The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-11-11
Big Transactions of Topeka
Finaneier Kept Them Up.
BANKERSARE ERETICENT
10th to Give Reasons for Present
Poor Showing.
Say Clearings Are Simply
Hunting a Level.

The kites" of c. J. Deylin are down.
That is a word best understood by
bankers and financial men. The de-
scent is shown most plainly in the
Bradstreet bank clearings just issued.
Topeka stand 81 in a list of 81, with a
decrease of S1.5 as compared with the
corresponding week last year. But
three other towns show decreases, the
next greatest being Columbus with
9.6.
With the extraordinary manupula-
tions of the deceased coal operator alb
sent from the market, the bank clear
ances of Topeka are seeking a natural,
normal level The decrease is some
thing remarkable but by no means
alarming. This city is doing just as
much business as ever, in fact the 10
cal commercial circles speak of good
times"
Bankers in the city were rehcent
this morning after reading the clear
ings to discuss the situation, particular
" Mr.. Devlin's connection with it.
They all touch upon the failure of the
First National bank in connection with
Mr. Devlin's immense estate and hold
ing are directly responsible They ad-
nit that the recent shock OF confidence
suffered in this city over the failure
also had influence. But they won't say
much for publication, more as a mat
ter of professional courtesy and be-
cause the matter is past now, that MI.
Devlin's operations caused contlnuai
fIuctua tiOnS during the past Jew years
in the bank clearing of Topeka. Ere
quently they have been asked by the
newspapers to give a reason Tor these
vacillating figures, but none OF Lhem
ascribed them to DeVlin'S manlpula-
tions They. however, were in great
evidence and were directly Responsible
The deceased coal operator put the To-
cal financial market OF the move ire
duentIy. The clearings were on con-
tinuaI change. Now they are hunting
q level They will not stay as low as
they are now. but will probably very
soon restore themselves TO tnelr
natural place. 1t is not supposed to
The reasons for the decrease as Civ
en- by bankers are the absence OF q.
J. DevIin's operations from the mar
lSet: the failure of the First National
bank; the subsequent lack OF conn
dence engendered in towns over the
state to deposit and exchange with To-
De<a banks until the financial waters
have lost their turbulence
8 8 OFT of the Central National bank
! said s.Fhen the First National bank
failed many outside banks quit using 10
peka banks and used others; A good many
banks from over the state deposited mere
and that business has been reduced since
t july l. Instead they are going to Chi-
cago, St. Louis. Kansas city, st JeSeta
Q
+ changes also. But it does not mean at a.
that the business in this city is reduced;
But the clearings are lower on account OF
the state business going outside they
will seek a normal level after the shoek
Of confidence over the failure has sub
J. " Thurston of the Bank of Topeka
said. 1.-The decrease is due to the failure
of the First National bank There IS a
| large amount of currency in hiding We
think from the shock to the publc- Bud
| it does not mean any decrease IN busl-
ness. Things will get back into normal
Fred Freeman of the Merchants Ma
tional bank said: "The absence of a sew
en- times millionaire coal operator has
/ some effect But can not give you any
/ reason III particular because 1t has noi
/ affected us. We have felt no change al
all Our business here is just about the
same In fact we have number OF eN-
/ ira outside depositors since the failure.
Edwin Knowles of the Capitol National
/ bank said: The First National bank
/ business is naturally cut out now and
| Mr.. -Devlin's operations are off the mar
/ ket These things both cut down the
| cIearances materially. But they VIII Soon
| get back to a good level again. It means
| no decrease in business at all in the city
/ in fact local business is very good.