The Secretary of the Company is W. Wolf, and the office is at 10–12 Walbrook, London, E.C.
7. The First London Achuzah Company, Ltd.
The First London Achuzah Company, Ltd., was founded by Dr. J. M. Salkind, with the assistance of Mr. M. Rosenblum and Mr. T. Z. Teacher, in April, 1913, when fifteen members joined the Company. Towards the end of 1913 the number of members amounted to fifty. It has now increased to eighty, about fifty of whom live in London, fifteen in Edinburgh, one in Russia and the rest in provincial towns in England.
The Company was incorporated as a limited liability company in England at the beginning of 1914. The members decided to pay 25 per cent of the amount subscribed by them (a full member’s share amounting to £300). At the same time the Company sent two delegates to Palestine to make investigations with a view to the purchase of suitable land. This was in February, 1914, after fifty members had paid up an aggregate sum of £4000. The two delegates who proceeded to Palestine were Dr. J. M. Salkind and Mr. H. Sterling. The nominal capital of the Company amounted on registration to £15,000, but was increased in August, 1914, to £25,000, and it is now intended to increase it again to £50,000. Most of the members have already paid the Company more than one-third of the amount of their shares (£120 on each £300 share). Some of the members have taken more than one share—one and a half, two, two and a half, and in one case three shares. About half of the members belong to the artisan class, while the other half consist mostly of merchants. The Company intends to establish also an industrial Achuzah, for the purpose of encouraging and establishing industrial undertakings in Palestine.
When the delegates came back from Palestine, they proposed the purchase of the second half of Kerkur, the first half of which belongs to Mr. Schlesinger (a Zionist of Chita, Siberia), and covers an area of 5134 dunam (about 1280 acres). The proposal was accepted in May, 1914, and the Company paid half of the purchase price, which amounted to £8850. The purchase was made through the Palestine Land Development Co., Ltd., London.
From that time onwards the membership in London, Cairo, and the two small branch companies in Paris and Antwerp, increased considerably. The progress thus achieved induced the Company to increase the extent of its holding in Palestine, and it purchased in 1914 a large area of land called Rabia, in the neighbourhood of Kerkur, measuring about 4000 dunam (1000 acres), the purchase price being £6030. The first instalment of £2000 has already been paid to the Palestine Land Development Co., Ltd., in connection with this transaction.
Owing to the outbreak of the War, the work of the Achuzah Company had to be suspended, and, consequently, the branch companies in Paris, Antwerp and Cairo collapsed. In the United Kingdom, however, and particularly in Edinburgh, the activities of the Company have recently been revived, and a number of new members have joined, in spite of the unfavourable general conditions. In view of this unexpected success, the Directors of the Company intend in the near future to remove the restriction which prevents the Company from having more than fifty members (it having originally been registered as a private company).
The present Directors are: L. Eisen, W. Kirsch, Ch. Inwald, Ch. Kaufman, H. Teacher, Abraham Bendas, Ch. Warschawsky, Dr. J. M. Salkind (Managing Director).
The land purchased by the Achuzah in Palestine is most favourably situated from the point of view of communication. From the Arabah (Dothan) station it is only one hour’s journey by car to Toul Kerem, a station on the new railway line from Merchawia to Lud and Beersheba. Thus the Achuzah settlement will be in a position to keep in touch with Haifa, Jaffa, Jerusalem, and other places, by means of railway communication.
8. The Maccabean Land Company, Ltd.