Histadrut Fund Raises $606, 00

Simcha Dinitz, Israel’s Ambassador to the United States, urged American Jews last night “not to sink into despair” over Israel’s future. He spoke to 1000 persons attending a “Salute to Israeli Veterans” at the Fontainebleau Hotel at which $605,000 was raised for the Histadrut Mortgage Fund.

Dinitz reaffirmed Israel’s willingness to advance step-by-step toward peace coupled with a readiness to hit back if attacked. He stressed that if Egypt wants peace then Israel “will be a very willing partner.” but if Egypt is heading for war “It is unlikely that Israel will make concessions.” He asserted that Israel “will not trade principles for expediency.”

Commenting on news reports that the Soviet Union has reaffirmed its support for the Arabs. Dinitz said Soviet friendship for the Arabs “is their own business. But if they mean to arm the Arabs with the most modern and sophisticated weapons at a time when so many Arab countries are for the destruction of Israel that is a concern to us.”

Dr. Sol Stein, president of the Israel Histadrut Foundation, announced that the contributions toward the 9.5 percent Histadrut annuity trust would help finance mortgages for Israeli army veterans and newlyweds seeking homes. He said an additional $400,000 was secured during December, bringing this month’s income past the $1 million mark.

Dr. Leon Kronish, spiritual leader of Temple Beth Sholom here and national board chairman of the Foundation, pointed out that “world inflation and the high cost of defense continues to increase the Israeli trade deficit which in 1974 was $3 billion. Long-term commitments to the Histadrut Foundation create capital funds which in years to come will offset the huge debts.”

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