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National Fund Agrees to Terms of American Loan for $3,000,000

(Jewish Telegraphic Agency)

The Palestine headquarters of the Jewish National Fund have consented to the terms of the Wall Street loan for $3,250,000 which is now being negotiated.

A report to this effect was current here today following the arrival here by aeroplane from Paris of Mark Schwartz, director of the Palestine department of the Zionist Organization of America, who made the trip for the purpose on completing the necessary arrangements for carrying through the loan.

According to the report here, the loan will amount to $3,000,000, will be repayable in twenty years with interest at six and a half percent. One half of the amount is to be turned over to the Jewish National Fund for land purchase and the other half for the consolidation plan of the Zionist Executive.