The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-08-30
HOPE TOSAVE PHlLA.1 TRUST co.
Continued from Fret Pdos. ~

interesting. Depositors who have con-
! suited IT, Clinton Rhoads for legal assist
ance In procuring their deposits were told
BY him that he would be at the bearing. and
would insist upon immediate recognition
.. Il il Mr.. Rhoads's opinion that the court
should appoint an auxiliary receives, repre-
senting the depositors. who shall divide the
duties with Mr.. Earle. Mr.. Rhoads may
present a petition TO the court at Thursday
Interests which 1 represent said Mr..
Rhoads, do not want to DO told That they
can get no information from the receiver
as to the condition OF the company that
holds their deposits. II the present, re-
ceiver represents the interests OF the dire6-
ing until such time as he secs fit, then the
depositors should also have a receiver who
can go In and obtain such information Tor
Mr.. Rhoads said he was much surprised
that the name OF the auditor who went
over the involved accounts Of the company
had not been divulged: He also said 1t
would be interesting to know what the re-
port OF the State bank examiners was in
relation to the nature OF the securities
given for the Segal loanso OF $500. goo; -,
Il want to know and mean to find out
said Mr.. Rhoades, "all about the auditor,
il such a person existed, who's certificates
Hipple Is alleged to have palmed on on the
directors as showing that a fictitious list
of loans was correct. An expert auditor
of good standing would hardly have e1.
the fact known in some way to the directors.
II such examination was not made, did Hip
Die forge certificates OF loans? Depositors
are entitled to know the true condition OF
affairs"
tors were in absolute ignorance Of Nipples
loans to Segai it has been learned that at q
meeting of the board two months ago one
of the directors declared that Ripple. had
assured him that he had ceased all dealings
with Segal. :,
With absolute knowledge that the Real
Estate Trust Company, would close its
doors, Judge Charles Y. Audenreid, who
appointed the receiver. had 30 high a sense
OF honor that he refused to move q finger
to save the s12 900 in his own name and an
equal amount In his sisters name deposited
in the bank.
On Tuesday morning John 81. Converse
went to Judge .Audenreid's private room
In the City Hall and told him the Real Estate
Trust Company was on the brink OF a fnan
zone last effort will be made to save the
company he said, but we believe that
it will be useless. One more effort is to
be made to induce the Clearing House to
come to our rescue, and, this failing, we
viii apply 70 you for a receiyership, naming
man to take hold of the AFFAIRS"
Il have Sl2, 0O0in the bank, said the Judge,
and my sister has ar equal amount. I
hope that you will be able TO a " the bank,
but II. YOU are unable and think that the best
way out Of the difficulty Ia through a re-
ceivership, then mako the application in
open court this afternoon and l will grant it.
HARRIsBURo, Pa, Aug. 2s.-.'With the
present force OF only fifteen bank ex-
aminers it is q physical impoesibility for
this department TO make as close an ex-
animation of the institutions under It's
control as is. desirable by the Commits
sioner," said State. Banking Commissioner
Berkey to-day when his attention was
called to the fact that the suspended Real
not been examined for about two years.
There are about 900 State banks. trust
companies and building and loan associa-
lions in Pennsylvania" Berkey said, 'to
be examined by the fifteen examiners
which the Banking Commissioner is au-
thorized by law to appoint.
"The magnitude Of the work OF examining
the fact that an examination OF one OF the
larger Of them requires the time OF thrse
examiners constantly for at least three
weeks" -
Deputy Sheriff Burns yesterday received
an attachment for ga .oo2 against property
in this city Of the Real Estate Trust Com
pany Of Philadelphia, in favor Of William
A. Read 4 Co. and Forrest q Co., as syndi-
The attachment was levied against n
property or funds the trust company has
on deposit with the Bank Of New York, It's
local correspondent. A copy Of the attach
mept was served on an of1c Of the Bank
OF New York, where IL is said the Real Estate
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