The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-09

prjvatp cppact,v That stuff is nothing
to the dcpositors and greatly fear that
they have been encouraged to believe
that there is something there"
Referring to the sale OF bank DOCKS ny
depositors who are in need OF money now
Judge Hough added
There has grown up species OF trafi1c
In these books OF deposit. Because
suppose. ] am ignorant of many things
] ought to know. II never occurred 10
me that such thing could be. ON
that account I am the more moved to
make protest before any more OF that
sort OF thing can occur"
AHidavits Are Questioned.
Mr.. Murray said then that there were
present reporters who had followed the
case closely since the failure. He asked
that the court hear them. c. A. Leidy
and J. J. Leary, newspaper men. informed
the court that the afiidavits concerning
the meeting of April were OPEN to
question for the reason that II was physi-
cally Impossible for 500 persons to get
into the room where the meeting was
held and that the feature of the meeting
was the lack of unanimty. When Jacob
II. Latter a depositor. had affirmed the
statements of the reporters Judge Hougn
said:
THE argument in favor OF immediate
6lvtG1DutlOn Is n very StTOnR one. ~ Wteh
ago I could not see how any good bust
ness method could be devised without
mourning expenses out OF all proportion
to the benefit. I was in error. After
consideration think that the general
scheme outlined by Mr.. Proskauer can
be put through without undue expense"
Judge Hough ordered that $500, 900 be
distributed Immediately, at the rate Of
IL. per cent. of the amount OF each
claim. Creditors of the bank here and in
Boston must file proof Of their claims
within sixty days and passbooks are to
be taken as proof of claim.
In the event that the 100000 now held
by the city Chamberlain for the state ID
paid over to Mr. Melville before the dis
tribution is made. 80 per cent. will be
added to the amount paid to each claim
ant. Each depositor will be notified OF the
order and 1t will be publicly advertised
on April l3. The Boston dcpostors do
not share in the 100000 distribution.
Deputy Attorney General McQuaid said
yesterday he thought there would be no
delay in turning over this 100000 to Mr..
Melville.
Inst Day Deposits.
An additional order directs Mr. Melville
to pay over now the untouched deposits
made In the Boston branch on December
.? and 80. on Friday Judge Hough will
determine whether or not the sl6.S45 Of
deposits made in New York during the
week OF the failure are to be paid back
directly or are to go into the general
fund.
When the arraignment Of Siegel and
Vogel was reached on Judge Mulqueen's
calendar and the defendants did not APP
pear Assistant District Attorney Train in
formed the court that he had received no
message from them or their counsel.
Stanchfeld Levy. Judge Mulqueen
waited n while and then ordered bench
warrants to be served. Lieut.. Edward
Ravens and Boots Trojan took the war;
rants.
Ii was learned that both Mr.. Stanchtield
and Mr. Levy were out OF town. Finally
the defendants appeared with s. r. Hart
man of Mr. Stanchields Office. were for
mally arrested and arraigned. They
pleaded not guilty and Mr.. Hartman
asked Cor ten days TO make motions. A
week was finally agreed upon. The Ma
t!0nal Surety Company furnished bonds OF
$4,000 and they were signed after long
distance telephone message from Chicago
made the indemnity satisfactory.