International Committee for Sale of Israel Bonds Formed

The formation of an international committee to initiate the sale of State of Israel Bonds throughout the free world, was announced today by Henry Montor, vice-president of the Israel Bond Organization, on his return from Europe and Israel, which he visited at the invitation of Prime Minister Moshe Sharett.

While in Jerusalem, Mr. Montor and Mr. Sharett discussed Israel’s program of economic growth, and prepared plans for the launching of Israel’s second Bond Issue–the Development Issue–which will be floated in the United States about April The new Bond Issue will seek to raise $75, 000,000 during 1954, and is part of a larger issue of $350,000,000 to be sold during the next few years.

Mr. Montor indicated that the formation of the international committee for the sale of Israel Bonds was decided upon during discussions with the Israel Prime Minister, who also holds the portfolio of Foreign Minister. These discussion, Mr. Montor reported, resulted in complete agreement on all phase of Israel Bond activity, in the United States and other lands.

Following his conferences with the Prime Minister, of Israel, Mr. Montor visited Italy, France and England to explore the formation of Israel Bond campaign organizations in these countries. He reported that campaign committees have already been set up in Holland and Switzerland, and will soon be functioning in Italy, France, England and the Scandinavian countries.

Israel Bond campaigns have been proceeding during the past year in Canada and a number of Latin American countries, the Israel Bond vice-president added. He noted that branch offices of the Israel Bond Organization are being set up in Paris, France and Montevideo, Uruguay.