The Montgomery advertiser., 1906-08-30
THE BANK MAY BE RE-0PENED,
 / Receivership Will Be Only Temporary. CHURCH FUNDS ARE INTACT Not Believed That They Have Been
 Tampered With. Directors Have Not Abandoned Hope Of Raising ss,5O0,O0O Needed To Supplement Amount Offered by the Clearing House.
CHURCH FUNDS ARE INTACT

Philadelphia, Aug. 29.-At the con- clusion of a protracted conference with the directors of the embarrassed Real Estate Trust Company this afternoon. Receiver Earle said that in his esti- nation the receivership will be only temporary and that the bank will be able to resume business st an early day. He said it would take several days before he will be able to make t definite statement He spoke op-
 ically and said he did not think lure would prove to be as bad as 1t at first looked.
 Regarding the condition of trusts in the custody of the company. Mir. Earle said: While I have not had an opportunity to examine the books. I have every reason to believe that all trust funds are intact"
 Thus far there has been no hint that securities deposited as collateral for loans were tempered with or that trust funds were misapplied. The hopeful view of MT. Earle is shared by financial interests generally.
 It was reported that an effcrt was being made to help out the bank with the view to reopening 1t within forty eight hours. but 1t was denied by the heads of larger banks. Some direc- tors, however, have not abandoned nope OI dCCbHlDllsniHk llAS OpJCCt ohSA have been using their personal influ- ence with the object of raising the required $3,500,000 to meet a similar amount subscribed by the clearing house association and thus make up the deficiency of $700O,000 in the bank s funds One pI~minent banker sub- scribed $500, 900 today and others are willing to advance large sums.
 JoJhn H. Converse, one of the heads of the Presbyterian church and di- rector of the failed company, IS con- fident the church funds and invest ments are intact. Mir. Nipple was treasurer and custodian of these funds.
 The banks failure continues to be the sensation of the hour and is the general topic of discussion everywhere 4 large out orderly crowd surrounds the building. and except for an occa- sionaI outbreak from some excited in- dividual, is easiiE kept in check by the police.
 Receiver Earle this afternoon ap- peared in court and qualified as re- ceiver lie filed bond of $1,OoO,OOO and went to the company's offices, where he took charge and called the directors into conference.
 Inquiry today among prominent au- thorities of the Presbyterian Church and directors of the Real Estate Trust Company as to the amount of church money involved in the failure showed that the sum will be small.
 John H. Converse. Chairman of the Trustees of the General Assembly and T stockholder in the Real Estate Trust Company, said today that trustees had on deposit in the Trust Company about s4, 900 which is involved in the failure. The remainder of the trustees money amounting to $96S.S69, Is invested in mortgages, bonds and other securities. An examination of these securities as late as last Sunday showed that they are all intact.
 On this point MT. Converse said: "The way the matter stands now only about $4,0OO of the General As sembly's funds are involved and will | have to take the same chance as the money of other deposftors. I feel sure | that none of the securities of the Gen. eral Assembly have been tempered with They are all in the name of the Trustees of the General Assembly, of which MT Nipple was treasurer and | not a member.
 Two of the three boards in this city used the Real Estate Trust Company as a depositary. They are the Board of Ministerial Relief which had $4S,0OO on deposit when the company closed | its doors and the Board of Publication
 At the Off1CeS or the oOdIu oI MIA- | isteriaI Relief 1t was announced to- day that the benefciaries of the Board would not lose a cent nor would theil payments be delayed a day. The Wo- mems Foreign Missionary Society has an account of several thousand dollars with the Trust Company. The will oi | the late President. Frank K. Nipple was filed today. The document wat executed July 1, 1906. and is brief, be- ing in MT. Nipples Handwriting Il l reads:
 q. Frank K Nipple. do hereby give beuueath and devise aIl my estate. real personal and mixed, unto my son | Frank Wharton Nipple. his heirs and assigns, knowing that he will give | one-half thereof unto his Aunt Sallie if she be living, and heSeby appoint l my son to be eXecutor of this will"
 The son had a rough experience to- | day when he emerged from the bank building. A man in the crowd saw hin | and shouted:
 "'There goes the son of the rogue who said he had no faith in men who smoke cigars and chew tobacco" I'm 1 mediately mob took up the cry and 1 made a rush for young Nipple. Fol a few moments 1t looked as though he would be roughly handled, but the po- 1 lice succeeded in beating the mob back and rescuing the frightened man from its wrath. He was hustled into a car l riage and taken away.