Officers and members of Beth Jacob Congregation, a 27-year-old Orthodox synagogue, expressed their “devotion to Israel” by mortgaging their synagogue for $500,000 to purchase Israel Bonds. The unique project was jointly announced by Dr. Edwin J. Galler, synagogue president, and Larry Frank, past chairman of the Atlanta Israel Bond Committee, who urged other American Jewish institutions to follow their example in order to help Israel. Leo Bernstein, executive vice-president of the Israel Bond Organization, described the unusual nature of the project as a “unique and trailblazing step reflecting the wholehearted commitment of the leaders and members of Beth Jacob to the survival and growth of Israel.”
Negotiations for the mortgage of the synagogue lasted almost a year and involved synagogue and Bond officials, real estate appraisers, Israeli officials and bankers who assisted in working out the mortgage details. Praising the leadership of Frank for spearheading the discussions and negotiations, Bernstein added: “Its pioneering example will most certainly inspire other synagogues and institutions in the U.S. to undertake Israel Bond purchases of comparable size to strengthen the economy of Israel during the on-going crisis on her borders.”
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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.
