The morning call., 1892-04-15
LEWIS ARE INSOLVENT.
They Are to Be Prosecuted for
Grand Larceny.
Their Indignant Creditors Held Another Meet
ing and They Resolved Not to Ac-
cept ANY Compromise.

more commission merchants who were vic
timized by the alleged sharp practices of
b. Levy & Sen met in the sto-eroom of
Gould 81 Jaudin to compare notes and de-
eide upon further action.
The fact that Bernard and Julius Levy
had passed several hours in the City Prison
the night before did not abate the indigna-
ton of the assembled merchants to any APP
preciable extent.
Two important facts came to light yester-
day in connection with the case. The
Wells-Fargo Bank is bitten to the extent of
$4,000 Sigmund Levy, the only one of the
three who owns real estate to amount TO
anything, is not a member of the firm.
This last was a considerable surprise to
most men on the street." for Sigmund has
always been considered as the head of the
concern. He was the buyer for the house.
and until the Sheriff took possession on
Wednesday morning was the ostenslbe
heal of the business. But Slgmund him
self has said that he is not in it," and
though the merchants shake their heads in
doubt, and even hint that Sigmund Levy
has On this occasion, If on no other, dew
ated from the strict truth, no one has been
found who can positively gaiBsay the an
nOuncement So the firm consists OF Ber-
nard, the father. and Julius, the son. two
very poor and much-abHSed gentlemen, ae-
coTding TO their view of The case.
b. Levy Il Son VIII 60 into insolvency
some time to-day, with liabilities Of over
$1,000 and assets of such nature as to be
scarcely appreciate, excepting The stock
On hand, which is valued at less than $1,000.
The bank has no security, and the 80 or
more creditors of u. Levy " Son on the
street" will be well satisfied If they can
make the charge of grand larceny stick
against the firm.
SOONER THAN EXPECTED.
Rarnard et,d Iufius ayy wara arrastpi
sooner than was expected for this reason:
The committee that was app0n ted yester-
day afternoon to prosecute the hrm for all
the creditors got wind of the fact that the
LEWIS had determined 10 pay the claim Of
A. J. b. Immel. 10 whom they had given
worthless bank-check, and let the other
creditors go. Immel's claim had been as
signed TO Attorney W. i. Sawyer, and an
attachment had been issued thereon. When
SAWYER told Immel Of the proposition from
the Levys TO pay his demand IN full lmmel
unselfshiy determined not to accept the
proposal.
Ex-Judge Mcguire. who had been retained
| by the committee, gave 1t as his opinion that
| Immel had clear criminal case against the
! firm.
Now, fearing that perchance there should
be no other criminal hold against the Leyys,
| Immel at once transferred his claim from
Sawyer and punched it with the others that
! had been transferred 10 Mr.. Sban. Then
1 warrant charging the Leyys with grand
| larceny was at once sworn out and served,
| and Bernard and Julius went to prison
| cell. Here they remained TIL about o clock
| yesterday morning. when A. ID. Spliyalo,
| their attorney, secured their release on
| 5000 bail.
printed postal card was sent to each Of
the creditors yesterday morning. notifying
! them, with what they ueemed the most con-
| summate cheek. that "A meeting of the
creditors Of Il. Levy IL Son will be held at
the Office Of 4. ID. Spliyalo this afternoon at
| > O'Clock"
but the creditors went right along and
held their meeting where they had held it
the previous day. Their legal adviser, ex-
| Judge Mcguire, was present, and after con-
| sailing with him they decided to send a sub
committee with the attorney to Spliyalo's
office just to see what was up,
Aessrs. Shain, 1mmel and Eyeleth were
| the subcommittee. When they arrived at
the creditors meeting" they were met
with this proposition Give us one year )
| time and we VIII pay back dollar for dollar.
TIE ASSETS.
what are your assets 2" asked Judge
| Mcguire.
Julius Levy whispered to Attorney Spill
valo. Wei, there are outstanding &C
counts on the books amounting to over
| $1,000" replied the attorney.
''HOw old are they?"
Julius Levy whispered to Attorney Spill
valo. Seine OF them two years" said the
attorney.
|
Jalius again whispered. well, Dir. Ju-
lIas Levy owns real estate valued at $4,000.
! He paid $1,000 for IL.
How long agO?'
Whispering. Eight months" said At
torney Spliyalo.
Hum! How much mortgage ?"
More whispers. Three thousand" came
the reply.
What's the stock in the store WORTH"
Again tie whisper zone thousand dol
lars"
''Don't believe it is worth that" said Mr.
| Shain.
What security can you give to pay back
dollar tor dollar?"
None" julius Levy said this himself.
III m. What other proposition have you
TO offer?"
Julius Levy shrugged his shoulders
None" he said.
viii you let US see the books with those
outstanding accounts" asked the Judge
said all we have TO say" replied the attor.
ney, which meant mo; you can't see the
| books"
Then Julius and Splivalo whispered some
more, while the subcommittee quickly de.
cided net to accept the terms. This means
bankruptcy and insolvency proceedings,
which VIII be Instituted at once.
Meanwhile ex-Judge Mcguire will cogi
tate over that worthless check which Levy
81 Son gave to the drayman for freight
charges advanced. If 1t is possible The
Levys Will be criminally prosecuted on TIL.
| charge.
The LIST of creditors published in TIL
CALL yesterday, showing total indebted
ness TO the street merchants OF over $500
has been considerably augmented and now
shows a total of about 5000
Sigmund Levy wants ii to be known tina
he Is no longer mem Der OF the firm. and
was only employed in the store The real
estate investment at 909 Taylor street was
his alone, and the transfer of 1t to his wifi,
was made fully year and a half ago, h.
says.
The hearing of the Levys on the charg,
of grand larceny will be held next Iuesda,
morning at 10 80 o'clock in the Police Court