New-York tribune., 1906-09-06
SEGAL UNDER ARREST.
NIPPLE LEFT CONFESSION
Tao officials of Wrecked Trust
Company Charged scith Fraud.

Philadelphia. Sept 5.-Charged with bav,,,
defrauded the depositors Of the Real Fstata
Trust Company. Of this city out OF many mil
lions Of dollars. Adolph Segal a nror,o,a- =,
many enterprises; William F. North tho ,raa.-
uitr OF the trust company. and Marshall 6
'olIhswood' the assistant treasurer. were ar
Tes'ed To-day. at the instance Of District Attor-
ney Bell who has spent nearly a week IN in
Vestigating the affairs Of the wrecked institu-
tion.
Segsl was held in s25 .OOO hail and the two
trust company officers In $4,000 each. They en-
tered bonds and will he given a hearing to-mor
row.
Aside from the arrests the most important de-
velopments to-day i'm the affairs Of the trust
company WAS the announcement bv District At
torney Bell that President Nipple before ending
his life had written brief confession Of his
misdeeds.
on the day President Nipple shot himself his
son. r Warton Nipple. found a note in his faith
er room. Mr.. Earle, the receiver and District
Attorney Bell came into possession OF this note
to-day IL was written in ink on the back of an
envelope. II bore address and was as fol-
lows:
Segal got all the money. I was fooled. but
have no one to blame but myself"
According 10 Mr. Bell the note implicated no
others Nipples was to-day subpenaed to
appear al the hearing tomorrow Of Segal North
and Collingwood
Ihe District Attorney remained the Real
Estate Trust Building until 10 o'clock tonight
with two assistants. arranging his evidence for
the preliminary hearing Of the accused men.
L am following accumulation OF evidence
that indicates a wide circle OF graft in this fail
ure" said Mr.. Bell. "and am learning something
new every hour"
The affidavits accompanying the warrants
were sworn To by Walter &. Browning. a de-
postor and creditor Of the Real Estate Trust
Company. They aver that ScgaI. North and Col
ngwOod. With Frank X. Nipple. the presi-
dent OF the company. VINO committed suicide.
and with other unknown persons defrauded the
trust company "out Of many millions Of dol
lars" and that they fraudulently applied the
money 10 their own Use.
1t is further charged that Segal was an abet-
tor TO the embezzlement of the many millions
~ dollars. and that North committed perjury
n knowingly having furnished Ia the Commits
sioner Of Banking Of Pennsylvania false re-
ports - the value OF the company's assets, re-
sources and liabilities. Coilingwood and North
are also accused Of having received money from
depositors after they knew the company was
insoiveut
The three men knew they were 20 he arrested,
and early in the day they sought their bonds
men. After me warrants were ISSUED Nie us
trict Attorney informed the attorneys for the
accused men. and they waived formal service Of
the warrants. At noon the three men with their
bondsmen appeared at the migiEtrste's office
and entered bail.
No other arrests are expected AZ this time,
and the divers other persons" mentioned i'm the
warrants was inserted for tho purpose Of COW
ering any other persons who might hereafter be
found 10 have been implicated i'm the collapse Of
the trust company
Adolph Segal. who is looked upon the prn
cipal In the failure Of the institution. had moth
ing To say after mis- arrest. He contented him.
self hy referring Ali persons to his attorneys.
II was AZ first believed that Nipple did not
benefit by his dealings with SegaL but later
developments showed that he was deep I'm the
schemes of Segal and a partner I'm some of his
companies
How much North and CollinCwcod benefited
I'm the transactions Of Nipple and Segal. if AZ
all has not been determined.