The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-01-04
Mr.. DUDLEY QUITS
Veteran Topeka Banker Sells
His Institution.
Has Been Open in Business for
Thirty-four Years.
STARTED IN YEAR 1869.
Weathered All PanicS and FL.
nancial Upheavals.
Says He Never Had Trouble
After 1878.

The doors of the Dudley bank were
not opened at the usual hour this
morning and it wasn't because of fin
ancial trouble either. For the first
time in "a years. during a legal busi-
ness day, the Dudley bank is not look
ing for and doing business. The bal
ance sheet and the list of depositors
of the Dudley bank are now in posses
sion of the First National bank which
also has the Dudley banks good will.
For, after a generation of business life,
that institution has been closed by it's
proprietor. Guilford Dudley. Sr., who
has decided to drop out of the banking
business altogether. For three or four
years his bank has been run pretty
exclusively by subordinates.
Until the day of it's close the Dud-
ley bank had been doing a steady, com
Portable business. 1t occupied half of
the front room on the first floor at 519
Kansas avenue while on the other side
of the room were a half dozen desks
and chairs with as many occupants en-
gagged in various sorts of business. It
was at the Dudley hank that many
of the old-timers who could manage to
get down town would gather to talk
politics, crops and business conditions.
Hardly an hour in the day but
two or more gray heads might be seen
bent together over a yarn, or thrown
back in enjoyment of the same. Wheth-
er it was behind the counter or on the
other side of the room the gatherings
have continued to take place and the
simple fact of the removal of the bank
ing business is not likely to make any
difference for Mr.. Dudley and his cash
Ter, w. o. Ewing, will continue keep
ing desks in the room until the whole
place shall be vacated for store. That
is a remote contingency.
The Dudley bank was started by
Guildford Dudley in November. 1863,
and has been in the business ever since
until last Saturday afternoon. few
days previous to that Mr.. Dudley had
made the inquiry if the accounts and
deposits of his bank would be received
by that institution. He was. told that
they would He had intended to Quit
with the new year, but did not quite
conclude his arrangements in time On
Saturday afternoon the books We're
balanced for the last time and this
morning Mr.. Dudley went up and
turned the business of his bank and
the money OF his Sc deDoSitors over to
the First National bank. He received
nothing in exchange. Several months
ago Mr.. Dudley had an opportunity to
sell his business The young man who
wanted TO take it was willing to pay a
good price for it, but the young man
did not have the most indisoutable en-
dorsements nor could he furnish any
gilt edged certificate of his reliability.
so that Mr.. Dudley did not consider his
proposition By the present arrange
ment he has nothing to show for his
former business. but he is confident of
the protection of his former depositors.
There have been several other private
banks in Topeka since the Dudley bank
was established but it has outlived
them all Mr. Dudley came to Topeka
in 1855 and for fourteen years was en-
gagged in varying sorts of business. For
a number of years he did considerable
business in mortgages and bonds. For
a while he Travelled for a LeavenwOrth
grocery establishment and he served a
term as adjutant general of the state
under the Kearney war administration.
After few years of successful business
in bonds and mortgages Mr.. Dudley
started the bank It's first really hard
shedding came in 1873 with the financial
panic of that time, which resulted from
some unsuccessful juggling with the
currency of the country on the part of
Jay Cook, and a consequent scare among
all sorts of business institutions. Dud-
ley'S bank was one of the few which
paid it's creditors in money even after
its correspondent in New York city had
failed.
II never had any trouble after that"
said Mr.. Dudley today There were
two other banks in Topeka at that time
T. W. Giles bank and the Kansas
National bank, belonging to Dan
Adams who failed. In 1869 the Giles
bank was a door or two south of the
corner of Sixth and Kansas avenues on
the west side and the Kansas National
was on the other side of the street The
Bates building on the southeast corner
was built for the Dan Adams bank but
he didn't stay in it long"