bond sales are showing an increase of 31 percent over the same period in 1955. He reported that 342 Trustees–purchasers of $10,000 or more–had enrolled so far in 1956, an increase of 35 percent over the same period in 1955, and 3,738 Guardians of Israel and National Sponsors–purchasers of $1,000 or more–an increase of 11 percent over the same period in 1955.”

Abraham Feinberg, president of the Israel Bond Organization, called for an intensified bond campaign effort. “During the five years since the Israel bond drive was launched,” Mr. Feinberg said, “every sector of Israel’s economy has moved forward. Industrial production has increased from $356,000,000 to $760,000,000 per year; agricultural production has risen from $98,800,000 to $180,000,000 per year; potash, phosphates, oil and other natural resources are being exploited, irrigation is being extended, roads, harbors and railways are being built.”

In a message cabled to the meeting, Levi Eshkol, Israel’s Minister of Finance, termed Israel bonds “a mighty instrument in our economic development.” “At this time of danger.” the Finance. Minister said, “We look to you for redoubled success in giving us the means to carry through our mission.” He stressed that strengthening Israel’s economic position “largely depends on your extra efforts in the special Israel bond drive in these coming weeks.”

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