(Jewish Daily Bulletin)
A loan, sought by the Palestine Government for the purchase and construction of communications, was announced in London as having the guarantee of the British Treasury, according to details just received at the United States Department of Commerce.
The full text of the announcement reads as follows:
“A memorandum has been issued by the British Government giving particulars of a loan to be raised by the Palestine Government, which is to be guaranteed by the British Treasury, according to advices from the American Consulate General in London. This loan will total amp;#163;4,500,000 (about $21,825,000), divided as follows: railway construction, amp;#163;1,640,000 (about $7,950,000); harbor works, amp;#163;1,115,000 (about $5,407,750); other development works, amp;#163;745,000 (about $3,383,250); and purchase of existing railway and other capital assets from the British Government, amp;#163;1,000,000 (about $4,850,000).
“It is explained that when Palestine was occupied by the Allied Forces during the war the country was in a neglected condition. Roads other than those constructed by the military, were practically non-existent; the telegraph system was derelict; a railway system existed, but only one line was strictly adapted to the military needs of the two armies, and that was seriously damaged in the course of the fighting.
Government buildings, where they existed, were in many cases unsuitable or in a bad state of repair; harbor facilities were practically non-existent. Extensive schemes of construction and repair were, therefore, necessary in order to enable the Government to carry out its proper functions and to re-establish commercial and agricultural life in the territory.”
Mr. and Mrs. Paul M. Warburg, with a contribution of $15,000, and Simon Guggenheim, with a contribution of the same amount, led Thursday’s list in the tenth anniversary campaign of the Federation for the Support of Jewish Philanthropic Societies, for $4,720,000.
Frederick Brown, General Chairman of the drive, made public an additional list of contributions, but there was no further tabulation toward the grand total. The latest announced figure was $4,189,579.
Among the contributions were Franklin Simon amp; Co., $7,500; Mrs. David M. Hyman, $5,000: Sol R. Guggenheim, $5,000; Casimir Stralem, and Mr. and Mrs. Morris Fatman, $4,000 each; Mr. and Mrs. Moses J. Stroock, $3,500; Mr. and Mrs. Paul Baerwald, $3,500; Frank D. Wolf, $3,430; I. Randolph Jacobs amp; Co., $2,600, and $2,500 each from Mr. and Mrs. Albert J. Goodhart, Harry Barth and Mrs. Albert J. Stieglitz.
Among the $2,000 contributors were Frederick M. Warburg. Mrs. L. S. Stroock and Mr. and Mrs. Jacob S. Heller.
The $100 dinner idea, inaugurated two years ago by the Federation, will be employed again this year by the ready-to-wear trade. The dinner will be a testimonial to Jack Mack, division head for cloaks and suits, and to John Block, division head for the dress industry, and will be held at the Hotel Pennsylvania on Sunday evening, Dec. 19.
The Lawyers’ Committee is planning a testimonial dinner to Sol M. Stroock, President of the Federation, at the Hotel Astor on Dec. 12. The next reports in the campaign will be made at a beefsteak dinner at the Hotel Pennsylvania on Dec. 13.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
