Agency Warns Immigration Strains Finances; Ashdod Housing Dedicated

Jewish immigration into Israel continues “at a steady pace, exceeding the numbers envisaged in this year’s budget estimates,” while expected revenues for immigration and absorption are falling short, Aryeh Pincus, treasurer of the Jewish Agency, reported here today.

Mr. Pincus made his report to a Joint all-day meeting of the executives of the Jewish Agency and the Jewish Agency, Inc., with the two chairmen, Moshe Sharett and Dr. Dewey D. Stone, alternating as presiding officers. Joseph Meyerhoff, general chairman of the United Jewish Appeal, here as head of the 145-member UJA study mission, reported on the progress of the UJA’s efforts on behalf of immigration and absorption financing.

Mr. Pincus, summarizing the financial situation as of the first half of this year, stated that, unless incomes are increased, “the Agency would be obliged to incur further debts to meet the needs of the Aliyah organization and the commitments towards housing and initial absorption of the immigrants.”

The dedication of several hundred housing units in Ashdod, a project financed through the American Associates Company, was held today in the presence of the UJA mission members now touring Israel. During the ceremonies. Housing Minister Yosef Almogi presented Jack Weiler, a member of the mission and chairman of American Associates, with a certificate of appreciation for his part in having set up the company.

The Housing Ministry has built over 2,000 housing units in various parts of the country, financed by American Associates. The company itself invested $1,000,000 in the housing scheme, and secured loans totaling $9,000,000–half of this amount from a group of American insurance firms.

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