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Committee Formed to Help Palestine Savings Groups

A temporary committee to consider plans for the organization of an Advisory Council of Palestine Savings Groups was appointed at a meeting held last night at the Hotel Bedford. Israel B. Brodie, Chairman of the American Economic Committee for Palestine, presided.

According to the report submitted at last night’s meeting by Mr. Brodie, a number of Savings Groups have already been organized and plans are under way to organize many additional groups in the near future. It has been found essential to develop a technique for the satisfactory operation of these groups. Now that a more adequate method has been arranged for, the organization of new groups can proceed at a more accelerated rate. Of the groups already organized in accordance with the plans first proposed by Mr. Brodie, about a year ago, the one in the Bronx has already invested part of its funds in bonds of the General Mortgage Bank and the Brownsville and East New York Palestine Corporation is now considering the purchase of a first mortgage on property in Palestine. Other groups will make investments as soon as they will have accumulated sufficient funds.

The temporary committee consists of the following, Herbert Berman, Louis M. Brodie, Alexander Ginsburg, Nathan Goldschlag, Isidor Hassin, Mortimer Hays, Israel Maltin, Joshua Morrison, Julius Pines, Elias Preiss, M. Rubinson, and Morris E. Zeldin.

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