A national conference of the American Ort will be held at the Hotel Pennsylvania on October 24.
Reports of the work of the Ort in Europe will be submitted to the conference. This report includes the work of the Cooperative Tool Supply Company, one of the branches of the Ort, which supplies tools to artisans, farmers and industrial workers.
The company, which is less than two years old, has helped thousands of Jewish families by extending them long term credits for tools and implements needed to obtain a livelihood. According to all present indications the business of this Company will reach the million dollar mark by the end of the fiscal year, a statement of the Ort declared. The Company has been able to obtain very favorable prices from tool and supply manufacturers on long term credits, and only recently in Leningrad supplied one of the Russian Cooperative agencies with sufficient tools to aid 1,200 families. Thus far the activities of the Cooperative Tool Supply Company have been carried on without the loss of a single dollar. The Company reports that very often the loans made to Jewish agriculturists and artisans are paid back long before the period of the time extended, which in some cases is over fourteen months. The Company was initially capitalized at $20,000 and has made rapid progress with this sum and a turn-over. It is planned now to substantially increase the capital of the Tool Supply Agency and thus enlarge its scope of activities.