THE "HOACHOOZO" OF ST. LOUIS
On the first of October, 1908, a new association was launched in St. Louis which promises to be an unqualified success. It was felt in Zionistic circles here that the time had arrived to do something more substantial for our movement beside donating to the present Zionistic institutions. While one could spend quite a considerable amount on the National Fund, Pflanzungs Verein, Bezalel and other kindred institutions, still it is against human nature to give lavishly where there is no direct personal interest and consequently our national institutions have been supported very meagerly in the past. The St. Louis Zionist Council after due consideration, therefore, decided to found an association which shall appreciably help the colonization of Palestine, and in which the members shall have a direct personal interest, and at the same time so shape it that all classes will be enabled to participate, and in my humble opinion the "Hoachoozo" answers the purpose.
The "Hoachoozo" is a joint stock company with a capitalization of $100,000 divided into 500 equal shares of the value of $200 each. The shares are to be paid up at the rate of 10 per cent. per annum divided into four quarterly payments of $5 on each share. When 250 shares are subscribed for, and 20 per cent. paid up, land will be purchased in Palestine and improved with the subsequent payments so that at the end of ten years each shareholder will have a tract of land belonging to him or her personally and exclusively planted with fruit-bearing trees. The work will be carried out by a Palestine Administration elected by the shareholders, the Administration will be under the supervision of a public agricultural in-
stitution in Palestine or under the Palestine Bureau. It is intended in this way to establish a St. Louis colony in Palestine. Thase Jews who love Palestine and will not or cannot go there will be enabled to at least acquire a portion of that country as their own estate. Those who wish to settle there can have their wishes realized by subscribing for ten or fifteen shares which will at the end of ten years yield a considerable income. Meanwhile even if only 250 shares are sold we will collect the sum of $5,000 per annum for the next ten years, which will go exclusively to the development of Palestine. Under any circumstances the money invested is absolutely safe and is sure to yield a very good income as land values in Palestine are steadily rising.
About two months ago we canvassed privately among Zionists for subscribers and requested a deposit of 50 cents per share as a guarantee of good faith and 180 shares were subscribed for. We then had an organizers' meeting, and decided that the first quarterly payment shall be due October 1, 1908, and I am pleased to report that nearly all the subscribers paid up, and we now have in our treasury over $700, nearly all of which has been deposited for three months in the name of seven trustees. Meanwhile the shareholders have adopted the following
CONSTITUTION.
I.
The name of this Association is Hoachoozo, and its object is to purchase land in Palestine and improve same by the plantation of fruit trees.
II.
The capital of the Association shall be limited to $100,000 divided into 500 shares of the equal value of $200 each.