The Government of Israel deposited $48,258,000 with the Chase Manhattan Bank, its fiscal agent in the United States, today to pay an estimated 40,000 holders of the first Development Issue of Israel Bonds which will mature on Jan. 1, 1969. Pinhas Sapir, Minister-without-Portfolio in the Israel Cabinet, who deposited the check, said it was the largest sum ever paid out by the State of Israel in the U.S. for any purpose. Mr. Sapir was Israel’s Finance Minister when the bonds were issued in January, 1954. They have paid 4 percent interest semi-annually during the past 15 years. He announced the record deposit at a dinner meeting of the board of governors of the Israel Bond Organization attended by more than 400 Jewish leaders from the U.S. and Canada. Present at the meeting were Abraham Feinberg, president of the Bond Organization, Dr. Joseph J. Schwartz, vice president, Samuel Rothberg, national campaign chairman and Henry Montor, first vice president.
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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.
