New-York tribune., 1922-01-09
h;nner Raises
100000 for
Palestine Bank
,;.e Brandeis and Harry
'r;.ehel Pledge $4,000
s..h. While 100000 Is
Gwen BY Miss Mary Fcls
$4,000 by Rosenbloom
r.xs,opment Council Lis
,sns to Plea for Assistance
4 Settlers in Homeland

rr. hundred thousand dollars was
,..,;bed last night at dinner at
Hotel Astor toward the s1,ooo,ooo
.:slisation Of bank to be estab-
-,.a in Palestine, and Sol Roscn-
Lam who is to establish tho bank
:, $4,000 OF s25o,0o0 which he has
.ised toward It's capital. Miss Mar,
,,,s subscribed $4,000 and Justice
,.r;s r Brandes, of the United States
,.,reme Court, and Harry Fische
js5 900 each
ur. Roscnbloom previously had givcr
,,5 900 to the fund. Bank stock to tht
snogr. Of his contributions is 10 b,
.s'd in trust for the Hebrew Univcr
,sr in Palestine. Miss Fcls's gift is t,
/. ssplicatcd annually. Justice Bran
b. is to give another $4,000 July
Er that time another S25O,0OO ha,
|r raised.
To Open Negotiations Abroad
u. Eoscnbloom was the guest Of
,ssr at the dinner. which was giver
i, ne Palestine Development Council
|. f.rewcll to the banker. Mr.. Rosen-
H.. who is head OF the Diamorrd Ma
IT,, Bank of Pittsburgh. is TO sail
r. for Europe to take up negotiations
II, bankers in London and Paris pre-
I-;rsrv To the cstabii hmcHt Of the
[,,k in Palestine.
r.. nurposc of the council in cstab-
..nc the bank is to facilitate the de-
.l.oment Of Palestine by Jews. Many
IL .sose interested in the project for
..Ir we're prominent in the Zionist
-x,.nent but the enterprise has no
otal connection with that movement,
NJ, hank is to extend credits for the
J.y.,acment of agriculture and indus
III and commercial projects and will
..r, well-organized mortgage and
ixs department. the purpose of which
IN be to encourage the building Of
y !. was emphasized by Judge Mack
81 other speakers that although the
s,blishment Of the bank is made pos
sIs at this time by voluntary con-
rsn,;ons the institution itself is to
!. !, M sense a charitable enterprise.
i to be conducted along strictly
ssness lines.
Iauis S. Posner. an attorney, cx-
,ndsd the councils welcome to its
tss, Of the evening and introduced d
ri,a Mack as POSTMASTER. 1t was
;.eutial to the welfare of Palestine,
1dce Mack said. that the bank to be
esSed there be conducted on precisely
l. same principles that govern SIM
sr institutions elsewhere.
Credit Their Chief Need st
Above all, he said, the bank must be
uapcially sound. 1t must help the
vsays Il Palestine to be self-respect-
ng and self-sustalnng. Credit was
he prime need there. he said. as it was
everywhere else in the world at pres
mt Not,only the newcomers but the
old settlers needed help, he added.
Tor their own welfare and the future
II the country it was absolutely nee
essary, however, he said. that this help
be extended to them or the same terms
nat people elsewhere could get it.
A message to the same effect from
Justice Brandeis was read. Judge
lacs delivered short speech for
Nsihsn Straus, who was not we'll
Tough to speak. Other speakers were
ssOol Stephen S. Wise, of the Free
Saagogue; Ruth Franklin, niece of
NJ Herbert Samuels, Governor-Gen-
M Of Palestine. and Captain Alex
Alder Aaronson. D. S. O