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Los Angeles Labor Union Purchases $50, 000 in Israel Bonds

The Sheet Metal Workers Union, Local 108, AFL-CIO, here, has purchased $50,000 in State of Israel Bonds from the nation’ pension trust fund, it was announced today by W. L. Bassett, secretary treasurer of the L.A. County Federation of Labor AFL-CIO. The purchase marks the second major investment in Israel bonds here by a trade union. Local 770, Retail Clerks Union, made a similar investment last year.

(The purchase of $10, 000 in Israel Bonds on the basis of Israel’s “progress and potential future growth” was made this week by the Merchants National Bank and Trust Company of Syracuse, New York. Thomas W. Higgins, executive vice-president of the bank, announced the purchase at a concert sponsored by the Syracuse Religious Council for Israel Bonds.)