London (Jul. 15)
(Jewish Telegraphic Agency)
One and a half million pounds of private capital was invested in Palestine during last year by the Economic Board for Palestine of which Sir Alfred Mond is chairman, the annual report of the Board states.
The Economic Board for Palestine will hold its fourth annual meeting on Monday, July 19 at which the complete report will be presented.
The view that there has been a great deal of development in Palestine in the course of the past year is brought out in the report which gives a detailed account of the activities of the Board and the general economic situation in Palestine during the preceding twelve months.
The report especially emphasizes the fact that the total absence of all port facilities in Palestine is becoming rapidly intolerable and urges that this situation must be remedied immediately if the economic growth of Palestine is not to be retarded. In view of the expanding trade in the country and the Palestine government’s improving financial position, there should be no difficulty in financing the construction of a port if suitable terms are offered, it is pointed out in the report.
The officers of the Economic Board for Palestine besides Sir Alfred Mond are Sir Robert Waley Cohen. James A. de Rothschild. A. I. Belisha, Sir H. B. Cohen, Sigmund Samuel. Lt. Col. H. J. Solomon, Leonard L. Cohen. O. E. D’Avigdor-Goldsmid, Dr. Chaim Weizmann, Joseph Cowen, Dr. G. Halpern and J. H. Kann.