The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-09-06
ARRESTS IN TRUST co. CRASH.
ma VOTER SEGIL AND TWO OFF,
Gals UNDER HEAVI BONDS.
Conspiracy. EmbeIIIemrn Forgery N Per-
fur, Among q Charges DIstrIct Attorney
Now Amer NEUTRALITY-SUSPICIOUS.
Loss 1 q ,OOO-S3SO.O 600 RstAte Gone.


PHILADELPHIA. Sept Son warrants
charging conspiracy, ENLIGHTENMENT and
perinry. Adolph Segal. the Austrian pro-
uotsr. who with the late President Nipple
and q coterie Of directors, ii II charged,
wrecked the Real Estate Trust Company:
William T. North. treasurer Of the company,
who. il il alleged, was party to most OF
Uiop,e's Illegal Gets, and William ]. Col
haywood. assistant treasurer, we're placed
under arrest to-day by Dist riot Attorney
Pell
Sesal, who has aged Ave years in two weeks
and vithalhis old iauntiness tone. was held
in $1,000 hail. The charges against him are
conspiracy and accessory to embezzlement.
North and Collingwood we're held in &c.,
ono hail each on charges Of conspiracy.
enlightenment, perjury, &C.
Morris Rosenbarm. a steamship agent.
became Scgal's surety; M. j. McCahan.
the sugar r%einer, ven on Collilgwood's
h md. and william II. Shelmerdine. a broker.
-stancs good for North.
ssCaI's arrest which balteH plan OF reor-
sanitation " hich Receiver Earle had nearly
comrleted, wnsthe result Of reports that tho
Austrian had been for some time shipping
cold out Of the country and that he had
closed I'D his affairs and was ready TO 20
abroad. 1t was the crash OF the trust
company it is said, that prevented SeEal
from departing. He has been under police
surveillance since the day Of the failure.
The District Attorney looked up the report
and found enough to justify him in taking
quick action.
Tho plan Of reorganization thus nipped
provided for the turning over by Segal
20 Earle Of all his fairly good operations.
the raising by the directors Of %. 500, 900
and the taking out by depositors Of 81 600 900
Of preferred stock instead OF their
deposits.
The depositOrs had agreed, as had the
directors also, and yesterday afternoon
Seeal turned the ShaokamaxOn refinery
over TO the receiver and Expressed wiling
ness to give up much more. Now he regrets
handing over the refinery and what he has
he'll hold as long as he car 80 Mr.. Earle,
the depositors and directors will have to
find a new plan for reorganization.
The affidavit upon which the arrests
were made was sworn out by Dr. Walter
c. Brewing, the man who treated Senator
Chris MaRee. boss Of Pittsburk, and charged
hs estate tl30, 900. He was = depositor in
the bank.
Evidence Of actual partnership between
Nipple, Segal and a clique Of directors In
the wrecked company has been found by
the District Attorney.
These men sank millions In their wildcat
ventures and the great part u the millions.
It has been discovered by the District At
torney, vent into suburban trolley schemes
in which they were Interested a. promoters
or stockholders. Among thsss companies
il the Camden Interstate, which has q
lumber Of lines in course OF construction
In West Virginia, Ohio and Kentucky.
In another company Treasurer North was
president and W directors were interested.
Another damaging piece Of evidence
Tzr inst the directors that came out to-day
was that all Of them knew about every
Eegal transaction. or they were criminaly
negligent. Receiver Earle said that all the
securities that he had found were o cred
ty mortga ges upon Seeal's enterprises.
These mortgages said the receiver. were
recorded in the courts. furthermore. the
making OF all these mortgages was printed
In the newspapers.
1 will not stop at the directors II Crtmi-
nality is shown . said Mr.. Bell to-day. He
declared that all his efforts are now being
directed toward discovering II they have
committed crimes. Mr.. Bell also announced
tonight that among the papers Of h COM
pany be had found q confession by Nipple.
In this the suicide had written reasons for
his thefts, had given records OF his deals
with Segal and had accused Segal OF driving
him to death.
'Segal got all the money was the plant
OF this confession. 1t will be produced
tomorrow when the further hearing OF the
THO arrested to-day will be held.
As for the speculations OF Nipple himself
revelations already made indicate that be-
fore the Investigation Of the looted bank
u finished he probably VII b written
down as the star bank thiet Of the century.
Out Of many instances the following are
the most sensational:
An estate was left by Joseph Dstro In
which Ripple wa named as sole executor
without bonds by viii dated IN 1894. His
estate Possessed t7sO, 900 In Metropolitan
Traction Company stock. Inquiries since
Hipple's death resulted In the information
to-day that the books showed no stOc X
held either by the Detro estate or Hipple a.
trustee. IL 10 feared that this quarter Of q
million has vanished "a completely a. the
100000 OF deposits.
The theft Of $50 200 OF the bonds Of the
trustees Of the Presbyterian General As
sembly was to-day fastened upon Nipple by
the examination Of their eOeS 900 Of securl-
Ties BY the committee Of auditors. This
makes approximately 500 600 missing to
date from tho Presbyterian funds.
IL was also discovered that Segal and
Nipple cleaned up 100000 each In the saIe
OF the Camden Sugar Refinery 20 tho trust.
Negotiations by the Sugar Trust for taking
the S-hackamaxOn Sugar Refinery Oh the
hands Of Receiver Earle were opened to-
Gay. Ths overturcs came from Joseph 8.
Ausrbach Of New York.
District Attorney Bell made public to-
night q letter left by Ripple, and found on
ms bureau. IL simply said:
'Segal got II all. l alone am TO blame.
Was fooled
This confession IN dlstInOs from that found
at the bank.