The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-17
NO HALT LIKELY IN
SIEGEL PROSECUTION
Whitman's Friends Say Effort
to Blame Him for Loss
Will Not Interfere.
HOPE FOR THE DEPOSITORS
Mercantile Creditors May Buy
Up Banks Claims Against
the Stores.

Lawyers. some depositors and unlden-
titled individuals are energetically going
among depositors Of the private bank Of
Henry Siegel 4 Co. and telling them that
II 1t were not for the prosecution begun
by the District Attorneys office they
would receive in time 100 cents on the
dollar, and that since the men have been
indicted the s45o.0o0 raised by their rela-
tives and friends TO aid the depositors
will now go to keep them out Of prison.
Henry Siegel himself in an interview
given out Sunday reaffirmed this state
ment when he said: Now that the de-
postors have seen At to reject IL Cthe
s4bo. 900 ofrer. and the District Attor-
ney has indicted us that money will be
used to fight those indictments"
Louis s. Levy Of Stanchfield 4 Levy.
who are to defend Siegei and Vogel said
on the day the men were indicted:
"Our clients desire earnestly 20 pay the
depositors In full and II they are LEFT free
10 work out their plans they Will do IL.
OF course " they are not free they will
not be able TO do it
a committee OF the depositors or the
bank Is TO plead with the District At
torney TO go as easy on the men as his
duties will allow In order that they may
make substantial settlement.
action the campaign to put him In a
hole" as II was described In the Grim
ina Courts Building yesterday. has stiff
fened his back. He recognizes. IL was
said, that an effort has been made to
blum him almost from the day the Siegel
enterprises went into the hands OF
receiver and that advantage has been
taken OF his forbearance. He is de-
terruined now TO do his plain duty. TO
have such indictments handed down AS
the Grand Jury will find and TO prosecute
the cases 80 soon as his assistants are
ready to try them.
Mr.. Whitman would not discuss the
case yestreday, although friends Of his
said that he realized that every EFFORT
was being made to shift the blame onto
him In case the depositors now receive
only few cents. II was pointed out
that he went through Il similar expert
epce when he prosecuted William j. Cum
MINIS Of the Carnegie Trust Company and
his associates. Mr.. Cummins has just
gone to Sing Sing. and II was the cry of
his friends that prosecution cost the de-
positors heavily. While there are 1900
depositors OF the Siegel bank. ss against
less than a third as many in IN. Carnegie
Trust IL was said that he could not allow
the civil aspect OF the case to deter him
from doing that which he IL sworn To do.
1t IL not so black after all for the
deposltors. The mercantile creditors are
anxious TO get rid OF the banking situa.
ton and they are contemplating buying
out the depositors. ~ II understood that
they hope to be able to offer the depositors
$4,000 for their claims against the
Simpson Crawford Company. SIS. 900 fol
claims against the Fourteenth Street Store
and SIS 900 for claims against the Boston
store The offer has not yet been made
and may not be made unless the sale OF
the two New York estabi. hbents on Marcf
% warrants It.
John =. Murray. counsel for the de-
posltors' committee. said that he thought
the other creditors could make a better
offer.
The Simpson Crawford Company build
/ ing may not be abandoned. II was re-
ported that the enterprises OF which Johr
/ Clatin is the controlling factor may bu,
out the stock and continue the business
Mr. Clafiin declined to discuss the report
Leo A. Price, who has recovered tn,
right to use the name Rothenberg a
| Co, may open up In the Fourteenth
Street store building. He will have
conference with the representatives of tn,
eight landlords today in an effort I,
have the rent reduced TO figure h,
thinks fair.
Mr. Price was very much surprise,
| at reading advertisements for the sal,
OF Driftwood the Henry Siegel summer
home at Mamaroneck. Mr. Price owns al
the stock of the IA. - Realty Company
In which Mr.. Segel carried all his rea
estate. and he said yesterday that he has
never advertised the property. He wa
anxious to find out who made the offer.