THE PHILADELPHIA FAILURE.
6000 DEPOSITORS RUINED.
By Telegraph.—Press Association.—Copyright.
New York, September 7. Hipple, late manager of the Real Estate Trust of Philadelphia, left a memorandum stating that Adolph Segal, a company promoter, fooled him and got all the money.
It is estimated the losses amount to two million sterling, and that 6000 depositors have been ruined.
Segal, with the ■ bank's treasurer and assistant treasurer, will be prosecuted.
Hippie recently committed suicide after having embezzled tho funds of the Trust to the extent of £1,000,000.
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New Zealand Herald, Volume XLIII, Issue 13278, 10 September 1906, Page 5
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85THE PHILADELPHIA FAILURE. New Zealand Herald, Volume XLIII, Issue 13278, 10 September 1906, Page 5
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