NEW YORK (Jul. 2)
The sale of Israel, bonds has exceeded the half-billion-dollar mark, reaching $500,169,000 as of this weekend, Dr. Joseph J.Schwartz, executive vice-president of the Israel Bond Organization, announced here last night. The amount, he said, was obtained through sales by more then 25,000 volunteers in the United States, Canada, Latin America and Western Europe. Of the total sum, 85.9 percent was sold in the U. S. A. , and 6, 4 percent in Canada.
Pointing to the amount as “the largest, publicly subscribed loan Jin the United States for any foreign country, ” Dr. Schwartz said the Bond organization “must in the immediate future obtain $173,896,150” more to fulfill the requirements of the current, second Israel Development bond issue.
A. A. Feinberg, president of the organization, hailed the achievements to date as “an important milestone in Israel’s development program. ” He said attainment of the half-billion-dollar goal was the objective established in May 1951, when the first bond drive was launched in this country with an address by Israel’s Prime Minister, David Ben-Gurion.