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Demand Reasons for Bank’s Failure

April 3, 1935
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The question of the Jewish Colonial Trust, the bank established by Dr. Theodor Herzl, which was suddenly liquidated last year, came up for discussion at today’s session of the Zionist Actions Committee when Rabbi Meier Berlin, Mizrachi leader, demanded an explanation of the bank’s closing.

The matter was deferred to a closed meeting of a special committee which was appointed by the Actions Committee to deal with this question. The liquidation of the Jewish Colonial Trust aroused great protest on the part of many Jewish leaders in Palestine, who claim that there was no reason for liquidating it. A full account of assets and liabilities is demanded in view of the charges made that the capital of the bank was misappropriated.

At today’s session of the Actions Committee, Rabbi Berlin also complained that the Sabbath is not being observed in Palestine, especially in the Labor colonies which are subsidized by the Zionist Executive. Rabbi Berlin wanted to know what steps have been taken by the Zionist Executive to carry out the decisions of the last Zionist Congress with regard to the observance of the Sabbath.

The majority of the members of the Actions Committee proceeded to Tel Aviv today to witness the opening of the Maccabiad there.

Richard Cumberland, born in Cambridge in 1732, wrote a play. “The Jew,” in which appeared the complete antithesis to Shylock, a benevolent, grateful Jew.

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