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Says Co-operative Bank Strongest Jewish Economic Organization in Poland

July 21, 1932
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Ch. Shoshkis and Consul General Mikhail Stashevsky, members of a delegation from Warsaw, who are now in this country to arrange for Polish representation at the Chicago exposition, were feted at a luncheon yesterday by the Polish Consulate here.

Today the Polish delegation will be received in Washington by the Polish Minister, Tytus Fillipowicz. From Washington they will proceed to Philadelphia where they will be the guests of former Minister Stetson, now the president of the American Polish Chamber of Commerce.

After this round of hospitality, Mr. Shoshkis and General Stashevsky will go to Chicago where they will spend three weeks preparing for the Polish pavilion.

In an interview with the Jewish Telegraphic Agency, Mr. Shoshkis who is the general inspector of the Co-operative Bank of Poland, described conditions in Jewish co-operative institutions in Poland.

Despite the depression there are 500 co-operative banks in Poland, Mr. Shoshkis said, with whom 200,000 families are connected. Loans in the amount of 160,000,000 zlotys have been granted. The Co-operative banks constitute the strongest Jewish economic organization in Poland at this time, he said.

He said that crisis of confidence has greatly reduced the amount of savings deposits. He also deplored the dearth of cheap credits. The American Jewish Joint Foundation, he pointed out, is reorganizing its work in Poland and a new central Co-operative bank is in process of formation. Government credits for the new bank are necessary, he emphasized.

American Jewish leaders, in conversations with him, have expressed interest in what the Polish government is doing for this important Jewish organization, said Mr. Shoshkis.

He informed them, he stated, of representations made to the Minister of Commerce and Industry, General Zaritsky, who in the name of the government promised aid to the co-operative bank.

Regrettably, however, this matter is still in a theoretic state, despite the fact that credits are most imperative, Mr. Shoshkin asserted.

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