“To accept gifts, donations and bequests of money and other property, on the terms of the same being applied for all or some one or more of the purposes of the company, or such other terms as may be consistent with the objects of the company.” The Articles of Association provide, among other things, that no more than half the capital is to be employed in the purchase of land, that the governing body shall consist of a Council of Administration, who in their turn shall elect Directors, and these shall be paid officials and carry out all the executive work. The machinery provided by the Articles enables representative Jewish institutions to become members of the Company, and thereby to have a certain voice in the management. The constitution further provides that under no circumstances shall any of the members derive any profit from the undertaking. With regard to the objects of the Company, the last clause was amplified at an Extraordinary General Meeting of the Company by the addition before “or on such terms” of the following words: “or for any other philanthropical purposes specified by the donor or testator for the benefit of Jewish communities or individuals either in Europe or in America.” The Jewish Colonization Association was founded with a capital of £2, 000,000 divided into 20,000 non-dividend bearing shares of £100 each. Baron _de_ Hirsch subscribed for 19,993 shares; and Lord Rothschild (1840‒1915), Sir Julian Goldsmid (1838‒1896), Ernest (afterwards Sir Ernest) Cassel, Frederic David Mocatta (1828‒1905), and Benjamin Louis (afterwards Sir Benjamin Louis) Cohen (1844‒1909) of London, and Salomon H. Goldschmidt (1814‒1898) and Solomon Reinach of Paris for one share each.¹ ¹ Before his death Baron _de_ Hirsch divided his shares among the following corporations: the Synagogues of Brussels and the Jewish communities of Berlin and Frankfort-on-the-Main, 3600 each; the Anglo-Jewish Association of London and the Alliance Israélite Universelle, Paris, 4595 shares each. About the time when the Jewish Colonization Association was formed, Baron _de_ Hirsch addressed an appeal to the Jews in Russia concerning the emigration schemes which he intended to carry out under the auspices of the Company. The following is a translation of this appeal:―― “To my co-religionists in Russia: You know that I am endeavouring to better your lot. It is, therefore, my duty to speak plainly to you, and to tell you what it is necessary for you to know.