NEW YORK (Jun. 14)
Not earnings of $307,465 and a growth of capital, surplus and reserves to $6,846,235 are reported in the 1949 annual report of the Palestine Economic Corporation, made public here today.
Close to $1,000,000 of new capital was invested in the Corporation during 1949. These funds were channeled into the Israel economy through P.E.?’s operating subsidiaries. In 1949 the Corporation paid a dividend of $1 per share to its stockholders. This represents four percent on the par value of $25. The stock now sells for $28 a share.