The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-08-14

1t was a case of feverish activity on
the part of one faction to win out over
the other. Both were figuring for a To-
cation, both realized that the purchase
of the fixtures and the securing of a
lease on theN bank rooms would mean
that the other party would have to give
up the idea of este blishing a~bank. The
precedent of the bank location and the
advantage which contributed with the
establishment of a bank on the same
site, were tied up with the lease. A
bank which failed to secure the lease
would look like an interloper. They
would start in the race handicapped In
addition two banks could not exist, it
would simply mean a division of the
business which would naturally come to
one of them. The only result could be
that one bank would organize and the
other give up the idea.
The Crosby faction secured the fix
lures and the lease and the Davis fac
ton realized that there was no use in
attempting to organize.
The deal was carried through at
shortly after o'clock Saturday after
noon. Three hours afterward ]. E. Hill
key endeavOred to secure lease on the
place but was informed that deal had
already been made. The lease calls for
a monthly rental of 5000 and the fix
lures were purchased for $500.
How 1t Was Done.
To begin with the two factions were
one. Z. H. Crosby and W. H. Davis
had both been for many years deposit
tors and patrons of the bank. They to-
gether with w. F. Schoch, A. H. Bates.
c. w. Merriam, Lee Monroe, and 9TH
ers were the leading spirits back of a
new bank organization. J. E. Hickey
of Overlook, Kansas, a cashier in the
First National at that place appeared
on the scene and wanted to invest pro-
vided that he was given a position as
| cashier. Then W. H. Davis stated that
he did not care to put in his money I'M
less he had some say so in the man
agement. His name was suggested for
president. Then the trouble arose. Cros-
by, Bates and Merriam together with
several others thought that nothing
should be cut and dried in advance.
They believed that w. H. Davis as
mayor and as member of the Parkhurst
Davis wholesale grocery had all that
he could attend to- They did not care
to have Hickey in because they prefer
red to have it a Topeka bank manned
by Topeka men. Then E. H. Crosby,
A. H. Bates and G. w. Merriam drew
off and planned for an organization.
likewise did w. H. Davis, w. H. Schoch
and J. E. Hickey. The latter interested
some new parties in their scheme. They
brought in several well known local
men and a North Topeka banker. The
question simply narrowed down then
as to who was to get the lease and the
fixtures.
Both however were waiting on each.
other but the Crosby faction heard of
something in the wind Saturday after
noon and going down to Bradley cllnch-
ed their position. They organized in
formally as did the Davis faction which
selected w. H Davis as president and
]. E. Hilkey as cashier.
The action of the committee which
had been appointed in the first place,
The committee consisting of G. w
Merriam, A. H. Bates and Lee Monroe
was supposed to represent the inter-
ests before the factional trouble arose.
They were to take tue preliminary
steps towards an Organization. They
did nothing actively until the middle
of last week This was the time when
the first small cloud showed itself
above the horizon.
Merriam and Bates interested them
selves according to the injunctions is
sued to the committee in the first
place. but they had since allied them
selves with the Crosby faction and
their actions were taken in behalf of
that faction. Receiver Bradley, how
ever had not been Kept informed of
the inner working OF things and still
presumed that the two gentlemen
represented all parties. He finally be-
came Informed Friday and as he said:
f'It very nearly brought me into trou-
BILE. 1t was put in veryembarrassing
position"
The new bank will be known as the
Capitol National bank. 1t will have a
Capitalization of 100000. Half of
this amount will be taken I'D by the
directors and organizers. and the bal
ance will be thrown open to the pub
lie for subscriptions. 1t will not be a
one man bank. The organizers have
realized the error which attends a one
man institution in the history of the
Devlin failure.
MIR. Knowles President.
The president of the bank will be
Edwin Knowles. cashier of the Central