LETTER TO HOWARD A. RUSK, M. D. FROM(Sanitized)

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80B01676R004100210001-5
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 14
• Document Creation Date: December 12, 2016
• Document Release Date: June 12, 2002
• Sequence Number: 1
• Publication Date: October 31, 1961
• Content Type: LETTER

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ER 61-8433/a
Howard A. Ruth, K. D.
Praaid=t, World Reb b litatlon
Fund, Inc.
400 mm t 3!&th Street
Now Try 16, Rev York
Just before Mr. DW.I*s left him mice for a
trip out of the city, et asked r* to ov.Le .
*ad t k yvu very ma h for your letts of 2a October
and for the enclosed serial un the- I_ ;rid xehahii:itation
od, Inc.
)'. Du1 ee
your tboughtfulwns in ____
and I have tam 'fit iikcr of fc & ' .u j i u to aL4W
of our people tore for t2 eir I t :or .tt z and further
atuly.
Sincerely,
SUED
STAT
O/DCI 31 Oct 61)
Distribution:
Orig. - Addr
1 - JEE
-f-- Chief, 10 Division w/basic and encl.
1 - AAB
1 - ER
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-?'104'36
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833/+
j Oct 6].)
Distribution:
Orig., - Addr
1 - Dci
1 - tmi of , 10 Division ir/basic and encl.
1 - LAB
3.---- ER
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wo &eha"4ati 2n Cana, inc.
400 EAST 34TH STREET
NEW YORK 10. N. Y.
BERNARD M. BARUCH
HERBERT HOOVER
HARRY S. TRUMAN
ALBERT SCHWEITZER, M.D.
Secretary-Treasurer
EUGENE J. TAYLOR
Board of Directors
(in formation)
JOHN S. ALLARD
ELMER H. BOBST
THOMAS D'ARCY BROPHY
GARDNER COWLES
RALPH K. DAVIES
OSCAR GETZ
MRS. BERNARD F. GIMBEL
ROBERT K. HAAS
MRS. WILLIAM HALE HARKNESS
DAVID M. HEYMAN
PAUL G. HOFFMAN
HENRY H. KESSLER, M.D.
GEORGE L. KILLION
ROGER F. LAPHAM, M.D.
MRS. ALBERT LASKER
RUSSELL V. LEE, M.D.
LOUIS R. LURIE
CHARLES W. MAYO-, M.D.
LEONARD W. MAYO
JAMES WESLEY McAFEE
JOHN E. McKEEN
NORMAN VINCENT PEALE
EDGAR M. QUEENY
MRS. ANNA ROSENBERG
HOWARD A. RUSK, M.D.
DAVID SARNOFF
W. P. SHEPARD, M.D.
P. C. SPENCER
MISS MARY E. SWITZER
EUGENE J. TAYLOR
ARTHUR K. WATSON
October 24, 1961
Dear AIIen:
I am pleased to share the attached with you.
With alI good wishes, I am,
Sincerely,
Howard A. Rusk, M.D.
Encs. President
Mr. Allen Dulles
Central Intelligence Agency
Washington 25, D.C.
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WORLD REHABILITATION FUND, INC.
Projects
July 1, 1960 - June 30, 1961
During the 1960-1961 academic year full or partial fellowships were provided for 55
trainees.(39 physicians and 16 non-physicians) for long-term advanced training in
rehabilitation in the United States from. Australia, Belgium, Brazil, Colombia, Denmark,
Egypt, France, Free China, Greece, Haiti, Iceland, India, Iran, Israel, Japan,-Kenya, Korea
Lebanon, Mexico, Nicaragua, Nigeria, the Netherlands, Panama, Peru, Portugal, the
Philippines; Spain, Sierra Leone, Venezuela, Viet Nam and Yugoslavia.
Included in the above were the following name fellowships-
A Pfizer Fellowship in Rehabilitation for advanced study in the United States -
Dr. Maria da Graca Campos Andrada, Portugal.
A Pfizer Fellowship in Rehabilitation.foradvanced study in the United States -
Dr. Haroldo Campos Gu i maraes, Brazil.
A Smith Kline & French Fellowship in. Rehabilitation for advanced study in
the United States - Dr. Leobardo Ruiz, Mexico.
A Sinclair Oil Corporation Fellowship in Rehabilitation for advanced study in
the United States - Dr. Gilberto Montenegro, Venezuela.
A Sinclair Oil Corporation Fellowship in Rehabilitation for advanced study in
the United States - Dr. Jorge Dao, Venezuela.
A Sinclair Oil Corporation Fellowship in Rehabilitation for basic and pro-
fessional training in physical therapy in the United States - Mrs. Anna Krinitzky,
Venezuela.
The Donald Dabelstein Memorial Fellowship for advanced study in special
education of handicapped children - Professor Branko Bajic, Yugoslavia.
A Betsey Barton. Fellowship in Rehabilitation for advanced study in the United
States - Dr. B. Adebenojo, Nigeria. The Fellowship was made possible through
a contribution of Aaron E. Norman Fund, Inc.
A Betsey Barton Fellowship in Rehabilitation for clinical training in physical
therapy in the United States - Miss Lien Thie Doan, a nurse, Viet Nam. The
Fellowship was made possible through a contribution of Aaron E. Norman Fund,
Inc.
A Merck Sharp & Dohme International Fellowship in Rehabilitation for advanced
study in the United States - Dr. Murk Schoap, the Netherlands.
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The Bell Greve Memorial Fellowship in Rehabilitation for advanced study in the
United States - Dr. Carlos Mora-Mora, Colombia.
The Frank H. Rowe Memorial Fellowship in Rehabilitation for advanced study in
the United States Dr. D. Dowie, Australia. The Fellowship was made possible
through a contribution of the Smith Kline & French Foundation.
The American President Lines Fellowship in Rehabilitation for advanced study in
the United States - Dr. H. Ishida, Japan.
The Charles Poore, Jr. Memorial Fellowship in Rehabilitation for advanced study
in the United States - Dr. Mary Verghese, India. The Fellowship was made
possible through a contribution of IBM World Trade Corporation. and Mrs. David
M. Heyman.
The.William J. Donovan Memorial Fellowship in Rehabilitation for advanced
study yin the United States - Dr. Hong Kun Lee, Korea.
The - rown. Zel lerbach Foundation Fellowship in Rehabilitation for advanced study
in the United States - Dr. Radha Mohan, India.
A Reader's Digest Fellowship in Rehabilitation for advanced study in the United
.States - Dr. Jose Suescun, Spain.
.,A Reader's Digest Fellowship in Rehabilitation for advanced study in the United
. States - Dr. Takeo Hara, Japan.
The Dr. Simon Baruch. Memorial Fellowship in Rehabilitation for advanced study
in the United. States - Dr. Guillermo L. del Castillo, the Philippines.
A three-month fellowship was awarded to a physician from the Philippines for advanced
study of rehabilitation in the United States (Dr. Abelardo M. Inocentes).
A fellowship was given to a physician from Haiti for four weeks advanced study in the
United States (Dr. Jean Bourand).
A five-month fellowship was awarded to a physician from Mexico for advanced study
of rehabilitation in the United States (Dr. Ramon Brea Messina).
Fellowships for three months' advanced study in the United States were provided for
an. administrator and a teacher of the blind from Haiti (Miss Thelma Bryan and Miss Anna
Bernard).
A partial tuition. fellowship. was awarded to a physical therapy student from Haiti (Miss
G i nette Dreyfuss).
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An American Express Company Fellowship was created for advanced training in the United
States for a physician from Pakistan.
Through a grant from the Aaron E. Norman Fund two Betsey Barton Fellowships for training
in. the United States were created. for rehabilitation trainees from.Africa and Asia.
A Pfizer Fellowship in Rehabilitation for advanced training in the United States was
created for a physician from another notion.
Throvgho contribution from the General Dynamics Corporation the publication "Under-
standing Aphasia" was translated into Portuguese for distribution in Brazil and Portugal
A Crown Zellerbach Fellowship in Rehabilitation for advanced training In the United
States was awarded a physician from Mexico.
,A Merck Sharp & Dohme Fellowhip in Rehabilitation for advanced training in the United
States was made available for a physician from India.
A Merck Sharp & Dohme Fellowship in Rehabilitation for advanced training in the United
States was created for a physician from another nation.
The Arde Bulova Memorial Fellowship for advanced training in the United States was
created for a physician from another nation.
Reader?s Digest Fellowships for advanced training in the United States were created
for physcians from France, Italy, Mexico and Brazil.
A Revlon Fellowship in Rehabilitation for advanced training in the United States was
created for a .physician from Argentina.
A Rebecca B. Rose Memorial Fellowship for advanced training in the United States was
created for a physician from another country.
Through a grant from the Gustavus and Louise Pfieffer Research Foundation a Matthew G.
Harold Memorial Fellowship for advanced training in the United States was created for a
physician from another notion.
An Anheuser Busch Fellowship in Rehabilitation for advanced training in the United States
was created for a physician from Germany.
The International Seminar on Special Education, held at West Point, N.Y., August 25-
27, 1960, was supported by the World Rehabilitation Fund through a grant from Lilly
Endowment, Inc.
Equipment, supplies and services of a French-speaking bracemaker were provided to con-
duct a seven-week training program In- Port-au-Prince for 6 Haitian bracemakers.
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A grant was given for physicians from Nicaragua, Nigeria and Sierra Leone to attend the
Third. International Congress on Physical Medicine in Washington, August 21-26, 1960.
A grant was given to 21 international trainees to attend the American Orthotics and
Prosthetics Association's Assembly, New York City.
.Tuition . fees for the Third International Prosthetic Course, held at New York University
Medical Center in. August, 1960, were paid for 30 physicians, therapists and prosthetists
from. Brazil, Turkey, Chile, Mexico, Denmark, Greece, India, France,Australia,
Portugal, Guatemala, Canada, Lebanon, the Netherlands, Free China, the Philippines,
Colombia, Yugoslavia, South Africa, Argentina and Japan.
Travel grants and maintenance were provided for a physician from Venezuela undertaking
long-term post-graduate training in the United States to attend a seminar on. Hansen's
Disease.(leprosy) at the U,S. Public Health Service Hospital, Carville, Louisiana and at
Johni Hopkins University, Baltimore, Maryland.
A travel grant was given for an orthotist from Lebanon to attend a brace-making,course in.
Copenhagen, Denmark.
A fellowship for one month was awarded to a medical worker from the Congo; to observe
at the Institute of Physical Medicine and Rehabilitation.
A fellowship for two months was awarded to a psychologist from Poland.
The services of a Spanish-speaking brace-making instructor were provided for consultation
services in Guatemala, Costa Rica and Panama and to conduct a short course for four
trainees in Nicaragua.
A partial fellowship was provided for a social worker from India to undertake advanced
training in rehabilitation in the United States.
A partial tuition.fellowship was awarded to a physical therapy student from Israel .
A grant was made to the Haitian. Association for the Handicapped to maintain the hostel
for children living outside of Port-au-Prince receiving rehabilitation services at the St.
Vincent's School.
A travel grant was made to an American physical therapist to serve as a consultant for
one year at the Rehabilitation Center "Les Charmiles" in Valenton, France.
Tuition fellowships to attend the International Post-Graduate Cerebral Palsy Course given
at the Institutefor the Crippled and Disabled were provided a physician from Brazil and a
physical therapist from Trinidad.
A grant was made to the Christian Approach Mission, Viila Salem, Belt Lahm, Hashemite
Kingdom, Jordan.
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A grant was made to Comeback, Inc. to assist in financing the production and international
distribution of a motion picture on therapeutic recreation.
A grant was made to assist in the financing of a children's rehabilitation center being
developed by the International Union for Child Welfare, La Paz, Bolivia.
A travel grant was made to an American social worker for work-experience in social
service in rehabilitation of physically handicapped in France.
A gravel grant was made to a French occupational therapist to come to the United States
for advanced training at the Kennedy Memorial Hospital in Boston.
Rehabilitation Bookshelves in French, English and Spanish were provided rehabilitation
centers in Haiti, Brazil, Peru, Costa Rica, Puerto Rico, France and Chile.
A grant was made to support the publication of the book "Special Education on. Physically
Handicapped Children In Western Europe", by Drs. Wallace W. Taylor and Isabelle
Wagner Taylor by the International Society for Rehabilitation of the Disabled.
A grant was made to provide two experts, one from the United States, to attend a con-
ference on rehabilitation of patients with leprosy, held at Christian Medical College,
Vellore, India, November, 1960, under the auspices of the World Health Organization,
the International Society for Rehabilitation of the Disabled and Leonard Wood -Memorial.
Two American experts were provided for consultation services on the development of
rehabilitation services in Iran, Turkey, Lebanon, Israel, Greece and Yugoslavia in
November, 1960.
Grants were made for program support of the International Society for Rehabilitation of
the Disabled.
An American expert was provided to attend the Fourth International Prosthetic Course,
July 3-15, 1961, Paris, France.
A grant was made, in cooperation with the Reader's Digest Foundation, to the International
Society for Rehabilitation of the Disabled to create the Reader's Digest Foundation Inter-
national Awards in Rehabilitation to be presented at the 9th World Gongress, International
Society for Rehabilitation of the Disabled, Copenhagen, Denmark in June, 1963.
With the cooperation of the George and Margarita Delacorte Foundation, a grant was
made to the International Society for Rehabilitation of the Disabled to publish the
proceedings of the Eighth World Congress of the International Society.
Registration fees were paid and housing provided for a number of delegates from outside of
the United,States to attend the Eighth World Congress of the International Society for
Rehabilitation of the Disabled held in New York in August, 1960.
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An-American expert was provided for consultation in rehabi I itation. services in Haiti,
July, 1960.
An American expert was provided for consultation in rehabilitation services in Mexico,
July, 1960.
An American expert was provided for consultation in rehabilitation services in Brazil
and Peru, November 10-25, 1960.
An American expert was provided to attend the International Conference of Social Work
in Rome in January, 1961.
Two American experts were provided for consultation in rehabilitation services in Puerto
Rico,. February 24 to March 2, 1961 .
A travel grant and a portion of expenses were provided to an American physical therapist
to serve as a consultant to the Lionel Cooper Hospital in Valparaiso, Chile, in March,
1961.
An American expert was provided for consultation in volunteer services in Peru, Chile,
Argentina and Brazil in the spring of 1961 .
An American expert was provided for consultation in rehabilitation services in El Salvador,
Nicaragua and Costa Rica in March and April, 1961 .
An American expert was provided for consultation in rehabilitation in Mexico, March 22
through March 26, 1961 .
An American expert in electromyography as related to rehabilitation was provided for
consultations and conferences for rehabilitation centers in. Spain, Denmark, Italy, England
and Portugal.
The services of a Spanish-speaking instructor in brace making were provided to install
equipment, provided by CARE, for a new brace. shop at the St. Vincent's School for the
handicapped, Port-au-Prince, Haiti, and used prostheses and prosthetic supplies were
provided the School.
Subscriptions to professional literature were provided to rehabilitation centers in Korea,
Haiti, Venezuela, Puerto Rico, Cuba, Argentina, El Salvador, Colombia, Guatemala,
Chile., Spain, Poland, Brazil, Lebanon, Bolivia, the Philippines, Burma, Ireland and
South Africa.
Books, monographs and professional publications were provided to foreign physicians and
sent to rehabilitation. centers in Egypt, Belgium, Australia, Brazil, Japan, Iran, Korea,
Jamaica, Yugoslavia, India, Colombia, Lebanon, the Netherlands, Italy, Finland, the
Philippines and Poland.
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Rehabilitation equipment and new brace components were provided to the National
Orthopedic Hospital, Manila, the Philippines.
In cooperation with the National Orthopedic Hospital in Manila, two upper extremity
prostheses were provided a nine year old girl In the Philippines who has congenital
shoulder disarticulations.
Rehabilitation equipment was provided to a rehabilitation center in. Burma.
Prosthetic supplies were provided to the new brace shop at American University in Beirut,
Lebanon.
Rehabilitation equipment was provided to the Lionel Cooper Hospital, Valparaiso, Chile.
A shipment of used artificial limbs and braces was provided for a new rehabilitation
center started in Nicaragua.
Two model braces and a supply of new orthotic parts were provded to a children" center
I n Jordan.
Two prostheses were provided to two double extremity amputees in Chile.
In cooperation with the Committee for the Handicapped, People-to-People Program;
Veterans Administration; Office of Vocational Rehabilitation, Department of Health
Education and. Welfare; CARE; Catholic. Relief Services - National Catholic Welfare
Conference; Church World Service. and the American Korean Foundation, approximately
6,000 used but serviceable artificial limbs and braces were shipped to rehabilitation
centers in Korea, the. Philippines, Haiti, Pakistan, Chile, Peru, Greece, Italy, Ecuador,
.India, Egypt, Iran, Yugoslavia, Costa Rica, Israel and Turkey.
The World Rehabilitation. Fund acted as the agent for the purchase of equipment, provided
some. equipment, and paid the shipping costs.for all equipment for new brace shops for
the Central Military Hospital and the Hospital San Juan de Dios in Lima, Peru.
The World Rehabilitation Fund acted as the purchasing agent for the purchase of equip-
ment for a prosthetic shop and a rehabilitation center for the Cola Nacional de Seguridad
Social,. La Paz, Bolivia.
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Report of the. President to the Board of Directors of the
WORLD REHABILITATION FUND,. INC.
October 16, 1961
The fiscal year ending June 30, 1961, was the fifth full year of operation for the World
Rehabilitation. Fund, Inc. During the year the World Rehabilitation Fund suffered a
great loss through the death of our fellow Board members Walter Bedell Smith and Harry
D. Henshel, Sr.
At the annual meeting, held in December 1960, the undersigned was re-elected President;
Mr. Eugene J. Taylor was. re-elected Secretary-Treasurer; and Mrs. Mary Lasker, Mrs.
Anna Rosenberg, Mr. John S. Allard, your President and your Secretary-Treasurer were
re-elected to the Executive Committee. At the meeting Mr. Oscar Getz and Mr. Louis
R. Lurie were elected to the Board of Directors, and at a subsequent Executive Committee
meeting, it was voted to extend an invitation to William P. Shepard, M.D., to become
a member of the Board.
Program
The provision of fellowships for physicians and other rehabilitation personnel to come to
the United. States for long-term advanced training continued to be the major activity of
the World Rehabilitation Fund. During the 1960-1961 academic year full or partial
fellowships were provided for 55 trainees (39 physicians and 16 non-physicians) for long-
term advanced training in rehabilitation in the United. States from Australia, Belgium,
Brazil, Colombia, Denmark, Egypt, France, Free China, Greece, Haiti, Iceland, India,
Iran, Israel, Japan, Kenya, Korea, Lebanon, Mexico, Nicaragua, Nigeria, the
Netherlands, Panama, Peru, Portugal, the Philippines, Spain, Sierra Leone, Venezuela,
Viet Nam, and Yugoslavia.
The number of trainees during the year was somewhat less than in previous years due to
the new regulations of the Educational Council for Foreign Medical Graduates which
require that all physicians coming to the United States for post-graduate training have
their credentials evaluated and successfully pass an examination of professional and
English language competency. The number of trainees for the 1961-1962 and 1962-
1963 academic years, however, will be substantially greater than during the 1960-
1961. academic year.
One major highlight of the year was the Eighth World Congress of the International Society
for Rehabilitation of the Disabled (formerly Welfare of Cripples) held in New York in
August-September, 1960. Over 4000 persons from 71 nations attended the meeting making
it the largest of such international meeting ever held. The World Rehabilitation Fund
provided both financial and. program support for the Congress and for the Third International
Prosthetic Course held at New York University,. and the International Seminar on Special
Education held at West Point just prior to the Congress.
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Your President served as President of the Congress and your Secretary-Treasurer as Chair-
man, Committee on. Public Relations, and Editor of the Congress Proceedings. Dr. Kessler
and. Mr. Mayo served as Co-Chairmen of the Program Committee. Other members of the
Board, particularly Mrs. Bernard. F. Gimbel, Miss Mary E. Switzer, Mr. Robert K. Haas,
and Mr. Thomas D'Arcy Brophy, played major roles in the Congress.
Miss Switzer was one of the three recipients of the Albert Lasker Award in international
rehabilitation provided by the Albert and Mary Lasker Foundation.
Through funds made. available by the George and Margarita Delacorte Foundation, the
World Rehabilitation. Fund made a grant to the International Society for Rehabilitation of
the Disabled for the publication of 40,000 copies of the Congress Proceedings. With
funds made available from the Lilly Endowment, Inc., the World Rehabilitation Fund made
a grant to the International Society for Rehabilitation of the Disabled. for publication of
the proceedings of the International Seminar on. Special Education.
Another significant new program development was the launching of a project through
which used but serviceable artificial limbs and braces are contributed by individuals and
organizations in the United States and sent to other nations where such items are greatly
needed. Working in cooperation with the Committee on the Handicapped, People-to-
People Program; Veterans Administration; Office of Vocational Rehabilitation, Depart-
ment of Health, Education, and Welfare; CARE; Catholic Relief Services - National
Catholic Welfare Conference; American Korean Foundation; and Church World Service,
the World Rehabilitation Fund has provided the program leadership and administrative
services for this program in which approximately 10,000 used but serviceable artificial
limbs and braces with a value of $750,000.00 have been sent to 21 nations.
In July-August, 1960, a French-speaking Spanish prosthetist-brace maker was provided
to teach a seven-week course for six brace-making trainees in Haiti. In June, 1961 ,
he returned to Haiti to supervise the installation of a new braceshop provided by CARE
for the St. Vincent's School for the Handicapped and to instruct the staff in its use.
During the year equipment and/or professional publications on rehabilitation were
provided. for programs in Haiti, Nicaragua, Venezuela, Jordan, Bolivia, Korea, El
Salvador, Argentina, Colombia, Guatemala, Chile, Spain, Poland, Brazil, Lebanon,
the Philippines, Burma, Ireland, South Africa, Mexico, Egypt, Belgium, Australia,
Iran,. Japan, Jamaica, Yugoslavia, India, the Netherlands, Italy, and Finland.
Short-term fellowships. for study in the United States were awarded to physicians from
the Philippines, Haiti, Brazil, and Mexico; an administrator and a teacher of the
blind from Haiti; a medical technician from the Congo; a psychologist from Poland;
a physical therapist from Trinidad; a social worker from India; and partial tuition
fellowships were provided physical therapy students from Israel and Haiti.
With funds made available from the Lilly Endowment, Inc., the World Rehabilitation
Fund made a grant to the International Society for Rehabilitation of the Disabled for the
publication of the 497 page book "Special Education on PhysicallyJ-iandicapped Children
in- Western. Europe" by Drs. Wallace W. Taylor and Isabelle Wagner Taylor.
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During the year your Presidentvisited and provided consultation services in Greece, Iran,
Jordan, Turkey,. Lebanon, Israel, and, Yugoslavia, and your Secretory-Treasurer visited
and provided consultation services in Haiti, Mexico, Brazil, Peru, Portugal, and Italy.
Assistance was. provided other. American experts in rehabilitation. to provide consultation
services:i.n. Chile, Peru, Argentina, Brazil, Yugoslavia, Iran, Turkey, Lebanon, Greece,
Israel, Costa Rica, Nicaragua, El Salvador, France, Jordan, Spain, Denmark, Italy,
England, and. Portugal.
During the year the World Rehabilitation Fund participated directly or indirectly through
grants or purchases of equipment in the establishment of a prosthetic shop, and a reha-
bilitation center for the Coja Nacional de Seguridad.Social, La Paz, Bolivia, and for
brace shops of the Central Military Hospital and Hospital San Juan de Dios, Lima, Peru.;
Finances
During the year the Fund had income from contributions and other resources of $254,902.07.
The Fund started the fiscal year on July 1, 1960, with a balance of $24,946.28, and
ended the fiscal year on June 30, 1961, with a balance of $63,413.18. Disbursements
during the year totalled. $216,488.89. Not included in the financial statement or the
above figures were the contributions of used braces and prostheses and other rehabilitation
equipment valued at $750,000.00.
Administrative and fund-raising expenses during the year totalled $15,016.96 or 6% of
total income. The Fund, however, received from the Albert and Mary Lasker Foundation
a contribution specifically given. to meet a portion. of these expenses. Total fund-raising
and administrative costs, therefore, represent about 3.5% of other cash income. If con-
tributions of "goods in. kind" of $750,000.00 is included as income, total income was
$1,004,902.07. Thus fund-raising costs and administrative costs were 1 .4% of total
income in both cash and "goods in kind."
Not reflected in. the above is the World Rehabilitation. Fund San Pablo Fund of Philippine
pesos contributed by General Foods Corporation to support the San Pablo Rehabilitation
Center. This fund. balance was 184,214.22 Philippine pesos at the beginning of the year
and. 178,091.22 Philippine pesos at the end of the year. During the year, 4,524.00
Philippine pesos accrued to the fund through interest and expenditures were made of
10,697.00 Philippine pesos. The official exchange rate for 1 Philippine peso was
$.4992 at June 30, 1961,. and $.45 at June 30, 1960.
Summary
The fiscal year ending June 30, 1961, was the most successful year in the history of the
World. Rehabilitation Fund both in Income and in activities. Your President expresses
his deep gratitude to his fellow members of the Board of Directors, the Fund staff, our
contributors and the agencies and organizations who made these achievements possible.
Respectfully submitted,
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President
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