New York (Apr. 13)
The net profit of the Palestine Economic Corporation in 1946 amounted to $286,446, after Palestine, British and United States tares had been deducted, Robert Szold, chairman of the board of directors, announced today.
Last year was one of the most profitable in the twenty-year history of the Palestine Economic Corporation, largest American business enterprise in Palestine, Mr. Szold said. Net income was greater only in 1945, when it amounted to $337, 716. “Economically, Palestine is a going concern and fit for investment,” he declared, adding that the Palestine Economic Corporation is continuing steadily its development of low-cost housing projects, direct investments in basic manufacturing undertakings and extension of credits for agricultural improvements.