Intermountain Jewish news., 1925-12-03

WhSI was VI kdIllLcu ldSI cur u
the economic, industrial and az
tine.
The subscription. according to Mr..
Warbnrg. who is chairman of the
Joint Distribution Committee, Is con-
tingent on the raising Of the $15.OOO,-
O0 which is the goal OF the United
Jewish Campaign. and also on the
turning over to the Palestine Economic
Corporation the assets OF the Palestine
Development Council and the Ameri-
can Palestine Company as well as the
payment of individual stock-subscrip-
iions already made. The individual
subscribers include Felix NJ. warburg.
Samuel Untermyer. Louis Marshall,
Herbert ii. Lehman. Samuel c. Lam
port, Walker f. Meyer, Paul Baer-
wald and A. G. Becker. deceased, OF
Chicago. This will provide the entire
capital stock of S3.OOO,OOO OF the Pal
estine Economic Corporation, which is
chartered as a n-philanthrOpic cor
poration.
The resolution of the Joint Distribu-
tion Committee In which this action
was included serves also to Indicate the
entire program of its relief and recon-
structive work in Europe and In Pales-
tine for which the Overseas Chest Of
$15.OOO.0OO is being raised, as follows:
while recognizing that 1t Is i'm
practical Mt this time to prepare an
exact budget indicating with precision
how the sl5.OOO,OOO expected to be col
lected in the United Jewish Campaign
are 10 he ultimately applied, 1t is new
crtheless deemed advisable to Indicate
the manner in which II is intended, in
accordance with the resolutions adopted
at the conference held at Philadelphia
on September IL. 1925, to appropriate
the funds raised. having due rega rd to
the needs which brought about the con-
vening of that conference.
Therefore. Be 1t Resolved. That it
is the sense of the Executive Commit
tee of the Joint Distribution Committee
that the following approximate annual
expenditures be made, on the basis of
the collection of S15,0OO,0OO. during
each of the coming three years, with
the understanding that due rd
shall be had TO such crises and unex-
pected emergencies and change in con
ditionS as may from time TO time arise:
Il. For agricultural and reconstruc-
tive work the sum OF $2,5OO,OOO OF
which S1,5OO, 900 are to be used in Rus
sia and the remaining $l0O0,0OO for
Poland. Palestine, Roumania and other
countries.
with respect to the allotment for
Palestine out of the $l,OOO,000 an
nunlly. it is understood that $500 600
annually shall he invested in the
shares of stock of the Palestine Eco
nomic Corporation out Of its total cap
ital of 5000, 900. whereby, with other
capital assets now owned or to be ac-
quired by the Palestine Development
Council. the American Palestine Com
pany, and for subscriptions to its capi-
tal stock heretofore made by various
individuals. the full amount Of capital,
to wit. $1,000 900 Of the Palestine Eco.
nomic Corporation, shall have been pro-
vided for.
| 80. For medical and cultural work
$6OOOOO annually, 100000 thereof to
he used in Russia, the remainder in
Poland, Roumania, Palestine and else
where
"3. For credit Kassas, cooperatives
and business reconstruction $4OO.OOO
annually. $25O,OOO thereof to be used in
, Russia, the remainder in other coun-
tries, special consideration to be given
to Poland.
-. For refugee work 100000 an
nually.
80. For orphan. institution work,
etc. $4,000 annually.
"It must, however, be understood
that these are only approximate and
tentative ALLEGATIONS"