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Manager of Palestine Potash Company to Come to U.S. Soon to Seek Additional Capital

M. Novomsysky, general manager of the Palestine Potash Company, will come to the United States to raise additional capital for the corporation soon after the signing of a new agreement between the company and the Israel Government, it was reported here today. Signing of the agreement is believed imminent.

Meanwhile, David Zvi Pinkas, chairman of the Parliamentary Economic Committee, today told newsmen that the signing of the pact can proceed without a debate in Knesset as demanded by the opposition parties because the Parliament has already discussed the issue. He pointed out also that the company still has 55 years to run on its original 75-year concession granted by the Mandatory Government in 1930.

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