The 1977 cash receipts of the Israel Bond Organization amounted to a record figure of $331,540,000, it was announced by Sam Rothberg, general chairman and Michael Arnon, president. The proceeds for last year showed an increase of more than $20 million over 1976. In each of the last three years Israel Bond receipts reached a higher figure than the previous year. Total sales since the launching of the first Israel Bond issue in the United States in 1951 amounted to $3.85 billion, of which Israel has already repaid more than $1.7 billion in redemptions.
Declaring that the 1977 total was the largest in the history of the Israel Bond Organization with the exception of the year of the Yom Kippur War (1973), Rothberg said it was “indicative of a high degree of solidarity with the people of Israel and a recognition of the decisive impact of Israel Bonds on Israel’s economic progress and hopes for peace.”
Arnon observed that a substantial portion of the increased 1977 results was due to wider participation of institutional purchasers including banks, pension funds, labor unions, and commercial, educational, and religious organizations. The general business community accounted for more than 25 percent of the Israel Bond receipts last year, he said.
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