Announce Plan to Revive Jews’ Colonial Trust

–Plans to revive the Jewish Colonial Trust founded by Dr. Theodor Herzl and which ceased activities on January 1, after its work was taken over by the Anglo-Palestine Bank, were announced today when the Actions Committee of the World Zionist Organization resumed its sittings. The Actions Committee was called into plenary session today after two days of committee meetings.

The revived Jewish Colonial Trust is to serve as a “renewed instrument for serving new purposes,” it was announced.

Dr. Joseph Rufeisen of Czechoslovakia made the announcement on behalf of a special committee appointed by the Actions Committee to investigate and report as to the reasons for the liquidation of the Jewish Colonial Trust and the way the Anglo-Palestine Bank is being operated.

The committee reported that the Anglo-Palestine Bank is doing well, will for the first time pay dividends for 1933 and in no way suffered through the absorption of the Jewish Colonial Trust. The report declared that the board of directors of the Anglo-Palestine Bank would be enlarged in the near future.

Dr. Rufeisen reported that the liquidation of the Colonial Trust became necessary because the Trust had suffered from the world economic crisis and had outlived its usefulness for financial operations in the Diaspora.

The sessions of the Actions Committee will continue all night in an effort to end the meeting by tomorrow. All indications are that peace will be reached between the Mizrachi Orthodox Zionists, and the Oppositionist General Zionists who have refrained from taking part in the present World Executive of the Zionist movement.

It is thought here that the executive of the World Zionist Organization will be enlarged by adding one member of the Mizrachi and one oppositionist General Zionist and by giving the presidency of the Actions Committee to a Mizrachist or a General Zionist.