The Palestine Potash Company will be permitted to raise up to 1,000,000 pounds ($2,800,000) in additional capital to finance its operations in Israel, it was learned here today.
Permission to sell securities for this purpose was received after lengthy discussions between British Treasury officials and officers of the company. It is expected that with the raising of new capital, including a substantial amount from the Israel Government which will become a partner in the monopoly enterprise, the company will be able to resume its operations on the Dead Sea before the end of this year.
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