Daily press. [volume] (Newport News, Va.) 1896-current, 1906-08-31
CORONER KING CONFIRMS SUICIDE
Suppressed Facts to Prevent Run on
company-Dcad President Embcz-
zled More Than Five Millions-su.
gar Refinery is Profitable and In
vestors May Get Money.
(By Associated Prcss.)

PHILADELPHIA, PA, Aug. Be-
Examination of the list of securities
held by the defunct Real Estate Trust
Company today developed the fact
that Frank *. Nipple. president Of
the institution, who committed sui
eide, was an embczzler. The author
ity for this statement is George Fl.
Earle, Jr., receiver for the trust COM
pany.
Mr.. Earle declined to say what Sc
curlties are missing, but he declared
that Nipple had hypothecatcd SG5,O0t
worth of the paper, securing $4,000
for the securities. which he never re-
turned. Receiver Earle further de-
clarcd that President Nipple embcz-
zlcd the $5,000,OO0 he loaned to Adolf
Segal, the promoter. These loans,
Mr.. Earle asserted were personal
transactions. Although he made them
in the name of the bank. the directors
had no knowledge of them, conse-
quentiy the money was stolen by
'tf1lppfs snidrasl&r.sr Earle ,s.a,.--.---
School For Ladies'.
Another enterprise In which the
dead president was financially inter-
ested was discovered today when it
became known that he was one of the
incorporators of Miss Wrights select
school for ladies ut Bryn Mawr, the
i,l, "A L.;
mer residence.
The other incorporators were his
son, r. Wharton Nipple and Miss
Wright. The latter. years ago. be-
gan teaching school at Bryn Mawr.
She made the acquaintance of Mr..
Nipples daughter. now dead. and Mr..
Nipple displayed friendly interest
in her. Last year Miss Wright pur
chased Il large stone building at
Bryn Mawr at cost, it is said, of
100000, and established her select
school.
Miss Wright said today that Mr..
Nipple visited the institution three
times n week. His last visit. accord.
ing to Miss Wright, was made on
Thursday afternoon of last week, the
day before he shot and killed him
self.
May Get Back Money.
In an interview today Receiver
Earle reiterated his opposition to a
permanent receivership for the trust
company.
This proceeding, he declared, would
deprive the concern of its trust funds,
which are among It's most valuable as
sets. IL all of Promoter Scgal's enter
prises are as valuable as his sugar re-.
finery, he said. their operation by
the depositors would be more fruitful
of results than any other method and
he believed through such plan the
depositors would receive dollar for
dollar.
Suicide Confirmed.
The suspicion entertained that
Frank X. Nipple, president of the
embarrassed Real Estate Trust Com
pany, who was found dead at his home
in Bryn Mawr. Pa. last Friday. COM
mitted suicide. was confirmed today
by Joseph N. King. coroner of Mont
gomery county. When he made the
announcement DR.. Albert II. Read,
the coroner's physician was standing
near and he added:
You can say that Mr.. Nipple blew
out his brains"
Since the death of Mr.. Nipple the
family physician and the coroner had
maintained that he died of cerebral
hemorrhage while taking bath The
coroner today said:
when went to Bryn Mawr Friday
morning to investigate the sudden
death of Mr.. Nipple. | found that he
was president of trust company and
when | discovered that he had COM