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$400,000 for Jewish Credit Bank in Galicia

August 20, 1924
See Original Daily Bulletin From This Date
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Shares to the amount of $146,000 dollars have been sold by the Jewish Merchants’ bank of Lemberg in the United States, reports Mr. Ossias Schreck, Director of the Bank, who has just returned from New York. In addition, Mr. Schreck has obtained a loan of 150,000 dollars from an American Jewish bank at an interest of 3???%. He has also obtained a sum of 100,000 dollars from several of the organizations of Galician Jews resident in America. No interest is being charged on this loan. Thus he has raised a total capital of $400,000 for the Bank. The Bank is starting an estensive credit loan activity and will open branches throughout Galicia.

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