Rensselaer Semi-Weekly Republican, Volume 39, Number 2, Rensselaer, Jasper County, 7 September 1906 — NIPPLE'S THEFTS AMAZE. [ARTICLE]

NIPPLE'S THEFTS AMAZE.

Hoary Steallaar* by Philadelphia's s*lnt-I.ike Financier. The statement of Receiver Earle of the Real Estate Trust Company that Frank K. Hippby the late president of tho concern, bad stolen securities milled at $65,000 and That the lending of $5,000,000 to ‘ Adolph Segal on insufficient security amounted to. theft, createij a sensation th rou gbotit I‘hilifdelph ia. The revelation was a blow to Hipphfa many -nyritnan? friends; - moat of whom aro prominent in. the Presbyterian church, either os clergymen or laymen. So high was Their esteem for the man who abhorred tobacco anil, liquor and refrained from reading- Sunday -newspapers, that not only the -various- organizations—in—the_ iffresbyrerian chun li made the trust com--pany their depository, but hundreds of inwiiberth'Ttf ‘Tbntf demxtrtnnTlon placed their money ip his compttny.bank for their savings was exceptionally large. Most of them refused to entertain the theory that llipple ended- his life and it wag difficult to make them believe that his seer-et ojvcrauoru; were as.J.rregular as they are nllcgt'd to be. In addition to his ehdfch wprk Mr. Hippie took all actiyeintcreM in Cffoi'Hi pnliti.es and is -'"l 10 hn-vo been a heavy cotitribntor- to the reformers’ e.-uiijhiign' funds in last year’* notable e..' ;•! ■;!' ettV. -f’— Critici-m of tlie failure of the directors of the comgaiiy-to'dis.-eiver Hippie’s trans—- ~ a ellOnls Ti N 11 i.'r- a -eff. M 1 el 1 !1,0 1 y • "f 1 J f;h'c iargdr J ereditors are angry at what they iejm-tiet-uree-:;:luse ;n.■ it. ; Ir-nr allegel that yhral nf the directors, had knowledge that same .of. Hippie’s tcansact ions \\e re. .Aiusafe, Tmr—Lii_iL they had BUi'h cohiiileiico in -hise-H#e%Fttw- t hat' they did not susyccw -ttfe true -ST^tTr~nf'affairs or rntcrlain tin- Belief that his ojierations ireu- JrreguTar. ' -—Adol[ih Segn-I. whove borrowing fro-tn-ffie trust edmptiny was- tTie principal cause of the failure, mid whn-had s|>.iketr-ffeely of his :tE&nsdctinns with llipble, has adopted a policy of silence.- 1 It* refuses to disettss any phase or development of t-ho aiTuHr-attd ilii|uirer« tn-b-r*-WtS-Bl'i - > 1. -