The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-05

Receiver for Spring Valley Bank.
Peoria, ILL.,. July Sd. A. Cook, ma
tional bank examiner, who was APP
pointed receiver of the Spring Valley
National bank of Spring Valley, ILL.,,
was unable to make a statement today
as to the condition OF the banks liabilt-
ties or the amount owed the bank by
the Devlin estate. There was no run
on the institution when its doors were
closed.
Waiting for Receivers Report.
Washington, July 5.-Thomas P.
Kane, acting comptroller of the cur
rency, said today concerning the clos
ing of the First National bank at To-
peka, Kan:
Nothing can be done by the comp
troller until the first report is received
from the receiver as to the condition
of the banks assets, liabilities and
general condition, and the showing
thus made. 1t can then be determined
whether the affairs of the bank shall
be wound up with a permanent re-
continued with satisfactory arrange
ments. If no effort is made in the lat
ter direction, then the appointment of
a permanent receiver will be neces-
sary. I have had nothing today from
Topeka concerning the situation.
About o'clock last evening, received
q dispatch from Mr.. Bradley, one of
the inspectors Of national banks for
ing he would proceed at once to To-
peka to take charge of the bank, &C
cording to my instructions presume
the message was filed some time yes
Mr.. Bradley reached Topeka this
morning. Mr.. AmeS, the other ma
Gional bank examiner for Kansas, was
temporarily in charge
Further than this Mr.. Kane had no
comment to make. He spent the day
at his home, holding himself in readi-
ness to act on any information that
might come, however. Mr.. Kane said
he had been interested in reading about
the failure of the Salmon bank at
Clinton, Mo. The comptroller has
nothing whatever to do with this
bank, however, as it is a. private or
state bank. It would depend upon
what the statutes of Missouri are gov
erning state banks, what disposition
would be made of that case, as be-
tween the state courts and federal
bankruptcy court. He said under the
national banking law the comptroller
has the power of appointing the re-
ceiver, while in the case of state
banks the power is vested in the state
courts.
May Dissolve the Attachment.
Kansas City. Mo, July 5.-Judge
Elijah Robinson, a member of the
committee, and attorney for the Ma
tional Bank of Commerce, which is
z CE6Q1lOF levin ana yesterday al
tached all his real estate in Kansas
City to secure its debt of $128,OOO,
said today:
s'The attachment suit was filed be-
cause we don't propose to let anyone
get an advantage of US if we can pre-
vent it. We suspect that certain cred
itors have been given preference. If
Devlin is not adjudged d bankrupt,
then the attachment suit will be
pushed unless all the creditors go into
q voluntary arrangement as we are
willing to do, and then we will re-
lease our lien, if every other creditor
does the same. Everyone familiar
with the case says that DeVlin has
enough assets to pay all creditors ard
have some left. hope this is true.
Judge Robinson said the real es-
tate levied on was about 1900 feet on
the Belt line used as coal yards by
the Kansas City Coal and Coke Com
pany.
An attorney who knows a great
deal about the Devlin matter, said
today:
''1 can only judge the future by the
past, and in the past we never saw
q solvent man go to the wall. A SOL
vent man can borrow money. 1t is
true that Devlin has the best coal
properties in Kansas and he is the
owner of twenty-six different COM
panies, including coal mines in the
Streator, Ill, district, and two banks
there, but I think it will be found that
ALz1 THESE companies nave borrowed to
the limit and pledged their stock 1t
IS a bad failure
The members of the creditors COM
Ynittee, as originally selected, are as
follows:
C. S. Jobes, president of the Ameri-
can National bank of Kansas City,
chairman.
Judge Elijah Robinson, attorney for
the National Bank of Commerce of
Kansas City.
A. A. Mechanism, representing the
Continental Trust company of Chi
cago.
H. a. Forman, representing the
Fourth National bank of st. Louis.
Charles S. Gleed, president of the
Missouri and Kansas Telephone com
pany, who is to be president of the
corporation formed to operate the
Devlin properties.
Mr. Fornan, selected to represent
the Fourth National of st. Louis, has
wired that he is so far away that 1t
will be impossible for him to serve on
the committee, and some one else will
be chosen to succeed him.