NEW YORK (May. 25)
More than 600 leaders of industry, commerce, banking and transportation reaffirmed tonight their support of Israel and their readiness to continue their investment and trade ties with the Jewish State. At the annual dinner of the American-Israel Chamber of Commerce and Industry, the representatives of a cross section of American business heard Nathan Straus III, chairman of the national executive committee of the Chamber, call on members to remember, and "remind others" of the large American stake in Israel’s economy.
"Many thousands," he said, "have invested capital in Israel and several hundred American firms are sharing in Israel’s economic growth. As clouds again gather ominously around Israel’s borders, it is important that it be remembered that Israel — with its many friends on the political and other levels — also has devoted friends in matters of industry, commerce and economic viability."
The Ford Motor Company was presented with the Chamber’s annual Award of Merit, on the occasion of the 30th anniversary of Ford’s operations in Israel and the decision to start assembly of Ford passenger cars in Israel. Accepting the Award from Maxwell M. Rabb, president of the Chamber, Donald N. Frey, vice-president of Ford, reiterated his company’s credo of "participation in the economic growth and the development of all countries where we are welcome. Israel," he stated, "is an outstanding example of the kind of economic progress that can be made by a country that accepts and promotes the free enterprise system."