The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-06
BETTER TO DEv11N CREDITORS.


LETTER TO DEvLIN CREDITORS.
Text Of the Document-Held Stormy
Meeting.
Following is the text of the letter issued
by the Devlin protective committee at
Kansas City:
To the Creditors of Charles J. Devlin and
the various Corporations Controlled by
pointed at a meeting of the creditors. at
which we think approximately 80 per cent.
q the liabilities were represented, held at
KANSAS City, July 2, beg to report that
after a hurried investigation of the affairs
OF the various corporations dominated by
utterly impossible to collect data from
which to make anything like an intelligent
- to the course to be pursued in regard
thirty days from this date.
The committee. at a meeting held Mon
day, July 8, Immediately after its appoint
ment, requested through the counsel for
Mr.. Devlin a statement of the condition
OF his personal affairs, and statements of
tpe conditions OF the various companies in
question, but up to this time has been I'M
AIDE to secure such statements, and they
probably will not be forthcoming until the
end of the present week. Mr.. DevIin's
counsel has however, assured the commit
tee of his hearty cooperation in this mat
ter, and that all the data requested by the
committee Will be furnished as soon as the
Ten IN such shape as to warrant a reason
blaties anu
From the cursory investigation of Mr..
leevltn's affairs during the past three days
the committee is convinced that the va
woven That the only possible way to con-
serve the best interests of all the creditors
OF All the concerns will be to devise some
means whereby liquidation may be had
OF the entirety, having in mind the re-
specttve rights of the creditors of the par
ticuiar concerns, and thus prevent depre-
citation and avoid needless and unneces-
sary expense, without waving any legal
rights on the part OF any creditor.
Is indicated above your committee is
sakng the preliminary steps to secure
statements and preparing for a complete
auditing of the AFFAIRS of all the concerns
IN question, which will require about
thirty days to complete and during the
interim requests that all creditors forbear
further prosecution of their various claims
IN any way. or the disposition of any coll
requests. further. that all creditors either
attend or send their representatives to a
the Hotel Baltimore, at Kansas City, Mo.
MONDAY, July 81, at 10 o'clock a. m, when
the committee expects to submit q definite
plan of procedure and a creditors agree
ment embodying such plan.
c. s. GEEED
ELIJAH ROBINSON
A. A. McCLANAHAN
CHARLES A. LOOMS.
Was a Stormy Session.
A Kansas City paper says of the
A committee representing several
banks to which @. j. Devlin is indebted
prepared letter this afternoon address,
ed to all the creditors. This letter urged
that no suits or attachments of any
kind be brought against Mr.. DevIin or
the holding company for the present
and asked for meeting Of all interests
at the Hotel Baltimore July 81 The
letter was signed by all those present
except Mr. Jobes, president of the
American National bank Mr. Johes
said there had been too much publici-
ty'' and that he could not afford to be
at the head OF such a proposition This
leaves the Devlin affair where it was
yesterday.
Mr.. Jobes said after the meeting: 81
believe such a letter should be signed
by Mr.. Gleed. who has been decided up-
on as president of the holding COM
pany. Mr.. Gleed is in Topeka. 1 do not
care to sign the letter until I confer
shown in the letter.
Mr.. Jobes said this afternoon that
mistakes had been made in reports re-
garding the amount of money due the
Devlin.
mr.. Devlin owes us $685., OOO." said
Mr.. Jobes, for which we hold 1888 600
security. Should there be too rnuch de-
lay in realizing on this collateral our
directors stand ready to put up the
Mr.. Devlin.'
Those who ATTENDED the meeting were.
Judge Elijah Robinson for the National
Bank OF Commerce; G. S. Jobes, Ameri-
can National bank; A. A. McClanahan
Of Chicago, representing the Continen-
tai Trust company; Mr. Fornan Fourth
National bank, Chicago; c. A. Loomfs.
City National bank, Kansas City. These
gentlemen met in the Office of Hark-
less. CFysler & Histed. in the American
National bank building, the avowed
purpose being to see If money could be
raised among the banks they represent
ed to tide over the present difficulty
and place MI Devlin's properties in
condition to take care OF themselves.
Noises Through the Walls.
The meeting was long and at times
mitted, but closed doors could not
drown the sound Of the voices of excit-
ed men, each apparently struggling to
gain the best possible for himself or his
client. 1t was 1915 o'clock before the
meeting adjourned and then, within
fifteen minutes, every one of those pres
ent crossed the street to Judge Robin
sons office, in the Hest building
men from Pittsburg, Kan, representing
the Pittsburg National bank through
which Mr.. Devlin transacted much of
his business, especially that part which
pertalned to the coal mines heavy pay
rolls each month. These people seemed
very anxious. Through them it develop
that Mr.. Devlin owes that bank between
$4,000 ana $4,000. and also that next
Be due, about $4,000. The question of
pay rolls was discussed at great length
Not Bankrupt, Said Mr.. HarIEless.
It was the need of money for salaries
Nnd miners wages that agitated the
bankers in the conference. While the
tPlk was going on word was received
hat two or three grocery firms, Long