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Israel Government Offers to Buy Palestine Electric Corp. Stock

The Israel Government has made an offer to purchase stock of the Palestine Electric Corporation which is on register in London, the company revealed here today.

The offer, which sets different prices for three different issues, calls for payment in semi-annual installments over a period of 15 years, beginning October 1, 1954. Payment would be in sterling with four percent interest on the unpaid balances. The offer, made August 22, has a September acceptance deadline.