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Sale of Israeli Bonds Launched Throughout U.s.; Z.O.A. Sells $15,000,000 in One Day

May 2, 1951
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The sale of $500,000,000 in Israeli bonds was officially started today throughout the United States by the American Financial and Development Corporation for Israel, of which Henry Morgenthau Jr. is chairman of the Board of Governors.

The first Israel bond purchase was made at a ceremony today at the Sherry Netherlands Hotel where Mr. Morgenthau bought a bond from Eliezer Kaplan, Israel’s Finance Minister, in the presence of other Israel Cabinet members. Mrs. Kaplan, who arrived in New York early this morning on the first flight to the United States by the Israel National Airlines, El Al, said that the launching of the bond issue “represents a significant event in the history of the Jewish people, leading to the economic independence of Israel.”

Benjamin G. Browdy, president of the Zionist Organization of America, announced that the opening day sale of Israeli bonds by the Z.O.A. throughout the country amounted to $15,000,000. In a short wave broadcast to Israel over the Voice of America, Mr. Browdy reiterated the pledge he made personally to Premier David Ben Gurion last September that the Z.O.A. will sell $100,000,000 in bonds. He predicted that on the basis of initial results, this goal will be greatly exceeded.

At a special rally tonight, held by the Z.O.A. in conjunction with the American Financial and Development Corporation at Waldorf-Astoria Hotel, the significance of the bond issue was stressed by Dov Joseph and Golda Myerson, two members of the Israeli Cabinet, as well as by Mr. Morgenthau and Mr. Browdy. The speakers included Henry Montor, executive vice president of the Corporation; Major Shalom Zysman, leader of the General Zionists in Israel, and others. Bond functions were also held tonight by the Mizrachi Organization of American and other Zionist groups.

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