Motty Eitingon, president of Eitingon Schild Company, the world’s largest dealers in furs and skins, together with other officers and directors of the company announced this week that they would turn over $2,000,000 of their own stock in the company to the company in order to “offset the effect upon the company’s surplus of heavy inventory write-offs necessitated by the decline in fur prices” resulting from the recent stock crash. The donation of Mr. Eitingon and his associates will cancel the firm’s deficit and make possible a continuation of dividend payments.
Mr. Eitingon is well-known in New York Jewish philanthropic and social circles. Some years ago during a similar financial stringency in the Sears, Roebuck Company, Julius Rosenwald turned over a portion of his own stock in the company to aid the company out of its difficulties.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
