The flow of private capital into Palestine is continuing apace. The number of Jewish immigrants in September was 1,259, including 111 persons of independent means (of not less than £P.1,000). As compared with the corresponding month of last year, immigration into Palestine has increased sevenfold.
In Tel Aviv building permits in September were granted for an area of 12,150 square metres. As compared with September of last year the building industry in the town has increased by 80 percent. An increase in the building activity is also felt in Jerusalem and Haifa and other places. Notwithstanding this, there is a keen demand for dwellings and most of the new buildings are let as soon as the foundations are laid.
With the intensification of the building industry, there is also a recrudescence of activity in the building material market. Considerable shipments of timber and other materials are being received at the port of Jaffa every day. Timber is mostly imported from Roumania. Prices show an upward tendency as a result of competition by Russian exporters. As a result of the intensive building activity, speculation in building plots is again ripe and prices are soaring.
TEXTILE MARKET
In this activity keen competition is being felt as a result of Japanese competition. The very low prices which Japanese industries were able to offer enabled them to capture the markets of Egypt, Syria, etc. In Palestine the threat of Japanese dumping has not been felt until recently, but now it is beginning to become a strong factor and many are hard hit through it. As a consequence, textiles also show a distinct downward tendency. Japanese commodities are serious competitors to similar commodities of other countries (Great Britain, Italy, etc.) and also adversely affect Palestine industries.
During the last month a sharp rise was registered in the markets of kerosene and benzine following an agreement reached between the world oil companies.
In agricultural produce a slight fall in the prices of barley was registered during August and September, as a result of considerable imports during these months. But this was counter-balanced during October, mainly through the levying of an increase in customs duties on wheat brought from Syria. According to the report of Barclays Bank, the prices of wheat were £P. 10.15 to £P.
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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.
