P.e.c. Offers New Issue of Stock for Sale As Part of Israeli Expansion Program

NEW YORK (Mar. 29)

The Palestine Economic Corporation today announced that yesterday it offered for sale $1,383,700 in common stock at a price of $112 per share. This action is part of the recently announced program of expansion of the P.E.C. various economic organization Israel.

For 1948 the corporation reported a net profit of $297, 814 and an increase in capital surplus and reserves from $5,391,661 in 1947 to $5,890769. The corporation has paid 25 dividends of $1 each since its establishment 1926.