New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-15

the two stores, and about three hundred
depositois In the bank were holding an
informal meeting in the building at No. "a
West 18th street.
All were anxious to know what was
back OF the reputed offer of Louis =.
Levy. OF siegel and vcgel's counsel, To
pay the depositors 10 cents on the dollar.
To learn this a committee OF those who
had been prominent In the agitation
against accepting n previous offer was
sent to his Offices II did not return TIL
after nightfali, when At a meeting held
by the light of matches Il reported prog
ress.
MIR. Levy had previously informed the
reporters that he had made no offer to
Samuel Hoffman OF anybody else.
Says No Offer Can Be Made.
NO ofrer has been made" said he
and none can he made so long as these
men are involved In the criminal law.
We cannot he party To the making of
proposition for deferred payments I'M
less there Is a chance Of making good
through the individual efforts OF OH.
clients"
THE offer that was made by the De-
positors' Realization Corporation repre-
sents the extreme limit. Conditions have
since made the carrying out of that Offer
impossible
According 10 the statements made ia
the depositors. money will be Forthcoming
II Mr. Whitman agrees to allow Siegel
and Vogel to remain at large. This. ii
was repeated yesterday, the District At
torney will not do. Persons IN his conf
dence said that apparently efforts on the
part OF persons working for siege to
make IL appear that the District Attor-
ney's office is responsible for no money
being paid TO the depositors Is having the
opposite effect.
Whether Mr.. Whitman's offer to accept
plea of guilty 10. one felony and to file
all other complaints is still available is
now a matter of doubt.
However. he will not agree to ASK the
court TO deal gently with those indicted.
as depositors have been led to suggest.
Joseph M. fairfield. counsel for the
| mercantile creditors committee. of whicf
| Pierre Jay is the head. is ready to make
a compromise with the bank depositors
| by which the latter will receive SIS, 0O0 ol
| Whereabouts. for their claims. as com
pared with the $4,000 previously of
| fered, the reduction being due &c
the fact that the Boston store car
no longer figure in the negotia-
tons Because OF this the bankruptcy
proceedings scheduled for Monday have
been postponed, giving the mercantile
| creditors until Wednesday TO reach some
| agreement. The offer. IL made. will be
more for the sake of avoiding cost
| ly and long drawn out litigation than
anything else.
In Boston yesterday il was arranged ia
| continue the Henry Siegel store under The
ownership of W. A. & A. Bacon, a cent
ury-old Boston house. This was made
possible by the rejection of lower Did
| by department store for the stock and
the agreement of the landlords to reduce
rents TO a reasonable basis. Could the
| landlords of the New York properties be
| induced 10 do likewise the chances OF
keeping the stores here going would be
most excellent.
The local owners. however. will not
| yield but fraction Of what the mercan
| tile creditors think they should in order
TO assure a reasonable chance of the sue
cessful operation Of the stores.