More than $3,000,000 worth of bonds issued by the non-profit Amun-Israeli Housing Corporation, were subscribed by labor organizations at a luncheon conference attended by 150 A.F.L. and C.I.O. union officials at the Hotel Astor.
Proceeds of the bonds will be used to help finance the construction of largescale low-cost housing in Israel. The recently-organized corporation is the first joint financial enterprise of business and labor. Persons of all faiths are among its officers and directors.
Speaking for his union, which subscribed $1,000,000 from its treasury and set $2,000,000 additional as a goal for purchases by individual members, David Dubinsky, president of the International Ladies Garments Workers Union, said: “This enterprise is soundly conceived as a financial investment and as an investment in human welfare.” Jacob S. Potofsky, president of the Amalgamated Clothing Workers of America, pledged that locals of his union in the New York area alone will purchanse $500,000 in bonds. Israel Ambassador Eliahu Elath spoke of the acute housing shortage in the Jewish state.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
