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Bank Officials to Survey Israel’s Economic Development

Senior officials representing four banks in New York area leave for Israel this week for a ten-day survey tour at the invitation of the Jewish Agency for Palestine to study the country’s economic and industrial development and the agency s mass immigration and colonization programs.

M. Lester Mendell, vice-president of the Bankers Trust Company, and Peter white vice president of the Manufacturers Trust Company left for Israel by air Tuesday. Pierce Onthank vice president of the chemical Corn Exchange Bank, and Riley P. Stevenson vice president of the First National City Bank, will leave by air on Friday.

The group will be met in Israel by Gottlieb Hammer, executive director of the Jewish Agency for Palestine, who will escort them on their tour, The banks represented have worked in close cooperation with the Jewish Agency for several years.