The Israel-America Line has declared its first net dividend of six percent to its stockholders, it was announced in New York yesterday by R. Recanati, general manager of the line and president of the American-Israeli Shipping Co., general agents of the Line in the Western Hemisphere.
Mr. Recanati disclosed that the Israel-America Line had saved the Jewish state between $2,000,000 and $2,500,000 of foreign currency as a direct result of its ability to carry its share of Israel cargoes. Within a seventeen months’ period, since the inception of the Israel-America Line four Canadian Victory Vessels, the S.S. Haifa, S.S. Tel Aviv, S.S. Akko and S.S. Yaffo, with a tonnage of 10,500 tons each, were purchased by the Line. This tonnage now comprises about 30 percent of the present entire Israel merchant marine.
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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.
