As part of a financing program unique for a philanthropic organization, seven major banks have extended for another year the term of the $20,000,000 loan they made last March to the United Jewish Appeal of Greater New York, its treasurer Samuel D. Leidesdorf announced today.
The extension carries into the second year what UJA envisions as a five-year loan program and leaves $16,000,000 still to be paid out of the income of New York UJA drives over a four-year period. The banks participating in the loan are the Manufacturers Trust Co., National City Bank, Bankers Trust Co., Chemical Corn Exchange Bank, Hanover Bank, Marine Midland Trust Co., and Public National Bank and Trust Co.
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