New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-13
Dividend Plan Easy.

We have evidence said Mr.. Train
yesterday. that money of the depositors
In the Sicgel bank was paid TO the pre-
ferred stockholders of the Sicgel stores
Corporation in the suise of dividends
upon Simpson Crawford stock. held by
the stores corporation.
Whenever those running the stores
corporation thought il would be good
form to declare a dividend the Simpson
Crawford Company would get the money
from the Siegel bank, vote a dividend on
its own stock held by the stores corpo-
ration and turn the money over to it,
the stores corporation passing it along TO
the preferred stockholders.
All there would be TO show that the
depositors money was so used would be
an entry in the books OF the bank The
Simpson Crawford Company would not
even take the trouble to enter the loan
on It's books. much less give a note to
the bank
The depositors who met in the West
18th street loft yesterday afternoon were
not the same riotous crowd that met on
other days. though but few Of the tamil
lar faces were missing. One week ago
Irving j. Cooms was mobbed because he
suggested the acceptance Of the offer OF
50 cents on the dollar made by Siegels
friends and accept notes for the rest. by
the followers Of Miss Jessie A. Martin
and A. n. Bresel. who were not present
Yesterday. Yesterday he was cheered
when he repeated his advice that de-
positors take what they could get.
Jacob II. Latter. who week previous
had been called a crook for advising de-
positors 10 go slowly. was cheered when
he pointed out the error that he consid-
cred had been made in rejecting the offer
OF the Depositors Realization Corpora
ton. and again when he said he had
been informed that the offer would be re-
newed IL the deposi,ors would get Mr.
Whitman TO stop the prosecution OF Sic
gel and Nogel
Il am in favor OF asking the District
Attorney to deal gently with these men II
they will do what they can for u.s. de-
clared Latter, but / won't lead a COM
rnlttce 10 Nj Whitman. II ] do, Miss
Martin will lead committee opposed TO
that TO his Office the next day
Edward NJ. Curtin urged the appoint
mcnt or EucU EOUlUillltt 10 Stt NhdS
promises could be obtained from Siegel
and Vogel. and If satisfactory confer
with the District Attorney. This sugges-
ton vas agreed TO unanimously. and Mr..
curtin was named as the head OF com
mittee Of ten.
When this about face was presented
10 Louis E. Levy yesterday afternoon. he
declared his clients were willing TO do
ANYTHING in their power 10 aid the de-
positors.
II Messrs. siegel and Vogel," said he
ARE left I'm a position TO work and obtain
money. they will do all in their power to
reimburse every depositor in full. If they
arc not left in a position TO work and
earn money for the depositors they can
not get the money 10 pay the deposltors.
Only $4,000 in Cash.
Mr. Levy holds out no hope that more
than $4,000 can be looked for from the
friends OF siegel and Vogei at this time
Tba, he says. represents every dollar
,ha, can be raised The longer a settle
,nont is DELAYED the less money there will
be available. as lawyers and preparations
10 fght prosecution tV7t0 ii'''NS'
i, was learned yesterday that on Mon
5av Henry a. Plat, Of the law office OF
Lev, MAYER. o. Chicago. spent the greater
mart Of the afternoon trying 70 convince
NJ. whitman that the grand jury in
qulry should not be reopened, 20 that the
depositors might get some, at least. OF
their money now, and be given chance
10 get the rest lie had s2Jooo IN his
possession AZ the time. and Mrs. Vogei
h understood 20 have had ;2o,ODo ready
20 give 40 from friends Of herself and her
husband
PIatt then learned, a. did The Tribune,
that Mr. whitman proposed calling siegcl
and Vogol 10 the bar on "wednesday 10
MEAD 10 three indictments. Piatt soon
after loft the city. but lac ~ understood
10 be in Philadelphia. 80 that tho resuDp-
ton OF negotiations would find him back
In New YORK IN short order.
Pressure has been brought 20 bear from
other sources on Mr. Whitman 10 induce
him 10 drop the prosecution Of siesel and
vogoi Home have used political argu-
,oeufs. bat 10 all Of these he has turned
a deaf ear
Just now b.. IL DESTROYS Of substantial