Leadership Conference Pledges to Sell $80,000,000 in Israel Bonds in 1961

The sale of Israel bonds in 1961 is expected to produce approximately $80,000,000 in new investment capital for Israel, it was indicated here today at the closing session of the two-day National Leadership Conference of the Israel Bond Organization. The Conference decided to provide one-third of Israel’s total development needs amounting to $247,222,000 for this year.

Leaders of the bond campaign from more than 60 cities who attended the conference heard a report from Dr. Joseph J. Schwartz, vice-president of the Israel Bond Organization, in which he said that a total of $51,965,300 in bonds was sold during 1960. Of this total, $41,457,700 was sold in the United States, $4,252,800 in Canada, $4,582,400 in Latin American countries, and $2,692,400 in Europe.

Calling for an extraordinary response in 1961 to the bond campaign, Dr. Schwartz reported that, in dedication to Israel’s Bar Mitzvah, or 13th anniversary, special honor categories of Israel bond purchasers would be established. Purchasers of $13,000 in Israel bonds would be known as Bar Mitzvah Trustees of Israel; and persons who subscribe to $1,300 in Israel bonds would be designated Bar Mitzvah Guardians of Israel. Another category dedicated to housing will be listed as Bar Mitzvah Builders for the purchase of $3,900 in Israel bonds.

Dr. Schwartz announced that the 1961 Israel bond campaign will be formally launched at a 1961 Inaugural Conference for Israel Bonds, which will be held from Friday, March 3 through Sunday, March 5 at the Fontainebleau Hotel in Miami Beach. Abba Eban, Minister of Education of the State of Israel, and its former Ambassador to the United States, will be the guest of honor at the Conference. He also announced that the 75 days beginning October 8th, the 75th birthday of Prime Minister Ben-Gurion, who founded the Israel Bond campaign, would be dedicated to a nationwide celebration of the Israel leader’s diamond jubilee.

Other principal speakers at the conference included Dr. Binyamin Eliav, Israel Consul General; Abraham Feinberg, president of the Israel Bond Organization; Ira Guilden, national chairman of the organization, and Aryeh Manor, Economic Minister of the State of Israel. Mr. Manor outlined Israel’s economic development program.

The conference re-elected Mr. Feinberg as president of the Israel Bond Organization for 1961. Dr. Abba Hillel Silver was elected chairman of the board of governors; Ira Guilden, national campaign chairman; Dr. Joseph J. Schwartz, vice-president; and Jack Weiler, secretary-treasurer.

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