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Eleven American Bankers Leave for Israel on Study Mission

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Eleven Americans prominent in banking and investment circles left tonight on a two week Bankers Study Mission to Israel under the auspices of the Jewish Agency for Israel, Inc. The eighth of such bankers missions to Israel, which were originated in 1949, the group will study problems pertaining to the resettlement and rehabilitation programs of the Jewish Agency and will advise the Agency with respect to its financial procedures.

The Mission will stop over in Europe en route to Israel. During their stay in Israel the group will be meeting with leading officials of the Israel Government, the Jewish Agency, and representatives of all sectors of the Israel economy. Gottlieb Hammer, executive vice-chairman of the Jewish Agency for Israel, Inc. who is leading the mission, said before departure:

“American banking and insurance interests have cooperated with the Jewish Agency in financing its programs since the establishment of the State of Israel. In extending credit to the Jewish Agency for Israel, Inc., which is the principal beneficiary of the Jewish Agency’s programs at a pace commensurate with the needs of the moment. Thus, the loans extended by them have not only been sound financial transactions but they have also served one of the greatest humanitarian programs in the history of voluntary philanthropy.”

The mission includes: Raymond T. Anderson, vice president, Bankers Trust Company, New York; Raymond Clausen, vice president, Northwestern National Bank, Minneapolis; Robert S. Emison, vice president, First National City Bank, New York; Edgar B. Galloway, vice president, National Bank of Detroit; Harry A. Gentner, financial secretary, Provident Mutual Life Insurance Company, Philadelphia; Ralph F. Miller, second vice president, The Penn Mutual Life Insurance Company, Philadelphia; John E. Motz, president and director, Mercantile-Safe Deposit and Trust Company, Baltimore; Elmer L. Nicholson, president, The Fidelity Mutual Life Insurance Company, Philadelphia; Keith M. Urmy, senior vice president, Chemical Bank New York Trust Co., New York, and John A. Waage, senior vice president, Manufacturers Hanover Trust Company, New York.

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