Henry Morgenthau, Jr., has resigned as chairman of the board of the Palestine Economic Corporation, it was announced here by Julius Simon, president. At the same time Henry Montor resigned as vice-president and director. In announcing the resignations, Mr. Simon said:
“At the last meeting of the board of directors of the Palestine Economic Corporation, the resignations of Henry Morgenthau Jr., as chairman of the board, and of Henry Montor, as vice-president, were submitted and accepted with regret. The action represented a friendly understanding on the part of the officers and of the two resigning board members. The best wishes of both were expressed for the growth of the P.E.C. as an important asset in the economic development of Israel.”
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