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Jewish Co-operative Banks in Warsaw Region Hold Conference

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(Jewish Telegraphic Agency)

Sensational charges against the administration of the Jewish Cooperative banks in the region of Warsaw were made at the annual conference of the Association of Jewish Cooperative Banks.

One hundred and eight delegates representing 35,000 members of the banks attended the conference. The banks were established with the aid of the American Jewish Joint Dstribution Committee.

The banks have now a capital of two and a half million Zlotys, four million Zlotys deposits and two and a half million Zlotys of a credit capital from the Central organization of the Jewish cooperative banks, also a government credit of one million Zlotys.

During the first half of 1928 the banks have granted loans to the amount of 30,000,000 Zlotys.

During the discussion of the annual report some of the speakers made sensational charges against the administration. It was asserted that members of the Zionist organization were given special privileges by the administration in credit facilities. It was likewise asserted that a large loan was granted to a certain private person in Warsaw and that this was not repaid. The greatest impression was made by the charge that members of the administration have concluded an agreement with a certain European life insurance company for insuring the bank members. The amount of $100,000 was mentioned as “a bribe” for putting this agreement into effect. Late at night the public discussion was interrupted and an executive session was called. It was reported later that the conference has decided to take coguizance of the administration’s explanation. A new executive committee for the Warsaw region was chosen.

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