The Montgomery advertiser., 1906-09-06
WILDCAT FINANCE
THAT KILLED A NUMBER OF ITS
 OWN PROMOTERS.
President Nipple. of Real Estate Trust Company, Only One of Phiin- deIphia's Mnny Biz Men Who Have Ended
 Their Lives i'm Tam
 gle of Money.


 Wildcat speculation, followed or pre- ceded either by dedication or betrayal of trust, has been responsible far a startling number of suicides in Phila- delphia among men of affairs and prom irence in the social world.
 Beginning with the sensational fail ure of the Keystone National Bank in tions were as untarnished as that of the President of the Real Estate Trust Company, and which resulted in jail for two of them. Philadelphia has had an amazing series of financial scandals and bank wrecks Bank depositors have lost millions. but the largest in- roads of the wildcat financierE were made in asphalt in Consolidated Lake Superior I nthese two companies the public, largely in Philadelphia, dropped upward of $l00,000,000.
 In nearly every suicide caused by wildcat finance attempts have been made to suppress the facts, as in the case of the President of the Real Es- tate Trust Company, whose suicide was known to the members of his family. the Coroner and the Coroners physi- clan for six days. and was even sup pressed by Philadelphia papers. So de- termined were these two officials to prevent tue news IEOm becoming that the physician filed a false certifi- cate of the actual cause of death. as- cribing it to cerebral hemcrrhage, but emitting to state that the hemorrhage was duo to bullet fired into the brain with suicidal intent
 The circumstances surrounding the self-desiruction of Frank K. Nipple aud of John s. Hopkins. cashier of the Peoples Bank. who killed himself in March, 1898, are strikingly similar oBth men occupied positions of trust, were prominent in church work had rigid code of morals for the govern ment of their employees. and were strict observers of the Biblical injunction to remember the Sabbath Day to keep 1t holy. Neither would ride in a public conveyance on Sunday unless the exi- gency were imperative Neither would countenance the use of liquor or to- bacco in any form. Hopkins main- tained this attitude to the day he de- etroyed himself although he was asso- ciated with the most corrupt cabal of politicians in Pennsylvania. The Peo- ple's Bank was Mat Quay's bank. IL was while he was in control that he wrote the famous letter to a henchman that he would shake the plum tree 7"
 Diner i'm Amount of Theft
 The difference between Hipfle and Hopkins was in the amount of ther
 
 bank got away with only $700,000, which he lent on worthless collateral to a concern called the Guarantors Company He foisted the securities off on the directors as of value, and when exposure threatened, he Brepard him. slf for death and eased his conscience by writing a voluminous letter of con frite explanation to James McManes. President of the institution Then he went into the bathroom of his house, on West Spruce street. and put bull let into his brain
 The fact that Hopkins had taken his own life was kept quiet for three days-not because of any fear of run on the bank, but simply to spare the feelings of the family The Phil adelphia Public Ledger, which was in possession of the facts as to Hip ple's suicide forty-eight hours after his death, and kept 1t quiet five days, knew also of the cause of the death of Quay's cashier the night of the day he killed himself, but did not make the facts public. Hopkins blew his brains out on a Wednesday, and pub lie announcement was made by the directors of the bank on the Saturday following The Coroner of PhiIadel- phia county, Samuel H. Ashbridge. sub sequently the ring" Mayor. did not conceal the facts as long as Coroner King, of Montgomery county, did in the Nipple case, but the same policy was observed then as now, and by the newspapers as well as by county officials
 There are many things in copnec- tion with the Nipple tragedy, which are expected to crop out as son as if is deemed wise from the standpoint of jouAnalistic ethics in Philadelphia 10 permit them to become known. On Iy the barest hint has been given of Hipple's interest in a beautiful woman, not a member of his household. 10 20 into particulars would be deemed cruel and unnecessary. in view of the high moral character of the President. and the many proofs that he opposed sinful pleasures.
 Prayed With Gambling Clerk.
 Nipple always sought, in the em- nloyment of clerks, to bring in young men who were members and regular esmmunicants in some church. He did nat differentiate as to denomination. Tn addition to refusing to have as clerks any users of tobacco or liquor he was opposed to any of his employees reading Sunday newspapers or visit Ing race tracks. As there are no race tracks in Philadelphia. New York was the nearest place for those who sought that form of amusement
 President Nipple learned about a wear after the real estate company was organized that one of his young men had visited Sheepshead Ray and had won a S5 bet The President took him into his private office and prayed with him. He gave to him a marked Bible, and then dismissed him from the companys service, so that danger of contamination would be avoided.
 4 few years ago Mir. Nipple learned that one of his depositors had dr. eived most of his wealth from back ing ahe policy swindle, and he reques- ted hkun to withdraw his account.
 TheNe and other instances are cited to Philadelphia to show that Nipple was a godly man and an uDholder of the mBRal law and his friends try to console themselves and rest his mem- cry by giving him credit despite his