Real Estate Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: January 1, 1910*
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: f8d4dc93

Response Measures

None

Description

Article (Jan 10, 1910) describes the downfall of the Real Estate Trust Company, discovery of scandals, and that its receiver (George H. Earle) made discoveries; also mentions suicide of its president Frank K. Hipple. No explicit run is described; the bank had a receiver and appears to have failed/closed. Dates in article used as 1910-01 for events.

Events (2)

1. January 1, 1910* Receivership

Newspaper Excerpt: its receiver, George H. Earle, made discoveries which convinced him that the refining concern here had been put out of business by the transaction on which the suit at that time was based.
Source: newspapers

2. January 1, 1910* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Company was loaded up with securities of the Pennsylvania Sugar Refining Company; scandals discovered and suicide of president revealed insolvency/mismanagement.
Newspaper Excerpt: This suit grew out of the downfall of the Real Estate Trust Company and the suicide of its president, Frank K. Hipple, which disclosed many scandals.
Source: newspapers

Newspaper Articles (1)

1. January 10, 1910 Newark Evening Star and Newark Advertiser Newark, NJ

Article from Newark Evening Star and Newark Advertiser, January 10, 1910

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Article Text

L. & BAMBERGER CO. SUMMIT MAYOR INVITES as originally proposed, the company would receive almost $750,000. CITIZENS TO HELP GOVERN. The case of the Pennsylvania Sugar ONGRESS PLANS SENTENCES FOUR Refining Company against the Sugar Trust, charging it with preventing the SUMMIT, Jan. 10.-Mayor George F. former from operating, through a conVreeland, who took office on January 1, spiracy of the directors and. officers of STRONG DEFENSES has announced that while he is in ofSUGAR TRUST MEN the trust, was taken into the United fice there will be public conferences of States Circuit Court in New York last the City Council and the people on the May. Violation of the Sherman antithird Wednesday of each month, at trust act was charged. and damages to FOR PH.LIPPINES TO YEAR IN JAIL which criticism of and suggestion to the extent of $30,000,000 were demanded. the administration will be invited. This suit grew out of the downfall of The mayor admits that it is an exthe Real Estate Trust Company and periment, but one that he is anxious rtifications Bill Calls for the suicide of its president, Frank K. Employees Convicted of Underto try. Hipple, which disclosed many scandals. "If they don't attend the conferences Strengthening Seacoast It was found that the Real Estate weighing Frauds Are Sent at least then they will have no grounds Trust Company was loaded up with the Batteries. to Blackwell's Island. on which to base idle criticisms after securities of the Pennsylvania Sugar the mayor and Council have done their Refining Company, and its receiver, best for the city.' he remarks. George H. Earle, made discoveries WASHINGTON, Jan. 10.-FortificaThe mayor adds that any suggestion NEW YORK, Jan. 10.-Four former which convinced him that the refining for the United States and insuthat may be offered at the conferences employees of the American Sugar Reconcern here had been put out of busi possessions for the year 1911 will will be weighed fully and- if possible ness by the transaction on which the fining Company, convicted of underacted on by the Council $5,617,200, over two and a half suit at that time was based. weighing frauds, were sentenced to Ilions less than for 1910 if the House