Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1913-12-30
RECEIVERS ARE
NAMED FOR
6 firms
SlEGEL STORES CORPORATION ASKS
COURT TO NAME MEN TO TAKE
CHARGE OF SIX Big CORPORA
TIONS, WITH BRANCHES IN new
YORK AND BOSTON.
SUIT IS SAID TO Be
A FRIENDLY ONE

New York, n. Y, Dec. 30.--Six en-,
terprises controlled by the Siegel
Stores corporation in this city, and in
! Boston, were thrown into bankruptcy
today in friendly proceedings institut'
ed in the federal courts. The con-
Germs did an annual gross business es-
timated at $40,0O0,000 but it is under
stood that their Christmas business
did not come up to expectations, and
they found themselves hard pressed
by curtailment of banking credit. The
failure had been discounted in the
financial district and had no effect on
the stock market
The companies for which receivers
were named are:
The Fourteenth street store, New
York.
The Simpson Crawford company,
New York, a department store.
The Henry Siegel company, Boston,
a department store.
Henry Siegel & Company, bankers
New York.
Henry Siegel & Company, whole
salers. New York.
The Merchants Express company,
New York.
The Greenhut-Siegel Cooper COM
pany, of this city, is not allied with
the chain of stores in trouble and was
in no way involved. Siegel Cooper &
Company, of Chicago, although its
stock is controlled by the Siegel
Stores corporation, is likewise not af.
fected. On the other hand its bust.
ness is declared to be in a highly pros.
porous condition. !
The banking business was conduct
ed in connection with the Fourteenth
street store in this city, but the
amount of deposits or the number of
depositors was not made known.
Counsel annopncfd. however, that
Henry Siegel and Frank f. Vogel I
owners of the stores, had
pledged $3,500,000 in stock in the
Sesel Stores corporation toward the |
depositors protection. The bank will |
proceed TO liquidate.
Efforts will be made to re- organize
the chain of stores as soon as possible. !
Meanwhile the business will be con.
Quoted by the receivers.
Boston. Mass, Dec. 30.--Ancillary
receivers were appointed in the Unit
ed States district court today for six
in which Henry Siegel of
New York is a large owner, on the
petition of the Siegel Stores Corpora
ion. The proceedings here followed
he appointment in New York of Will
am A. Marble and John II. Sheppard,
IT.. as receivers for Simpson Craw-
ord company and "The Fourteenth
Street Store" New York: Henry Sic
5el company, Boston, and the Mer-
'hants Express company, New York
1t the same time, Henry Melville was
appointed receiver of Henry Siegel
nd company, bankers and wholesal
rs, New York. Each receiver fur.
lished a bond Of $4,000.
.
Messrs. Marble and Sheppard were
amed as ancillary receivers here to-
ay under bonds of $25,000 each.
The proceedings are declared as
liendly :,
The Siegel Stores corporation of c
few York. the petitioning creditors al i,
age in the petition filed here, that the :,
lenry Siegel company is unable eth. c
+ to meet its obligations or to obtain j,
redit to carry on its business, The Il
corporation declares that
impson Crawford company owes it q
$1,000: "Tbe Fourteenth Stores
ives it $350,000. and the Henry Siegel
0mpany $4,000.
Statement Issued. @
New York, Dec. 30.-Rose and Pas d
us, counsel for the Simpson Craw- C
'rd company and the Fourteenth G
treet store, for which receivers have Il
cen named along with certain other S
terests of the Siegel Stores corpora s
WILL SANTA FE
~Y-vry