The London Daily Telegraph reports today from Haifa that an American firm has submitted to the Israel Government a “hopeful report” on the possibility of the presence of oil in the Negev, the desert region of the Jewish State.
The report says that Israel will ask Jewish financial interests in America for $10,000,000 to conduct oil prospecting. The Israel Government would not involve itself with large international oil companies in order to avoid control of output or dictation of terms, the report stated.
The British Treasury today announced that the Bank Leumi L’Israel, the national bank of Israel, may now act as an authorized dealer and authorized depository for the purpose of exchange control under the Act of 1947.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
