The Joint-Ica Foundation, which recently held its meeting in London, has transmitted a sum of 100,000 dollars to the Jewish Cooperative Banks for use by the Jewish People’s Bauks to meet any demands made on them in case of a run on these banks by the depositors, due to the existing economic crisis.
A few days ago, the oldest Jewish banking firm in Poland, the Szereszewski Bank, headed by ex-Senator Raphael Szereszewski, a member of the Council of the Foundation, and his brother Michael Szereszewski, withstood a panic-stricken rush of its clients, who, alarmed by rumours spread to the effect that the Bank was in difficulties, besieged the Bank and demanded their deposits back. The Bank mobilised its entire staff in the Deposits Department, extended the hours, and paid out everything in full, restoring complete confidence, many of the deposits being since paid back into the Bank.
The Joint-Ica Foundation annually since its establishment regularly allocates sums in the neighbourhood of 100,000 dollars for the further development of the Jewish co-operative banks in Poland to enable them to provide credit loans for Jewish traders and artisans.
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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.
