Rensselaer Semi-Weekly Republican, Volume 39, Number 26, Rensselaer, Jasper County, 27 November 1906 — Real Estate Trust Reopened. [ARTICLE]

Real Estate Trust Reopened.

The Real Estate Trust Company of Philadelphia, which was wrecked last August through misuse of funds by its president, Frank K. Hippie, who afterward committed suicide, was opened Thursday with George 11. Earl, Jr., at Its head, he having served as receiver. Instead of an expected run, the books on the first days showed a large balance of deposits. The reopening was made possible by the depositors agreeing to lot two-thirds of their $6,000,000 remain as preferred stock, and by the directors ■taking good $2,500,000.