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Italy Permits Transfer of Foreign Jews’ Frozen Assets on Cooperative Basis

February 26, 1939
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The first positive measure on the transfer of property belonging to foreign Jews, who are under compulsion to leave Italy by March 12, was taken by the Foreign Exchange Ministry today when it conceded to the local refugee committee the right cooperatively to direct liquidation of frozen assets by sale of goods abroad. The loss to be incurred by the property owners during the transfer is estimated at from 25 to 88 per cent.

Myron C. Taylor, American vice-chairman of the Intergovernmental Refugee Committee, conferred at length today with United States Ambassador William Phillips, reportedly on the position of foreign Jews which is rapidly approaching a crisis without indication that the Government will postpone the expulsion deadline.

It is understood that Ambassador Phillips is not likely to act on behalf of the Intergovernmental Committee, which is not yet officially interested in Italy, although the majority of the refugees here are German Jews. Mr. Taylor has not been in touch with anyone connected with the local refugee committee. He left for Florence after his talk with Ambassador Phillips.

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