New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-11
SIECEL BANK CASE
NEARS GRAND JURY
Whitman Going Over Evi-
dence Carefully Before
Presenting II.
DEMANDS BALANCE
SHEET OF DEC. %
Now Investigating Complaints by
Creditors of Stores-Depos-
itors Still Angry.

The District Attorneys Office finished
its preliminary inquiry into the complaints
OF depositors in the banking house OF
Henry Segel G. Co Yesterday and then
took I'd the complaint by mercantile and
banking creditors Of the Fourteenth
Street store and other Siogel enterprises
Srowing out of the failure Of those CON
Germs 20 include in the statements OF their
financial condition when asking credits
the loans made by the banking house.
This inquiry. il Is expected. viii be
ended tomorrow or Tuesday. when the
entire case will be in shape TO present 10
the grand jury.
Henry Melville. receiver FOR the bank
was Yesterday called upon TO provide the
District Attorneys Office with a copy 81
the balance sheet Of the bank a of De
cen:ber %. the day il ceased doing bust
ness. Assistant District Attorney Train
received it shortly before noon. together
with a mass of other data bearing upon
the affairs OF the Siegel concerns.
The action Of the District Attorney IN
asking for these papers is taken in the
Criminal Courts Building 10 mean that
the investigation will be thorough and
that so far as may be necessary. the
money OF the depositors will be traced. as
well as the ways and means used to oo-
tain credits for the stores.
Whitman Going Carefully.
Mr. Whitman was not in his office yes
terday. but persons familiar with MS
plans said he was arranging 10 present
the evidence that his assistants have been
sitting to the grand jury not later than
Wednesday. his delay in doing so Garner
being in line with his practice of prepar-
ing cases carefully and also TO desire
10 let those who are trying TO arIaiise
new financing for the Chicago store TO 90
so with as little embarrassment as pos
sible.
In this connection the District Attorney
is said 10 have taken the position thal ds
the ends Of Justice would not suffer De-
cause Of a delay Of few days and many
innocent persons be saved from loss ue-
cause Of such delay, it would be best 10
move SLOWLY. Hard and fast promises by
counsel for some OF the men interested
that they will not leave the jurisdiction
OF the New York courts pending possible
action by the grand jury also helped MIN
decide TO permit few days OF grace.
The depositors in the bank held series
Of meetings yesterday in the loft No. %
West 18th street. Chairman John ;.
Munich. who in his personal appearance
strongly resembles William Jennings
BRYAN. made several speeches In whlcn
ne attacked the money devils of Wall
,tf
laws that would have made the present
state Of affairs impossible and quoted
Lieutenant Governor Robert F. Wagner,
whom I knew when he was barefoo;
newsboy.' as promising that a bill ending
the present system would be enacted at
once.
Wall Street and its millions won't in
terfere this time he declared
Notaries Are Busy.
While Munich talked three notaries were
busy taking powers OF attorney and aft
davits from depositors. Several hundred
signed. making the amount of deposits
represented by the committee close % q
per cent of the total deposits in the bank
Late yesterday afternoon the several re-
engaged on the Sege books began the
task Of trying 10 reconcile" the books oil
the different concerns They worked the
greater part Of the night and will work
day and night until the work is com
pleted. or at least in such shape that high
speed will be possible. AS it is it will be
several weeks before the thousands OF
accounts are checked up one with another
and various transactions made clear.
1t is bad enough when you have the
books OF but one concern TO go over.
said Receiver Melville yesterday, blu
when you have several interlaced as these
are It is hercuiean task"
Many depositors called upon Mr.. Mel
willie yesterday TO ask when the 10000
being raised for the Chicago store woulC
be available. and how IT would benefit de
positors here.
1T will beneht you only remotely, II a
ALL" he ,old them. I'D like to be able Il
tell you otherwise. but there is no use ia
raising false hopes
Chicago, Jan. l0-The capital stock o.
Siegel-Cooper & Co. OF Chicago. wa'
doubled to-day when the directors voteC
20 issue 81. 1000 preferred stock. or this
according TO a statement by Max Pam
attorney for the company. 100000 vii
be taken by friends Of Henry Siegel anC
Frank L. Vogel
Under the changed conditions says
the statement. "Siegel, Cooper & Co vii