Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-12-26
BIG FEE IS DECLINED
Earle Earned 100000 and
Refuses $4,000.
THINKS AMOUNT TOO LARGE
Rehabilitated Trust Company and
Handled $1,000, 900.
WOULD TAKE MODEST SUM
But if More is Offered He Will Con-
tribute All to the Institution
Unique in Financial World.
WOULD TAKE MODEST SUM

PHILADELPHIA, December &c. A
Philadelphian has performed financial
feat without a parallel; the rehabilitation
of trust company, in the course of which
rehabilitation more than 100000 has
passed through his hands.
It is story of the saving to more than
6,OOO depositors of their entire deposits
in a concern that was generally looked
upon as a total wreck, and of a Christmas
gift which came to them yesterday.
The saved institution is the Real Estate
Trust Company. The man who saved 1t
is George H. Earle, jr., and the action Of
the man that makes this a reritable
Christmas story is his refusal to accept
in payment for his services the fee of
$4,000, which was rendered to him by the
directors of the company 80
That the receivership might be termi-
mated legally, he has agreed to the setting
aside of $4,000. with the understanding
that. If he sees fit. he may turn this
little return for his great service into
the treasury Of the company. He would
have preferred to. decline outright even
this formality, but he considered that such
action might create q precedent which
would embarrass other faithful receivers
who could not afford to work without
fair compensation. ..-
9SA SASCo +" Va III q 4A4444OAs
Former Judge of the Superior Court
William W. Porter, who is director Of
the Real Estate Company, declared that
a fee OF $10Oo0CO for the service which
Mr. Earle has done would not be exorba-
tant. Joseph Def. Junkin and other di-
rectors expressed the same view.
The effect Of Mr.. Earle's action is that
Of a Christmas gift of 100000. to the
OF Of fhn LNsrot
Company, and since. under the Earle
plan of rehabilitation, every one Of the
old depositors is a stockholder, it is gift
to each of more than 5000 persons
His intimatton that he will decide later
whether or not he will contribute the re-
served sum of $4,000. makes it possible
that there will be further gift to the
depositors.
Scarcely less extraordinary than the re-
fusal of Mr.. Earle to accept large fee In
compliment which was formally paid to
him by Judge Craig Biddle. This compl-
ment, unlike any other of its kind. is re-
corded in the formal decree of the court.
1t thus becomes a permanent record of
this story of one mans unselfish endeavor
for the good of the community.
rendered and Declined.
The story of the refusal begins properly
with the tender of the s15O,OOo fee by the
board of directors to Mr.. Earle. To this
offer he sent the following reply:
December 81, 1906
John G. Johnson. Esq; Mr.. William w.
Porter and Joseph De F. Junkin, Esq.
"Gentlemen: Prompted as you know
was, largely by desire to render personal
service in the Real Estate Trust Company,
the question of compensation has always
been an embarrassing one to me. To take
nothing for such service creates hard
precedent for faithful officials who cannot
afford to work without compensation: and
yet, where everybody has acted SO hand
somefy, l have wanted to feel that in part,
at least, l was a contributor.
1.-THE suggestion made me by counsel and
members of the board that, in view of the
results obtained and the large responsible
tiles and amount involved 1 should accept
$150,O0O is generous and perhaps just but
not acceptable to me for the reasons given.
But even should my final decision be
that 1 would accept compensation. 1 have
absolutely determined that, under no cir
cumstances, should I accept cent above
$50, 600 and not that unless the court feels
that 1t has been more than earned. Should
the judges approve a larger sum, there
fore would be obliged if you would inform
Them both of my grateful appreciation and
to the sum mentioned, as another course
would make it necessary for me to imme-
diately contribute the excess to the COM
pany itself.
Counsel advise me that all interests re-
uuire termination of this receivership,
and l therefore consent that this matter be
now decided, as I can reserve my decision
whole sum or not, a matter upon which +
wish entire freedom of action. 1 remain,
Your obedient servant,
GEORGE H. EARLE, Jr