The Palestine Economic Corporation announces that it has been advised by Emanuel N. Mohl that he intends to tender his resignation and go into retirement on the occasion of his 50th birthday, which falls this month.
Mr. Mohl has served the Corporation since its inception and has rendered valuable service to the company as well as to Palestine.
Among other things, he reorganized the former Kupath Milvah, now the Loan Bank Ltd., from a semi-philanthropic to a social-economic institution. He was important in introducing approved building methods into Palestine and in pioneer work for planning small houses for workers, artisans and farmers at a moderate cost.
He carried on successful negotiations for the acquisition of the Haifa Bay Lands for the Keren Kayemeth L’Israel as well as for this corporation and administering it in conjunction with the Keren Kayemeth L’Israel since then. He participated in the introduction of an American Water Drilling Unit into Palestine which the Palestine Economic Corporation owns and operates in conjunction with the PICA.