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New Colorado Code Permits State Banks to Purchase Israel Bonds

A new Colorado code enacted into law permits state banks to purchase Israel bonds up to five per cent of their capital and surplus. Prior to enactment of the new code, only national banks could buy Israel bonds.

Adolph Kiesler, regional bond governor, and Henry G. Frankel, Colorado state chairman for Israel bonds, announced the new code. Mr. Kiesler expressed the appreciation of the Israel Bond Organization to State Rep. Ben Klein, and to State Banking Commissioner Henry H. Bloom, who had major roles in the preparation and passage of the measure.

(The Union National Bank of Pittsburgh has purchased $500,000 in Israel bonds this week. A. J. Aberman, a leading member of the Israel Bond Committee, presented the bonds to the bank following completion of the sale.)