The Montgomery advertiser., 1906-08-31
RUINEDBANKER TOOK OWN LIFE Nipple Blew Out His
 Brains. sUsPIcIoNs ARE CONFIRMED
Coroner Who Investigated Case
 Withheld the Fact.
Claimed That Report of Suicide at That Time Would Have Caused Disastrous Run on the
 Institution.

Philadelphia, Aug. 30.-The suspi- cion entertained that Frank K. Nipple, President of the embarrassed Real Es- tate Trust Company. who was found dead at his home in Bryn Mawr. Pa. last Friday committed suicide, was confirmed today by Coroner King of Montgomery County When he made the announcement Dr. Albert H. Read the coroner's physician. was standing near and he added.
 You can say that Mir. Nipple blew out his brains."
 Since the death of Mir. Nipple the family physician and the coroner main- tained that he died of cerebral hem orrhage. while taking a bath. The coroner today said:
 When I went to Bryn Mawr Friday morning to investigate the sudden death of Mir Nipple, I found that he was the president of a trust company and when discovered he had commit ted suicide I decided to suppress the fact for few days in order to prevent run on the trust company. thought Mir. Nipples transactions, the directors would have chance to make up what ever defects there were.
 Did any of the directors of the bank or members of the family request that the facts of the suicide be suppressed?' NO, SIT, they Q1us uOt. Any dCLlOn taken by me was voluntary"
 Several men prominent in legal af- fairs told me today that I did right tn suppressing the facts until the di- rectors of the bank had a chance to make an investigation"
 The coroner also stated that when he arrived at the Nipple residence last Friday he was met by the son of the deceased. The young man did not at first say that his father had commit led suicide It did not take the coro- aer long to discover the cause of death. Nipple had placed the muzzle of a 3S- ealibre revolver in his mouth and shot himself The ball passed upward and lodged in the brain
 The shooting took place in the bath room The suicide arose shortly before o'clock and Mrs. Hipple was of the E os,tn sSlHs eAhat ts1aal naasbaIEd wasc taking bath When he did not return to his room inside of half an hour Mrs. Nipple became alarmed and made an investigation. She found her husband lying on the floor in the bath room. Mrs. Nipple was not aware that her husband had killed himself until the arrival of the family physician.
 Receiver Earle said that the plan for the reorganization of the Real Estate Trust Company was to ask the credl- tors to take preferred stock In the Trust Company for their claims and appoint their own officers in the com pany. This he felt assured would give the creditors their only chance to get back their money dollar for dollar.
 This plan has not been perfected In details as 1t will take some little time to get the matter in shape to present to the creditors in it's proper form.
 MT Earle said also that under re- ceivership it had been proved time and time again that the business of a faii- ed concern would not yield nearly the results that could be obtained if the business was managed by the partieS directly in interest.
 He said if the creditors did take hold he was sanguine of results and that the creditors had no cause for discourage ment if they refrained from sacrificing their claims and came to the rescue ot the trust company, doing for it what the banks and trust companies failed to do at the clearing house meeting,
 Mir. Earle added he had just discov- cred that a large asset of the trust company. which it was supposed was not very good really was backed by names perfectly good and which could be realized on. This asset is said to be $250,000 in value.
 Now that Receiver Earle has taken charge sof the Real Estate Trust Com pany of this city which closed its doors last Tuesday because of the shortage of about $7.000,000 1t is expected that many matters in the affairs of the company that are not clear at this time will soon be explained.
 MT. Earle has placed stan of his own clerks under the direction of the receiver and they will be able to in a few days give the depositors an Idea of what they may expect in the way Of dividends.
 Among the first things to be done will be the opening of the strong box Al TaN N~9 Vw.. r HinpIe. the President of the Trust Company. No one, not even his fam JIv it is said, knows what 1t contains, but if fs hoped by the receiver that it's contents will be such as to be of come aid to the receiver in straight aoing out the affairs of the company. vyhether Mir. Nipple carried life insu raoce is not known to the directors of tha comnany and all information on tbe subject was refused by tho fam ilv.
 rrba receiver communicated to many enxious persons that on a hurried tx- aninatIon of books and papers he feels quite certain that all securities and trust funds not belonging directly to tLa t-,,st company itself are intact.
 T,ha company had charge of trust I,nds and estates valued at more than eos mo 900 and the beneficiaries of many of these have been clamorinE ever aince the company closed Its Soors Tor nositive information as to % tbe security of these trusts. Most of them now feel assured that, that President President t TJinnle did not tamper with anything ntbar than the money belonging to the company,
 trustees of the general assembly or the Presbyterian Church and director in the Real Estate Trust Company. statement yesterday to the effect that tbe money of the church. amounting to one million dollars, are safe.
 There Is much talk among certain eranciers and others of the possibili- ty of the rehabilitation of the company but no feasible plan has come to light. Receiver Earle says he Is working on A plan, which. if 1t can be put through. will bring a quick return to & the cred itors of the institution. what ms nIan is he will not divulge.
 It Is thought. however that his plan would be to operate the numerous sntsrnrises promoted by Adolph seGaL