Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-08-29
A 100000 FAILURE.
Continued from Page One.)

The application for the receiver says
the company has a paid up capital OF
Sl.3o,0Oo an apparent surplus of IN equal
amount and deposits of about $40 O01. 0D0
The assets consist of real estate in Phil
adelphia, loans upon collateral upon de-
nand and on tine and other securities.
President Nipple, the application says,
by false reports to the directors Of the
loans made by him brought about the
condition Of the company, which was first
discovered by the officers Of the bank
subsequent to the death of the president.
The court then appointed Mr.. Earle re-
ceivcr and he entered securities to the
amount of S00o,W0 After his appoint
mert Mr.. Earle held a lengthy confer
cnce with the directors and officers of the
company at which the receiver was put
in possession of the conditions of the
company SO far as the officials of the
concern could inform HIM. At !hc close
of the conference Mr.. Earle made tho
following statement:
'Whlst | appreciate the danger Of MAX
ing statements until / have made thor
oEgh examination, I think it my duty to
state that IN my effort to keep this in
sttution open can effort made for public
reasons, as | had no private interests
th'rtlh)' nave necessarily asrertamcd 4
great otal concerning us cohdti"hS- inns
knowledge brought me to the conclusion
th'tt the cohranE Shouid NOT De permit
ted to IAN ana that conclusion stu is SO
a'io"S WIN i'ie 'i'''' pelioN' "itiou''
it may tie against my own interests. that
, the rcceiVcrShip should not he continued
,.I,,,o4,, 80 +i,,o - ,,,,,o tI,a, go,
| ..,,,, ,.o,;.,. ,..a,.,i,,. ,,ol;of.
| ,, ,,.,o,,,,,,,,,,, = ,,ox J., ~, ,,,,,o..i+,,-
| .,,+ iii 49,, ,.o,.,,, .hoi, i+a,o.t. H.,
| s..,.-+. ,,,.. ..,,.,.t-,,,,.
lit ,1,,,st r+ \, .or.,a+.,,, MA ,,,a.r
! , rooeoroh1o Ma, ~ ,,hicl, tbo,. viii Ill
,,,ir,. III tbo r,tn. tnn,. yin rncc;,,, much
- ,,,, ,,,.. ,.,,,J;....,, III, al,.,;., ~,
-,''' t''''' ""'
'i'i"' l"i ''rH ''h ny 'i'''' ii','i'"" ~
serve ihclr very large anu NaIudple ue-
posts which would be otherwise lost In
my Judgment a premiership Is always
! til" most costly and tardy method of ad-
ministcring corporation affairs, and
! trust tiat may DC "oie - t'Ne 1t
Pialh lildt ''lci' ~ 1t ii"Pol" VI Hi''iiou 'i'''
/ VIII be less expensive ana capaple OF
| yinIdlnT h:Shtr results
! Il ask' however th't uhti can PC per
fectlY sure OF me WISDOM 81 what rec
| omm'ho, me dcapoSi'orS VIII ny pc Us
couraged or ANXIOUS ABOUT 'llc o'poS4tS'
| iit Noii'ptS
th"t are c,i'tl'' an" ,''ii'Nc 'Ii'' exam
r iori,.ol era,,, ~, cs.c.,, tbat ,ro not
aa,tb;,, >.
| 80 go, .,,,;,r,,. ,,,o,,, .1,,, .,.,,o,,.i,,.
| ''''lc'ii'l''
! My DuNlil'SS Ich'tloi'n Will MI it'PpI'
We're only those OF Il borrower. ne loans
o. money made by the trust Company |"
| me were all maze on coilittrdl IN the
usual course OF business. cannot teii
the exact amount OF Indebtedness ana
that companies With winch am asso-
ci'>tcd, but It IS surely nor over nan ""
amount stated IN me newspapers. thiIli>
1t IS about E5.?oo'"'
- a,,torr,.is,..
| IaI,a, 49,. .ta,o or
,,.l ,.,t, liz, , cant commits
- ,,, -. ,,,,,., %
SIN VI -7"N' ''i'i'
STOCK OF remuneration VI any A'''' "" i''''-
ever
'il '''i ~ ''',' ' ,,a,,.i ac ti,o ,rr,,.r
l,''''' .,,.. III, t1aa ,,a,1,.
:" ''l''.'" = .''''' - '.,' ..il
WHY ""N''o" ,..
d"ul'"r ~ d'''''''' - ~
q th' o"l"pi"E '''i' ~
am1ner'
| Wy c'iI'''l"' '"'''''. y =,
caSh lmfh'datflE' !'t pN luui' i'"S "'.i,'
ling | am convinced that N 4 r'"S"l'''oil
tim" its full value VIII d" rc'ilH'i'
| IN" career oil AEON 'o'E"i II ""' vi TIC
most m"te"rl' OF local hii'''c.''S' ne ''''
from th' secIuSIoh ~ " 1t 'o>''''
lie [" prominence anu d va ''', ~
or. '"ir'hE mere ii'', >0( ~ LIT 80 ,''',
~ Nc'rS '3" We l",''.u ~ ", ," ~
ara 'll'l'o III, ,,,,'.,,
manufacturers nuS''''17 lii,
''it , .,,i+ ,,.i,,,r 4
iii" iii f1ir 5c,Iin,,
. ...,,.. VIII ,.,..,IIigIr,c,,,
lit ~ ,.. ,.,e,,o.,. II, ~, DoI,.
n " ~ ,,.; !,
ware rNci i'"''' - -,
S"'u AZ i"t - 11;.,e =. 49,
9":'r f'''i'ii1 ~ - .,;l .,,,, ST..
!" !',c ,,,.a ,,r,G,l,, a. tbo oxto,,,
| Nv - ,''' :. ''''' * ,,.,,, -. Co..
W Sr"''''. ~ S"' ,.,,. -.
Tory III ,"i"''i "i'-N "''' Wv
by me l'''i'"''" MAJ W.