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London Bankers Join Syndicate for Haifa Bay Development

(Jewish Telegraphic Agency)

A financial syndicate for the purpose of aiding the Haifa Bay Development Company was formed here with the participation of a number of influential persons of the City, including many non-Jews.

The establishment of the syndicate was accomplished by Charles Passman, Palestine representative of the American Zion Commonwealth, Mr. Loewy, Mr. Kutzelock and Bernard A. Rosenblatt, chairman of the Board of Trustees of the American Zion Commonwealth, who are now in London.

The contract signed with the financial syndicate, it was stated, affords sufficient guarantee for Jewish interests in the project and particularly guarantees the employment of Jewish labor.