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$ 7,500,000 Brought to Palestine in 1937 Through Haavara

February 16, 1938
See Original Daily Bulletin From This Date

Imports of capital through Haavara, Ltd., amounted in 1937 to 31,300,000 marks ($7,500,000) as compared with 19,900,000 marks in 1936, according to a statement made at a meeting of the Board of Directors.

This increase of 57.2 per cent during the past year is mainly due to an enlarged transfer in cash which rose from 9,800,000 marks in 18,500,000 marks, or by nearly 100 per cent. Another type of transfer is the self-transfer, which increased from 10,000,000 marks in 1935 to 12,800,000 marks in 1937.

Transfer through Haavara since its foundation in November, 1933, reached a total of 77,800,000 marks at the end of 1937. The gold value of this amount is $22,500,000.

Despite the increased turnover during the past year there are large amounts of transferable monies of would-be Jewish immigrants in Germany. By the end of the past year the amount waiting in German banks for transfer into Palestine was about 50,000,000 marks, or $12,800,000. A detailed report on the management of the company will shortly be published together with a statement on possible changes in the system of transfer, as a result of negotiation proceeding at present with the German authorities. Dr. Siegfried Moses retired from the general management of the Company on Dec. 31. He became a member of the Board of Directors. Dr. Fritz Neuman and Hermann Schlossberg have been appointed members of the management.

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