New York (Dec. 2)
Bernard Flexner, chairman of the board of the Palestine Economic Corporation, in a report on the corporation for 1942, made public yesterday, declared that Palestine should soon be prepared for a substantially larger immigration than in the past. “Housing and means of production and self-maintenance are prerequisites which must be created,” he said. “Our corporation has developed and utilized the methods and apparatus to meet these needs, but it must be enabled to carry on its work on a much expanded basis.”
The Palestine Economic Corporation enables American Jews and others to give material aid on a business basis to productive Palestinian enterprises. Its subsidiaries include the Central Bank of Cooperative Institutions in Palestine, Ltd., Palestine Mortgage and Credit Bank, Ltd., Bayside Land Corp., Ltd., and Palestine Water Company, Ltd.