(Jewish Daily Bulletin)
Louis Lipsky, president of the Zionist Organization of America, last night officially confirmed reports that negotiations with Wall street bankers are going forward for a loan to the World Zionist Organization.
“I am pleased to announce,” Mr. Lipsky said, “that our negotiations with several of the leading banking concerns in Wall street for a loan to the World Zionist Organization, in an amount running between $2,500,000 and $3,250,000 is making satisfactory progress. Dr. Chaim Weizmann is arranging for the details connected with this work. Samuel Untermeyer of New York is representing the Zionist organization in this matter in a legal capacity.
“I may also add that a loan to the Jewish Agency by the League of Nations has reached the state of public discussion in England and France,” Mr. Lipsky continued. “The idea is to provide the Jewish Agency with means to carry on a long range program of colonization. These loans will in no way, however. lessen the financial responsibility towards Palestine which rests upon Jewry the world over.
“In order to get a maximum of benefit out of these loans, we, the Jews of America, will have to make good the quota assigned to us. Thus far, I have every reason to be satisfied with the progress we are making in this direction” he declared.
Mr. Lipsky was the principal speaker at a rally of captains and lieutenants in the United Palestine Appeal campaign which is to be launched in this city on May 6. Rabbi Max D. Klein is chairman of the committee. The quota is $300,000.
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