Assurances that Palestine had recovered from the recent economic slump and that improved conditions were prevailing in all spheres of economic life were given at a press conference here under the auspices of “Bitzur” Corporation.
It was stated that the Corporation, established by the Jewish Agency (with capital of the Palestine Foundation Fund) and by the Histadruth Unemployment Fund, and assisted by the Anglo-Palestine Bank, had stimulated the notable advance in economic activity.
Isaac Gruenbaum, of the Jewish Agency Executive, reported on new building and road construction undertaken by “Bitzur”, and announced forthcoming economic ventures. He stated that cheap credits for small and medium-sized industries as well as for other sections of economic life would be granted.
Among the works planned is the construction of a road between Herzlia and Tel Aviv, and connection roads between Mt. Carmel and Hadar Hacarmel, and Mt. Carmel and Neve Shaanan.
Dr. Zallheimer, of the Anglo-Palestine Bank, said that “Bitzur” would shortly issue £120,000 worth of debentures redeemable in six per cent dividend per annum. Dr. Alexander Goldstein, of the Keren Hayesod, and Mr. H. Frumkin of the Histadruth Central Employment Bureau, also addressed the journalists.
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