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Palestine Body Gets Plan to Float $5,000,000 Development Loan

April 26, 1939
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New plans for economic development of Palestine and strengthening of the Jewish position were discussed at a meeting of the Jewish National Council yesterday, it was announced today in a communique.

Eliahu Berligne, Council member, outlined a proposal prepared by a committee under the leadership of Siegfried Hoofien, banker, to raise a $5,000,000 loan to promote large-scale agricultural settlement, enlarge the Tel Aviv port and establish industrial enterprises. The loan, to cover a 20-year period, would be guaranteed by the Palestine Foundation Fund, Zionist colonization agency, and the Jewish Agency for Palestine. It would not be used for routine purposes. Jewish Agency Treasurer Eliezer Kaplan urged the Council to act swiftly on the plan.

Dr. Chaim Weizmann told a subcommittee meeting of the Zionist General Council that the World Zionist Organization and Palestine Jewry would never agree to British policy for Palestine as outlined at the recent London conference, it was declared today in a communique on the session.

Two Jewish auxiliary policemen were shot dead in an ambuscade near the East Railway Station in Haifa. They were Joseph Falkovitz, 25, and Israel Luxemburg, 24, both immigrants from Poland.

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