New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-09
TO PAY SIEGEL
BANK VICTIMS
Continued from hrst page

hotb mon would be produced at once.
when they did arrive at the NiI''il''"
Courts Building, accompanied py ".0e
fr;ed y Hartman, of counsel they
were taken into custody ana o"e'''
TO the bar as prisoners.
Through Mr.. Hartman they eh'e'eu
D,oos of not guilty, and asked for ten
davs in which to examine the IhuIo'-
uonts and change their pleas MI
Train thought FIVE days was enough
and Judge Mulqueen split the Ill
ference and gave them one week
Then the question of bail arose As
the men had been freed on the hrsI III
d;ctn,ents found against them the SO
900 bonds on which they were d. i'D
ortv were automatically vacated. lhey
asked that the old bonds be renewed
For the surety company Harold Nor
&c Objected unless the Chicago capt.
taIists who had secured the company
against loss would give another unue'
TAXING Mr.. Hartman induced MT.
Norris 10 wait until Chicago could pe
communicated with, and when the re-
ouired guarantee was received Norrls
signed the bonds. and the worried look
left the face Of Siegel.
AT the time Judge Mulqueen was or
Gcring bench warrant, Judge houSh'
in the United States Court, was con-
zidering the question Of dispensing the
assets Of the Siegel bank. The matter
come I'D on a request from Receiver
Melville for instructions. Mr.. PROS
kauer. representing the receiver tcid
the court there was S3550O0 cash In
hand and that 100000 from the bond
was in sight.
Ralph Wolf. OF Hays, Herschfeld &
Wolf. counsel for several hundred de-
positors, he said and John +. Murray
counsel for nearly one thousand oe-
positors. had asked that the money IN
hand be distributed at once.
Urges Immediate Payments.
Mr.. Wolf agreed with Mr. Proskauer'
and Mr.. Murray aroused a storm OF ap-
plause from the depositors present
leading TO threat TO clear the court,
when urging immediate payments. 10
pay the depositors through bankruptcy
he explained. would wipe out several
thousand depostors. He had yet TO
find a depositor who did not wish 10 be
paid at once.
William IT, Bonynge, OF Olcott. Gruoer.
Bonynge e. McManus, representing GU
ents who are depositors. objected 20 the
payment through the receiver In equity.
a. advocated by Messrs. Wolf and Muir
ray. and in support OF his objection pre-
scented anidavits from five persons set
ting forth that at a meeting on April
1 five hundred depositorS were unanimous
I'm requesting that none Of the money be
paid out until il could be distributed.
G. o. Lc.dy, reporter for The AmerI
can" responding 10 Mr.. Murray's re-
quest, said that the aflidavts did not cor
rectly state the sense OF the meeting nor
give the resolution correctly. There was
no such number present, he said. and the
motion agreed TO declared against any
bankruptcy proceedings until after tho
money in hand had been paid out in one
lump by Mr.. Melville.
John j. Loary. jr. OF Tho Tribune staff.
corroboratcd Mr.. Leidy in describing the
action which the afiidavits purportcd 10
describe. The depositors. other than
those interested in a certain. lawyer.
wished TO get their money at once. he
said.
samuel Hoffman. who. after close ques-
tioning by Judge Hough. said no rep
resented ono hundred aud flftH deposit
ors, objected TO the appearance OF the
newspaper men In the case. lie was
10 be paid | per cent OF what was re-
covered by his clients. he said, and WIS
not working for nothing like Mr Murray.
In reply 10 questions by Judge lIough no
denied sending notary 10 the receivers
ofrcsh 10 solicit claims. or OF prontlng by
claims so solicited In any way.
Jacob ". Latter. a large dcpositor. told
the court tho affidavits were false. The
depositors wished their money Mt once,
he said, and dih not want any wasted