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American-israeli $14,000,000 Transportation Corporation Formed

A new American-Israeli corporation has been formed to transport by freighter fruit from Nicaragua to the United States, it was announced here today. Its initial capitalization is $14,000,000 and the Israel Government has approved an allocation permitting the new line to purchase refrigerated freighters from German shipyards within the framework of the West German-Israel reparations pact. The vessels will fly the Israeli flag.

The Israeli partners are headed by Col. M. Kolnesher, who recently retired from active service after serving as Israeli air attache in Washington. American partners include New York banker Richard Quuen, Blue, Hamm, Smith and Company, Nicaragua banana plantation owner, and Washington residents Z. Freilich and I. Davidson.

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