NEW YORK (May. 8)
More than $3,000,000 in new Israel bonds were sold last Monday, the day the State of Israel made the final payment on the redemption of the first Israel bond issue, it was reported today by Dr. Joseph J. Schwartz, vice-president of the Israel Bond Organization. These purchases were made by subscribers to the old bonds which were redeemed on the day Israel paid out $31,000,000 to retire the Independence Coupon Bonds which were issued during the three-year period beginning May 1, 1951.
Reports from various communities throughout the country indicated, Dr. Schwartz said, that the occasion of the completion of the redemption of the first Israel bonds had resulted in a “strong upsurge” in Israel bond sales not only to holders of bonds which reached the maturity date on May 2nd, but to many other individuals “who wished to celebrate Israel’s growing economic progress through direct participation in its continuing development.”