Jerusalem (Jun. 18)
(Jewish Telegraphic Agency)
Building operations in Palestine during 1926, as compared with the previous year, decreased considerably, according to the Department of Customs Excise and Trade, which published a report here in the “Commercial Bulletin” of the government. This was due to the trade depression that set in towards the end of 1925 as a result of the considerable immobilization of capital in land speculation and forward buying abroad, the report states. The appreciable decrease in the number of independent immigrants entering the country during 1926 is another reason for this decline. Large numbers of laborers were cast out of work as a result of the decline in building operations thereby aggravating the trade depression.
Tel-Aviv which alone invested some Â£E,436,000 in 1925 spent only about Â£E270,000 in 1926. Labor conditions in this town are consequently difficult and this is reflected on the whole life of Tel-Aviv and with varying degrees on the other centres of the country.
Building operations in Jerusalem and Haifa, were more active in 1926 than in 1925 the approximate expenditure for Jerusalem being Â£E393,449 as compared with Â£E226,936 in 1925 and that of Haifa being Â£E156,003 compared with Â£E111,100 during the previous years.
Municipal expenditure of Public Works has increased in 1926 over 1925 by Â£E123,183. Expenditure by the Civil Government on Public Works increased by Â£E61,600.