Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-06
BELL WILL SPARE NO ONE
Prosecuting Officer Declares That All
Offenders Must Suffer.
TWO ATTORNEYS NOW INVOLVED
Facts Are Being Almost Hourly
Brought to Light in the Startling
Case-Hearing Today.

says that no efforts Will De spared
to jug Realty Trust culprits. AS
the pages unfold in the Quaker
city scandal methods of frenzied
and corrupt finance almost incom-
prehensible are revealed. Two di-
rectors who are members of the bar
are now said to have .mulcted the
depositors to the tune of $4,000.
Mr.. Bell says that Nipple was
not content with stealing bond
once. He did it over and over
again. Papers and notes were
found. in a riotous mass of confu-
sion.
PHILADELPHIA, September 6.-Rumors
of arrests of directors of the looted Real
Estate Trust Company fill the air today.
District Attorney Bell declares in most en-
phatic terms that no man will be spared in
the effort to bring to justice those respon-
sible for the dissipation of the depositors'
money. The statement is made that two
directors, who are also members of the bar,
have profited to the extent of $3.50, 600 in the
past three years by accepting fees from
Adolph Segal for passing on security ten
dered by him for loans from the bank ag-
gregatfnE $500 Goo. So far as is known,
warrants have not yet been issued for these
men, but the public is awaiting with breath
less interest sensational arrests of directors
who stood high In the community before
the crash and exposure came.
Nipples Plaintive Cry. -
President Nipples plaintive cry from his
grave, "Segal got; aH.' has aroused the de-
positors to high pitch of indignation.
Lawyers representing many hundreds of
them are taking active part in the inves-
tigation of the affairs of the trust company
and facts coming to light almost hourly
revealing new forms of duplicity the part
of the men intrusted with the depositors'
! money and the trust funds of large and
small estates. Investigation shows that the
looting of the trust company will cost the
Presbyterians less than 100000, and the
leaders of that faith are congratulating
themselves that President Nipple chose an
opportune time for committing suicide
far the church is concerned the funds
and deposits being low at this time of the
year.
Stole Over and Over.
Receiver Earle expresses the opinion that
President Nipple was money mad" and
that there seemed to be no end to the va
rety of methods by which he juggled with
securities which fell into his hands, and
concerning which he sought to deceive the
directors. He was not content with steal
ing the same bond or stock certificate
once" said Mr.. Earle. but did 1t several
times over"
"He would, for instance, receive a bond
or certificate collateral for loan, the
a
if Mr.. Segal came along asking for a loan
and presenting insufficient security, Mr..
Nipple would take the good security de-
posted with a note of another man and
place it with Segals note.
'In this manner the directors were
brought to believe that the fund security
was collateral for the loan to Segal. This
sort of operation was repeated by Mr.. Hip
pie as often as Mr.. Segars demands seemed
to render it necessary"
Papers in Great Confusion.
Mr. Earle said that the practices of Hip
pie had left the notes and papers relating
to loans in almost inconceivable confusion
1t was established yesterday that the SUBJ
stitution of bogus bonds for good bonds
among the trust securities of the Presby-
terian general assembly board was accom-
plished by Mr.. Nipple through a species of
seight- of hand. He went to the box in the
vault containing the trust securities in
question on the pretext of cutting coupons
in order to pass them and place the pro-
ceeds to the credit of the board. After the
box was opened Nipple informed the clerk
that somebody at the door wanted to see
him for moment. The clerk unsuspecting-
ly left Nipple alone for this brief interval
The time was sufficient to enable him to
substitute two bogus bonds for two genuine
bonds. which he afterward hypothecated
for the benefit OF himself or Segal.