Private U.S. investments exceeding $3,000,000 in 1959 in Israel industrial, agricultural and commercial enterprises and $2,000,000 additional commitments for investments in 1960 have been made by the Palestine Economic Corporation, New York, it was announced tonight by Joseph Meyerhoff, president, at the annual dinner of the 34-year-old company at the Savoy-Hilton Hotel.
Mr. Meyerhoff was presented with the “PEC Man-of-the-Year” award by Edward M. M. Warburg, a director and vice-president of PEC, who acted as dinner chairman. Speakers included Israel’s Ambassador Avraham Harman, Senator Jacob K. Javits, and Colonel John Furman, executive vice-president of PEC in charge of operations in Israel. Senator Javits paid tribute to the pioneering role PEC has played in fostering new enterprises in Israel.
Palestine Economic Corporation, with 10,000 stockholders throughout the U.S. and some $17,000,000 in assets, is the oldest and largest U. S. company devoted to the economic development of Israel through private investment.
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