The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-26
SIEGEL OFFER MUST
Be SETTLED MONDAY
Bids Held Up, but Judge Warns
That No Further Delay
Will Be Granted.
GIMBELS AGREE TO WAIT
Offer for Fourteenth street
store Rejected-Public
Auction Ordered.
G1MBELs AGREE TO WAIT

Al a hearing IN the limited Statcs Dis
,r,ct Court Yesterday on the bids for the
assets OF the bankrupt sIegei concern
Judge Uourh ordered the tentative &C.
ceptancs Of the S3s7.soo bid OF Gimbcl
pro. for the merchandis. OF Z. q Simpson
Crawford store n the receivers for the
stores ana the private oank 90 not agree
~ w. 49,, -.
oeRe' ehte'pr'seS ny heA' "io"u"s' W
order that the proposal or the Siegci
stores Corporation to take over the Simp-
son Crawford store and the Merchants
E,press may h. carried ON, IN. Cimbel
"'
bros p'o VIII ne many cohh'he"'
on the report OF the receivers that the
bid Of s. 3. Stelnfeld h Co. OF Sl70.501
for tho merchandise of the Fourteenth
CO., c.. .so.,. en-. i,,,g.
'u'e' go ' "o' "''au.e .e
rejected the pid ana directed tnat All 'he
merchandise be sold at public auction. de-
partm.nt by Department. lie also directed
thu, tho ooco,n,s r.o.,,,hi. no IN. I,o,r.
..,. CT. CT. -, -, a..
'oen'" "'ree' SUIT MS WIZ IN vi '"o
simpson crawford store be collected ny
the trustees and not sold.
,or tho Ne,cbo,,. rxn,es. cor,arv uo.
" '''' 'P'
allowed until Monday to stand by the bid,
'eau.s'eu d" ''ii"'eu'A'e uec'Son'
All other matters were held in allegiance
until the final hearing next Monday. be-
yond which the court said there would be
M f,r,h,r .a,ournrar,
"' ''' '"'' "''ou' '"'''
G,mbc,s Cou..rs "a Ds,.
Elihu Root, Jr. counsel FOR G.moel
Brof, OBJECTED AT hrst TO delay. saying
that the stock which they had bid on con-
sists OF fall and winter goods and II was
necessary To begin deliveries at once. but
the company agreed 10 stand behind Its
DID III Monday.
judge Tough said that letter had
been received from John Clafn. who il
interested in the reorganization OF Simp-
son Crawford Company. lat In case
Climbed Bros. withdrew their bid he
would. for the protection OF the creditors,
pay the difference s+OOO0J between his
second highest bid and that of Gimbel
Bros
John +. Murray OF Coudert Bros. said,
IN discussing the proposed compromise OF
the claims or the receiver OF Henry
siegel Co, Bankers. that he believed
In the event OF litigation the depositors
might get SJ' ''ooo. but he advised set
si~Gei's Hearing Postponed.
.o,t, ,..,., D.. -,.
~,,n,cd h,. I,,d.a nnya,.L, c ~
S.s.lon. Eo,,, ,os,ard,, .,,,,, ,,,'' 80
.or, ~ IN. n,s,,,c, h,,o,n.~ -, ., o..
nal n,o,io, mad. on hahsi, 'n 'i III ,o
s,epeI when he p,eaaed no, yuii,v ~,
cmbe,,,emen, nm Mach ~ ,n., w.,
allowea 10 wi,bdrav M. Mo. .nd ..n,..,,
over"
Discussing a report TINT Henry Sieoe,
and Frank f. yogel intend TO MEAD INA.
they are technically guilty and ,brou,
themselves on the mercy OF the cour,
Iouis 4 Levy. counsel for sIe,al said.
THE status OF the case remains nm.
changed The time was extended for the
purpose OF giving more time 10 make such
motions as We may see Ht We are nor
prepared 10 say what motions We may
make. II any"
The Grand Jury will induire further
into the case tomorrow and more in
dictments are likely to be found.
The belief Is growing that the numer-
Gus requests for extension OF time in
which Siegel may plead over" have been
District Attorney that II he Presses the
/