Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1906-09-03
EMBEzZLER
AND SUICIDE
SUCH WAS PRESIDENT OF FAILED
TRUST COMPANY.
MADE BIG PERSONAL LOANS
Let Promoter Have $5,oo0,0oo Un-
known to Directors, Hypothecated
School for Ladies-Coronor Kept
Secret Real Cause of Death.

Philadelphia, Aug. DETERMINATION
of the securities held by the defunct
Real Estate Trust company yesterday
developed the fact that President Hip
pie, who committed suicide, was an
embezzler. The authority for this
statement is George H. Earle, Jr., the
receiver for the trust company. Earle
declined to say what securities are
missing, but he declared that Nipple
had hypothetical $4,000 worth OF
the paper, securing $4,000 of the Sc
curities, which he never returned.
Earle further declared that Nipple
embezzled the $5,000,O00 he loaned to
Adolph Segal, the promoter. These
loans, Earle asserted, were personal
transactions. Although made in the
name of the bank the directors had no
knowledge of them, consequently the
money was stolen by Nipple, said
Earle.
Another enterprise in which the
dead president was financially inter
ested was discovered yesterday when
it became known he was one of the
incorporates of Miss Wright's Select
School for ladies, at Bryn Mawr, the
suburb in which Nipple had his sum-
mer residence. Other incorporators
were his son, F. Wharton Nipple, and
Miss Wright. Last year she pur'
chased a large stone building at Bryn
Mawr, at a cost, it is said of 100000,
and established her select school.
Miss Wright said yesterday that Hip
pie visited the institution two or
three times a week His last visit
was, according to Miss Wright, on
Thursday afternoon Of last week, the
day before he shot and killed himself.
Took His Own Life.
The suspicion entertained that
Frank K. Nipple, president of the
closed trust company, who was found
dead at his home in Bryn Mawr, Pa,
last Friday, committed suicide was
confirmed yesterday by Joseph N
King, coroner of Montgomery county
When he made the announcement Dr.
Albert H. Read, the coroner's physi
clan, was standing near and he add
ed: you can say that Mr.. Nipple
blew out his brains"
Since the death of Nipple the fam
lily physician and the coroner main
tanned that he died of cerebral hem
orrhage while taking a bath. The
coroner said:
When l went to Bryn Mawr Fri
day morning to investigate the sud
den death of Mr. Nipple l found that
he was the president of a trust COM
pany and when l discovered he had
committed suicide 1 decided to sup
press the fact a few days in order to
prevent a run en- the company. l
thought that if there was anything
wrong in Mr. Nipples transactions
the directors would have chance 20
make up whatever defects there may
have been"
did any of the directors of the
bank or members of the family re-
quest that the facts of the suicide ne
suppressed?'
mo, sir, they did not. Any action
taken by me was voluntary"
Several men prominent in legal af-
fairs told me today that I did right in
suppressing the facts until the direc
tors had a chance to make an inves-
tigation.
Shoots Himself in the Mouth.
The coroner also said that when he
arrived at the Nipple residence last
Friday he was met by the son of the
deceased. The young man did net
at first say that his father had com
united suicide. 1t did not take the
coroner long to discover the cause of
death. Nipple had placed the muz
zIe of a 38-caliber revolver in his
mouth and shot himself The bail
passed upward and lodged in the
brain. The shooting took place in
the bathroom. Nipple arose shortly
before s O'Clock and Mrs. Hipple was