A year of achievement was disclosed in the reports of officers submitted at the annual meeting of the Hebrew Loan Association of Detroit.
Loans were made totalling $142,029, which was more than $44,000 in excess of the previous year and nearly $100,000 more than in 1926.
The loans making up this remarkable total were made to 1,394 individuals, indicating average loans of $101.20.
By reason of increased loaning capital through the Jewish Federation, and because of prompt repayment, it was possible to make loans averaging higher than any year in the history of the association. The greatly increased volume of loans also considerably brought down the proportionate cost of doing business. In 1926, the cost of operation was 6.8 percent. The cost in 1928 was 3.68 percent.
At the annual meeting, a complete revision of the constitution and by-laws of the association was presented by Jacob Nathan, chairman of a committee appointed for that purpose. The revision was adopted. The new rules and working code was made necessary by the expanding scope of the association’s operations. Following the adoption of the new constitution and by-laws, Mr. Nathan was made an honorary life member by unanimous vote of the meeting.
The following officers and board of directors were elected for the ensuing year: Honorary president, David W. Simons; president, David S. Zemon; first vice-president, Joseph H. Ehrlich; second vice-president, Louis Stoll; secretary, Jacob S. Lowenberg: treasurer, Samuel Wetsman; board of directors, Fred M. Butzel, Maurice Engass, Jacob Friedberg, Bernard Ginsburg, Louis Granet, Julian H. Krolik, Aaron Klein, Michael Krell, J. B. Lasky, Joseph Wetsman, Isaac Shetzer, Jacob Nathan, Max Lieberman.
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.
