The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-11

"Loans and discount securities not in
cluded.
Are the depositors of the defunct
First National bank in earnest?
Answer echoed in sob and angry
denunciation Monday night
Are they afraid of losing their
lifetime savings-their all?
Plainly was that fear betrayed in
a nervous unrest, foreboding rumble
of thunder before the storm.
They were gathered in solemn,
serious concourse, rich and poor alike,
perhaps all poor now; broadcloth and
silk rubbed shoulder to shoulder with
jeans and calico; white man and
negro sat side by side. There was
means that the gage of battle has
been thrown down.
I'VE are in a common cause against
an awful menace" Numbered David
Overmyer. Like the daybreak which
inoculates motion into men, so did
the lifting of this battle standard
start into fevered hearts and minds
the hope that fighting spirit brings
with it, even though against heavier
odds and stronger girded Ioins.
The call for the gathering of the
depositors of the First National bank
named the Commercial club rooms
for the meeting place. Before 8
O'Clock the room was packed to
were crowded, and not less than 100
were turned away. After the meet
ing had progressed little way, some
one in the rear of the room suggested
that the meeting be transferred to
the Auditorium.
Mayor Davis permission to secure
the big hall was obtained over the
telephone. and an immediate adj
i journment taken. After the crowd
| was seated in the Auditorium an
actual cn1Inf do of
ent, and the number was exactly 1926.
Every man here who is a de-
positor, please rise to his feet" called
out Chairman S. H. Allen. With the
every person in the hall stood up.
"They can't say this meeting was
packed" sang out Sam Radges, and
everybody laughed.
The people who came wanted to do
two things-find out the present con-
dition of the bank, and organize for
the purpose of seIf-relief
Trouble to Get Information.
The information obtained was not
| altogether satisfactory. Sam Radges.
whose actual deposit in the failed
| mental in calling the meeting, and
therefore was expected to be primed
with inside facts about the bank.
That however was impossible
thing to provide for the hungry ears
ceiver knows" he said as he came
upon the platform, land he won't
tell Then he stated that from re-
liable sources he CLEANED knowledge
that "about $314.00O is in sight with
out the aid of an x-ray to see what
| else the receiver has, He made up
this sum from 100000 which the
bank was supposed to have had left
on hand after Fridays banking hours;
$4,000, the value of the bank build
| ing; double liability on stock, $4,000;
premium on bonds, $4,000. He men
| toned possible assets from $4,000
of loans and discounts with gilt
said Mr. Radges, while obtained
| sonally substantiate, because no one
but the receiver really knows.
mo one knows what the balance is,
and no one will know until the first re-
port is made by the receiver. 1t is to
be sent to every depositor. So far as
the bankruptcy procedure is concerned
we have little to do with it, but the
fact that Mr.. Devlin owes the bank
| 81 200, 900 That is all I can say on that
score. So far as the financial condition
of the bank is concerned, 1 understand
| from good authoritative sources that
| there was 5000, 900 in money in its vaults.
| Then there was, I understand, $150,000
| of gilt edged security. 1 cannot say
where 1 got nv information but it was
from a good reliable source What
| there is in the bank today is problemat-
ical. 1 understand that this $150,00O
with some other stuff was offered as Sc
curity to get 81 ,000, 900 from Topeka and
Kansas City banks. It is still property
of the bank and therefore part of our
| credit There are some other loans and
discounts which will fall to our share.