New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-10
INDICTMENTS DUE
in SIECEL CASE
Bills, Expected Tomorrow
from Grand Jury, May
Hold Three.
CONTESTED PAPERS
ARE SURRENDERED
Bank Depositors in Stormy Hear
ing - Girl Leader and
Crowd Fooled

Unless the unexpected happens. indict-
ments will be voted in the Henry Sesel
4 Co. bank failure tomorrow Three per
sons il is understood will be charged
with incorporating the financial condi-
ton Of the Slegel stores mere and i'm Bos-
ton 10 banks and mercantile creditors.
Under one section of the code this is
misdemesnor; under another 1t is a
felony. It is expected that the Indictment
will be 50 drawn as 10 allow the District
Attorney 10 elect which section ne may
? visn TO so 10 trial upon.
The presenting Of evidence to The grand
/ Jury i'm the Siegel case will be resumed
tomorrow morning. II is expected that
before nightfan the indictments VIII be
ready.
Louis : Levy. VI StsnchAeld & Levy
counsel Tor Henry Siegel and his associ-
ates. Yesterday decided 10 contest no long
or the demands OF Arthur G.. Train, As
sistant District ATTORNEY. for the papers
- I'm his possession declared to be the prop
crtv Of the several Siegel corporations
hut which he declined TO give up on the
ground that they were the private prop
crty OF Siegel As such he had urged he
, could not be compelled 20 produce them
His change OF mind relieved him from
/ the contempt Of court proceedings begun
on Friday. Three balance sheets were
sent 10 Mr. Train. Late ia the afternoon
additional papers were sent to him THESE
were received after Nj. Train had con
I ferred with William \. Marble and Jonn
s Sheppard. ir., receivers OF the 7iesel
mercantile enterprises in this city. Henry
\. Melville Of tho bank. and Joseph Erie
del treasurer of the Henry Siegel Com
pany of Boston, These men are among
those expected TO testify at the tllal OIL
the cases growing out OF the failures.
I'm addition 10 these the principal wit
resscs against the persons whom II IS
purposed TO indict are the credit men OF
several mercantile houses officers OF
banks and employees Of mercantile aSen-
cios. with Oscar Prall, confidential EN-
plove of the Siegel concerns. the star Wit
ness. BY him and through the papers
given I'D by Mr. Levy Yesterday the peo-
ole will expect TO prove the necessary
knowledge to establish guilt.
Mr.. Platt. who represents the No6el in
terests more than those Of Siegel is de-
scribed as the man on whom the reor-
Sanization OF the stores 10 d great extent
depends He is authorized, according TO
reports 10 subscribe $4,000 to float the
new company II is probable that the
Department Stores Corporation. soon. to
secure charter in Albany. will bid for
the properties
This concern, as now planned, will have
100000 capital. or this amount 100000
win be preferred stock.
The announcement in The Tribune on
sunday that the Siegel stores would short
~ be offered for sale TO ;he highest bid
der or bidders was officially confirmed
Yesterday al a meeting of the bank cred
itors before Judge George c. Holt. sitting
as a special master. James y. Rosen-
berg. representing the receivers, asked
that an order issue for the sale Of these
properties. on which he declared money
81 being lost daily.
The hearing before Judge Holt was
stormy as Siegel depostors meetings are
4 wont 10 be- Once Judge Holt had 10
threaten 70 adjourn the hearing in order
10 htNult AAAcNs ~ Niii' AANRA'''7 "~''''
MURRAY, for the depositors. asked that
;he Depositors Realization Corporation
which had offered to pay the depositors
90 per cent OF their claims in cash and
the balance in notes be asked 10 put the
$4,000 necessary in the hands Of Judge
Holt so action was taken upon the re
guest
After Judge Holt hsd advised that all
depositors write him expressing their
wishes and a vote against accepting the
ioffer was taken the hearing adjourned
without day.
The meeting over many OF the depos-
itors. led by Miss Jessie A. Martin
ewarmcd into the Postoffice Building 10
attend a hearing they said was TO be held
before Commissioner Alexander Gilchrist.
ir Marshal Henkel had considerable diff
aculty In clearing the building without
rescrting TO arrests.
Subsequently an Indignation meeting
WAS held in the loft building No. i5 West
18th street and delegation sent 10 the
District Attorneys Office 10 offer to tes-
tlfy in any proceedings. a clerk thanked
the committee for rs offer.