yil Center
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Page 33
DETROIT JEWISH CHRONICLE
Thursday, September 7, 1950
Home in Israel
U. S. Pioneei Spirit\lraq Girls , Find
. .
Takes Hand in Israel
By THEODORE K. LANDAU
THE AMERICAN PIONEERING initiative and determina-
tion that opened up our West is helping to build a modern
nation in Israel. In the almost forgotten days when a Jewish
Homeland was only a romantic dream a group of prominent
Americans—including Sen. Herbert Lehman, Bernard Flex-
ner, Nathan Straus and Robert Szold—decided that they
would work to provide the coming Jewish State with a sound
economic foundation. In 1926 they formed the Palestine Eco-
c.
nomic Corporation.
dependance on imports for these,
needed items.
Thousands of Americans who
can't go to Israel themselves are
pioneering with PEC, putting
their money to work building
the Jewish Homeland.
They have found that through
this corporation their money, in
addition to efficiently develop-
ing Israel, pays them dividends
greater than their money would
draw in the banks.
For Palestine Economic Cor-
poration's financial record re-
flects its operational successes.
It has paid 31 dividends to date,
maintaining a rate of 4 per cent
on the par value of its stock
($25) since 1946.
In fact, in recognition of PEC's
vital role in building Israel, the
Zionist Organization of Arrior - a
at its July convention passed a
resolution calling upon all Zion-
ists to become stockholders of
the Palestine Economic Cornora--
tion so that they, too, could ac-
tively participate in the develop-
ing of a sound and prosperous
It was in 1928 that PEC bought
Social-minded, pioneering, dar-
ing, adventuresome—these seem a great tract of this swamp and
strange adjectives for a business set about draining and clearing
enterprise. And yet, the story it, then developing model resi-
of this American firm is a thrill- dential communities' there. The
ing story of high adventure, same American ingenuity and
From times of antiquity the determination that cleared the
fabled Dead Sea has fascinated swampland of Panama and built
the Panama Canal was put to
generations, but until the 1920's work on the shores of Haifa to
it was considered only a scenic set an example of what could
feature of the Holy Land. Then
speed its development. Contact- tric products in Israel; operates
done.
a visionary mining engineer And today the families that ing American plastic manufac- a United States purchasing serv-
ice for Israel industry; is associ-
came toPEC.
once fled in fear from Europe turers, it interested a group of
"There are millions of tons of are the proud inhabitants of New England firms in joining ated with Israel's greatest textile
works, Ata Textile Company
potash, magnesium and other
Rosh Hoshonoh Greetings
clean modern houses and work with PEC and another Israel
said.
Ltd.
minerals
in
that
water,"
firm
to
set
up
a
modern
plant
"I think I can extract them on in the offices and factories of
It backs Fertilizers and Chem-
i with American machinery and
this great city.
Saying that Israel's greatest; guided by skilled American icals Ltd., the firm which will
a coin mercial'basis if I had the
,,
11724 DEXTER
produce the millions of dollars
money. listened to his plan then asset is the Jew is already a; know-how.
• • •
worth of fertilizers needed to in-
TO. 9-9724
.
PEC
truism. But how can this great I
backed him with thousands of I human asset be used? PECK BUILDING, PIONEERING, crease the output of Israel's
Also
American dollars. Today, that , showed a way.
leading the way in new ven- farms; is joining the United
States
firm,
General
Tire
and
engineer, Moise Movomeysky, is
Dexter Bakery Branch
Today Goldberg Instruments tures—the story of PEC is
at the head of Palestine Potash, I Ltd. is Israel's chief producer of the story of American pioneer- Rubber Company, in a $2,400,000 18279 Livernois - UN. 4.9828
Ltd.—the firm PEC sponsored—; precisioh optical *instruments, ing initiative building a new factory to produce rubber tires;
MRS. MARY LESHMAN
and has produced milliofis of , and devices its research labora- nation. This corporation was one is planning with other American
AND SONS, Props.
dollars worth of minerals from tories perfected are manufactur- of the sponsors of the world- interests a $3,000,000 paper pro-
ducts
plant
to
relieve
Israel's
these bring waters.
ed under license in the United famed King David Hotel in Jeru-
- -
If PEC had not listened t to S ates, earning dollars for Israel salem; it is planning and partly ----
and worked with this visionary, and respect for the young na- financing Tel Aviv's anxiously
the Dead Sea might still be; lions technicians.
awaited 'Radio City' business
only "another strange natural' t This firm was developed with and commercial center; helped
Happy New Year
phenomena."
PEC's help around one of Israel's organize a shipping company so
In the 1920's the banking sys- • human resources, Dr. Emanuel cargos could reach Jewish ports
•
tern in
scientist who had in the dark days of '48 when the
mentary. Credit was largely con-; Goldberg, a
once
been high
in the
councils
of
Germany's
famed
Weiss
Ikon issue was still in doubt in Pales-
- trolled by Arab money lenders
who charged 20 per cent to 60 1 Co. before he had fled to Pales- / tine; it distributes General Elec
per cent interest rates.
tine
Knowing that they were stran-
13306 DEXTER - TO. 6-9860
The soil of Israel has always
37 John R
gling the - infant cooperative been thirsty. PEC brought it
New Year Greetings
Mr. and Mrs. 11. Bryman
movement, PEC set out to break water. Abandoning the primitive
and Best Wishes to All
WO. 34850
the, backs of these usurers. With' pumps and drills then being
and Family
its own bank, The Central Bank • used in Palestine, PEC brought
••
of • Cooperative Institutions in in modern American oil drilling
Palestine Ltd., PEC provided ; equipment and a skilled opera-
loW-cost credits so the coopera- ; for to show its use.
BEST WISHES FOR A HAPPY NEW YEAR
tives could buy seeds and fer-
With this equipment water was
Wizens, tractors and agricultural' found—water needed to irrigate
machinery, could build barns and , farms for the incoming
914 Metropolitan Bldg.
quarters.
grants.
More than that, PEC cam-
In
In a young country like Israel
WO. 1-4932
paigned to improve the coopera- the plastics industry can be very,,
WE. 5-9205
12115 LIVERNOIS
tivts' practices. Setting up important. PEC resolved to help'
special bureau in this bank, it
•••••■•■•••■ •1
NIMMO•1•1•••• ■■ •••• ■ •••••• ■ •••••••MM••• ■■ ••••■•0•■••■ •••■••••••• ■■•■•■•••.■•.■
studied cooperatives both in
ROSH HASHONAH GREETINGS . . .
Israel and throughout the world,
then passed criticisms and sug-
MR. AND MRS. PHILIP SHIENER
Rosh Hashonah Greetings
geStions along to the Israel corn-
DAUGHTER HARRIET ANN
munities.
• • •
and Best Wishes to All
SON GERALD ALAN
IF YOU VISIT Israel you will
4220 Leslie
delight in the broad and beau-,
tifal bathing beaches at Haifa,
and this clean modern city that
is one of the East's great metro-
polises.
You would never know, to look ,
10425 NORTIILAWN
at it, that 20 years ago much
WE. 3-0900
of the Haifa Bay coast was rank,
■•■■■•••■
•••••• ■ ••••••.....mwomma ■ ■•■ •••••• ■■■••■•■ •••• ■ Mls
••.••••
mosquito-ridden swampland.
■•■■••■■
•••••••••
..om ■•■•••■■■•■••■■
-.
r
i
JEWEL
BAKERY
Van Yarn
Shop
Dexter Bakery
Professional
Optical
Co.
SHORR & SHORR
MOTOR SALES
—
Rosh Hashonah Greetings
NEW YEAR
GREETINGS
FONTANA
BROS.
2431 Woodward
WO. 1-6134
GREETINGS
ROMAN
CLEANSER
Whitens Clothes Safely!
”.•
WO OOOOO •• ■ • • 00.•••• ■
DETROIT
FRUIT AUCTION CO.
7201 West Fort Street
STORK BABY SERVICE
Best Wishes for a Happy
and Prosperous New Year
New Year's Greetings front
HUDSON
CLEANERS
Schostak Bros. & Co.
Cash and Carry Service
REALTORS
34th Floor Cadillac Tower
STORES IN YOUR NEIGHBORHOOD