Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-18

! tent yON FOV VeoltEhdX anu SSA
J promised TO return II to me today VIII
you give 1t to me now?'
! "Tnere had been no exchange oil
money. II was a hallucinetion on SegaPs
part. I believe his financial wnall
was due to his mental condition. | be-
lieve he has been of unbalanced mind
| for the last six years
THE indications or signs of insanity
may have been so slight as not 10 be
noticed by his friends or family, but l
| have no doubt that for the last six or
! seven years he has been insane
Even yesterday the decision to move
! Mr.. SeRal to Norristown was kept secret,
Berl Segal, In answer to point blank
questions, admitted that his father would
be taken to sanatorium.
MY fathers mind may be clouded at
times" he said, but no one ca tell
when he will recover He was said to he
at deaths door six weeks ago, and he is
| still alive today. lie will be moved TO
n sanatorium as soon as he Is strong
enough"
CALLED HUMAN STEAM ENGINE.
Mr.. segal has been referred TO as
human steam engine" and "the prince
of borrowers" The last sobriquet was
applied to him last July when he swore
IN bankruptcy court that hiss assets
were rs cents. although he was facing la
biities of nearly $3,OOO.OOO.
His worst enemy would admit that he
had uncanny powers when IL came TO
financing on a "shoestring." Time after
time his opponents breathed sigh OF re-
lief when Segal met with some reverse
that seemed sure to crush him, only 10
find him in an Incl edibly short space oil
time promoting some new project of even
greater magnitude than that on Whlch ne
lost
Adolph Segal thought in millions in his
palmy days. This was shown In his two
deals with the Sugar Trust, the first OF
which netted him a sum said to have
been more than s1,o00,OoO. 1t was In his
second deal that he overreached himself
and was trapped by agents of the trust.
This trap caught also Frank *. Nipple,
president of the Real Estate Trust Com
pany, and Hipple shot himself when his
company collapsed.
H1PPLE's DYING REPRoACH.
In his dead hand was found a note
that read as follows:
"1 am alone to blame. segal got the
money I was fooled
Had Segal succeeded in his second at
tempt to make money out of the Sugar
Trust his profits would have been far
greater than the first. In the first he got
Nipple to finance a sugar factory in
Camden. The trust was sitting compe-
tition in those days by buying up all rival
factories and closing them. Segal figured
the trust would buy his factory, and
It did.
He tried 1t again this time building
the Pennsylvania sugar refinery at
ShackamaXon street wharf. But the
trust, bitten once, had been watching
him. 1t learned of his deals with Hip
pie; II learned that the IS 100000 of funds
in the vaults Of the trust company had
been touched, and 1t laid the trap. Segal
had put too many irons In the fire.
While the magnificent sugar plant was
building he had conceived the idea of a
great hotel on the site of the old Elkns
mansion at the northeast corner OF
Broad street and Girard avenue. The
Majestic Hotel was being completed.
Segal had been spending money right
and left in a social campaign that he
planned to insure the success of the
hotel. The campaign Is said to have
cost him 100000.
TRAPPED BY SUGAR TRUST
segal needed money, and the trust be-
came aware of 1t. Its agent reached
Segal and advanced him more than
sl.0O0,0O0, but in return 1t secured con-
troll Of the Pennsylvania Sugar Refinery.
The only hope Segal had of paying the
loan was to operate the factory and
realize on shares of stock or make the
trust company come to terms and buy
him out. But when the trust obtained
control it's Board OF Directors voted to
close the factory, and all Segars efforts
to operate the place were futile.
Then came the crash. The Real Estate
Trust Company went under and Hipple
shot himself. George III. Earle, Jr., was
made receiver. He learned of the part
the trust had played and laid his infor-
nation before the Government authorities
at Washington. Segal compromised and
escaped punishment. Indictments were
fouid against several trust officials by
the Government, although no stone was
left unturned in the fight to prevent 1t.
Civil action was taken by Mr.. Earle
against the trust and II also compro-
missed.
HIS MARVELLOUS CAREER.
Mr.. Segal came to this country from
Austria. Fortune smiled on him at the
start His first venture, it is said. was
to throw dice with his landlord to see
whether he should pay two years rent
down or nothing for n year, and he won.
Then he began work over a soap caldron
in the cellar OF a West Philadelphia
house.
His first big success was the perfect
Ing of a process to wax paper. He sold
the patent for $4,000. After that he made
money in various ways. He has built
soap factories, apartment houses and
great operations of dwelling houses. The
Bartram Apartments, in West Philadel-
phia, were built by Mr.. Segal. and. al
though he was laughed at as a dreamer,
the place paid from the start.
In Altoona he built $40 houses and lost
on the deal. The Majestic was to be his
'crowning achievement. but the place
never came up to his expectations and
this year he lost control of it. Then he
was thrown into bankruptcy. His family
and physician said 1t was fear of the
ordeal OF testifying that sent him a sick
man to St, Joseph's Hospital. but in
reality it was the final collapse OF his
mind.