The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-28
NO CLEMENCY FOR
SIEGEL AND VOGEL
whitman Unmoved by Renewal
Of $45O,OOO Offer to
Depositors.
GRAND JURY HEARS BANKS
More Indictments Expected to
Grow Out Of Statements
to Secure Loans.

District Attorney whitman announced
yesterday that the indictments against
Frank r, vogel and Henry siesel are
going to be pushed" as soon as the cases
are ready for trial despite the repeated
offer Of Louis s. Levy. the indicted mer-
chants counsel that the $4,000 raised
by their friends some time ago was still
intact. but that siegel and vogel would
have to have q chance to make good"
the Aptes that would 60 with the cash
settlement.
Levy's statement was read to Mr.. Whit
man yesterday afternoon after he and
Assistant District Attorney Arthur c.
Train had been before the Grand Jury
nearly all day to present information on
which at least seven new Indictments are
expected to be returned next week.
The cases are going to be pushed"
said Mr.. Whitman emphaticaiiy. I'VE
are going to proceed to try the indict-
ments as soon as they are ready for
trial. Nothing will stop us. have no
other course and am not justified In TAX
ing any other position, but there Is moth
ing to prevent the men from paying their
bills"
Levy had been asked about the report
among the mercantile creditors that the
$4,000 was still available for the de-.
positors In the Sieeel bank.
The money Is still intact" he said.
but II won't go without the notes (Which
were for one to five years. according to
the Depositors Realization Corporations
plan Of rehabilitation. after a 80 per cent
cash settlement with the depositors). They
tSiegel and NogeD won't give the notes
unless they have a chance to make them
good. They certainly can't do that sitting
here In my Office
More Indictme nts Tuesday.
Representatives OF seven banks which
loaned money to the Siegel enterprises
amounting to upward Of $4,000 APP
peared before the Grand Jury with books
and affidavits OH which, IL was said ON
excellent authority. at least six or seven
indictments charging grand larceny will
be handed down on Tuesday. 1t is on
these that the trial OF the merchants is
expected to be held. A representative OF
the accounting firm, West d Flint. which
went over the Siegel books here and In
Boston and ID. W. Quinn OF the State
Banking Department also appeared to
testify to the Siegel and vogel transac-
tons.
one indictment is expected on an AL
legged loan OF 100000 to the defunct
corporations by the National Park Bank.
Other banks and the amounts said to
have been loaned by them on which In.
dictments will probably be returned in
clude the Union Exchange Bank In which
Nogel WAS a director, 10000: the Ma
tional Bank of Commerce, $4,000. said to
have been paid back the Garfield Ma
Ian of hA NA-
tropolis. $4,000: Mount Vernon Trust
Company. $4,000. and the Equitable
Trust Company. which has not been men,
toned previously In connection with the
Siegel loans from banks.
Fear Hitch In Bostoa.
James y. Rosenberg. counsel for the
mercantile receivers, went to Boston early
yesterday morning to complete the reor-
ganization plans for the Simpson Craw-
ford store with the Boston creditors.
some of whom object to paying $4,000
as their share OF the cash settlement with
the Siegel bank depositors. Joseph NJ.
fairfield. counsel for the creditors. who
drew up the plan. admitted yesterday
that the Boston situation was serious"
and represented practically the only
hitch. In case there is a slip up either
here or In Boston. fairfield will prob
ably ask for another adjournment on
Monday because OF the short time al
lowed the creditors to accept the propo-
sition.
Arrangements were made by William
Bonynge. counsel for the petitioning de-
positors in the bankruptcy proceedings
against Segel and Voge to have Chi
cago physician examine Vogel and re-
port on his condition. He had received
no word as to whether Nogel would get
to Mondays hearing before Commits
sioner Gilchrist and was authorized to
order an Independent examination.
BOSTON. March 27.--A compromise was
made with the Segel creditors to-day
whereby the Boston store will pay 3l32,-
500 instead of SAC, 900 toward the settle
ment with the Siegel bank depositors In
order to let the simpson Crawford reor-
gan!zation plans go through. The other
$3.50 will be made up by the Fourteenth
Street Store or the simpson Crawford
store or both Jointly. The last hitch In
the plan Is said TO be removed By this
compromise.