New-York tribune., 1906-09-10
TO RESTORE SHORTAGE.
Wrecked Trust Company Directors
10 Pau Losses in Full.

Philadelphia. SEPT s.-Au the directors Of the
Real Estate Trust Company. which was wrecked
hy its suicide president. Frank X Nipple princi-
pally through heavy loans made 20 Adolf Segal. a
promoter almSy collateral. have agreed 10 the
proposed plan by AZ Earle. the receiver. reor-
eanizins the company. To-day Mr. Earle resolved
a telegram from DR.. s. Weir Mitchell tire only
member OF the board OF directors who is away
ffom the city. agreeing 20 the proposition that
TIE directors contribute the amount deemed
say b. the receiver. Dr. Mitchell expresses his
willingness 10 bear LIS portion OF the burden The
other directors had previously assented to the
plan.
Mr. Earle spent to-day at mis- home in Bryn
Mhwr working the details of his proposition
which he hopes 20 DC able 10 present 20 the direc
tors tomorrow. He also expects call gem
eral meeting Of stockholders and depositors 10
thoroughly aoquaint them with his purpose
IT is slow work" he said. hut I hope 10 have
IL In shape tomorrow. I am not in a position at
present 20 say anything more definite than has
already been published concerning my proposition.
but ] wish IL understood that the directors. I'm
signing the agreement. have pledged themselves
10 raise the amount which ] consider necessary
This money Is given absolutely, without promise
OF return security. They are putting UP the
money from their own pockets 10 make up the
losses which have been sustained through The bad
Segai loans"
The loans made 10 SeEal by President Nipple ag
Eresate more than S.o0eo. and his securities are
believed 90 be worth about s. ooOOO Consequently
the directors viii subscribe something more than
sS.onoSo It stated that some Of the Segal Sc
curtiss which considered 81 little value would
be given the directors for the money advanced by
them. Nj. Earle denied this.
Mr.. Earle was emphatic IN his denial Of the pub
nshec statements that ne had suggested certain
men for the Office of president Of the reOrganized
company.
7 have never suggested any one he declared
That IS neither my province nor business Every
man who has force enough to he president must
have some enemies and II his name is connected
With The plan Il would invite their hostility The
matter"
a statement issued tonight by the Rev Dr
the Presbyterian Church, announces that. in
clifton 10 the $4,000 Of trust funds Of the trustees
posts amounting 10 about SSo000 also involved
those deposits were the current funds Of the board
OF ministerial relief, the trustees Of the board OF
publication and Sabbath school work. the trustees
OF the General Assembly. the stated clerk of the
General Assembly and the Womsn's Foreign Mis-
sionary Society.
trfct Attorney Ball and Receiver Earle has been
found among the papers of the wrecked Real
Estate Trust Company IL is for S77.Go. and bears
the signature OF Joseph A Baker. who has been
dead three years. The loan h secured by sl20.00
.n first preferred per cent bonds Of the champion
Iron ana Separator Company, one OF Adolf Segals
many enterprises.
Baker whose name Is signed 10 the note was
tn the real estate business AT the same time that
two were close friends. The District Attorneys
1nvestigaton Of the note up 20 the present time
has resulted IN nothing tangible. Members Of
BAKERS FAMILY profeSsed entire Ignorance regard
ing IL, saying they were unaware that he had ever
given President Hipple his FOR any amount
In fact they did not believe Baker was ACQUAINTED
notes Tor large amounts secured by worthless col
lateral and signed apparently by fictitious persons
the fear that this may be another evidence OF
hippies wildcat nnanciering.