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Boston Delegation Tells of Million Dollar Investment Company in Palestine

May 8, 1927
See Original Daily Bulletin From This Date

The Gan Chaim Company, a million dollar corporation, which has already acquired 1,800 dunams of land in Palestine for orarge cultivation, and which has set aside the sum of $400,000 for that purpose, is the result of the recent visit to Palestine of the group of New England Zionists, headed by Max Shoolman. Mr. Shoolman is President of the corporation.

Details of the organization of the company were announced yesterday by Elihu D. Stone, secretary of the company, upon the arrival of the commission from Palestine. In the group which constituted the New England commission, besides Mr. Shoohman and Mr. Stone, were David R. Rudovsky. Morris Long. A. S. Kubitzky, Bennett Silverblatt, Eldar Markson, William Herzmark and Benjamin Cushing.

The charter of the company authorizes it to engage in any type of industrial and commercial enterprise.

The Gan Chaim Company, named after Dr. Chaim Weizmann, expects to begin the cultivation of its 1,800 dunams immediately. It is expected that employment in these orange groves will provide support for at least 300 families.

Telling of the possibilities of orange cultivation. Mr. Stone declared that Palestine has virtually no competition in that product. “The Palestine orange is superior to any grewn in Europe. It is jucier, larger and has a distinctive and captivating aroma. Last year, some two million cases of these oranges were exported, and the market exists for many more.

“If we had a dozen other similar American corporations organized in Palestine for the cultivation of oranges, the present unemployment problem which is harassing Palestine would be largely removed,” Mr. Stone declared.

“Many of the Chaluzim are anxious to undertake orange cultivation. The difficulty arises out of the fact that it requires six years until the orange trees begin to yield their fruit. Meanwhile, the orange grower must have sufficient capital to live. Facing this predicament without credit, he is helpless.

“What Palestine needs above all is credit. It needs credit at low interest and long terms. I believe nothing is so necessary as the present time in Palestine as the organization of a financial institution with a capital of four or five million dollars. The American farmer or business man can go to the bank and raise money on his prospective yield or income. In Palestine he cannot do that. I believe if American business faced the same lack of credit facilities as industry and agriculture in Palestine, we would be confronted with the same financial difficulties here,” Mr. Stone declared.

The Twenty-first Convention of the Zionist Organization of Canada will be held in Wiunipeg on July 10th. 11th and 12th It is announced that M. M. Ussishkin, Col. Frederick H. Kisch and Lcuis Lipsky will be the principal speakers at the convention.

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