New-York tribune., 1919-10-06
Jews Plan Bank
10 Aid Victims
I'm w ar Zone
= 10, 100000 or More Will
BE Raised to Re-establish
Industry and.Provide Cred
its for Raw Materials

The Joint Distribution Committee Of
the American Funds for Jewish War
Sufferers decided Yesterday. at a meet
ing at the Hotel Astor. to form re
construction corporation. capitalized
at $lO,000.000. The business of the
corporation will be the economic re
establishment of Jewish communities
in Europe Louis Marshall, upon
whose recommendation the suggestion
of forming the corporation was adopt
ed, said the capitalization might be
increased TO S25, 900 600.
One of the first and most important
functions Of the corporation Will be to
establish credits in the desolated lands
1t is to be organized not primarily
for profit, but TO carry on it's business
of reconstruction in businesshke way
Its promoters believe that through in
corporation apd the application Of bust
ness methods relief work can be carried
on more efficiently and economically
"By the process of rediscounting the
obligations which it receives from
those who make use of its facilities, -
Mr.. Marshall said "the corporation
could expand the volume of its busi-
ness and increase its usefulness. The
parent company could establish
branches lr roland Galicia, Rumania.
Czecho- Slovakia and other countries
contributing to each of these branches
a certain proportion of the capital. the
remainder to be supplied by local in
terests.
Credits to Start Industry
Through these branch banks credits
and raw materials may be secured for
local manufacturers and merchants.
while the problem Of providing tools,
implements and supplies to the me
chanlcs and artisans may be solved
through existing cooperative associa-
tions or by the organization of new
companies, which would obtain the nee
essary credit from the parent or
branch banks
Jacob II. Schif. supporting Mr.. Mar
shalls proposal, expressed the opin-
ION tnat the subscription books OF the
corporation should be open TO the pub
lic III America and Europe, to secure
the widest popular support for the
plan. In order, however, that no time
may be lost in advancing the project
TO working stage a small group of
tnanclers arc expected to underwrite
the proposed corporation.
The committee appropriated 5000. 900
TO establish in Poland, If the consent Of
that government is obtained. "A sort OF
express company, utilizing motor
trucks for the distribution of food and
clothing sent from the United States
Another $4,000 was appropriated for
the immediate purchase Of TODD This
is to be shipped in packages for which
coupons may be bought here by persons
wishing to send food to relatives IN
Poland. The buyers then Will send the
coupons to those whom they wish to re-
celve the food and the food viii be
delivered on surrender of the coupons
immediate Relief Planned
Immediate relief for stricken popu-
lations facing the privations Of win
ter could not wait for the organiza-
tion Of the Reconstruction Corpora
ton, the committee decided, and i
was voted to start al once raising
$50 goo 600 70 tide destitute Jews in
Europe over another twelve months.
Dr. Lee Frankel reported for com
mlttee plan to reorganize the work
of the joint distribution committee
so as to deal with new needs that have
arisen and take advantage Of greater
possibilities that have come with the
cessation Of hostilities. There is 10 be
d director general in this country. with
a sta'f OF organization experts and a
European director who is to coordinate
the work abroad and direct medical.
technical, economic and social work
ers in the field.
Five hundred thousand dollars was
appropriated as gift to the Cha
dren's Relief Administration. organ
ized by Herbert c. Hoover in Europe;
100000 for relief in Warsaw. LODI.
Lemberg, Crakow and Lublin; $4,000
tor fuel; 100000 for SHOES. cloth IN
the bol. and similar necessities and
5 100000 Tor tools and sewing m .chines.