The evening world. [volume] (New York, N.Y.) 1887-1931, 1914-01-21
Partner Vogel Says That Went
Down as personal I.Oans"
to the Business.
THE PARTNER IS BROKE.
"Haven't a Cent" He Cries,
After Tolling OFF Millions
He's Down for Jointly.

The thousands OF depositors in the
defunct banking frm OF Henry Siege
4 Co. learned to-day that theiI
money. loaned to the various store,
In which Henry siegel and Frank y
vogel were co-partners. appeared Oh
the books Of the stores as personal
loans" from Siegei and Vogel.
Further. they we're coolly informed
that the bankers had agreed among
themselves that all debts Of the stores
were to be paid of before the de-
positors' money. borrowed by Siegel
! and Vogel. was to be returned to the
private bank.
Frank Il. vogel. Siegei's co-part-
ner. was examined Mt length to day
before George G. Holt. special mas
ter appointed for the examination by
Judge Hough. Of the United States
District Court. The examination took
place In the offices Of Dous Ass. Ar
mitage 4 McCann. in the Woolworth
Building.
VoEel. under examination by Jo-
seph N. Rosenberg. was asked:
when Henry Slegel L Co. Bank.
ers. loaned money to ono of the Sic
gel stores-Simpson. Crawford &
Co.. for instance--how did It appear
on the books of tho store7
NOT ShoWN TO De MONEY OF
DePoSiroRs.
"The bo0k.ksspers were Instructed
to post on the books of the store
the sum loaned under. tho caption
that II was q personal loan from
Henry SleRei and myself to the store. -
was the reply. ... ...
And tho books Of the store do not
show that the money was. In reality,
the money Of the banks dep0sitors."
"The books show that Henry Siegel
and myself made personal loans to
the stores"
Vogel added that he and Siegei had
an unwritten agreement among them
selves that all the debts owed to
wholesalers for merchandise. TO news
papers for advertising and to banks
and brokers for money borrowed was
10 be paid in full by the stores be-
fore they repaid to the banking firm
Of Henry Sicgei & Co.. bankers. the
sums they had loaned a. personal
loans" to the various Siegel stores.
Much about the money borrowed on
notes by Henry siegel or his partner.
Frank e. vogel. was told In the tes-
timony Of Mr.. Vogel.
A committee of depositors was rep.
resented by John p. Murray OF
Coudert Brothers. John b. Stanch-
field represented Henry Siegel and
Mr.. Vogei. while Arthur e. Train Of
the District-Attorney's stan was an
interested spectator. MIR. Vogel was
examined by Joseph n. Rosenburs.
attorney for the receivers for the
shares.
THE CREDIT OF A Big BUSINESS
MAN.
Something OF a Big Business mans
credit was shown BY Mr.. Vogei when
he submitted his schedule of llabili-
ties. He owed the National Bank OF
the Republic a personal debt OF $685.
s35. secured by collateral. He further
Is indorser for a note for 500. 900 to
tho same bank. tho note being made
by Siegel. but the collateral being
put up vogel a. IAN accommodation"
to his partner. The same condition
exists In q e5o.OO0 loan made by the
Central Trust Company of Chicago.
Mr.. vogel said he also Endorsed u
$4,000 note OF siegel. Cooper a co.
Of Chicago In tho Central Trust Com
pany, but no collateral was put up.
His name, with SieEel's. appears US
indorser OF $4,000 worth OF notes OF
the Simpson. Crawford Company,
these notes being held by. Goldman,
Sachs & So. tho National Park
Bank. the Bank Of the Metropolis and
the Garfield National Bank. With
SieEel. too. he Endorsed 81, 1850, 900
worth OF notes for Siegel. Cooper Il
&C. OF Chicago. thess notes being held
By A. a. Becker, Goldman. Sachs 4
Co. aud Chicago banks
MIR. Vogei explained that hs aud
Mr., Siegel are Joint indorsers OF notes
~ $.5o.O0O of the Fourteenth Street
Store and $2s7.50O OF notes OF the
Ros'on store. Further, h, Is jointly
liable with Sicgel for the rental OF
the Boston store, for which they
signed lease for SSsO,oOo a year. this
lease having sixteen years to run. =
total liability Of ts.Os0.O00 Further.
he Il Jointly liable on 100000 worth
Of the bonds Of tAs sinpsea Realty
Y ~ = Ii n. Z Z. K 80, -, Il I, 4, a "A