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Reich Turns over Operation of Transfer Pact to Haavara, 2 Banks

Government order published today places operation of the transfer pact between Germany and Palestine, by which German Jews are enabled to take with them to the Holy Land a portion of their capital, entirely in the hands of Haavara of Tel Aviv, Palestine trustee office for execution of the agreement.

The Reichsbank, it was announced, will no longer transact any business in connection with the agreement. The German end of the transfer details has been taken over by the Warburg bank of Hamburg and the A. E. Wassermann bank of Berlin.

The maximum amount of capital permitted to be withdrawn in the form of merchandise henceforth will be 37,500 marks per single person instead of the 50,000 marks formerly allowed.