The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-03-12
HENRY S|EGEL
INDICTED FOR
GRAND LARCENY
Hears the News While Testi-
flying in Bankruptcy Pro-
ceedings, Which Are
More or Less Riotous.
BILL IS RETURNED
AGAINST PARTNER
Men Released on Bail of $25,.
600 Each; Personal Vio-
lence Threatened by
Angry Depositors.

NEW YORK, March 1I.-While
Henry Siegel, head of large department
stores in New York, Chicago and Bos-
ton, was testifying today in riotous
bankruptcy hearing IN the federal build
ing, the grand jury that has been inves~
tigating the failure of the siegel stores
in New York and the savings bank re-
turned three indictments against him
and his partner, Frank E. Vogel, in the
banking enterprise.
Siegel and Vogel were taken to the
criminal court building, where they were
arraigned, and later released on S25, 900
bail each Three hundred angry depos-
itors who had been elected from the
bankruptcy hearing hunted around the
federal building for Siegel IN vain. AT
the time they were searching to ques
tion him, he and his banking partner
were standing before Judge Rosalsky
pleading not guilty
Basis of Indictments.
One of the indictments charges Sic
gel and Vogel with grand larceny, In
that they made false statements to the
Bank of Commerce IN order to borrow
$25 900. The other Indictment alleges
that the two bankers accepted deposits
when they knew the bank of Henry
Siegel & Co. to be insolvent.
Siegel testified on the stand at the
bankruptcy proceedings that they did
not invest capital in the private bank
that bore his name, Miss Jessie Mar
tin interrupted his testimony and said
that she had a right to represent the
depositors at the hearing. She was
urged to remain quiet. When she re-
fused she was led from the courtroom.
Three hundred depositors vino were
standing around the corridors were also
put out for shouting threats of violence
against Slegel.
SiegePs Testimony.
Siegel testified he and Vogel fled
bond and purchased fixtures Tor the
bank. Then he admitted they accepted
deposits and made them act as a foat-
ing capital for the bank. BE declared
he had no money to pay what he owed
and he declined TO answer question as
TO whether an entry was made on the
books OF the stores when they borrowed
from the bank, on the ground that II
ight incriminate him.
Siegel said he had life insurance pol
icies made in favor OF his daughter to
the amount Of $4,000, He once owned
some paintings which, he said, his wife
took four years ago. lie had no Jew
elry. In regard to his partnership with
Vogel in the private bank, he said he
and his partner had an agreement to
year. He sand his salary from the SlmP'
son & Crawford store, in New York,
was $1,000 month, the Fourteenth
street store, also In New York, $3.50
month. and from the store III Chicago
$1,000 a month His wife, he said, spent
most Of the $4,000 year Tor hls living
expenses This amount represented his
total income.
Shows Fear.
When one of District Attorney Whit
mans detectives. who Ind been sent to
the federal building TO watch Siegel ana
his partner told Siegers attorney that the
had been returned. Siegei
turned pale and from then on stammered
out his answers to questions put 10 MN, I'm
ground floor OF the building in private
elevator, so they might dodge the mob
OF deDOSltOrS waiting lot tHeI1. when
the pair arrived before Judge Rosalsky
both of them appeared daSed
A representative Of the law firm OF
stanehtiela q Ley 5Se psntered pea
OF not bullty for the two men. They
were then given one week In whioh to
withdraw the pleas X they 30 desired or
to make such motions as might be deemed
necessary. After having their bail ac-
cepted, both men left the court. Both de-
clned to talk,
Charge Of Larceny.
In the indictment charging grand lar
cenv n Is alleged that at the time the
men applied for the loan from the Ma
-ional Bank Of Commerce on May II.
L912 they said they had above their la
,llities ST. 1885, $50, and il was charged they
we're insolvent even then. The other IN
IIrtments allege that two depOsitors were
allowed to deposit 500 each In the SieSei
Va nls on December 90 1918. when both Sic
rel and Vogel are said 10 have known the
,ank to be insolvent. The indictments by
10 means end the grand jury proceed
ngs 1t is alleged that an investigation
w the district attorneys office has dis.
iosed discrepancies of nearly S2OOOUuo
etween the books Of the Stegel stores
nd banking enterprises and the IinapcIa
used a basis OF additonai
redts before tho failure. II is said the
otal OF the discrepa ncies may even reach
higher figure.
The Fourteenth street store. the Simp-
on Cra wford company. the banking firm
[ Henry Siegel e. Co., Henry SieSol d
a., wholesalers, and the Merchants Ex-
(Coutinued on Page Two.)