When do you call out?

[Uncle George]

I was under the impression from the rule book that the fielder who caught the ball had to physically remove the ball from the glove in order for it to be called an out. Now with that said, I'm one of those who use the "he had it long enough" thing, which after reading some posts here is the wrong thing to say. But if the rule book says the fielder has to physically remove it from the glove in order for it to be an out...and after the fielder runs 50-feet towards the mound after making the catch which was the 3rd out then drops the ball from his glove, and the coach uses the physically remove the ball thing, what do you do then? Of course this is all hypothetically but what the hell, it could happen...it's baseball where there's a winner and a loser and no one likes to lose!