Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-12-30
six coNcENsto lN eegW Y0NIo
BOSTON AND CHICAGO az
ARG INVOLVED.
ACTION iMsrirurEp "
ssEaEL sroaGs coneoaAT,oss
Henry sisssl Company ~ Dsstsn, Al
issss - d Uaablo . MssA 0bll0as
tions or osours crsdlAothsr ols0ee
corporstlons oald e Dc Indshtea ~
Plaintiff Firm n Large ovns,

New York. Dsa So-sx sntsrpsssae-
controlled BY the eisgel Stores Corpor-
alton In this city and In Boston were
thrown into Bankruptcy today II
friendly proceedings instituted In the
federal court. Tho concerns did Au
annual gross business estimated g
3&0.O00.00o. but Il II understood that
their Christmas business did not come
up to expectations ana they found
thmselves hard pressed by cnrtail>
ment Of banking credit Tho failure hAs
been discounted In tho financial district
and had no effect on the stock market.
Tho companies for which receivers
were named are:
Tho Fourtssnth street store New
| York.
simpson-Crawford Co. New York, q
department store.
Henry Siegel Co, Boston,. depart.
| ment store.
Henry siessl y Co. bankers, New
York
Henry sisEsl 4 Co. Boston. whoas<,
salers.
The Merchants Express companN
New York
The areenhue-sie Cooper Co. oe,
this city, II not allied with the chain
of stores in trouble and was In no way,
involved.
siegel Cooper q Co. Of Chicago, ale,
tho its stock II controlled BY the cor.
poration, is likewise not affected On
the other hand its business II declaroa
to be in highly prosperous con@taon>
Stockholders Protect 0sposttope.
Tho banking business was conducted
IN connection with the Fourteenth street.
store In this city but the amount os
deposits or The number Of dspoAsoso
was not made lknown. Counsel an
nounced. howsvss, that RenTy Aoe1sl;
and frank vogsL PRINCIPAL owDeee ~
the store. had pledged 93.So0.00o u
stock in the siegel Store Corporedom
toward the depositors' protection. The
bank will proceed to liQuidatA
! Efforts will be made to re0rEanIso
the chain Of stores A. soon a. posstoies
Meanwhile the business Will DO cons
Quoted by tho receivers.
| Boston Dec. 3O.-Ancillary receivers
| were appointed In tho United States
district today for six corporations ~
which Henry siegel. Of New York. 70
a large owner, on tho petition OF tne
stegel Stores Corporation. Thu pro-
ceedings hero followed tho appointment
| in New York of William A. Marble AMI
John 8. Sheppard. Jr.. az receivers Tor
Simpson Crawford Company and the
| "Frourteenth street store" New York:
Henry Segel Company. Boston; and
| the Merchants Express Company.
| New York. At the same time Henry
| Melville was appointed receiver OF tho
| Henry Siegel & Co.. bankers, and
| wholesalers, New York. Each re-
ceiver furnished a bond Of 35O,000. Mr..
Marble and Mr.. Sheppard are named a.
ancilliary receivers under bonds or
$4,000 each. The proceedings are de.
scribed as friendly.
Unable to Meet Obligations.
The Sicgel Stores Corporation OK
New York. the petitloning creditor. al
| leges that the Henry Siegel Company
is unable either to meet its obligations
or to obtain credit to carry on its bus-
iness. The petitioning corporation de.
clared that tho Simpson Crawford
Company owes 1t $65,000. the Four
teenth street store owes 1t $350,0Q0 and
the Henry Siegel Company owes it
$50. 900.
| No further statement of assets or liza.
bilities OF any of the concerns is avail.
able here.
Capitalized For Millions.
Tho Henry Siegel Company. OF Bose
ton, and Simpson-Crawford Company
and the Fourteenth street store" or
New York. are retail department stores.
Henry Siegel & Co., OF New York. 10
the hnvinc agent. and the Merchants'
Express Company IL the organisation
that moves the goods handled by tho
defendant stores.
The Simpson Crawford Company d
capitalized at 3l,400.O00. and ''the Four.
teenth street store" and Henry Sieges
Company OF Boston are capitalized at
$1.000.00O each. The local store was
opened about nine years ago.
Siegsl 4 Cooper Not involved.
Chicago, Dec. 30.-According to Mar
Pam, general counsel for Siegel Coop
er & Co.. OF Chicago. the receivership
proceedinua in Chicago in no way aI~