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$29,724,500 in Israel Bonds Sold During First Five Months of 1964

A total of $29,724,500 in Israel bonds was sold during the first five months of 1964, it was reported at the mid-year conference of the Board of Governors of the Israel Bond Organization which concluded here last night.

Mr. Samuel Rothberg, national campaign chairman, pointed out that this result represented an increase of more than 42 per cent over the amount sold during the corresponding period last year. “Substantial purchases by banks, trade unions, pension funds and insurance companies have reflected an increasing amount of confidence in Israel’s economic potential,” he asserted.

Louis H. Boyar, of Los Angeles, chairman of the board of governors, pointed out that since the start of the redemption last year of maturing Israel bonds, the bond program “has become a two-way street,” with payments to American investors in principal and interest by the State of Israel amounting to $24,500,000 in 1963 and an estimated $42,000,000 during 1964.

Major General Haim Laskov, former Chief of Staff of the Army of Israel, who is now serving as the chief of its Port Authority, told the conference that expansion of Israel’s transportation facilities was one of the most important elements in Israel’s development program. “Within the next few years we shall have to handle more than 8,000,000 tons of dry cargo, compared to the 6,000,000 tons that we handle now,” General Laskov said. “This is one important means by which we counter the Arab maritime blockade and commercial blackmail.”

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