The Executive Committee of the Palestine Economic Corporation held a special meeting on Thursday at which reports from Palestine were received and considered.
The Committee fully considered the immediate problems in Palestine in the face of the present situation and particularly re-examined the problem of building small houses suited for the working classes of the Jewish population in town, village and country, in which field of work the Corporation has in the past allocated considerable funds. It was felt that the continuance and further extension of this housing work was one of the most urgent needs to further the agricultural and general economic life and that it would also be a most constructive contribution to cope with the present emergency. The Committee, therefore, voted an additional sum of $250,000 for these purposes.
It was further agreed that $1,000,000 was urgently needed for this work and plans were considered towards securing the balance of $750,000 in the hope other bodies would be able to contribute this amount at an early date.
The President of the Palestine Economic Corporation is Bernard Flexner. Lieutenant Governor Herbert H. Lehman, Felix M. Warburg, and former Senator Nathan Straus, Jr., are among its officers. The late Louis Marshall was an officer and member of the Board of Directors from its inception.