Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-29


copper iinshings abound throughout
II cost as much as the Majestic hotel
ana has been idle since It's erection
TWO or three years ago. Segal has been
The promoter Of several enterprises iu
the state outside OF Philadelphia. II Is
said that the Real Estate Trust COM
pany has been involved IN an Of them
to some extent.
BUILDING ENTERPRISES.
One OF these big enterprises vas a
building operation AT Altoona. Pa. Sc
ssl secured a large plot Of ground and
planned the town Of South Altoona, Pa
II was planned 10 build $50 houses
built in rows, city style. People ala
not take kindly TO this method Of liy-
ing. Few Of the completed dwellings
were sold and few rented. Most of
them are idle today. Segal IL iG years
Old. about I'VE feet ten inches i'm height.
Directness and frankness Of manner. a
hablt OF going directly 10 the point of a
proposition he had to present to q man
are said TO have been the means Of his
success. He has made many friends
ana mas spent money layshly.
mn II FIX EARLE.
George f. Earle. Jr.. who has been
appointed temporary receiver of the
hte7l Estate Trust company. tx one OF
the hest known figures in the financial
world. and has had experience m
Strengthening ont the tangled affairs II
number of financial wrecks He Is
president Of the Pennsylvania War
housing & Safe Deposit coopauy. the
FINANCE company Of PENNSYLVANIA.
Market Street National hank and
Tradesmens National bank
BANKS PREPARED.
Every banking house In Philadelphia
was prepared today to meet any de-
mand made upon il. Although no iu-
stliution other than the suspended conf
Iahy required assistance. offers VI aid
were reconyeyed from bank to bank bv
me large concerns. outside the city ana
large sums OF money arrived here to-.
day.
CROWD OF DEPOSlTORS.
A crowd Of depositors gathered carly
~ the corner ~ BROAD and Chestnut
Sue'tS' surrounding the handsome sky
sciaper in which the distressed concern
is located. 4 squad. of policemen sur
rounded the offices and kept The people
BACK. There was no attempt at "A dem
onstation.
YOUNG NIPPLE.
\ distressing feature Of the discIos.
uIes regarding President Hipple was
me crushing blow that fcll upon Y.
wharton liipple. son of the dead man.
Young Nipple is employed as a clerk
by The Real Estate Trust company. and
an day Yesterday. while umors were
hying. all rejecting upon his fathers
name. he stuck manfully 10 his desk.
lhe local stock market showed some
recovery az me opening today from tho
drop which followed the announcement
Of the hanks failure yesterday.
CONFERENCE OF DIRECTORS.
At the conclusion Of protracted
conference with The directors Of the
embarrassed Real Estate Trust com.
pany, Receiver Earle said that I'm his
estimation the receiyership will be only
temporary and that the bank will be
able TO resume business al an early
day. lie said 1t would take several
DAYS before he would be able tc make
q definite statement
Regarding the condition Of trusts in
the custody Of the company Mr. Earle
said.
While ] have not had an opportuu-
lty 10 examine the books. / have every
reason 10 believe that all trust funds
are intact"
The hopeful view Of Mr. Earle Is
shared by financial interests generally.
II Was reported that an effort was
being made TO help out the bank with
the view 20 reOpening 1t within IS
hours but IL was denied by the heads
OF me larger banks some directors.
however have not abandoned hope OF
accomplishing this object and have
been using their personal influence
with the object OF raising the required
$S.50OO0O 20 meet similar amount
subscribed by the Clearing House as
ISOLATION Yesterday. and thus make up
the deficiency OF $1,000 600 I'm the banks
funds. one prominent bank subscrih-
ed S50000O today and others are will
ing 70 advance large sums
John H. Converse. one OF the heads
Of the Presbyterian church. and Il di-
rector Of the failed company. is conf
dent the church funds and investments
are intact Mr. Nipple was treasurer
and custodian OF these funds
The banks failure continues 10 be
the sensation Of the hour 4 large
but orderly crowd surrounds the build
ing. ana except for an occasional out
break from some excited individual. Is
easily kept in check 10y The police.
Receiver Earle this afternoon appear
ed IN court and qualified as receiver
He filed a bond OF 81 .00O. 600 and inn
mediately wen. TO the companys Office
where he took charge and called the
directors into conference.
PRESBYTERIAN FUNDS.
Inquiry today among prominent au-
thor,les OF the Presbyterian church
az TO TIE amount Of church money I'M
yolyed On the failure show that the
sum viii not exceed $4,000 Trustees
money amounting 90 $685.. 500 Is in
vested be mortgages bonds and other
securities aud an examination Of these
show that they are an intact.
John "A. Converse. chairman Of the
trustees Of the general assembly. and
stockholder IN the trust company.
said. This $4,000. ii must be under
stood is not d total loss ! firmly be-
Heye the deposiiors will receive most
OF their money back
Al the Offices OF the board Of min
isterial relief IL was announced that
the benencsries Of the board would
not lose a cent nor would their pay
meuts be delayed day There are
ample funds ON hand to meet al de-
mauds
The Womans foreign missionary So
ciety has am account OF several thou
sand dollars with the trust company.
+ NIPPLES WILL FILED
The viii OF the lge President Frank
X. Nipple was nlcf today Tho docu-
ment was executed July !. 1906. and
Is brief
Il Frank X. Nipple DO hereby give.
bequeath devise half my estate. real.
personal ara mixed unto my son.
Frank Wharton HippIe his heirs aud
a.aH..