Russell was a Zionist before Herzl came on the scene. If you want detailed information, I suggest: "Pastor Charles Taze Russell: An early American Christian Zionist" by David Horowitz.
Russell's position was that Leviticus 26 showed that Jerusalem and the Jews would be downtrodden for 7 "times" ending in 1914, at which time God would return Jerusalem and Jews to favor. In parallel, the madness of Nebuchadnezzar at Daniel 4 showed the "mad" state of the Gentiles, which would also end in 1914. These were two parallel periods.
Russell also said that the Church (his people) would be "changed" to the High Calling before the Jews became the dominant power on earth. He thus saw two parallel salvations: one for his followers, the other for the Jews.
Rutherford said that the return of Jews to Palestine was a sign of the 1874 Presence. He ditched the idea in 1931, at the same time that he said the Anointed were to be known as "Jehovah's witnesses". It took another 15 years before the name "Jehovah's witnesses" was extended to the "great multitude".