The State of Israel Bond Drive has raised $121,000,000 for the expansion of the economic development of Israel in the first 11 months since the launching of the $500,000,000 Independence Bond Issue, Rudolf G. Sonneborn, president of the national bond organization, announced today at a meeting of its board of governors.
Stating that 356,000 persons had already subscribed for the Israel bonds, Mr. Sonneborn declared that “it is our aim to enroll every Jewish family in the United States, in addition to the thousands of non-Jews who are purchasing these Bonds as an investment in a growing democracy.” In a report on the progress of the drive, Mr. Sonneborn emphasized that the bond issue had “already achieved first place in the chain of American financial aid for Israel.” He said that the “State of Israel bond issue has within less than a year become the most important source of assistance for the economic growth of Israel.”
Israel is “well on the road to economic independence as a result of the progress made during the past year with the aid of the investment dollars made available through the Israel bond issue, “Mr. Sonneborn said. As an example of the new opportunities for economic expansion created by the bonds, he pointed to the large-scale mining operations that have recently been started in the Negev, where vast deposits of phosphates, glass and kaolin have been uncovered. The board of governors named Alex Lowenthal national chairman for bond sales.
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